Written By: Terry Weiss - Terry has more than 11 yeas in the mortgage industry as an originator, branch manager and national sales trainer. He has trained hundreds of successful loan officers across the country. He is currently Director of Sales for pitchSIMPLE, a loan proposal builder software. He can be reached at TWeiss@PitchSimple.com.
Did you know that the 1003 was originally designed as an underwriter’s tool, not a salesperson’s tool?
However, you’re a salesperson, not an underwriter.
The 1003 is, as you know, critical for qualifying a customer. After all, before you can offer the best loan advice, you must first learn the facts regarding your borrower’s equity, income and credit.
So, before we go any further, it’s really important to shake off those underwriter tendencies. Go ahead—close your eyes and imagine getting rid of them right now. You can no longer sound like an FBI agent shining the proverbial bright light in your customer’s eyes and interrogating them with a barrage of questions.
From now on, you must treat the application phase as a relationship building exercise rather than a fact-finding mission. Be warm, personable and enthusiastic. Here’s how to build the rapport needed to make the final sale.
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