In this week’s episode, John, Bryan, and Steve, sit down with President and Founder of The Knowledge Coop, Ken Perry, to discuss their role in educating the mortgage community and the importance of compliance and managing your social media.
Founded in 2003, The Knowledge Coop was developed to provide information in a world without sufficient training and with vast misinformation. According to Ken, everything at The Knowledge Coop is based around education and building learning communities where individuals can grow together.
He explains the need for this type of company, sharing that the world has changed but the training in the industry hasn’t. And that because of this, there is a huge need for education that is not only true, but that is entertaining and engaging.
Bryan asks Ken what knowledge he sees that is lacking, from a Rookie perspective? And what do they really need to know in order to make the biggest impact?
Ken explains that the average age of Loan Originators is decreasing, and they are welcoming many new Originators who are coming from industries that were deeply affected by the COVID-19 pandemic, like the hospitality industry. Because of this, there is an influx of new LOs with little to no knowledge, who need to be educated.
His thoughts on training? Read, read, and then read some more. By learning all you can about the industry and gaining extensive knowledge, you’re already ahead of the game. Knowledge is everything. The men even share that there are instances where LOs have been able to come in and rescue a loan, simply because they are equipped with the right knowledge. Knowledge is power.
The men go on to discuss how they can best help new LOs with varying skillsets. And with that, they agree that the best way is to uncover what each person’s natural skillset is and help them find a way to win with that by catering to their strengths. Ken also stresses the importance of sharing knowledge. He says that if you find something amazing, you need to tell people about it. Be the expert.
Bryan asks Ken what he is seeing in the lending industry now regarding compliance? Ken shares that we are seeing a big change and can expect to see many mortgage companies waking up to the fact that they have remained unchecked for four long years. With Freddie Mac and Fannie Mae teaming up to tackle fair housing and fair lending cases throughout the country, mortgages must realize that what was working in the past, no longer is. The time to adjust is now.
Lastly, Steve asks Ken what differentiates The Knowledge Coop from all the rest? To which Ken replies, “It’s all about Social Learning.” He goes on, “It’s not about feeding people what you need them to know, it’s about engaging your community, creating a community inside of your company where people can pass back information. Also, we deliver most of the content – and it’s funny. Because we wouldn’t produce something we wouldn’t watch ourselves.”
Your co-hosts are Bryan Lovell, National Director of Business Growth at VanDyk Mortgage, and John Jones, Florida Regional Manager at VanDyk Mortgage. Bringing you the latest insights into the home industry! This Podcast is for Brokers, Lender, Realtors, Clients, and those who want to create homebuying success.
Check us out on social media:
• Facebook: www.facebook.com/Contacts2Contracts
• Website: ctcpodcast.co
Bryan Lovell:
• Personal Facebook: www.facebook.com/bryan.lovell.56
• Linkedin: www.linkedin.com/in/bryanlovellteam
John Jones:
• Personal Facebook: www.facebook.com/johnjonescb
• Linkedin: www.linkedin.com/in/johnjonesvandykmortgage/
Disclaimer:
This podcast is sponsored by VanDyk Mortgage Corporation NMLS# 3035 | nmlsconsumeraccess.org | Equal Housing Lender | VanDykMortgage.com | 2449 Camelot Ct. SE, Grand Rapids, MI 49546 | 888-482-6395
