March 2nd, 2012 6:58 AM by Eric Fang
There are a few changes from the lenders. Provident Funding changed the policy that they will not do loans for low-rise condos at all. It is bad news forborrowers, but it's not necessary bad for the brokersand the lenders.
I don't know what prompts the lender for this decision.But for me, one factor of the failure of PF loans isthe property type is condo. So at least the fall-outratio will be better after this change.
This week, there is one borrower chose a differentbroker when the rate was 0.075% better than my rate.My loan was locked one day earlier. Usually mostborrowers will not do that(because of this less than0.125% rate changes). On the other hand, I shouldbe happy about it, since this borrower said that"I am better than those who cancelled the loansafter the signoff". Otherwise, I would waste moretime and those kind of clients do not belongmy clients profile any way.
Still try to improve the customer service. I addeda few hands now, so that I will talk more with my clients. Reading the book:Customer Satisfaction is WORTHLESS, Customer Loyalty is Pricesless. That's my direction: Keep those loyal clientsas much as possible. And I will try the best.