Mortgage Brokers Get New Lease On Life

It's been a rough time for those in the mortgage business. Everybody involved is hurting - the retail consumers, the mortgage brokers, the investment bankers, even the CEOs.

People are losing their homes as they're being forced into their foreclosure; investment bankers that were responsible for re-packaging, slicing, and selling (collectively known as "securitization") all those subprime loans are being fired on a daily basis.

Banks are feeling the pain too, with Wall Street stalwarts like Merrill Lynch and Citigroup taking multi-billion-dollar write-downs - and subsequently firing their CEOs.

Mortgage brokers who used to do multi-million dollar deals regularly are now struggling to do one or two deals per month, if not per year.

Just last Friday, three mortgage brokers called me, looking to jump on the next hot trend - the Reverse Funnel System. They told me about how they were accustomed to regularly earning five- and six-figure incomes every month during the heady years of the early 2000s... but now they're lucky if they make six figures a year.

One of those brokers, a good friend of mine in California, confided that he'd only done two deals this year - one in the beginning of 2007 ($60,000 commission) and one in October ($59,000 commission). These days, he said, the only mortgage bankers that are making any money are those that have been well-established for more than a decade at a big bank.

He took a look at the perpetual leverage in the Reverse Funnel System compensation plan, and realized that he could easily replace and surpass his income as a mortgage broker - with a lot less work.

Because of the automation provided by the Reverse Funnel System, the formidable phone skills acquired by successful mortgage brokers won't really be utilized, if at all. However, I'm looking into developing a special program especially for mortgage brokers (and others who enjoy being on the phone) who really want to turbocharge their success in the Reverse Funnel System.

I'll blog more about this in the Reverse Funnel System Review as I do more research and start implementing certain things. If you want to participate in this, be sure to let me know.

Until then, here's a photo of me and my dog in the Butchart Gardens in Victoria, British Columbia.