We all know the old image of the account executive (AE) making their rounds with donuts and logo items in hand. While gifts and marketing tools still help build relationships, your AE has become a much-needed source for more. Simply put, your AE is no longer just your best source for donuts.
As the importance of a reliable donut delivery system has faded, the need for reliable information has exploded. Today, AEs are considered subject matter experts in many areas and have become one of the best sources for industry information. Their extensive experience allows them to provide compliance and regulatory expertise, personalized service in your office, loan level support, and hands on training. Today’s AEs understand the importance of delivering information to help you grow your business and they are taking an all new approach to helping you do so. Here are some things to consider when assessing the evolution of your AE:
►Accessibility: To be efficient in your business you need accessibility to real-time information. Whether it’s underwriting, operations, servicing or closing, an effective AE will be your direct access to the inner workings of your lender’s operations.
►Trusted partner: If you have a strong relationship with your AE, then you are pretty confident that any concerns you may have will be addressed and cared for by the appropriate person quickly and efficiently. An AE who is a trusted partner understands, lives, and breathes front line service commitment.
►Loan level support: The above leads directly to your AEs’ ability to help you with loan level support. We know that the mortgage industry is based on closed loan files, not loans in progress. And having the right AE looking at your pipeline each and every day can make all the difference in your closed loan volume and ultimately your bottom line.
►Live training: Training happens best where you work with a live instructor … your AE. Having structured training is critical to keeping you and your staff abreast of changes in the mortgage business. Today’s AE looks for the best way to deliver training to you and your staff so that you can, in turn, deliver exceptional service to your borrowers.
If you are not seeing these characteristics and behaviors in your AE, then maybe it’s time for you to consider finding a lender who will provide the kind of AE partner and support that has your business in mind. Furthermore, a local level AE supported by their national company can be invaluable to growing your business … and not your waistline.
Keith Bilodeau is senior vice president of Wholesale Production at Freedom Mortgage. With more than 30 years of experience in capital markets, operations and production, Keith offers unique expertise in helping mortgage professionals grow their business by leveraging Freedom Mortgage’s technology and programs. He may be reached by e-mail at [email protected] or visit www.freedomwholesale.com.
Lender NMLS ID: 2767. Freedom Mortgage Corporation, 907 Pleasant Valley Avenue, Suite 3, Mount Laurel, NJ 08054.
This article originally appeared in the September 2015 issue of National Mortgage Professional Magazine.
