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Eric Eisenberg, President of Expert Home Loans, started his mortgage career at 16. As he delivered food to a local mortgage broker in New York, he was offered a part-time job in high school. As early as day three of the new position, Eric was generating eight leads a day. 

After attending college for one year, he started selling subprime mortgages with his older brother’s friends. With a passion to advance his career, Eric applied multiple times to work at Morgan Stanley but was rejected since he did not have a college degree. With a determined mindset, Eric was hired as a Financial Advisor at the company, then moved to Merrill Lynch. 

Eric attributes his success not only to his past but also to his processes. One of them is cold calling. “Cold calling is an art form,” he says. “The trick is to add value outside of closing deals.” Find out what the client is struggling with, and how you can assist. 

Second, leverage Non-QM and Jumbo loans; become an expert in both of these products. “Read the guidelines. Read the updates,” Eric states. 

Lastly, when speaking to a ‘new build’ client, learn to push your services. The builder’s lender will offer plenty of credits to borrowers, but understand where those credits are coming from. Eric says to always remind the client that you’ll have their back throughout the process. 

Eric encourages novice wholesale mortgage brokers and loan officers to stay ahead of deals. “That’s going to be enough with communication, and you’re going to give the client such good service,” he says. 

Learn more about how to improve your processes by listening now.

Notes:

• 3:00: Intro
• 17:50: Mortgage Broker Cold Calling Tips
• 24:00: Understand Non-QM Loans and Jumbo Loans
• 35:00: Mortgage Brokers vs. New Construction
• 44:00: Advice for New Wholesale Brokers and Loan Officers
• 47:00: Mortgage Market Predictions for 2022

This episode is sponsored by AmeriSave