Cross Selling Mortgages

May 12, 2008

  1. insureagent
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    insureagent Expert

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    Does anybody here ever come across the opportunity to cross sell residential mortages?

    Any body here ever get involved with cross selling residential mortgages? Have you ever tried? Why or why not?
     
  2. somarco
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    somarco That Medicare Expert Guy

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    I have done a few in the past. Good money but didn't like the hassle factor.

    Tons of paper work. Underwriting is unpredictable. Terms of the loan change (literally) at the last minute.

    Stopped doing it 2 yrs ago.
     
    somarco, May 12, 2008
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  3. slushhhpuppie
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    slushhhpuppie Super Genius

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    It all depends on how you structure it. I wouldn't try and become a broker, I would work on developing a relationship with someone local.

    My guy does all the footwork, I throw him 5-10 referrals a year and he passes along 20% of his gross on the deal.
     
  4. insureagent
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    insureagent Expert

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    Well Im glad to hear a health agent suggest he didnt like the mortgage underwriting, because I grew accustomed to it pretty well over the years. And after reading many of the posts here began dreading what I might have to look at submitting a health app. Thanks for that bit of optimisism.
     
  5. Matthew-HTDI
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    Matthew-HTDI New Member

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    Yeah, I'd imagine you wouldn't want to stretch yourself too thin... Underwriting IS the devil. BTW, I'm having my life insurance policy still in U/W and it's been over 3 weeks! NYLife...
     
  6. 360
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    360 Guru

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    With the exception of partnering with someone that is well versed in reverse mortgages if you work the senior market don't bother.
     
    360, May 21, 2008
    #6
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