'Cheesy' Strategy Works Every Time for This Loan Officer

Mario Barberio

The Producer Profile series looks at the careers and strategies of the loan officers in National Mortgage News' 2016 Top Producer rankings. This week we talk to Rosalie Rains, a managing director at Capital Financial Advisors in Malibu, Calif.

This is Rains' first appearance on the rankings. Last year, she originated 40 loans totaling roughly $120 million, placing her at No. 50 on the 2016 Top Producers list.

Tell us about your most creative or successful marketing strategy. How did you come up with the idea? What were the results?

My most successful marketing strategy was a simple two-color flier sent to my local neighbors. I made it on my PC using Word Art; it's so simple it's almost painful. At the time, my broker told me it was just too cheesy and it wouldn't work. The flier produced more than $60 million in loan production the first year and to date I have over 100 repeat customers who have followed me over 20 years. It is still my go-to flier when things get slow and it never stops working. My strategy has always been to be friendly and honest. I truly care about the situation and want to help if I can. The only time that doesn't work is if the client is a shopper and you aren't going to land them anyway.

What's unique about the local market you serve and what do you do to address those needs?

My local market is full of entrepreneurs and self-employed borrowers. Since Dodd-Frank, we have been over-regulated and the self-employed borrower has virtually been cut off from lending in the traditional banking environment. Our strategy here is knowledge and credit. If you truly understand credit and underwriting you can make sense out of most borrowers' tax returns and help walk the bank underwriters through the income. If you have knowledge and truly understand how corporate tax returns work and pass-through entities, you can follow the money and get the borrower qualified. Many lenders have strict set of boxes they have to check off and if you can work with a portfolio lender with a seasoned credit team it can make all the difference in the world.

Tell us about an unusual or difficult loan scenario and what you did to ensure a successful closing.

Every loan these days is considered unusual and difficult. I approach every loan as if I were climbing Mount Everest. If I am prepared on the front end I can handle just about any dodgeball that comes my way.

What do you know about the mortgage business now that you wished you knew when you started out?

If I knew the biggest recession in history was coming I would have worked harder and paid off my house. I have been stuck in my adjustable mortgage since the recession. It's a good loan but the uncertainty scares me. I will always make money because I am just that kind of person but as I get older I understand the value of living beneath your means. I am not frivolous by any stretch, but I think there is always room for improvement, and this is good experience to pass on to my borrowers.

Who is someone in your life, personally or professionally, who helps contribute to your success?

My fiancé, Walter Tharp. He ran wholesale at a national lender prior to the crash and his credit experience has been invaluable to my business. He shows up every day and runs the credit piece of my business and adds a corporate swagger to my business that it never had. I call him my ringer because let's face it: this is a man's world and this is a woman-owned business. Sometimes you need to kick the ball over to a man and let him run with it. I do and it works really well. We are a great team.