Novum Home Loans

Don't make the same mistake I did when I was active duty. Back when I was an O-2 stationed in VA Beach in 2006, I had no idea I was even eligible for a VA Loan. Check out this story of the opportunity I let slip by. This is why we launched NovumMilitary.com. It's truly unacceptable that so many Vets and Active Duty (like me in 2006) don't know about their VA Loan benefit. If you've served or you know somebody who did, please let them know about NovumMilitary.com. It has all the answers to the same questions I had when I was in your situation. Or just shoot me a DM like so many of you are doing...either way works!

We've been waiting until Veteran's Day to make a big announcement from Novum Home Loans...the launch of NovumMilitary.com! ???? This one is personal for me. I’ve experienced firsthand the confusion and frustrations many other Vets feel about their VA Loan benefit. It sucks to see so much confusion about one of - if not THE - best benefit us Veterans can use. ?? Here's a crazy stat....80% of Vets have never used their VA loan. That's 14.5M Veterans, and 1M of them are in my home state of Texas. That has to change. ?? NovumMilitary.com isn't just a business venture; it’s a commitment to helping my fellow veterans build a stable future with a place to call home. Every resource on NovumMilitary.com - from the VA Loan Guide to the FAQs - is crafted from personal experiences because I’ve walked this path myself. No ChatGPT BS answers, all of this was written by me, Tad Hensley, Don Conwell and rest of the Novum crew. If you have any feedback or questions - let me know and I'll get it added. I guarantee you're not the only Vet who has that question. This is one of those 15+ year projects, and it's long overdue. You'll see a lot more coming from us to the military community as we grow. Give NovumMilitary.com a look and let us know what you think. This is just the beginning of something special! ?? Go Navy! https://lnkd.in/gE3SaSMs

I read John Doerr's "Measure What Matters" and it's been an absolute game changer for how to problem solve. It sounds boring, but creating a set of organizing principles around how I approached problems created a ton of clarity about the problem itself...and whether it was even a problem ?? . Here's how we tackled "measure what matters" at Novum.

I've said it once and I'll say it again...the single largest problem to solve in real estate is communication. Maybe because it sounds like such a big, fluffy problem is why so many people are reluctant to tackle it. Per a recent JD Power survey... ?? 50% of poor NPS scores were attributed to bad communication as the primary reason ?? 64% of Homebuyers stated clear communication made them likely to refer their LO Communication makes or breaks the entire real estate experience for the buyer and agent. But somehow our industry seems to put all our eggs in the Operations basket when it comes to technology investments...slick Point-of-Sale, automated underwriting, appraisal waivers, etc. I'm not saying those things aren't important for lenders, but they don't seem to move the needle for buyers and agents. As for communication...it goes beyond telling LOs to "just answer the phone." That's like telling a football player to "just make the tackle." Lenders need to provide a system with tools to help their LOs have all of these convos. It seems like most CRMs are pretty good at managing client convos, but fall short when it comes to coordinating all the other convos an LO has with the buyer's agent, seller's agent, title, internal comms with processor, etc. Those all add up. We're building something different at Novum Home Loans and we'll continue to share our findings as they come in. We seem to be playing in a space that not many others are in this industry (solving communication).

There seem to be 3 types of Loan Officers in the mortgage industry: ?? 1. The vast majority of LOs are struggling. They're lone wolfs with little support from their lender, and they struggle to follow a general process (maybe something like CORE) to structure their day. ???? 2. "Unconscious" process oriented Loan Officers follow a process, but it lives in their head. They're using "the force" to manage a small team, who figures out how to support the undocumented process over time. These LOs are doing ok, but usually can't grow because it's tough to scale a process that lives in their head. ?? 3. "Conscious" process oriented Loan Officers follow a well documented process, they have systems and models in place. These LOs usually have mid-large size teams who are trained on their process, and thus can scale must easier. These LOs do well regardless of the market they're in. ??In order to create the "Conscious" process, it takes data, discipline and structure. But it's REALLY hard to get the data necessary to provide the clarity of what actions an LO should take next in their day. ??Why is it hard? Because most of that activity occurs on an LO's personal cell phone. The activity isn't tracked, therefore it's hard to tell an LO how to manage their day upstream from a loan application (where the tracking typically begins). Novum Home Loans is cracking the solution to this problem. We can track all (and I mean ALL) activities an LO has in a day, which allows us to generate insights to prioritize their next best action. This improves conversion and creates a unique experience for customers and referral partners (but they aren’t even aware of the tech we're using behind the scenes to provide our level of service). If you're an LO or agent who wants to learn more, shoot me a DM or reach out to Tad Hensley or Don Conwell - they're behind the curtain too and know how this works.

