Good Neighbor Podcast: South of the River
Bringing Together Local Businesses and Neighbors of South of the River
Good Neighbor Podcast: South of the River
EP #106 Mastering Mortgages with Jeff Winship, the Mortgage Loan Ranger
Ever wondered how the "Mortgage Loan Ranger" tames the wild frontiers of real estate financing? Meet Jeff Winship, our guide through the twists and turns of the mortgage landscape. In our latest episode, Jeff shares the origin of his catchy moniker and how it embodies his commitment to fighting for his clients' best interests. Learn why the saying "date the rate, not the house" might not be as wise as it sounds, and get the lowdown on why understanding refinancing costs is crucial. Jeff also sheds light on the significance of monitoring mortgage-backed securities, providing insights far beyond what you hear in the general media.
We also share some laughs over the quirks of Jeff's name and the humorous spelling blunders it often inspires. Our conversation highlights the strength of our collaborative relationship and our shared dedication to referring clients, painting a picture of a dynamic professional partnership. This episode is packed with wisdom for anyone navigating the complex world of mortgages. Whether you're a seasoned homeowner or a first-time buyer, you'll walk away with valuable knowledge from Jeff's extensive experience and dedication to his craft. Tune in and discover the keys to making informed real estate decisions with the expertise of the Mortgage Loan Ranger by your side.
Rocket Mortgage
Jeff Winship
100 Fuller Street South, STE 155
Shakopee, MN 55379
Phone#: 612-558-7334 (cell)
Jeffwinship@rocketmortgage.com
Website: www.jeffwinship.com
This is the Good Neighbor Podcast, the place where local businesses and neighbors come together. Here's your host, Mark Bratton.
Speaker 2:Welcome to the episode number 106 of the Good Neighbors Podcast. And dang, we got a great neighbor for you today. Jeff Winship, the mortgage loan ranger, is with us to talk a little mortgage time. How you doing there, Jeff?
Speaker 3:Doing outstanding, mark, thank you. How about yourself?
Speaker 2:Oh God, it's been a crazy day, crazy week. It's getting cold up here in Minnesota nowadays.
Speaker 3:I feel honored to be episode 106.
Speaker 2:Yeah, well, I'm happy to have you here, because we have a whole lot of people that have all kinds of questions about real estate mortgage funding nowadays. This is perfect timing to get somebody like you to share the insights of mortgage. What do you think?
Speaker 3:I think it couldn't be a better time. It's always the right time for a mortgage or for buying a home.
Speaker 2:Oh gosh, yes, it doesn't matter, right, you just got to be strategic about it, exactly. I guess we're going to start right away by telling us how, and maybe why, you got into the business.
Speaker 3:Why I got in the business and how I got in the business are probably the same thing. I fell into it. I was one of those students that really didn't know what they wanted to do in life and had tried a couple of different things. And a buddy called me and he says hey, I think you should check this out. It was a company called Sam Boy Financial back in 1998. And all they did was second mortgages, so they didn't even do a first mortgage. I tried to bring a first mortgage in, a little $60,000 mortgage in Mississippi, and it sat there for two months because they didn't know how to present it or how to work with it. From there it's been 26 years of mortgage lending multiple companies. But ultimately, why I do it? I love helping people and there's no better. You can't put a number on getting somebody into a home when they don't think they can be, and then, in my opinion, there's just no greater honor out there and I get to do it all the time.
Speaker 2:Yeah, I've obviously been with you a few times and I agree with you, but tell us a little bit about this Mortgage Loan Ranger title.
Speaker 3:Yeah, that's an interesting one. It horrified my wife and my kids when I decided that I was going to do it. You know, in my opinion, like many industries, mortgage lenders or loan officers, as we're called are a dime, a dozen in terms of how we're perceived, and so I wanted to do something that could make myself stand out and, at the same time, market myself, because, unlike the big companies, I don't have those funds to be able to constantly pay for that advertising. So I thought why not be the mortgage loan ranger? That way it's all inclusive, it tells what I do. But what did the loan ranger do? For those that are old enough to remember, he fought for everybody, for their justice, right, and so that's what I'm doing for my homeowners. I'm fighting for them, literally. Quite often.
