The document provides guidance on using a sales script to guide mortgage loan calls. It outlines 10 steps to take, beginning with taking control of the conversation by confirming borrower information upfront. It recommends reviewing the borrower's credit summary and giving them a current assessment before selecting the best loan program. The final steps include disclosing loan details, requesting documents, and closing the call by addressing any remaining questions. The overall purpose is to provide a clear roadmap for loan officers to follow during calls in order to efficiently qualify borrowers and secure new loans.

1. Completing The Puzzle
Mastering the Calusa Script

2. The Calusa Script - History
• Script originally developed by Dave
– Trial & Error from own history in sales
• Through the years, refined by Top
Producers
• Original purpose:
– Provide a Clear & Concise Roadmap
• Script Revised as Loan Products Evolve
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3. Preparing Yourself for the Call
• Arrive to work with enough time to check
E-mail, return calls, etc.
• Have Product Guidelines & Matrix
available
• Have a stack of Qualification sheets
• Discontinue any other conversations
• Stop any activity that can be overheard
by the caller:
– Eating, chewing gum
• Smile when answering…your voice will
be more pleasant
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4. Using the Script
• Script Opening • Thank you for calling Calusa.
My name is __________.
How may I help you?
• Creating Comfort Levels with Caller
– Use Full Name to Establish Rapport
• Invitation for Moving Conversation Forward
• Using Clear Opening Enhances Image
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5. Reservation Screen
O.K. Let me confirm some information so that I
can better answer all of your questions and
select the best program for you. On your pre-
approval letter, there is a reservation number.
It should start with a ‘C’. Great, am I speaking
with _____? I show your address is _____.
• Confirmation of Information
– Insinuates you have plenty of information to get
started with loan process
• You’re in Control of Call
– Their questions can come later
• “Take an application”: Negative Connotation
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6. Reservation Screen continued
O.K. Let me confirm some information so that I
can better answer all of your questions and
select the best program for you. On your pre-
approval letter, there is a reservation number.
It should start with a ‘C’. Great, am I speaking
with _____? I show your address is _____.
• “Best Program”
– Giving them 2nd Best Program?
– Challenge: Use “2nd Best Program” to see how many
loans you close
• “Pre-Approval Letter”
– Use ‘Your’ to personalize call to their situation
6

