“This Builder’s Referrals are Priceless”

“This Builder’s Referrals are Priceless”


I work with many builders, some for over 20 years. Mark copied me to the email below, what is unique about him, he hand delivers each referral to my office, if they are within two hours. He will make a personal introduction and then leave.


jscreationzs (4)His approach is different, but what I am always amazed at, he doesn’t lose business. Every client to him is like gold and that is how they are treated. Every referral he sends, brings to my office, will buy a new home from him and when he makes that personal introduction, 100% of the time, they will do their mortgage with me.


I have long stopped counting the number of transactions we have done together, but it has covered 20 plus subdivisions. I have also long stopped counting the referrals I have sent him over the years and he continues to make me look good to those referrals.  



“I have a friend, Joe Petrowsky, who owns Right Trac Financial, a mortgage company in Manchester, Connecticut. I’d like to arrange a meeting with you and Joe and you can ask any questions you like, that have to do with real estate marketing or finance.  Joe works with many, many lenders in placing mortgages. I have found him to be a very a rich resource for me in real estate marketing.  I realize that you folks will not be needing a mortgage in the purchase of your new home at Flanders Woods, but I know you have many questions about marketing your present mini horse farm and I’m positive Joe can provide a wealth of knowledge for you in that regard.  You tell me the word and I will arrange such a meeting.”


image courtesy of jscreationzs/freedigitalphotos.net

“USDA Map NOT to Change for Now”

“USDA Map NOT to Change for Now”


This is really good news, as I do a lot of USDA business in all 8 states that I do business. This no money down product has allow folks to get into housing with no money down and has an extremely low default rate. How does it make sense that USDA and VA that allows home buyers to put no money down, continues to have the lowest default rates?



So, Washington has gotten this one correct for a change. Below is the Resolution that was passed on Sept. 19th, 2014.




Implementation of New Rural Area Ineligible Area Maps Delayed!
On September, 19, 2014, “Continuing Appropriations Resolution, 2015,” (Public Law 113-164) was signed by the President.  The continuing resolution extends a current general provision regarding housing program eligibility.   This means that if a community is eligible today, they will remain eligible under the continuing resolution.  Barring further Congressional action, RHS will delay implementation of the revised rural area maps based on the changes to the rural area definition as revised in the Agricultural Act of 2014 (Pub. L. 113-79).  During the continuing resolution and as provided in the FY 2014 Appropriations Act (P.L. 113-76), RHS will not reclassify any area eligible for rural housing programs on September 30, 2013 as not eligible for such programs.  The “Future Eligibility Maps” are posted on the Eligibility Website.   


Questions regarding this notification may be directed to the Single Family Housing Guaranteed Loan Division at 202.720.1452.





image courtesy of ponsulak /freedigitalphotos.net

“Client Went Off On Me, That was a Mistake”

“Client Went Off On Me, That was a Mistake”


I actually couldn’t believe what I was hearing, but was told that I would never be recommend by him, EVER. Yup, that’s what he said. The reason he gave was that he had received a voice mail message from my mortgage processor and the call came from a “Restricted Phone Number”, her personal cell phone, when she was in the hospital with her son. He told me that any company that does business that way, was no one he would ever work with again.


I was not going to defend my processor on this file, as her work and dedication is beyond reproach and with as much grace as I could muster, I told him the following. Under no condition, is he to refer me or my company and wished him well for his closing. Before he had an opportunity to say any more, it was time for me to hang up.  


I then contacted the selling agent that referred this client and gave him a short version of my interaction, he told me that he didn’t feel so bad, the guy went off on him a couple days earlier.  He told me that he wasn’t planning on being at the closing, but thanked me for getting everything done a week ahead of time.


image courtesy of sumetho/freedigitalphotos.net

“I Just Received 10 Free Leads”

“I Just Received 10 Free Leads”


A couple of weeks ago I got a call from a leads company. I usually never take these calls, except I was the one that answered the phone.

