In the past few years, blogging has reshaped the depth and scope of communications at all levels of society. Mortgage banking is not immune to the blogosphere's power, and a growing number of bloggers are using the Net to share news, comments and concerns on the state of the industry.
One of the most prolific mortgage industry bloggers has been Robert D. Ashby, president of Solid Rock Mortgage Corp. in Penbrook Pines, Fla. A certified mortgage planning specialist, Ashby runs a pair of mortgage industry-related blogs (The Florida Mortgage Report and The Florida Mortgage Daily) and contributes to two more (Lenderama and Agent Genius). MortgageOrb spoke with Ashby about how blogging has reshaped his life and what it can offer to other mortgage experts.
Q: Tell us about your blogs and your Web audience.
ASHBY: I run two main blogs, one called Florida Mortgage Daily (www.floridamortgagedaily.com) and the other is the Florida Mortgage Report (www.flmortgagereport.com). I started the Florida Mortgage Report to provide educational assistance to those seeking it. I strive to provide the truth behind the latest fads, provide strategies and challenge readers to think differently.
The main goal is to get readers to realize that their mortgage plays a major role in their overall financial and investment plans and how their decisions can make or break their financial goals. I have only recently began tracking numbers of readers, but I plan on getting it to 1,000 by the year's end.
I began Florida Mortgage Daily as a way for my clients to get a quick update on what is happening in the mortgage market for various reasons. Some decide to float their loan and want to know when to lock (although I take care of that anyway), others are trying to time the refinance. The blog has evolved into one other mortgage professionals read as well, and has led to my contributions at Lenderama (www.lenderama.com) covering the mortgage market. As for number of readers, I really have no idea as I never thought to track that site.
Q: You recently profiled the case of real estate blogger Lucas Lechuga being sued for $25 million by a Florida condo developer. Do real estate-related bloggers have that kind of influence to justify such legal action?
ASHBY: Blogging can be very powerful, but it can also be very damaging, and Lucas' case is the first I have heard of a blogger being sued. I think bloggers who continually post false or misleading information should be held accountable, though not necessarily financially.
The problem with Lucas' case is that it could set precedent for future cases. While Lucas may have provided erroneous information, which he updated once he became aware of it, the question of free speech and so on comes into play. Personally, I don't see how Lucas or any other blogger can be sued, unless they have violated a law somewhere, and I haven't seen that in this or any other case to date.
Q: There is no shortage of news relating to mortgage banking. How do you determine which stories to write about?
ASHBY: I simply write on whatever catches my eye, with my focus on my target audience. I adapt my postings to the feedback I receive and have lately been moving more into the overall financial planning spectrum with my newest series, Flight Planning Your Retirement. I will eventually be providing case studies and real estate investing-related posts, among other things.
Q: Have you been able to use your blogging to build sales leads for your company, Solid Rock Mortgage Corp.?
ASHBY: I do not focus my blogging to build business, but rather to provide content I feel will be valuable to my readers. Personally, I believe in the give-and-receive philosophy, so as I provide valuable content, I will likely have clients contact me, which I have. The majority of those that do contact me are outside the state of Florida, so I can only provide advice, which I do as much as possible, again as part of the give-and-receive, which I have gotten spectacular testimonials in return.
Q: What advantages could mortgage banking professionals experience by starting and running a blog?
ASHBY: I have always said that blogging should be an extension of you. Mortgage professionals should maintain a blog that demonstrates their level of expertise, knowledge, and builds trust with their readers. If they do that, regularly, it can be a lead-generation machine, but don't let that be your focus or you will likely turn people away.
The other benefit is you can have fun with your blog. But be careful – it can be addicting!
