What separates Rodrigo ‘El Zorro’ Ballon from other mortgage lenders? For one, he’s responsive. He answers his phone on nights and weekends—and has systems in place to field calls when he’s not available. He does his homework, making it a point to learn about the agents he’s prospecting. And he’s fast. Rodrigo’s average close is 14 days, beating the industry standard by a full week. So, how does he do it?
Connect with Founders Club Host Oliver Graf on Instagram: @OliverGraf360
Rodrigo is the Producing Branch Manager at CrossCountry Mortgage and one of the top loan originators in the United States. In 2014, he ranked #1 for purchase volume in San Diego Country, and his team has closed more than $100M in volume every year since 2011. Rodrigo has also received numerous awards from San Diego Magazine and Five Star Professional.
On this episode of Founders Club, Rodrigo joins Oliver to explain how he built a world-class lending business and why investors, agents and consumers like working with him. He shares his automated systems for communicating with clients and marketing to an agent’s database as well as his extra-mile approach to prospecting realtors. Listen in for insight on how to qualify for a mortgage loan and learn about the non-QM loan products available to business owners and entrepreneurs!
Key Takeaways
[1:13] How Rodrigo built a $100M/year lending business
- Start as admin assistant for loan officer
- Rely on sphere as loan officer in downturn
- Known for ‘impossible loans’ (El Zorro)
- Largest lender for flippers in 2011
- Met agents through working with investors
[12:20] Why people like working with Rodrigo
- Reliability and perseverance
- Track record of closing quickly
[15:18] The tech Rodrigo uses to communicate with clients
- Video text to client with iPhone
- Automated systems to contact agent leads
[22:59] Rodrigo’s insight on delegating email response
- READ folder for things he needs to address
- Assign to people you trust, know you well
[29:06] Rodrigo’s approach to prospecting realtors
- Do recon on Facebook to find things in common
- Research current lender, average time to close
- Gifts with WOW factor (e.g.: champagne)
[37:21] How Rodrigo compensates agents for referrals
- Send buyer referrals to sphere
- Support agents with marketing systems
[44:30] Rodrigo’s availability on nights and weekends
- Answered phone when wife in labor
- Pop by open houses with cookies
- Stop what doing to qualify client NOW
[49:25] How Rodrigo facilitates a 14-day average close
- Get loans approved ahead of time
- Rely on backend team to handle volume
- Leverage experience (don’t rely on underwriter)
[57:10] The ‘free money’ available via loan products
- Bank statement loans for entrepreneurs
- 680 credit score + 10% down to qualify $1.5M
[1:03:20] Rodrigo’s advice on qualifying for a mortgage loan
- Manage credit (don’t max out, pay on time)
- Don’t buy car or change jobs
- Consult with mortgage banker for credit simulator
[1:16:44] How to reduce your mortgage from 30 to 22 years
- Make two additional payments per year
- Write separate check, specify ‘apply to principal’
[1:19:17] What Rodrigo is investing in
- Green investments
- Ground-up development in Utah near ski resorts
[1:23:45] Rodrigo’s top tools for running a business
- Crisp keyboard templates
- WhatsApp for foreign national clients
- Dropbox for security
Connect with Rodrigo
CrossCountry Mortgage
Rodrigo on LinkedIn
Connect with Oliver
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