Create a Coaching Invoice Template for Mortgage with Ease

Coaching invoice template for Mortgage

hello and welcome this is Tina Bradford I'm one of the customer success managers here at Moore age coach I'm going to give everyone a few more minutes I have a lot of people dropping in and this is a flip class I'm not gonna waste your time we're gonna get in there get dirty get it done if you have any questions always feel free to drop anything into the chat box or into the GoToWebinar control panel area just to start off with just so I know that you can hear me as well as you can see the screen that says the modern mortgage experience if you can just drop what company are you with so in that question area what is your mortgage company that you're working with today drop that into the question area box and that way I know that you can see as well as hear what is going on so we have Calibur Union Home Cherry Creek another caliber Finance of America cific sunrise in Atlanta mortgage prime lending Union another prime lending mortgage network so we actually have a lot of people on this call and I'm not gonna give you that I'm not gonna set here and list everyone off but I still have people dropping in and again because the class is a fast class I like to make sure that people do have time to drop into the class before I start actually the process raise your hand in here if you've ever seen a master template being completed so if you have seen a master template raise your hand I have Pete it has so how a few of you that haven't seen that master template so what I'm gonna do to start off with is I'm actually going to go into my mortgage coach account and I'm gonna pretend that I have a client so someone raised your hand if you volunteer to be my client so if anyone wants to okay we're gonna undo it and this one I know is a good guy hey Paul how are you nice to see you on the call we're gonna unmute Paul so hi Paul how are you doing good how about you I'm doing well so you're gonna be my client today and I am working with koala and I'm not going to put Paul's information in here and I don't know if you guys noticed I'm gonna cancel that out I clicked into the view all so I'm sitting down with Paul and I'm gonna click on search and I'm gonna say hi Paul house how's things going how's the family I'm gonna do the little BS with Paul just to get to know him and then I'm gonna say tell me a little bit about what you're looking for today looking for a VA loan to move into the area with military oh you're looking for a VA loan of course you picked the one that I don't have a master template on right now so we're gonna say he said he's looking for an FHA versus conventional loan great so do you know how much you qualify for today not completely Trevor nothing about two hundred thousand great so I'm gonna go in here and I'm gonna take that FHA versus conventional and I'm gonna copy that analysis to a new client and click on okay so why I'm doing this I'm gonna continue engaging with Paul to make sure that he it knows I'm still here with him so Paul have you already talked to any other loan officers yet I have a public USA birth date so um did they give you anything any layouts or any information at this point no they really didn't give me any more than a rate at this point so you said about 250,000 is that correct Paul oh yeah so great so I am looking actually at a presentation that I have and based on that 250,000 today's interest rate for an FHA is around four point two five and our conventional isn't much more than that that's four point three seven five but what I want to show you Paul is a complete presentation so I'm and let's pretend that I'm going to email this to Paul so Paul I'm gonna go ahead and send you a link if you would could you please open that link up now as you notice the only things I put in was Paul's name the price of the home and I'm placing this in the chat box and the interest rate so that is all I placed in there for the products and if you'd like you guys can click on that link down there so I've already emailed it to Paul and I'm just going to say Paul when you're ready and you have that opened up you've received it in your email click on that link and open it up for me so why he's opening it up I'm gonna add a couple other things in here and he doesn't know that I'm in the background working on a few other things I can even go into the analysis screen I can change anything in the analysis screen I want and once Paul tells me that he does have it opened up I'm said oh great I'm gonna click into my preview screen so as you can see I'm showing that FHA versus conventional and this is real life this is what it would be today Paul does this look great to you fantastic here's the payment on both of these payments if you notice it will highlight on your screen as I go through and talk about it so then and Paul thanks for thanks for playing with me but then as I go through and I'm just gonna mute you now thank you so then as I go through it I have everything ready for Paul so this is called a master template this is the easiest and fastest thing you could possibly do for yourself as a loan originator using mortgage coach now the question is how do I build those master templates master templates are super easy so what we're gonna do is I am going to let you guys call out the first two different templates that are called out I will build them with you on this call so if you want me to build a master template give me the products you want in the template for example FHA versus conventional the VA loan you can show different mi factors I have right now an arm versus that conventional loan so whatever it is if you do want a certain master template built let me know in that question area box and that is the template that we will start building so if anyone has any master template today I want to build in their own system so let's we have