Mortgage Marketing Tips: #48
Helpful hints for Great Customer Service

Getting referrals from your past customers is a proven way to build a dependable and highly profitable mortgage business. But you can't expect your past customers to refer you to their friends and family unless they have had a great, or at least good, experience with you.

Always work on improving your customer service and your loan processing system and you will always have a sales force of past customers pushing your business forward and helping you take home bigger checks more often.

Helpful hints for great customer service:

1. Make sure to fill out the 1003 loan application completely and accurately. Every line is there for a reason and most underwriters will expect to have it complete. Fill it out as if you were the underwriter. Paint as clear and accurate a picture that you can.

Underwriters will be more picky when they evaluate a sloppy file because they will be wondering what else you missed or did not disclose. The same goes for accuracy. Underwriters always seem to find the slightest inaccuracies in file, and when they do they will be much more skeptical about the rest of the file.

Show the underwriter that you know what you are doing. Think like they do. Ask yourself, what documentation would I want for this file? Would I be willing to make this loan if it were my own money I was lending? Be accurate and be complete.

2. Learn to ask enough questions up front so that you don't have to pull credit every time you talk to a prospect. This means you must know what questions to ask and how to ask them. For instance, when you ask about current debts be specific. Help them remember who they make payments too.

Ask: “Do you have any Auto Loans, Boat or RV loans, Credit Cards, Student Loans, Medical Bills, Alimony, Child Support, Etc.?” If you are specific enough, many times, you will get information that will tell you right there and then if there is something that will be a roadblock.

Think of yourself as a financial doctor. How would you feel if you walked into your medical doctors office and he immediately gave you a prescription without even asking you what was wrong.

Don't do this yourself. Teach your prospect that the more information you have about their individual situation the more you can help them. Remind them that their information will be kept in the strictest confidence. Make them comfortable with being up front and open with you.

3. Know your products well enough that you can troubleshoot before any money is spent. Don't just fill out the 1003 and pull credit. Know what the main guidelines are for each product.

If you know these guidelines it will often be obvious what direction you should go or whether you can do anything at all.


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