Speaker 2:That's an awesome way to put it. I guess I never heard that from you. Maybe you did, but wasn't listening. But that's incredible. And, to put it, I guess I never heard that from you. I maybe did, but wasn't listening. But that's incredible and it leads me into you know I I've been around this industry listening to everybody out there, but there's always these things they talk about that are myths or misconceptions. Share with us a few of those that you hear that can guide somebody saying, hey, don't listen to that stuff. This is what's really happening, because interest rates go up and down, buyers and sellers change, locations change, weather changes. So tell us some of the things you hear out there.
Speaker 3:I would say the number one misconception is when people say date the rate, not the house. It drives me crazy that people are so focused on that statement, and the reason I say that is because so many of my colleagues have people under the impression that they can just refinance down the road. And yes, you can. But like anything it comes with a cost, and so a couple of assumptions are made when you're doing that. One, you have to assume that the home is going to continue to appreciate in value. Homes while they are appreciating over the last four or five years, it's not going to be that constant that you can rely on. And two, the cost. There's still a cost to refinance that home and it's going to come out of your pocket or it's going to come out of the equity that's in the home. And so that's the one that I just it makes me cringe when they say date the rate and not the house.
Speaker 2:Yeah, I hear people saying, yeah, the rates went down. And then all of a sudden you talk to a professional like you and say, yeah, that went down on the news and media, but in reality it hasn't gone down yet or whatever. So what do you do with those situations? You hear it all the time.
Speaker 3:Well, and I think that's why it's important to work with a professional like myself. I subscribe to a service called MBS Highway, where I monitor the mortgage-backed securities and, contrary to what most of the media even again my colleagues they look at the 10-year treasury, and the 10-year treasury is important. It is an indicator of what mortgage rates are doing. But if you truly want to know, it's the mortgage-backed security, the bonds, that drive the mortgage rates, and I watch the chart by the minute, by the hour, by the day, and that is not something that Rocket provides for me, rocket Mortgage, who I represent. That is something that I invest myself and that way, when I'm working with clients, they know that I'm looking out for their best interest, because everybody wants the lowest rate. But ultimately what happens is you get it on the way up and not on the way down.
Speaker 2:Love it, love it, love the way you brought that to the light of everybody. So how about? You know you work hard, I know you do, I've seen you around you serve here on all the networking and everything else. But what do you do for real fun, jeff?
Speaker 3:Well, I got a couple of hobbies. I love to bowl. It goes back in my family well over 70 years. At one time I used to bowl with my grandfather and my dad at the same time. So I'm proud to say we had three generations of bowlers.
Speaker 3:That was on Wednesday nights until I decided a few years ago well, probably 20 years ago now to switch it to Tuesday nights. But I've done that for almost 50 years myself. Not great, but you know I can hold 190 average, so that's not too bad for just bowling once a week. And then I would say my other love is motorcycling. Absolutely love to ride. I've got a Kawasaki Vulcan Voyager. For those that aren't the foreign bike fans, it would be equivalent to like a Harley Davidson for about half the price.
Speaker 2:Nice, nice. So you get to go and roll the ball down the lane. Do you get a 300 yet, or not?
Speaker 3:Best I've ever had is a 289. I started out with a spare and threw 11 in a row after that. Maybe that's as close as I've come. I've had probably 18 or more thrown against me in my career. Apparently, I bring out the best in people I don't know.
Speaker 2:That's right. That's right. Well, that's awesome. That's awesome. So what are some of the groups that you serve when you? Obviously go in. I know you're involved with networkings and are there chambers? Obviously go in. I know you're involved with networkings and are there chambers. Are there some other things that you like to hang out and share your expertise to and with?