note no.1 in there so let's go ahead and click on new client and we will start building a master template and we'll do points versus no points actually we have the FHA versus VA so let's do that one the very first thing you always want to do is put a special character at the front of it and the reason you put that special character is because when you go and do a search anything that has a special character comes to the top of the list of that search so when you're talking to your client all of those are listed right in front of you and as you dive into what that client is looking for you can choose the master template that's gonna fit their needs so after that I don't place anything else in here I'm a less-is-more girl but less I have to type the better I feel about it in the goals area I am going to choose purchase a new home and I'm gonna go nice and slow so you guys can build alongside of me now I'm actually going to skip and not put anything in the assumption area or the affordability area we want to go right into the products and we're going to build that FHA and I always like building that FHA first just my perfect prey preference um FHA you can do 5% you can do 3 and a half percent whatever you're doing your FHA though note it in the name and that way when you look at the presentation you know quickly how much is that downpayment I'm gonna put the percentage at the amount that I'm asking down so three and a half percent and I'm gonna place the term here three hundred and sixty that's the only information I'm putting in here basically I'm building out a blank presentation I'm going to advance forward now hopefully you have your closing cost details in there and you have if you have not gone to the other template classes and you need to know how to build product templates please throw your email into the question area box and I will email you a presentation that we did previously on those products are free templates you're going to choose your FHA fee template here I know some of you on your FHA - on any of your templates you might not have certain fees in there maybe you don't have the title insurance and that one actually looks ugly I'm not gonna use that one today I'm just gonna use my samples so if you don't have your title fee's or you don't have something in there that's okay don't fill it in you can fill it in when you're building out the template it only adds one more touch to the final product when I apply it to the product you're gonna put the average number of days that you go in for your pre pays so either I have two people I have those person people who'd only put like two days those people who only put like fifteen days whatever yours is you want to put that same average and then on the next page hazard insurance and property tax if you cannot put it as a percentage you're gonna put the amount that your average is so whatever your amount is for your average here on your property tax and hazard insurance those dollar averages that's what you're gonna place in there and I actually forgot I'm gonna go back because I forgot to put my fh8 up front the very first page make sure that we do have that FHA upfront premium that was an oops on my behalf and make sure that you add the percentage right down here we know it's one point seven five now we're going to add our mortgage insurance and finally you're going to add the average number of months that you collect for your reserves so I put two plus 12 so 14 months for my hazard insurance and three months for my tax reserves now we're going to add our second product which it becomes very easy because we're doing the conventional 5% simply copying it from that FHA clicking on okay removing that upfront so I went to the upfront premium removed it change it to 5% down and then as you advance forward if your closing costs are different go up and change it for your conventional closing cost and then apply it to the loan but otherwise your prepaid days of interest as well as your hazard insurance should be the same your mortgage insurance if you know an average factor in here for your conventional 5% throw that average in and then your hazard and tax reserves so I am going to add one more product here just because there is one more product that would make sense and that is an eighty fifteen five I know everyone does not do these you can also do an 80 10 10 here but this one makes sense on this loan to be able to compare it I'm going to copy it from that 5% conventional because that's the closest loan to being the same clicking on okay all the fees actually we got to change over here the front whenever you're doing an 80 10 10 or an 80 15 5 you want 20% down this is the CL TV and the only other aspect is you're gonna come back to this section and click on yes or does this include a second lane and then in the second lane area let's say you always do a 20 year you can put that 240 in here if you always do first 10 years interest only you can add that in there anything that is stagnant that stays the same that is what you're adding now we have our real own scenarios we're gonna go into our analysis area and set up that analysis area you'll put your average appreciation whatever you like for this short-term 60 is always great because it matches the till arrests on and the long-term ten years is really great because it matches the new seven so it used to be ten years everyone was touching their loan now it's seven on these loans I do like interest in MI because they are interested in MI heavy and the last thing I do is go into my contact area and add your new home because remember this is a marketing piece as much as it is used to compare loans if you're always working in the same city or state you can add them as well you want this stuff again what is gonna stay stagnant what don't you want to touch when you're going in to add your loan scenario so any questions on that or anything that