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Episode Summary
In this conversation, Matt Ripley, a mortgage loan originator, discusses the process of obtaining a home mortgage and the challenges faced by business owners. He emphasizes the importance of educating customers about credit, collateral, and capacity requirements for qualifying for a loan. Ripley also explains the role of portfolio products for non-qualified mortgages and the decision-making process in community banks. He highlights the impact of the economy on mortgage lending and the need for time blocking to effectively manage priorities. In this conversation, Matt Ripley discusses the importance of time blocking and how it can increase productivity. He shares his daily schedule and emphasizes the need to prioritize high payoff activities. Matt also talks about balancing work and family, explaining how time blocking allows him to be present for his children’s activities. He highlights the role of real estate agents in the mortgage lending process and the importance of establishing trust. Matt also discusses the power of social media in building a personal brand and reaching a wider audience. Finally, he shares his perspective on hustle and the importance of embracing change and taking action.
Key Takeaways
- Educating customers about credit, collateral, and capacity requirements is crucial for obtaining a home mortgage.
- Business owners face unique challenges in qualifying for personal loans due to the nature of their income and tax returns.
- Portfolio products, such as non-qualified mortgages, provide alternative financing options for borrowers who don’t meet traditional qualification criteria.
- The economy plays a significant role in mortgage lending, with interest rates and market conditions influencing loan products and terms.
- Time blocking is an effective strategy for managing priorities and maximizing productivity in the mortgage industry.
Chapters
00:00 Introduction and Background
06:17 Educating Customers on Home Mortgages
12:02 Challenges for Business Owners in Obtaining Personal Loans
25:29 Portfolio Products for Non-Qualified Mortgages
32:10 Impact of the Economy on Mortgage Lending
36:00 Time Blocking and Managing Priorities
50:44 The Power of Time Blocking
54:23 Balancing Work and Family
58:07 The Role of Real Estate Agents in Mortgage Lending
01:00:03 Building a Social Brand
01:03:57 The Meaning of Hustle
Memorable Quotes
“If I don’t have empathy and understanding and care of what my client’s exact situation is, I can’t be the best loan officer for them and it happens to be a transaction, but I’m growing a relationship. And I want to be their mortgage consultant for life and all their friends and family members, mortgage consultant for life.”
“Every situation is different but here’s what I’ve learned over the years when it comes to business owners. Someone like yourself. Business owners focus a lot of their time on their business. They don’t always take the necessary amount of time to focus on their personal needs the way they should because if in their mind I feel if the business isn’t performing at a certain level personal needs are irrelevant.”
“All lending, whether it’s commercial lending or it’s residential lending to buy a house, everything is all risk-based, okay? What is the riskiness of the scenario? The higher the credit, the more assets, the stronger the business, the less risk, the easier it is to qualify a situation like that. The lower the credit, the lower the assets, the less length of time for the business, it’s just riskier. So the terms and conditions change because of the risk threshold of the business and that qualification.”
Guest Resources
Website – https://themattripleyteam.com/
Facebook – https://www.facebook.com/matt.ripley.75
Instagram – https://www.instagram.com/mortgages_by_matt/
Linkedin – https://www.linkedin.com/in/matt-ripley-a2814313/
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