| Mortgage Minute Newsletter From Sam Thompson, Senior Mortgage Advisor Dec 2007- Vol 1, Issue 27
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Quick Links
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| Who we are. |
 Our Corporate Campus in Mt. Laurel, NJ PHH Mortgage is one of the top ten originators of retail residential mortgages in the United States. We offer you unsurpassed service, a full range of programs at competitive rates, and the smoothest mortgage experience in the industry. In 2006 alone, PHH Mortgageprovided $41 billion in mortgage financing for American homes, and every day we help more people fulfill the dream of home ownership. PHH Mortgage operates out of twomain facilities in Mount Laurel , NJ and Jacksonville, FL - employing a combined total of more than 5,200 team players.
We've received numerous awards,including Best 100 Places to Work in IT (Computerworld), Top 25 Companies that Care, Training Top 100, and more. And, we were recently ranked #1 by Inside Banking for our reliable closings and accurate Good Faith Estimates and we constantly receive 98%-100% "I would recommend" ratings from buyers AND realtors in post-closing surveys.
CALL US SO YOU CAN SEE HOW WE DO IT! |
| Dear Sam, |
Do you have a Passion for Sales?
Are you you self-driven, good
with people, goal oriented, a creative thinker and not afraid to try
new things? Do you read books on sales, Internet blogs and listen to
self-help tapes?
To me, sales is fun and it is truly my passion and my only regret is that I did not discover this passion until late in my career.
But, I am trying to make up for lost time by pushing myself harder and always looking for more things to read so I can share them with you in these weekly motivational emails.
Because, you are my customer and your business success is my #1 goal and hopefully, as you grow in your success, you'll take me with you by allowing me to continue to serve you.
If I can't be your #1, can I be your #2?
I am trying harder to earn your business! Sam Thompson
PHH Mortgage
Senior Mortgage Advisor 'The FHA and VA Guy'
843-230-7929
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What to expect at closing.
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| The value in getting a second opinion... |
 We have had 4 transactions close this month that were a direct result of your efforts to have your clients call us for a Second Opinion; a Quick Close; or to Save the Deal. On each client you referred for a "Second Opinion" we able to give something better than the other Lender. Better is also more referrals for you and that's the best part.
Scenario 1:
Scenario 2:
Agent Anita Reel referred customer for a better rate. We did give him a lower rate and lots of personal attention. Anita's customer was very happy and I did my best to make the customer understand in a face to face conference that his lower rate would not have happened without his Knowledgeable and Caring Agent Anita Reel looking out for him. Thank you Anita. Scenario 3:
Agent Johnnie Coleman referred this customer to us because they were having a hard time getting a loan commitment in writing from the broker they were working with. The broker was trying to do a Stated Income loan for this customer at a very high rate and never getting the job done.We gave this customer a 30 yr fixed on the wife regular income only; at a very nice and of course lower rate; making this a very happy situation. I have to say this was not an easy loan to do and this customer was not an easy customer to work with. Agent Johnnie had to work very hard overcoming many obstacles other than just the loan. She had to use some amazing skills to get this loan to the closing table. But she did it. Scenario 4:
Other lender not performing; Agent Kelly Hampton referred for Save the Deal and Quick Close. We approved on an FHA Loan with only 10 days to close.... "10 DAYS to close" and a FHA Loan was a very hard order to fill. Agent Kelly and Customer did everything right getting documents in immediately and following up with processing and myself everyday. Together we processed and closed this FHA Loan (the hardest loan type to process) and yes did it 10 days. That just might be a record in our FHA dept and Kelly's Customer has her home because Kelly recognized the warning sign of another lender not performing; knows her stuff when it comes to getting documentation quickly and knew she could trusted us to Save the Deal for her customer. Scenario 5: (from another MA this morning) Bonus
One
of my agents had a buyer that was a mechanic and would get the discount
for going through GMAC. He thought that would be the best thing for
him. The agent explained that you just never know, and to please just
verify with us that he was getting a good deal. They did call and even
though I couldn't beat the deal, I matched it. They went with us, due
to our customer service and our communications. I think the GMAC loan
officer just assumed that they would go with him, and neglected them. Just goes to show that you cannot assume anything in this market!
If
your buyers are not getting a great rate or good communications from
their lender or broker, ask them to call us for a second opinion. For
the listing agents having trouble with the buyers, ask the Buyer's
Agent if we can help their clients with a second opinion too. Don't
let any of your deals fall through the cracks!
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| Contact Management Systems |
 Here's an input form in the MS Access Database mentioned below.
In this business, like in any sales job, you have to keep up with prospects, clients, service provider contacts, referral sources, potential FSBOs, other agents, past clients, etc. In addition, you need to be able to keep up with the progress you have made with your clients as well as your production numbers so you can see how you are doing, year to date and this year, vs. last year, etc. To be successful and to be more organized and less stressed out, a good system is critical. Do you have a system?