Speaker 3:Well, yeah, I think you hit on a great point. Networking is one of my favorite things, and the best part of networking isn't really what it will do for me, but it's what it will do for my peers. And how can I introduce Mark Broughton to somebody that I just met and has something that can be a benefit for you? I do serve on the Shakopee Chamber. I'm part of that. I'm in a local networking group called MINT, which is the Metro Elite Accountability Networking Team. I'm the president in our newly formed Minnetonka chapter this year, formerly Eden Prairie and then I also am on the leadership in Eden Prairie for another networking group called Accelerated Global Connections, which is it's more of an open networking style where you could have four or five of me or you know loan officers in the same setting, whereas the Mint, where I'm a president, that one is one membership. You know, one category. Basically, one member per category is a better way to put it.
Speaker 2:God, I knew we were on the same team that way, because I love those. I go to them for similar reasons. It's not so much that referral is great and I appreciate that all the time, but, man, I just get. I get so motivated by people and what's happening in their lives and around them. And when something tough is happening in your life, it's nice to have 10, 12, 15 people around you that will just be quiet and help you. So, and I know you're one of those guys, so I appreciate you and part of the reason why you're here with us today. But so that'll again lead us into something else. Is there anything in your life? I mean, you've been in mortgage forever. You're bold, forever, you're dedicated, but was there anything challenging in life, a hardship or something that drove you to mortgage? Or you just do it because you're interested in it?
Speaker 3:Well, I don't know that anything drove me to it, but I think it's one of those things where you know your God-given talent comes through. I'm great with numbers, I can do numbers in my head. I can work up, I've worked up. You know what the offer should be for a house with seller paid closing costs over the phone and been within dollars for it. And I don't say that to brag, but again, it's about having somebody who is an expert that's in your corner and is going to work in your best interest and not their best interest. And I don't chase dollars. I don't care if it's a hundred thousand dollar loan or a million dollar loan. I don't care if it's a hundred thousand dollar loan or a million dollar loan. I treat my clients the same every time they're going to get me, if they call me at 10 o'clock at night or at 10 o'clock on a Saturday morning or Sunday morning, so take a lot of pride in that type of service.
Speaker 2:Yeah, dedication, and obviously numbers is big time for your industry, absolutely so. You know we're running down towards the end of our podcast here, jeff, I want to make sure if there's one thing that you want all our listeners to remember about you and your business, what would that be?
Speaker 3:Transparency.
Speaker 2:Excellent, excellent. I'll second that, too, with anybody that's on this podcast. When you meet Jeff, he's probably one of the most transparent guys and he'll lend a hand every time you ask. So I get that. So let's tell everybody how to get ahold of you. They need to get ahold of the Mortgage Loan Ranger, jeff Winship.
Speaker 3:All right. Well, you can find me in a few places. You can look me up online under Jeff Winship under Google. It'll pull you to my website, jeffwinshipcom. I have myhomelonerangercom as well. Probably a surprise to you, mark. They all go-7334. If for some reason, you have a hard time remembering the 7334, it actually spells refi. And, yes, I did that on purpose in 2002 so that if I ever did advertise I could say 612-558-REFI, because I always thought that was just kind of cool. And then, of course, you can always meet by not meet, but you can reach me by email. That's Jeff Winship and I'll spell Winship, because it's win, like you win a race, w-i-n. And then there's no D. For some reason people like to put a D in there. Ship, like you take a cruise. S-h, rocketmortgagecom, all spelled out.
Speaker 2:I love it. I love it Win. We're going to win today and we're going to get on a ship and maybe have some fun. So with that, that ends our awesome podcast with the mortgage loan ranger, jeff Winship, and I look forward to seeing you down the road and referring plenty of people to you. Jeff, have a great, great afternoon.
Speaker 3:Absolutely, and thank you for the opportunity to be on here, mark, and I look forward to sending more people your way as well.
Speaker 2:You got it brother.
Speaker 1:Thanks for listening to the Good Neighbor Podcast South of the River. To nominate your favorite local businesses to be featured on the show, go to GNPSouthoftherivercom. That's GNPSouthoftherivercom, or call 952-592-3737.