Mortgage Blog

My Loan Origination Style

November 11th, 2010 8:01 PM by Eric Fang

Talked to one of my clients today, and she asked me which
book I am reading(most of my clients know me one way
or another), I told her that I am workong on the book:
Flip The funnel.

This is a book about how to use existing customers to
gain new ones. I think I am doing pretty well on this.
And yes, I am still learning.

Basically I am already on referred based model now. And my
first prioerty is how to rentain the existing clients and
make them happy. I believe I serve them well with the best
rate and service.

I don't do loan origination all the time. I do loan locks
once a while, but not everyday. If you contact with me
for the rate quotes before, most of the time I will say "Let's
wait for better rate". Some people will wait, some may work
with other originators.

Though we can not predict the rate exactly(especially
when event/policy driven, like QEII etc), most of the
time, I do know the rate trend. It does help to get
better rates for my clients.

For the first 10 days of November, I only locked rates on
4th & 5th(a lot of them), which I think the rates were
pretty good, and the rest of the time, I just work with lenders
to get the file submitted.

The rate will go up and down(this is a trader's market),
but we all know when we should lock. Be patient, we will
work together to get the loans closed.

Don't forget, the rate will go down again starting Friday(12th).

And I am on floating boat again until the lower rates.

Posted in:General
Posted by Eric Fang on November 11th, 2010 8:01 PM



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