Rhonda Porter is an example of why I think traditional media has seen it’s best days. As a mortgage professional, there’s nothing more annoying than watching the nightly news stumble through a story about the industry. It seems like they never get a story completely right. An industry expert can offer insight and understanding for a particular niche that no general reporter could ever hope to. For this reason, I believe an Army of Davids like The Mortgage Porter will eventually change the way most people get their news.
Hi Rhonda, how did you reach the conclusion to start blogging?
I was watching the local news one evening in late November and the reporter was talking about a local elaborate mortgage fraud case. As if that wasn’t enough to launch me, the reporter misstated information about Washington State’s new Loan Originator licensing laws. She incorrectly commented that all originators will be licensed when actually; it’s only those of us who work for brokers and some correspondents (bankers are “unlicensed). It was like a one-two punch. I had just started reading blogs and I felt strongly compelled to get the correct information out.
In addition to the Mortgage Porter, you also contribute to Rain City Guide. What was your motivation to contribute to someone else’s blog?
After starting Mortgage Porter, I began to search out other real estate blogs in the Seattle area and of course, RCG was at the top of the list. I began commenting on their blog and it wasn’t too long after that, Dustin Luther invited me to be a contributor. I had never met any of the other writers for RCG. I really had no idea what a privilege it is to be a part of Rain City or what I was getting into! I’m not sure that I had a motivation at the time…similar to creating my personal blog, it was a gut reaction to say “yes, I’d love to write for RCG”. I’m glad I did! Continue reading
I have a huge amount of respect for Dan Green because he can do something that I simply cannot. Through The Mortgage Reports, Dan blogs about mortgages to consumers. Sounds simple enough, but you try writing about ARP’s and the ten year note for more than a few days and see how well it goes. If you are a loan originator that wishes to blog about mortgages, I can think of no other blogger that you could learn more from than Dan Green.
Hi Dan, what inspired you to create a mortgage blog?
I used to send these terrific direct mail newsletters to my clients each month. It was a 4-page spread with fantastic articles on home financing and other “general knowledge” topics. In December 2004, one of the issues featured a piece on the benefits of “paying down your mortgage early”. The piece was well-written, but I advise my clients to keep their money out of their home. Unless they’ve exhausted all of their other options for “extra” capital, de-leveraging their home is an unsafe risk.
The next day, I stopped the newsletter service and starting looking for alternatives. That’s when I found Alex Stenback at Behind The Mortgage and Dustin Luther at Rain City Guide — two bloggers that we’re writing very interesting stuff. I watched how they both used their blogs as a way to communicate with their readers on their terms. This was the perfect replacement for the newsletter, as I saw it.
After I trolled their blogs for several weeks, I finally stepped out and tried it on my own. Continue reading
As I’ve told my lenderama readers, David Porter’s Mortgage Broker Coaching is one of the blogs I read every day. This is a new blog from a veteran blogger. David was long the creative force behind the Pacesetter Mortgage Blog. Now in semi-retirement David is sharing the knowledge and experiences that made him a success. Mortgage Broker Coaching is a B2B blog focused toward loan originators, a model that would also work well for Wholesale Account Executives who wish to keep in touch with there client base.
Hi David, I want to cover your new blog, but first, let’s step back into history a bit. Tell me what inspired you to create the Pacesetter Mortgage Blog
I was traveling back home from an industry conference, a few years ago, and was reading an extensive article in Business Week on Blogging. This article immediately caught my attention because I began to understand that I could control my own “media company” through a blog. I could, in essence, have my own magazine, radio show, and even television show with the tools that a blog present. This was very exciting to me!
I had been writing my clients a “Letter from the Heart” and an “Evidence of Success” postcard each month. This was costing me nearly $3,000 each month to send this to my clients. I was thinking with a blog, I might be able to reduce that cost, over time, to zero because the Internet was free. This, as it turned out, was happening but it is certainly a transition. I had roughly 60% of my client base reading my blog each day through a FeedBlitz subscription. My goal was to get that to 90% and then quite spending the money on the expensive mailings. I sold my company 18 months ago, so that transition is dead as the new owners are not keeping up with the blog. Continue reading
I have to admit, as a rivaling mortgage blogger, Jeff Corbett and I don’t always see eye to eye. We both believe in transparent business practices, but our paths toward making it happen differ enough that we have had a few lively debates in the past. I have a great amount of respect for Jeff because I know he’s working to make the industry a better place, and even though we’ve disagreed on some matters, we’ve always shown respect for the each other’s opinion. Jeff’s blog is an excellent example of how to use this medium as a digital advocate.
Hi Jeff, I think it’s fair to The XBroker has ruffled a few feathers since it’s creation. Can you tell us what inspired you to create it?
~8 years running a mortgage and real estate brokerage…
Overpaying under qualified loan officers, teaching them everything I know only to have them go start their own businesses and take my next best LO’s to boot. I got to be a little bitter about this process, so I figured out a way to market my business airing the dirty laundry about my competition. It became so popular, that I began spending more time talking about how the industry worked rather than selling loans. Blogging was a solution for me to express my thoughts to a greater audience easier.
It’s actually a little deeper than that though…I’ve been working on a piece of technology that is similar to the automated pre-qualification engines many wholesale lenders use and offer via their web-site (only) to mortgage professionals, except it’s a consumer side application run by and through existing brokers/bankers…