Thursday, April 21, 2011

Monday, April 18, 2011

Tax Day In Michigan?


Sustainability & Your Business

I've been reading a lot lately about sustainability, especially as it relates to business.  Simply put, sustainability is about creating a business with a long term viable future.

In my prior life as an insurance agent, sustainability meant building a book of business and creating a pipeline of renewable income.  The goal was to have a set of clients that brought in income year after year.  As a notary signing agent, the goal is much the same.  Sustaining a current base of clients (title companies, mortgage companies, signing services) is much easier and much more conducive to long term success than continually having to seek new clients and new relationships.  I think it's important to remember.  We sometimes focus so much on finding new business and clients that we forget how important it is to cultivate our current relationships.  A strong, viable future means building a relationship with your clients that lasts year after year.  That relationship can't be ignored.

Take the time to remind your current clients what it is you offer them and how important their business and their success is to you.  Keep the lines of communication open.  Thank you cards, follow up phone calls, & personal visits are essential.  Never take them for granted.  They are your greatest asset.     

Wednesday, April 13, 2011

New Mortgage Servicing Rules On The Way - But Will It Matter?

According to the USA Today, federal banking regulators are preparing to announce new rules for mortgage servicing companies.  In addition to requiring servicers to follow state and federal laws in dealing with borrowers (well, aren't they ALREADY required to follow state & federal laws?), companies would also be required to:

-Stop foreclosure proceedings when delinquent borrowers are in compliance with terms of modified loans.

-Give distressed homeowners a single person to contact at the giant companies.

-Hire independent consultants to review some of their foreclosures.

-Require companies to make sure they have enough workers and that those workers are properly trained.

To summarize, these NEW rules will require companies to follow existing laws, stop foreclosures when people are complying with their terms, give consumers someone to talk to, review their procedures, and hire and train adequate workers.  We need new laws for this?  Shouldn't servicers already be doing all of this at minimum?  Color me unimpressed.