Stop thinking mortgage rates move w/ the Fed Funds rate. You're indexing to the wrong input. Here's why...

Lenders get asked all the time, "so what's your mortgage rate today?" Seems like a logical question, but people get frustrated that it's not an easy answer. ??♂? ??♀? Mortgage rates are based on a borrower's specific, individual, personal situation. Which means there is no "mortgage rate". ?? When you see a news article or a post about mortgage rates referencing a specific number (like 6.91% in the example below), that’s just an average based on surveys of multiple lenders. I used Mortgage News Daily for this example. Here's how it works: Lenders report what they’d offer for a 30-year loan to a specific type of borrower (for example: 760 credit score, 30% DTI, 80% LTV, etc.). Some lenders might offer 6.75%, some 6.875%, and others 6.99% for a borrower with that scenario. The average lands somewhere in the middle, in this case 6.91%. It works the same way when you see a rate advertised on a lender's website. They're using a specific scenario to advertise that rate...so be careful you read the fine print which should describe the specific scenario they're using - which may be different from your scenario. (Disclaimer: To be clear, nothing in this post is a quote from Novum Home Loans, it's all just examples. Don't sue me.) ? Remember: Your rate depends on your unique situation. Reach out to me if you want more details on how this could work for you or someone you know.

?? Think getting a rate quote is complicated? Think again! "It's Not That Hard to Get a Rate Quote," shows just how quick and simple the process can be. Whether you're buying a home or looking to refinance, we've got you covered with easy, transparent steps to get your rate in no time. ?? ?? #RateQuote #HomeLoans #MortgageTips #NovumHomeLoans

VA Loan limits....VA Loan entitlement...how does it all work? The terms can be confusing, so hopefully this video helps explain what it all means. BLUF: If you've never used a VA Loan before, or if you've totally paid it off then you really don't need to worry about it. ?? But...if you're currently selling your home and you still owe on your VA Loan, then you might want to look into what the terms mean. Especially if you're considering offering that 2-3% rate you got in 2020/2021 as an assumable loan. Head to our website or shoot me a DM if you have questions. Novum Home Loans

Novum Home Loans is starting to hit it's stride, and I thought I'd share some of what's working since so many in our network have helped us get to this point. ?? Real estate is a contact sport. Personal interactions matter to develop trust and nurture relationships. Communication is the problem to solve. There are no shortcuts here. ?? Data and insights are the key to gaining clarity. With clarity comes focus. Focus leads to success. Invest in building your data infrastructure. ??♂? Partner with people you trust, who know what they're doing and have a bias for action. A new company's greatest advantage is its speed. ?? Marketing doesn't need to be complex, but activity matters. 2-3 social media posts per week and weekly emails to referral partners are a great place to start. Find and refine your personalities and amplify them...video helps. ?? Original content matters. If you're using canned email content or stock social media posts from a third party, I doubt anyone is reading it. Pick a person you're trying to help and act like you're talking to them, in your own voice. We recently launched some new initiatives, and we're really looking forward to seeing how they perform. More insights to share as the data comes in. I guess if I had to summarize it would be: it's simple but not easy. Happy to help anyone who is interested in more details...or if you need a mortgage ?? #mortgage #stillnotsureifhashtagsdoanything Tad Hensley Don Conwell