The Producer Profile series highlights career anecdotes and insights into the success of the loan officers who appeared in National Mortgage News' 2016 Top Producer rankings.
This week's edition features Michael Stallings, a mortgage loan officer at HomeBridge Financial Services in Peachtree, Ga.
This is Stallings' first appearance on the Top Producers list. Last year, Stallings originated 221 loans for a combined dollar volume of approximately $50 million, ranking him
Responses have been edited for length and clarity.
Tell us about your most creative or successful marketing strategy. How did you come up with the idea? What were the results?
In 2010 we decided to focus on military veterans. In order to achieve the goal of serving veterans we decided to work a market two hours from the office surrounding a military base. In order to market ourselves in this market where no one knew us, we used a grassroots strategy of networking with attorneys, builders, Realtors and virtually anyone that was involved in real estate.
Rather than spending money on mass advertising, we took them to lunch, dinner and drinks — really anything that would help to build relationships. In 2010 we had no loans in this market. In 2015, we closed 133 loans as a direct result of this campaign. We have since branched out to other military towns to accomplish our goal of serving veterans.
What's unique about the local market you serve and what do you do to address those needs?
Our local market has become much bigger than the metro area we serve. My focus is on Veterans Administration lending and serving both active duty and retired veterans. In 2015 we were looking for a way to give something back to them as a way of showing our support for what they do for us. We give back through the Homes for Heroes campaign and help to educate them financially to avoid the predatory temporary lending that happens with soldiers. We have now found that there are other heroes we can serve through this program: firemen, policemen, nurses, teachers, etc.
Tell us about an unusual or difficult loan scenario and what you did to ensure a successful closing.
Growing up, my parents never had a ton of money. I remember them buying their first home. My dad is a humble man who took care of his bills, but would have rarely had much extra for a down payment or closing costs. I can only imagine how difficult it was for him to work through the details of purchasing his first home.
I work with hundreds of families per year, but regardless of the buyer, I always try to picture my dad. I think about how important it was for him to provide stability to our family and the legacy that home left in our lives. I think about the fact that he just needed a little help and that help that he got was the leg up he needed to fulfill his dream of homeownership. He still lives in the house today.
Communication is key. No matter how difficult a loan may be, communication of all parties ensures a happy customer. At the end of 2015 the rain seemed to delay many new construction closings. Proper communication with the buyers and builders resulted in all parties satisfied.
What do you know about the mortgage business now that you wished you knew when you started out?
Anger in our business is almost always fear in disguise. The key to making someone happy is to help to remove the fear that caused the anger. I also wish that I had realized that the No. 1 job is to solve problems. They will always be there and the key is to be known as a problem solver. It's the key to gaining high-level trust in real estate.
Who is someone in your life, personally or professionally, who helps contribute to your success?
I have an incredible team. Their focus is on the families that we are entrusted to serve and making sure that their dreams of homeownership come true.