An essential component is a good planner like a Franklin Planner or DayTimer or just one off the shelf in Wal-Mart is a start. Writing notes on dry cleaner tickets, receipts and napkins is not the way to go. By taking your notes in a planner so you can refer back to the notes, you are going to get many more things done. And the planner allows you to write down your appointments too so you'll never miss another one. Beyond that, you can utilize a 3-ring binder or step-up with an Excel Spreadsheet, MS Access database or buy a database like ACT or Top Producer or use your personal information management device to help you track your contacts from the notes in your planner. If you are interested, I have modified a simple database with some neat features from a MS Access template that utilizes some things that a good realtor would need and I can customize it for your particular needs if you like. If you have MS Access and want me to set this up for you, let me know. If you don't have MS Access, go to Wal-Mart or eBay and buy it and then let me know!
Call me if I can help you with this! I want you to be very successful in this business! Finally, remember that if you send your buyers to us, we will put them into our corporate database and track them for you! We retain information on all borrowers for 2 years so you can call me if you need help remembering a name or phone number.
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Weekly Tip - There's plenty to do right now!
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 Call
on some old prospects and see if they ever did anything. Make sure to
mention how low the rates are right now and how many great homes are
priced right. Mention that it's probably a good thing that they
waited! If you are really thinking, you'll have some great listings to
tell them about when you do. I would not be surprised if you don't get
a revised prospect on a ratio of 1:5.
Look through the expired listings and drop off your listing presentation for them. Now that they have seen how the competition did it, you can show them how you do it. And remember that now they are more in tune with the market so they'll be more receptive to price it right. Drop off a Christmas cheer basket for your favorite service provider or referral source. By showing your appreciation, they are going to remember you. Do this in the morning or lunch so can get them together for some social time so you can network. If you have a colleague getting out of the business, ask if you can contact anyone that they were working with that never did anything. Who knows, maybe your approach will win them over. Offer to give them a referral fee for the leads if they are still licensed. Why not do the same with your colleagues that are still in the business but have given up on some prospect? Call
past clients with a "holiday call" to wish them best wishes and to
check on them to see how they are doing. This personal call is welcome
and just let's them know you care about them and this might translate
into another referral. Think about doing this on the closing date
anniversary too.
Follow
up with the buyers that could not get approved too. They are probably
still renting and by doing the follow-up call to see if they were able
to clear up the issues holding them back, you might get an old prospect
back. Your call will remind them about how good you were to them so
ask if they know any other renters in their complex, etc., that might
be thinking about buying a house soon too. If you don't ask, you don't
get. Take a seller that is having no lookers out for some showings to let them see what the buyers are comparing them to and mention our special financing program. This can impress them with your creativity and will get new lookers for them too. Work on your website and marketing materials for buyers, FSBOs, relocation packages, listing packages, etc. When things start heating up after the slow season, you are not going to have the time so don't put it off any longer. Revisit your goals for the year and see where you are and make new goals accordingly. Keep these goals in your mind as you go about your day so you can focus more on what is going to help you. Organize your office, your inbox and your car. Order your Franklin Planner or DayTimer for next year! Get working on your Christmas Cards now!! The earlier you get them in the mail, the better so they get noticed more! Call me if I can help you with these or if you pick up a new buyer. I don't want to have a SLOW SEASON EITHER!! |
| Weekly Mortgage Market Commentary | ||||||||
| Don't let the financial markets squash your clients and your transactions!
Stay informed by reading my new daily "Daily Rate Lock Commentary" or
just call me to find out what is going on! If you want to be included
in this distribution, just call or email me. Remember, knowledge is
power and the more educated you are in your industry, the higher quality buyers
you are going to attract and that means easier closings, bigger houses
and more money in your "hip national bank!" And since rates are still
climbing, call us to get your clients in our 90 day rate protection as
soon as possible!
©Mortgage Commentary 2007
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Let me know if I can take an application for you anytime! And,
please let me know if you like the format of this email service. I
hope you are reading these so you can stay up on your profession and so
you can make more money too!
Also, I am available to do a "Hit the Ground Running Workshop" with
any agents interested in learning tons of things they can do to help
them succeed in Real Estate. I need at least 5 agents, brand new or experienced,
looking for some motivation to put this on for you that will take 2-3
hours, depending on your involvement! These are designed to be
interactive so you can learn more about yourself and so you will walk
away with a stronger sense of self-confidence too.
These are fun and motivational!
If you don't get at least 10 great ideas that can really help your business, I'll take you to lunch and give you a few more!
What are you waiting for? Gather support with 4 of your colleagues and call me today!
We'll guarantee your closing date.
We're so confident that we will close when you say so, that if we
don't, we will reduce your interest rate by 1/8 of one percent for the
life of your loan.*
We offer FREE pre-approvals to qualifying homebuyers! With a mortgage pre-approval, you can shop for the home of your dreams with confidence. You'll know just how much you can afford and increase your negotiating power. **
We take pride in being a lender you can trust. As our mission states, "we promise to treat customers like family." We take this oath seriously, and our goal is to provide you with the superior service you deserve - guaranteed.
* Approved, conventional, purchase loans only. Closing date to be mutually agreed upon between customer and bank, and customer must provide all required documentation. Timely request for payment under guarantee is required. ¹Inside Mortgage Finance, Copyright 2006 |
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I hope you have a great week this week in real estate. Call me if I can help you with that!!
Sam Thompson - "The FHA and VA Guy" 843-230-7929
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