5 Biggest Complaints of Realtors


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American Financial Resources, Inc
May 2010
Realtor Webinar

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5 Biggest Complaints of Realtors

  1. 1. Welcome to the <br />AFR Realtor Webinar <br />May 2010<br />“5 Biggest Complaints Realtors <br />Have About Mortgage Originators<br />And What We Did About Them”<br />Robert Pieklo<br />Vice President <br />Residential Mortgage Division<br />NMLS#2826<br />Licensing Available on AFRMortgage.com<br />Narration by Jim Melchior<br />
  2. 2. 5 Biggest Complaints Realtors Have About Mortgage Originators<br /><ul><li>They don’t know the business
  3. 3. Lack of communication
  4. 4. Availability
  5. 5. Over Promise Under Deliver
  6. 6. Not a Good Business Partner</li></li></ul><li>Don’t Know The Business!<br />The mortgage business has changed dramatically over the past two years. Financing programs have changed, credit has tightened, and there are many new FHA guidelines that can restrict a borrowers ability to finance their new home. Realtors are frustrated with loan originators that are not on top of their new guidelines.<br /><ul><li>Licensed and registered Loan Consultants
  7. 7. NMLS National Safe Act 20 hour course must be taken
  8. 8. National Test must be passed 75% or better required
  9. 9. State Education must be met and applicable Test must be passed
  10. 10. Ongoing internal training
  11. 11. One of the country’s top FHA lenders
  12. 12. Direct contact with Federal Housing Administration with ongoing changes
  13. 13. Staff dedicated to program guideline and processing changes</li></li></ul><li>Lack of Communication<br />One of the biggest complaints is lack of communication with the realtor. The realtors livelihood depends on the financing of the home purchase and they want to be kept up to date throughout the process. They want to know that their client is pre-approved and is on track to close on time.<br /><ul><li>Status Sweep
  14. 14. Investment in technology specifically for realtors and business partners
  15. 15. Provides Realtors access to the entire team
  16. 16. Loan Officers, Processors, Management
  17. 17. Tracking of key milestones and email notification
  18. 18. Submission of file
  19. 19. Request and delivery of key documentation
  20. 20. Appraisal and Title status
  21. 21. Schedule to close</li></li></ul><li>Availability<br />Realtors work varied hours. With open houses, weekend showings, and late night appointments. Realtors want business partners to be available when they need them.<br /><ul><li>Loan Officer’s Commitment
  22. 22. Not everyone has what it takes to be a realtor referral based loan officer
  23. 23. Each of our loan officers working with realtors makes a commitment to be available, when they need them, and how they need them
  24. 24. American Financial Resources investment in technology
  25. 25. Smart phones, Laptops, Web based origination and tracking systems
  26. 26. Ready to help..
  27. 27. If you want our team to come in and educate your office… we will be there. </li></li></ul><li>Deliver What You Promise<br />Realtors have seen it all. Closing documents that were different than the GFE, financing terms that are not what was promised, and service levels drastically different than advertised.<br /><ul><li>Good Faith Estimate
  28. 28. Internal Help Desk
  29. 29. Federal Guidelines
  30. 30. FHA PREMIER and Conventional
  31. 31. Reduced Fees
  32. 32. 15 Day Turn Time
  33. 33. FHA Standard
  34. 34. Standard Fees
  35. 35. 20 day Turn Time
  36. 36. FHA Portfolio
  37. 37. 580 Fico and Manufactured Homes( 620)
  38. 38. 30 day Turn Time</li></li></ul><li>Be A Business Partner<br />Pre-Qualifications- FAST and REAL!!! <br />Many Realtors make the mistake and devalue their time… Get a REAL Pre-Qual from AFR before you get in the car!<br />Marketing Material Ready in an hour. <br />Need some flyers (1500 options available) or financing options for your open house. We can provide them….FAST <br />Customized Video Listing  YouTube Listing<br />Stay updated through social media (Facebook, Linkedin, Youtube)<br />Need something Different… <br />Look at what we can deliver…..<br />
  39. 39. Presented ByAmerican Financial Resources, Inc. <br />1.4 billion funded in 09’<br />We’ve been lending for 12 years<br />Retail and Wholesale<br />One of the top FHA lenders in the country<br />Smart lending practices have allowed us to expand during industry contraction<br />Knowledgeable Licensed Loan Consultants are here every step of the way<br />Big enough to get your clients the best rates yet small enough to provide the ultimate customer service. <br />
  40. 40. QUESTIONS?<br />Shy? Email your questions to robert@afrmortgage.com<br />Or call 800 596 3155<br />Or chat live at www.afrmortgage.com<br />Thank you <br />for attending<br />