by Ralph Lovuolo

  What really hit me head on at the Phoenix convention of the National Association of Mortgage Brokers was the number of actual mortgage brokers whom attended the conference. This little secret is interesting to discuss in that brokers were sorely lacking in attendance. It seemed that everywhere we walked, there were masses of people who serviced the industry. I walked in and out of almost every concurrent session. For photo's, to listen and observe, and what I heard and observed was disappointing. We somehow need to get the word to every mortgage broker that attendance at these events will help improve their business, and as part of any good business plan, attendance is almost mandatory. 
The sessions that were best attended were those that gave advice on the Internet, technology, FHA/VA and net branches. Some of these sessions, however, were merely commercials for the speaker to easily inculcate his company's philosophy of the mortgage business, rather that to teach what the subject was about. I was generally displeased. 

Being a person with a history of ideas about learning, change and motivation, I was really dismayed at the attendance at most of the sessions. Conversely, it was great that the major players, FNMA, FHLMC, Countrywide, Interfirst, Trans Union, Bank One and Associates still have great parties. The ball game was terrific as Sammy Sosa hammered his 20th home run of the year, charging the crowd, but disappointing the local patriots. The Interfirst Ranch party had lots of dancing and singing. The Countrywide party was big enough to allow every conventioneer to eat, drink and socialize to their hearts content. And James Carville and Mary Matlin gave an interesting and humorous talk. 

But my mind runs to the attendees. I must ask the NAMB leadership to take a hard look at the purpose of the convention, the reason why they meet annually. It is NOT to make as much money as they can from the vendors, but to service the vendors needs. A used to be friend of mine once told me that if you give people what they want, they will give you what you want. In this case, the brokers need information, great gooey gobs of gleaning which have been harvested from the fields of intellectual grain growing all over America. 

There is the further need to make this meeting more affordable to the masses. It requires a need to look at where the event is held. There is the necessity to be in a place where people can travel for a relatively inexpensive fare. For if that is not what is done, the brokers will continue to stay away in droves. I've been honored to attend many successful state and regional events. Maybe the NAMB should consult with those who are organizing those events to find out what brings the people.

 SHOULD THERE BE A NATIONAL CONVENTION?

Maybe the purpose of a national event has run its course. Maybe the better idea is to have three or four regional events, which will better serve the client- mortgage broker. This bolsters the states, even after having their own statewide convention, to be advocates of a regional event, and national can take a show on the road three or four times a year.

 Many of the booth attendees related to me that the primary reason for their attendance at national, was to meet the other booth-takers, not the brokers. And the speakers. Is anyone doing any research, any at all on the quality of the speakers? Having spoken at numerous events, it's my experience that the lecturer usually is briefed about one hour before their seminar. By then, they've already written and rehearsed what they are going to say, and most of the time they talk about their own company.  Most of the time a speaker is given a forum for a uninteresting hour-long corporate infomercial. Speakers need to be properly instructed about their role. And even before that, speakers need to be carefully selected, both as to their ability to carry a message and the proper selection of the topic. 

When will there be a start to service the client? When will there be a start to see that what is taught is what is learned, and what is learned is what is practiced? If brokers are taught that their leadership doesn't really care about their needs, how are they going to care about their own clients needs? 

Ralph LoVuolo 565 Constitution Dr. Smithville NJ 08201800-424-6271 fax 609-652-7937