Interview with “The Oracle of the Interest Rate” Barry Habib of MBS Highway

Interview with “The Oracle of the Interest Rate” Barry Habib of MBS Highway


Dave Sullivan here for the Michigan Mortgage Lenders Association Membership Committee
with special guest Barry Habib MBS highway. Great Barry thanks so much for coming out warm and wonderful Michigan, I want to
find out a little bit of your background you know how you started in the business
to now you have transitioned into this consultant role for the entire mortgage industry how long were you an originator and tell
me a little bit about when you started your company okay so got into the business probably pretty much everybody listening by accident nobody goes school this so we all kind of fell into it sat down
to guide your mortgage one-night said how do guy’s in your business do? before you know it was in the business
and started out trying to visit Realtors they didn’t really want to talk to young guy who didn’t know what he was doing so I actually knocked on people’s doors yes my third week in the business
wrote 16 loans by knocking on doors old school, I just tried talking to everybody I could I
think that that still holds true today in fact when you talk to as many people as
you can tell what you do that will translate a business. I actually use to get my card out to everyone including the toll collectors in New Jersey people laughed at me until one time toll
book collector called I did his mortgage then the whole new jersey toll booth authority started to call me for their mortgages so Certified Mortgage Associates Started that company in my twenties grew it it was a great company had a lot
of fun we’re doing some good numbers I
personally was doing some of the best numbers in the country at the time which I’m very proud of. Sold the company because had a dream had a vision to start up Mortgage Market Guide and then
obviously sold that and now I have MBS Highway as far as the consultative approach very
very early on as a way to differentiate myself and I think
that we still always need two different ourselfs people our starved for knowledge in 2015
informations everywhere but knowledge is a very very valuable commodity wisdom also, was there something that
triggered you to say you know what I want to make this transition go go further into moreover a consulting
role for the mortgage industry? I love the financial
markets and I felt that a mortgage was less about qualifying the technical aspects and more about what can you do with this money it
was the largest financial transaction you will
make in their lives yet they were treating it like a commodity right so what I tried to do is show them
ways that they can look at this in a in a wealth creation how can I
structure this debt as far as maximizing tax benefit,
retirement planning, college education and cash flow payments so we
took that approach is very different. People use to tell me all the time they said you shouldn’t really be doing that some that an accountant or their financial adviser you know what I am their financial adviser sure probably more than more than
anybody else nobody knows more about your customer
than you do sometimes not even their spouse but really when you think
about you know all their dirty laundry all their history what you know thing about meeting somebody
separately it’s a hey nice to meet you how much money you make? we do that every day are you you know
a how much we have in the bank that’s what I want to really know right
crazy yet we get to do that all the time and we need to harness that power right so
important and then you I actually wound up investing in the
Broadway musical correct? well you know I did some acting got a
roll in a movie called Barry Monday if you pull up the trailer Barry Monday I’m in the trailer a great role in that movie the writer
of the movie, Christopher Derenzo he brought the script of rock of ages to me
we went over it together I loved it, me and 4 other people we took it off Broadway
people went nuts for it. we said let’s take a shot took it to Broadway so I was general partner and lead producer on that We just close it but after six years 27 th longest run on the history of Broadway and five Tony nominations It was really a you know
somebody my age obviously loved it because it’s all the music we grow up with but everybody loved it we have young kids coming in people that are quite a bit older than I that really enjoyed it because it was so
much fun it was a Comedy we are still running in vegas and running in London and we’re hoping to put together. we have a
Norwegian Cruise Line show that we are working on and we are hoping to do something with a tour but not yet. and you have Constantine in some sort of roll? well that’s with me just for fun I have a
band believe it or not the name is rock of ages band. why not. of course
and I’ve got Constantine signing I sing so we have a great time together
so we will actually be in vegas playing Steven Marshalls event it should be fun! That is so cool, so you have transitioned back out into MBS Highway tell me a little bit
about MBS Highway and how people can follow you now. thank you for asking and MBS Highway
really really proud of I think it’s something that encompasses, all
my years of originating which you asked that question earlier so is over 20 years
originating over two billion dollars in production
personal production that’s me writing apps or me and my assistant. With much lower loan amounts by the way so it encompasses everything that I understand that the
financial markets gives you five min of coaching every day by video to subscribers unbelievable presentation tools it is
everything you need to really make a difference in your customers life beat your competition and improve
your production it’s a it’s a wonderful tool MBS highway.com thank you so much Barry thank you very
much for all you do!, my pleasure

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