Back to basics: Genuine customer serviceCharlene SalpietraMortgage,customer service
Our business has done so well for so long that many employees
have opted to make it a numbers game, which promotes the attitude
that the more loans you close, the more money you make. I have
witnessed loan officers who cherry-pick customers in order to close
the easier, less time-consuming loans. They even passed customers
to other LOs if the loan size was not big enough. I would like to
share my thoughts with you about customer service and the magical
numbers that accompany it.
The sub-prime market has always been one of my favorites, but I
work in an office that has a strong reputation for its
government-lending expertise and willingness to compete with banks
for the conforming market. We spend so much time analyzing new
marketing strategies and investing big dollars in technology that
we struggle to attract business from real estate agents. Our
predicament can be remedied by returning to the basics. A recent
transaction reminded me of the rewards that come with offering
genuine customer service to clients.
I had a "call-in" from a young couple who was starting a new
family and wanted to purchase a home. The conversation started on a
negative tone. They wanted to get pre-qualified, and we were their
last resort. They had talked to several banks and mortgage brokers
and were told that their credit was not good enough. One loan
officer told them that it would have been better if they had filed
bankruptcy rather than attempted to pay the creditors. They were
greatly concerned about being penalized for trying to do the right
thing. They had made arrangements with creditors to repay the debt
that the couple had accumulated through college and some poor
buying decisions. With credit scores in the mid-500s, they could
not find anyone willing to put some effort into helping them clean
up their credit report and documenting their ability and
willingness to repay their debts. They were anxious to meet me when
I told them that they stood a very good chance of getting 100
percent financing for a new home. You can only imagine how prompt,
prepared and attentive they were for that appointment!
I promised to commit my time and knowledge in structuring the
loan and presenting it to a "Make Sense Underwriter" for an
approval, provided they complete a list of conditions and
documents. They worked diligently to complete the tasks and
provided an excellent letter of explanation to add to the file.
Needless to say, we did get the approval and closed their Rural
Economic Development loan. Remember, this program is 100 percent
financing with no private mortgage insurance or pre-payment
penalties and a great fixed rate. My lender provided me a great
opportunity to make good money on the deal as well.
As our new homeowners were leaving the closing, they reminded me
of their discouraging start to this adventure and shared that they
knew they were worth investing some effort into. They asked for a
stack of my business cards and gave me the names of two colleagues
who needed to refinance their home. The couple was going to attend
a family gathering later that day and wanted to announce the
exciting news about their new home. They assured me that they would
offer my name and company to everyone there. Later that day, they
called back to tell me that the seller of their home was having
trouble getting approved at their local bank and needed to close
quickly on a home for their family. They wanted to schedule an
appointment to return to our office.
The moral of this story is that it is a numbers game. When you
take things back to the basics and give your customers genuine
customer service, they will supply you with a number of
referrals!
Charlene Salpietra is Indiana Association of Mortgage
Brokers Treasurer and Secretary. She may be reached at (812)
858-5455 or e-mail
[email protected].