The guy was pretty slick, saying we have a gift for you and that must of gotten my attention. He told me, they wanted to verify my email address and were sending me 10 quality mortgage leads. I verified my email address and within minutes I got the leads. All the leads were in states I do business, so I said what the heck and started making some calls. This was new territory for me, as the last time I made a cold call was 1996.

 Master isolated images2

I decided to make the calls driving home at the end of each day and wanted to make the calls from my cell phone. Let me share the overall result and by the way, I reached someone at the phone numbers that were supplied over the course of a week. These are the results of my adventure.


One person closed on a refinance two months ago. Two of the folks told me that their credit was very bad, thought that maybe someone could help them refinance, one of which was in foreclosure. Three different people told me that they owed more than their properties were worth and had already found out that they could not obtain a HARP loan. Two didn’t remember going online regarding a mortgage as they were never going to purchase a home and finally the last two didn’t know anyone in their house had put in a mortgage inquiry. So much for getting something for nothing.


I knew there was a reason that I didn’t want to work with these kinds of leads. I will continue to focus exclusively with a referral based mortgage practice.


image courtesy of Master isolated images/freedigitalphotos.net

“Being Part of My BNI Group for 16 Years”

“Being Part of My BNI Group for 16 Years”
I have given out a few thousand referrals to members of our group over the years, but not totally sure how many referral I have received. In 2012 I closed 31 mortgages as a result of referrals I received, in 2013 I closed 34 mortgages and as of this writing I have closed 21 mortgages so far this year.
adamr2I consider BNI one of my best clients. It is always hard for me to understand how everyone in business wouldn’t want to be part of a BNI group? If you aren’t already in one, why don’t you start your own BNI group. One thing for sure, I certainly wouldn’t be in my BNI group for this many years if it didn’t make financial sense.
-If you have any questions about Connecticut Valley BNI, how and why it works or any related questions, contact me at joe@righttracfg.com or 860 647-7701 x116.
image courtesy of adamr/freedigitalphotos.net

“They Continue to Find Easy Marks”

“They Continue to Find Easy Marks”
I got an email from a friend, who sent me a copy of the email below. She indicated that it was directed to her and she wanted to know if this is something she should get involved with? OMG, this is a bright business woman, that somehow got hooked by these words. I didn’t even know how to respond to her and thought if this lady got hooked, how many others would. Hopefully none of you would be so foolish.
I am Abudul-Samiel Abjaloul Naji, a citizen of Syria. I am currently residing in refugee camp in Turkey. I was searching for real friend/business partner while I find your email, I am interested in knowing you better, I urgently need someone like you with strictest confidentiality to guide me through the most viable investment opportunities in your Country. Alternatively, I can invest in your line of business, perhaps if it’s viable. If interested, reply as soon as possible for more details.
image courtesy of stuart miles/freedigitalphotos.net

“Love Being a Fly on the Wall”

“Love Being a Fly on the Wall”


Gail and I were at a birthday party on Sunday at the home of dear friends. At one point I was sitting on the deck, it was pretty nice out. Seated next to me were two real estate agents, each talking about how badly their recent deals were going because of the loan officer involved with their transactions.


tungphoto223I couldn’t help myself, I decided to interject myself into the conversation. I told them, I couldn’t help but overhear their conversation as I was in the mortgage business and this might be an opportunity to learn from them. It turns out these two did business in the same area of Massachusetts, but were friendly competitors.


We spent the next 45 minutes talking about Realtors and loan officers and how interconnected we were and how dependent we were on honest and open communication. I recommended that each meet with their respective loan officer, as it turned out, both were “In House” and they thought it might be uncomfortable having the conversation. I let them know, I couldn’t imagine that they wouldn’t want a better working relationship with the agents in their office.


It was great having an open and honest conversation, it was pretty clear that all of us had the same goals on every transaction, but the communication part can sometimes be a challenge.



image courtesy of tungphoto/freedigitalphotos.net



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