I need to go back over and do and show you now I know some of you guys might be going but I might only use that eighty ten eighty 15 five once in a while the great thing about it is by having all three products built out I can come back in and I can turn any product off at any time so if I'm not going to show that product I don't even have to fill it out I'm just gonna turn it off and by turning it off you go into the presentation into the Select report and then just unchecking the box here so I'm gonna go back up to my home now and Steve I'm not sure what you mean by interest heavy so in these loan scenarios they all have an MI factor the interest is based off the daily interest but it's that mi factor that really comes into play when I'm showing the product and that's why I choose the interest in MI not because the interest but because the mi factor that comes into play especially when things start shutting off like that conventional loan if you do have a minimum amount of percent of months as well as the LTV then that really comes into play with when you're showing a long term okay so that is the way that you build it so you would have it and I put a double asterisk in front of it so is there any other loan scenarios that you would like me to show you okay so Steve wants me to go really quick through these last few windows in this analysis section so what these three do so total principal shows just that it shows how much the principal has gone or how much money has gone towards principal in that long term remember all of this is based on that long term analysis that you select so how much principal is paid in that long term the total net worth this shows you how much equity has been built in if you are showing a property appreciation rate that comes into play if you go into your ab adjust reinvestment strategy and you add in anything into the investment or into your savings that also shows into the net worth and remember it all comes back to what is the long-term time savings that you show and this one shows the total amount of each payment that goes towards interest and MI during that long term analysis time frame so my eye was showing that any other master templates you want to see built does anyone in here use mi options so how many people in here use and my options and you can just raise your hand to show me if you do so we have no mi options what other loan scenario is how about points versus no points are you guys showing points versus no points I'm trying to look it for a couple of them that a few people show and it's going to be beneficial for me to build for the whole class so how about 10% down with monthly single or lender paid mi great one so let's go in we're gonna click on new clients remember switching it to marketing I just like things clear you don't have to do that we're going to do 10% down and remember the more clear you can make your headline the easier it's gonna be but don't forget and I'm going to do my double asterisk and I'm going to do 10% down with monthly or lender paid em I will go through this one a little faster goals is purchase a new home I'm gonna skip right over to my product and we're actually I'm gonna do borrower paid ami I'm gonna add in just in case you have it all out and borrower pay they might and split mi as well so once you go in here borrower pay to mi you'll add in your single we already said this is 10% down so we'll add that 10% down now you do whatever makes sense for your loan products and we're gonna add our 360 and this is borrow a page single upfront so we're gonna add that single premium at the bottom again adding your fees whoops and then after you add your fees I had to go back one add your fees you can add your prepay days of interest and your single premium I'm gonna say it is 0.9 you want to add whatever your normal single premium is if you are doing it percentages or your dollar amounts for your home since this one's borrower paid its upfront single there's no monthly MI I'm gonna add my hazard insurance collect my twelve months add my tax reserves and add my second product so this one's gonna be monthly MI I'm gonna copy it from that single paid MI and click on OK removing that single upfront to none advancing forward this will not change and this we will now add our monthly and I'm going to say mines point four it's the only thing I need to change I'm gonna add my next one this one's lender paid MI again copying it from the one that it's most like I'm just gonna copy it from that borrower paid em I click on OK we move my single pay to mi now here is where it is up to you as the borrower if you want to see that you are paying that MI for them you can add it in the closing cost as a custom fee and you would two custom fees first custom fee while you would add one custom fee add the custom fee lender paid MI place in default prepaid because this is all handled before the prepaids are handled click on OK your going to use a negative amount so let's say it is still that point nine but the lenders paying it but you want to add in a negative here now the second fee you're going to add if you want to show it is contributions and I think I passed it let's go and I'm going to do that point nine now this one is already set up properly and it's paid by the lender and that's going to cancel out these two are going to cancel each other out and then you can apply it to the loan the other way to do it is just not to show either one of these and just let the borrower know the lenders paying it in most cases this means the interest rates a little bit higher and the last one is the split mi we're gonna copy it from that first one that borrower paid mi click on OK we already have that upfront single on there we'll move over here we'll change it to that lower premium amount and then we'll though add our monthly MI factor going into your analysis area you would set it up how you like it set