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Mortgage Marketing MinderTM - October 2005:
ARM Refi Solicitation Postcard
Would you like to close a couple of refinances every month - regardless of interest rates?
Looking to close a few more loans by the end of the year?
How about closing two or three more refinances every month?
This marketing minder contains 2 postcards to solicit refinances from people who have an adjustable rate mortgage. They fall into 2 categories:
- Past clients who currently have an adjustable rate mortgage and you were the original lender.
- Purchased lists of borrowers who have an ARM and closed with your competitors.
Loan officers may feel they have to wait until a month or so before the loan is ready to adjust to give their clients a call. It may already be too late because the law requires borrowers to be notified of the payment change anywhere from 60 to 90 days prior to the adjustment date.
There is no need to wait to solicit refinances from ARM borrowers. They know they have an adjustable rate mortgage. They know it will adjust in the future. And believe me...they know that the payment will increase.
Here are 2 examples of postcards to solicit the refinance of their ARM loan - regardless of the adjustment period.
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