SOURCE: MIFSP, Inc.

January 20, 2006 06:00 ET

Mortgage Practitioners Increase Revenues by Offering Innovative Fee-Based Mortgage Services to Homeowners

ATLANTA, GA -- (MARKET WIRE) -- January 20, 2006 -- The Mortgage Institute for Financial Services Professionals (www.mifsp.org) has found the right combination for bringing mortgage professionals increased revenues while filling the homeowner's growing need for objective, competent personalized mortgage advice and representation. MIFSP's fee-based mortgage advisory services provide a way for mortgage professionals to be compensated for building upon what they already know about the loan process, mortgage products and origination practices, and for applying that knowledge in completely new ways for the benefit of the borrower. "Homeowners often rely on generalized information they get piecemeal from various sources, sometimes getting lost in the deluge of information maybe because they find it difficult to objectively assess loan suitability or because life's hectic pace leaves little time to sift, sort, or screen all relevant data. We're showing them that for the cost of a typical appraisal or property inspection, there's a better way. We believe that independent personalized mortgage advice and representation are services that are long overdue," says the Executive Director of MIFSP, Leon Morris.

Training that leads to Residential Mortgage Planner® or Certified Mortgage Evaluator designations offered by MIFSP enables mortgage practitioners to identify, clarify, and educate homeowners about many ill-conceived notions, misconceptions, miscalculations, and inappropriate comparisons and strategies that are commonly espoused and circulated sometimes by well-meaning individuals offering generalized financial advice or by sales people trying to close a deal. "If a consumer chooses to rely on the 'free' advice of a salesperson, then they should expect to be sold. However, while the mortgage practitioner is providing these advisory services the sales hat is removed. At that point they are acting solely on behalf of the homeowner as a true fiduciary mortgage advisor," says Morris.

Mortgage practitioners are seeing these fee-based services as a way to build long-term client relationships. "There's no better way to build a sizable client base, create recurring revenue streams, and promote and maintain client trust and loyalty than to serve the best interests of your clients. Whether the homeowner is looking for a mortgage, a second opinion on a mortgage, a Mortgagor Financial Representative™, or assistance in evaluating and retiring an existing mortgage, as a mortgage practitioner you want to be the only person the homeowner looks to before, during and after mortgage origination. These services help mortgage professionals be that person," says Morris.

About MIFSP: MIFSP offers the only educational programs in Mortgage Based Financial Planning™.

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