up on this one I would probably go with showing total net worth and then again adding to your property address your new home and as much information here that stays stagnant for you maybe I only have a California license I'm going to include that California state and now I have the two presentations complete those two master templates now to show you again because I showed you the beginning how to use it I'm going to show you again how do you use them now that you have them set up and I just want to stop any questions on those it all comes down filling in as much information as possible that stays stagnant those things that don't change now if I'm going to use one of them I'm going to go into my view all click on my search and then I can scroll down and find any of those templates and you can see I have a ton of templates in here the one of course that Paul pulled out was the VA and I haven't done that one so that's on my list to do the ones I just built are down here but I can go through any of these to be able to pull out a master template and all I do is whichever one it is I click on the carrot I click on the name click on copy analysis and new client and this one I'm pretty sure is not build up the correct so I'm gonna go 15 verses 30 now I know what have I placed in there myself that stayed stagnant and what in do I need to place in there I need to place my clients name in there I need to place a last name if I am using a realtor or someone I can place this in there in order for them to get those alerts I'm gonna place in my friendly name purchase and then I'm gonna go right into my assumptions that little explanation point tells me hey Tina you need to fill something in here so I'm gonna place in my property amount I'm gonna use 300 thousand if I want to add my standard deduction I'm gonna add that here but if I add a standard deduction in there I want to remember that I have to also add on the next page my tax percentage now I'm going to go into my products and now I can easily add what is my 15-year it's 3.875 if I did not put in my lender title fee's or my owner's title fee's I can quickly go into my clothes in cost information update any information in here and then go right to my next loan and you can notice I jump from loan to loan by placing my mouse on product and then quickly going to the other loan I can now add my conventional my analysis area is set up so I'm happy with that my contact information I can go in if I know what city they're buying in I can add the city the state the zip code the more you can make it relevant to your client the better it's going to be and then finally going to the end so I do want to jump into the questions so how do you get this screen with your folders with the master templates great let's go back again on the home screen there's the word view all in the upper right hand side of those recent clients clicking the view all this is your search window so glowing into your search window allows you to be able to go into those master templates because you put a special character at the top it comes right to the top of the list so great question and friendly name another great question I don't think we give enough notice to what this friendly name does I'm actually gonna go into here to explain it I believe I have a tommylee that has several different presentations underneath him let me go into Tommy you can see here underneath it all of those listed that friendly name helps you keep them separate as you go through and do them now if you just keep building new presentations you'll have it like mine where there's a whole bunch of Tommy leads and that's just a name I use randomly but here's the best one to show so I have my annual mortgage review 2018 my angel mortgage review 2019 so that friendly name helps me keep my presentation separate as I build those loans underneath Tommy so that is what they do so and if you're not building loans underneath your clients like for your annual mortgage review super super easy to do because I can click on my annual mortgage review 2019 copy my analysis copy it to the current clients click on it okay now I can go in and I can update it now it's 2020 in the assumptions if I did it the right way when I built in the assumptions I would put the automatic update balance here and then in the products I can go in and change these or do anything I want with the check products in order to make them relevant to my client so it's kind of like a master template for your client if you're copying the clients presentation because it's the same home that they're going into that you're just doing a refinance or mortgage review any other questions that we have today again this takes a little bit more time to set it up in the front end however once you guys have clients sitting in front of you and you use one of these the first time you use it you are going to be so happy you took that time to set your account up properly because it's literally gonna take you two to three minutes to build a presentation at most so looks like there's no other questions I will stick around for a minute or two just in case you do have a question that you want to ask if you don't have a question feel free to drop off the call thanks for joining me I hope that this does help you in your production as well as it makes things a little bit more simpler for you thanks again have a great weekend yes Richard I will send you the defeat templates one as well so I know that there's two of you that requested it so far jerry i'm going to actually be there's gonna be a marketing piece go out for these trainings on the b template product template and master template if you want a copy of this it's also going to be sent out to you if they're sent out approximately 24 hours later harvey i'll send you out that one as well no problem it looks like there's no other questions thanks a lot have a great weekend bye bye