Prospective borrowers expect more from mortgage providers than ever before, and standing out in the age of instant gratification and fierce digital marketing competition isn't getting any easier. With that said, consumers are still human, and they love a lender that offers them a personal
Real estate agents typically work with buyers who need a mortgage loan to finance the purchase of the home. Just like real estate agents need loan officers for the financing, loan officers also need real estate agents to find buyers who need loans. Both professions
In some cases, the hardest part of the sales process is to get the customer sitting in your office to convert from a potential customer to an actual customer. However, there are some easy steps that you can take to convince a prospective client that
Testimonials are one of the most crucial measures of a mortgage business' ability to grow and attract new customers. In today's day and age, clients are almost guaranteed to go online and research a business's reputation before settling on one broker. Reviews and testimonials are
It's easy to be a successful loan officer when everyone in town is looking to purchase a home. However, those who are able to develop meaningful relationships with borrowers are the ones who typically succeed when the housing market is slow.Are You Able to Connect
Eligibility For VA IRRRLs If your clients have a VA loan and are interested in lowering their interest rate, you should consider offering them the option of applying for the Interest Rate Reduction Refinance Loan. Abbreviated as IRRRL, this refinancing option allows veterans and military families
Rarely have interest rates on home mortgages been lower. The average interest rate for a 30-year loan has been around 3%, and the rate for a 15-year loan has approached 2.5%. Because of the drop-in interest rates, the price of houses has actually gone up
Fraud is an ongoing threat to loan underwriters. Professional criminals can make an art form out of defrauding lenders. However, most experienced underwriters have a well-honed ability to detect red flags. Seasoned and astute attention to detail on the part of an underwriter can stop
Commercial lenders must grapple with fighting synthetic identity fraud. It is one of the recent trends most fraudsters use to get away with their malicious acts. With this strategy, at least $6 billion is lost per year. Synthetic identity fraud It is a process that involves the
Dealing with borrowers, connecting with lenders, and brokering home loans is difficult, to begin with. But the act of finding referrals in a post-pandemic world makes it even more stressful. Sourcing reliable clients for your mortgage business is not impossible. By focusing on tried-and-tested strategies, you