“Today Was a Home Run”

Last year, Manny Foranoce, an 18-year mortgage professional, was working on loans for agents in two RE/MAX Supreme offices in New Jersey when Broker/Owner Mark Scuderi mentioned he was thinking about buying a Motto Mortgage franchise. Foranoce was intrigued, and the two men soon found themselves in Denver learning more about the new brand.

Things moved quickly from there. Today, Motto Mortgage Supreme is nearing its first anniversary in Phillipsburg, New Jersey, and Foranoce serves as one of its two loan originators. The brokerage operates in the same building as one of Scuderi’s RE/MAX offices. “It’s working out extremely well,” Foranoce says.

Here are Foranoce’s thoughts on a number of things:

On leaving a retail brokerage for a Motto Mortgage office

I was very happy with the retail mortgage company I was with before. And if the opportunity to be part of a Motto Mortgage office hadn’t come along, I’d probably still be there. When Mark approached me about Motto Mortgage, my attitude was, ‘I don’t know if it’s good or bad, so let’s go out to Colorado. Let’s see what it’s about before we make a decision.’ And on the flight home we talked – and it was all positive.

On getting started

Our attitude was, ‘Let’s do this. Let’s knock it out of the park.’ We knew it would take time to get systems in place and work out the kinks, but we were actually up to speed in about 90 days.

On what makes his Motto Mortgage office different

You want to surround yourself with the right people. In the mortgage world, it’s hard to find a manager who supports you. Working with Mark, I know he’s got my back. When I’m recruiting loan originators, I mention that there’s a guy here who’s going to have their back. They don’t understand the concept. Like, it’s not possible! Most loan originators don’t get that kind of support.

On maintaining relationships with real estate agents

I’ve always made it a point to go above and beyond for my clients, but also for the real estate agents I work with. So when I moved to Motto Mortgage Supreme, I talked to the agents about it. I said, ‘Listen, this is what I’m thinking about doing. What do you think?’ They were all in favor of it, and they stayed on board with me. I still maintain my relationships with them. At the end of the day, they just want to know their deals are getting done and their clients are treated right. When there are fewer hoops to jump through, they’re even happier.

On working close to a real estate brokerage

I worked with quite a few of Mark’s RE/MAX agents before joining Motto Mortgage Supreme, and now a few more have been giving me a shot. Yes, it’s nice to have the connection with the real estate brokerage, but I still have to do my job. I can’t just coast along; I need to perform. In this business, you have to respect your clients and give them great service. If they go back to the agent and say you fell short, you’ll never get another referral from that agent. But if you do a great job, you’ll get more referrals from the agents you work with.

On being able to make a difference

A deal I closed today was a highlight for us, because three banks couldn’t get it done. But we did. It wasn’t a big loan amount, but it’s really not about that. The buyer was my Little League coach 40 years ago. He worked with my father. He’d been in the same house for 50 years and his wife passed away, so he wanted to move to a condo about a mile from his children and grandchildren. It was nice to help make it happen. The guy was actually in tears at the closing. Everyone in the room – the attorneys, the real estate agents, the family – thanked me because the financing had been stalled for months before it came to us. We got involved and figured out how to get it done right. And we helped get this guy into his condo. Today was a home run.

On working with wholesale lenders

The wholesalers really compete for Motto Mortgage business. They realize the potential of a mortgage brokerage associated with one of the largest and most productive real estate networks. It opens avenues for us that retail mortgage companies don’t have. It gives us an edge.

On the Motto Mortgage culture

[Motto Franchising, LLC President] Ward Morrison has been great. When Mark and I visited the Motto Franchising headquarters, the attitude of everyone there was like an infomercial. I thought, ‘Nobody’s this happy; it can’t really be this way.’ But I’ve come to learn it is. The atmosphere at Motto Headquarters really is that way, and it translates down to the local level. It’s a different attitude and a pleasant way to do business. I’m happy I made the move.