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    • CDTV Launch! March 30, 2011
        Credit Dusters has just launched our interactive television show. The network is called CDTV and it will start out with a daily show about all things credit. You can go there now…tv.creditdusters.com. Advertisements
    • New VW and Other Purchases I Didn’t Make June 4, 2008
      It seems strange considering my profession.  I recently pulled a copy of my credit report through the credit watch service  I am a member of.  I needed to purchase a car so I wanted to see where my scores stood and shop for the best interest rate.  To my surprise I had purchased a brand new […]
    • Loan Modification – The Best Chance for Success April 30, 2008
      This week we are discussing a painful, but important situation that a lot of American consumers are facing. It is so scary to think that you might lose your home, but we want you to know that there is hope. We want to be a resource to those folks because we have been there and […]
    • Beauty in Simplicity Chapter IV – The Final Verse April 25, 2008
      My family lives in a small, rural town in Southern Indiana. We are surrounded by a soy bean field with hundreds of sprawling acres across the street and a large lake that adjoins our property in the back. Sounds nice, right? Why am I so discontented?What is it that continues to drive me toward always […]
    • Beauty in Simplicity Chapter III – The Endless Road April 24, 2008
      I began writing about the subject as a result of my daughter and I going on a field trip to our county 4-H last week. All the modern day farmers talking about raising chickens, cows, rabbits, and living off the land made me yearn for a life like that. This is my journey…The truth is […]
    • Beauty in Simplicity Chapter II – What’s in the Box? April 23, 2008
      In his book, Halftime, author and successful businessman Bob Buford comments on the purpose of money in the following manner: Mike Kiami is a strategic planning consultant. He is brilliant. He is intuitive. He is demanding. He slices through all the pretense and posturing, and hones in on the core. He does not believe in […]
    • Beauty In Simplicity – Chapter 1 April 22, 2008
      “Stop this train, I want to get off!” – Vanilla Ice Yesterday I touched on the fact that I am soul searching for the simple life. My wife and I used to think the Amish had the answer. I now know, as I mentioned, that I do not have to buy a farm and work […]
    • A Rabbit Meat Shortage, The American Consumer, and Something About The Simple Life April 21, 2008
      I went on a field trip with my 3rd grade daughter this past week to our county 4-H. I learned a lot about farm animals. It was quite amazing because I saw the farmer of today and even with all the modern technology, (like a $280K combine that has a stereo, GPS system, and two seats) it […]
    • How To Not Blow Your Tax Refund April 2, 2008
      In my previous post I wrote about the importance of filing even when you owe. Today I am going to give some helpful tips on preparing for your refund. Whether you are getting $500.00 or $5000.00 it is human nature to spend your money two or three times before it even hits the bank. I would encourage […]
    • How To Proactively Protect Your Identity March 26, 2008
      Freecreditdusters.com has a great article on ID Theft – Check it out
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Where have all the cowboys gone?

Okay. So this is going to be a really weird post, but hang with me I may have a point (If I don’t then you have just wasted more time.). I am frustrated with myself and everyone else in the mortgage industry. There is no doubt things are bad. we are in unknown waters – the storm has been raging for almost a year. It seems like everyday the turmoil increases. The buzz is surrounding the next lending giant getting struck down or tightening its guidelines. 

It is so easy to get caught up in the water cooler chatter – To worry and fret about the deal(s) you currently have in the pipeline. Are you going to be able to close them before the guidelines change. What about the next few months – the holidays are always slow, right? Where will the deals come from? Will I survive to make it another month?

Wow! It is rough being a Loan Officer. So here is the bottom line: What if for the next 60 days you did the following?

1. Garbage in – Garbage out! – Turn off the TV, Radio, and Internet (Take CNN Money off of your home page). Tell your friends in the business that you don’t want to hear the noise. Stop wasting time – Don’t turn me off…hang with me. I am not crazy.

2. Take 45 Minutes – Take time first thing in the morning and simply be quite. This is really hard -You don’t realize how much noise you are surrounded by. Then take the rest of the time and read something posititve (The Bible, Motivation book, or whatever). Simply be grateful for continuing to breathe – This too shall pass. The hard times in the industry does not define who you are…the silence will help you become centered in what is real and important.

3. Have a plan – Here is the crux of it all -Where the rubber meets the road. What is the fastest, most effective for you to get business?  This is all about lead acquisition.

4. Every lead counts – You can no longer pull credit, see someone has a low credit score, and call them back to say you can’t help them. You need to have a partner relationship with a good, integrity driven credit repair firm in place that will take that lead, get their credit cleaned up and send them back to you within a few months. No, these are not now deals, but if you ask them for a referral they probably have a family memeber, coworker, or friend that is currently looking to buy or refinance. If you just tell the borrower No – then the lead is gone forever.

I know this all seems a little out of the ordinary, but it is what I would be doing if I were still closing loans. The creme always rises to the top. Someone will always make money in any market – Why not make it you?

 Good Luck,

 Matt Sullivan, CEO / Credit Dusters, Inc.


One Response

  1. […] creditdusters wrote a fantastic post today on “Where have all the cowboys gone?”Here’s ONLY a quick extractEvery lead counts – You can no longer pull credit, see someone has a low credit score, and call them back to say you can’t help them. You need to have a partner relationship with a good, integrity driven credit repair firm in place that … […]

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