Legacy Lending Brings on New Branch Manager, Nick Gorden
Boise, ID (PRWEB) March 22, 2012
Legacy Lending Group brings on new Branch Manager over marketing, former small business owner and consultant, Nick Gorden, to help guide Legacy Lendings future growth. While many traditional mortgage shops are struggling or preparing to close up shop, Legacy Lending Group has seen unprecedented growth over the last 24 months. An enormous amount of their success stems from the niche products they have successfully been able to market, namely, the US Department of Housings FHA Streamline Refinance, which allows FHA borrowers to bypass the traditional appraisal required on conventional loan refinances. Legacy Lending can attribute a large portion of their growth to their creative combination of multiple marketing mediums to advertise and promote their products and services.
When we started this whole thing, we asked ourselves a single question: What product or service do potential customers need most at this time? And then the follow-up question: What is the easiest way to give it to them? After looking at all the different loan options and programs, we settled on the FHA Streamline. That decision alone allowed us to specialize in one thing and become experts rather than trying to be all things to all people, says Nick Gorden, Branch Manager, Legacy Lending Group.
At this time, 90% of Legacy Lendings primary business revolves around HUDs FHA Streamline Refinance. Legacy Lendings success has come from their ability to get the banks to pay for the borrowers closing costs, which is extremely rare in a lending world where banks want to make more and pay less. Most of the time were able to structure it where the borrowers closing costs are paid by money from the bank, which makes it a very easy decision for most people,” says Gorden.
Prior to entering the mortgage industry, Nick was engaged in various forms of marketing and advertising as both a small business owner and as a consultant to other small businesses. At 24 years of age, he dropped out of college just 18 credits short of graduation to start a Dish Network dealership in Provo, UT with a close friend. From there, he never looked back.
I always had intentions of going back and finishing off those 18 creditsI still dobut my business and family both grew so fast that I still havent been able to make it back to the classroom.
Apparently, lifes classroom has given him an excellent education. His satellite company grew to over 80 employees, four Western branches and several million dollars of revenue before he ultimately sold his share of the company to his partner in 2008 to pursue other business ventures. In 2010, with so many people getting out of the mortgage industry, he decided this could be the perfect time to get in and capture some of the market share.
Nicks marketing logic stems from one primary tenet: The small business owner must think of him/herself first and foremost as a marketer.
The problem with most small business owners is that they forget that their primary job is to market and sell their product to their customers. This task usually gets pushed to the side with all of the other responsibilities of a small business owner. Believe me, I know. Ive been there. But if you dont think of yourself as a marketer, then its going to be a long, hard road.
Nick Gordens marketing expertise falls into the unusual niche of marrying direct response marketing with other traditional marketing mediums, namely direct mail and Internet marketing.
One of the biggest problems with marketers is that they only employ one medium to get their most important message to their clients. In todays fast-paced world of lending, potential customers must hear from you on all sides, especially when youre competing with big banks who have virtually unlimited marketing budgets. Our primary success has come from delivering our message in several different forms to the same person, without them necessarily being consciously aware of it.
Starting with a marketing budget of only a few hundred dollars, Nick Gorden has multiplied that budget several times over to approximately $ 40,000 per month spread across half a dozen different marketing campaigns. Legacy Lending Group has gone from a dozen or so loans a month to over 60 funded loans per month. And theyre just getting started! By the end of April, Legacy Lending Group will have 14 loan officers and is projected to have well over 100 funded loans per month. Legacy Lending Group opened their second branch a few months ago and later this month plan to open their first branch outside of Idaho in Salt Lake City, UT.
There is no doubt in my mind that we have the best Loan Officers in the business. Id put these guys up against anybody when it comes to experience, expertise and customer service.
And with Nick Gorden at the marketing helm, you have to believe the skys the limit.
Legacy Lending Group is a division of Pinnacle Capital Mortgage Corporation and an Equal Housing Lender. Legacy Lending specializes in residential home loans throughout the Western United States and sets themselves apart by their extreme level of transparency and quality service they provide to their clients through their well-seasoned Certified Mortgage Advisors. Legacy Lending excels at customizing loan products and services to fit their clients unique and individual needs. NMLS 81395.
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