7. Reservation Screen continued
O.K. Let me confirm some information so that I
can better answer all of your questions and
select the best program for you. On your pre-
approval letter, there is a reservation number.
It should start with a ‘C’. Great, am I speaking
with _____? I show your address is _____.
• Not an Interrogation, build rapport
• Objections
– Don’t stop talking
– Don’t talk over person
• Go right back to question you need answered
• Always personalize by using their name
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8. Joint Borrower Screen
• __________, does anyone else own your home with
you?
• Will they be doing this loan with you? What is
his/her name?
• What is your social security number? Your date of
birth?
• What is __________’s social security number? And
their date of birth?
• What is your home telephone number?
• Do either you or __________ have an E-mail
address available?
• What is the month and year you purchased your
home?
• Your home is located in __________ County?
• What is the current value of your home?
• Is it a single family home, condo or mobile home?
• How much did you pay for your home when you
purchased it?
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9. Joint Borrower /
Name & Address Screens
• I’m going to update your credit history now.
While that is updating…
• …the federal government requires us to
request your race and gender information in
order to monitor our compliance with fair
housing, equal credit and home mortgage
disclosure laws. You are not required to
furnish this information but are you…(read
from Integra screen).
– Ethnicity
– What is your marital status?
– Are you a citizen of the United States?
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10. Joint Borrower /
Name & Address Screens continued
• Social Security Number
– Make it normal part of compiling information
– Everyone knows when asking for credit, their credit
will be pulled
• Section has no ‘Yes’ or ‘No’ type questions
• No telephone number in Integra prior to pulling
credit
– Use Qualification sheets to record telephone numbers
& E-mail addresses
– Both telephone number & E-mail address must go into
Integra once credit is pulled
• Must say government verbiage portion prior to
pulling credit
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11. Joint Borrower /
Name & Address Screens continued
• Exercise #1
– Taking control of the call:
• Calling to ask what your current interest rate is for
my credit score.
• Exercise #2
– Overcoming a standard objection:
• Refusing to give social security number.
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12. Joint Borrower /
Name & Address Screens continued
• Verbiage for Credit
– Never use ‘Pulling Credit’, etc.
– Use ‘Updating Credit’
• Government verbiage gives assurance to caller
– Tells caller we are complaint
• When asking Ethnicity & Sex, NEVER assume!
– “I can tell by your last name that you must be
Hispanic.”
• Marital Status & Citizenship required on all
loans
• Allow conversation to immediately flow into
Employment
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13. Employment Screen
• Who is your current employer?
• What is your work number?
• What is your current position?
• How long have you been with them?
• What is your gross monthly income?
– Gross income is your total pay prior to any
deductions.
• Repeat for Co-borrower
• Must have 2-year work history
• No longer placing call on hold
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14. Asset Screen
• Now, let’s talk about your savings account
• How much do you have in your 401K account?
• How much do you have in stocks and bonds?
• How much do you have in savings?
• How much do you have in any other accounts
like checking?
• Opportunity to iterate to borrower how dire their
financial situation truly is
• Use voice inflection to be surprised at lack of
emergency reserve funds
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15. Credit Grading Screen
• Ok, __________, I’m reviewing your credit
history from the credit reporting agencies. What
they are saying is that…
– You’re discussing their payment history. Ask about
late payments and/or tax liens and judgments
• Example #1:
You’re payment history is pretty good. But the
amount owed on your revolving accounts is high
compared to your available balances. They are
also indicating that you have to many accounts
with balances. But that’s probably why you
called. Let’s go ahead and see what we can do
for you.
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16. Credit Grading Screen continued
• Example #1:
You’re payment history is pretty good. But the amount
owed on your revolving accounts is high compared to your
available balances. They are also indicating that you
have to many accounts with balances. But that’s probably
why you called. Let’s go ahead and see what we can do
for you.
• Use Tone & Inflection to stress points
• Be enthusiastic
– Borrower “Buy-In” begins here
– They’ll feel confident
– Gives you psychological advantage
• Pause after, “…why you called.”
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17. Underwriting Disclosure Screen
• I’m showing your current mortgage is with __________,
with a monthly payment of __________. Is that
correct? Does that include your taxes and insurance or
do you pay those separately? How much are your real
estate taxes per year? How much is your homeowner’s
insurance per year?
• Now, let’s go over your outstanding debt aside from
your home. Is there anything that you would like me to
target for payoff that has a higher interest rate?
• Get taxes & insurance at this point in call
• Confirm both outstanding balance and monthly
payment
• State each figure in full dollar amounts
– Confirm caller’s feeling of being overwhelmed by payments
• Online Script: Select Program before Underwriting
Disclosure
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18. Underwriting Disclosure Screen continued
• ______, you need to get a pen and piece of
paper ready because you are going to want to
write this down. I’m showing your current
minimum monthly payment on the debts we just
listed to pay off is _____. Does that sound
right? How much cash would you like back?
• OK, I’m going to put you on hold while I put your
loan program together to determine how much
of a difference this loan is going to make for you.
• Pen & Paper changes call dynamics
– Caller is being charged with a task
• Recognize how long you have caller on hold
– Placing call on ‘Mute’ can garner information
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19. Underwriting Disclosure Screen continued
• Exercise #3
– Placing a caller on hold
• You’re working the loan, but how long have you left
your caller on hold?
– How long does 30 seconds really feel like?
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20. Underwriting Disclosure Screen continued
• __________, I’m back.
(come back with sincerity…such as WOW – this really
does make a difference for you.)
• What I can do is consolidate all of the debt you
want to payoff into a new loan (or loans) with a
minimum monthly payment of _____. (this may
or may not include their taxes) This represents
a payment savings of _____ in your first month
alone and a payment savings of _____ in your
first year.
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21. Underwriting Disclosure Screen continued
• Also, since these are simple interest loans,
anything you pay over the minimum
monthly payment goes directly towards the
principle balance, unlike your credit cards.
Any extra payment you send on your
credit cards goes first towards the
compounding interest since your last
statement, which is why the average
credit card could take over 25 years to
pay off. So, if you were to keep paying
the same amount you have been paying
on the debts we just listed to pay off of
$_____, you would have this loan paid
off in full in just _____ years and _____
months.
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22. Underwriting Disclosure Screen
continued
• ALWAYS STRESS SAVINGS!!
• In addition to their yearly savings, equate their
savings to a raise in income
• Learn wording to allow for a natural flow
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23. Underwriting Disclosure Screen continued
• Everything is included in your loan so
there are no out of pocket expenses to
you with the exception of your
appraisal. The appraisal runs about
$300. We will take care of ordering this
for you.
• So, your total loan amount is _____ at
an interest rate of _____%. We will be
paying off (list all debts to be paid with the
amount) plus writing a check to you for
_____.
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24. Closing
• Do you still have that pen and paper handy?
Great, here are the few items that I need you to
fax to me. I will need:
– Copy of your 2005 & 2006 W2 form(s);
– Copy of last 2 consecutive pay stubs;
– Copy of your monthly mortgage coupon or
statement;
– Copy of your drivers license
– The name, telephone number and policy number
for your homeowner’s insurance company.
Indymac requires two years W2 forms, as per
guidelines
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25. Closing continued
• My fax number is __________. I will call you
to let you know I have received your items.
How soon can you get these items to me?
(Within 24 hours is what you’re looking
for.)
• Great! An appraiser will be in touch with you
within the next 24 hours and I will immediately
begin the process on your loan. I will be
sending some information by fax or E-mail.
Which do you prefer? Great, send this
information back with your other items and it
will take me 2 to 3 days to process your loan.
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26. Final Closing
• Once your loan is completed, we will
have a signing agent contact you to
schedule a convenient time to get
together so you can sign your final
paperwork.
• Now, are there any questions that I did
not answer for you? O.K., again my
name is __________. My direct dial toll
free number is __________. I will be on
the lookout for your items and look
forward to handling your financial needs.
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27. Alternate Closing – Gordon Ehrlich
So what we need to do is order the
appraisal. It will take 24-48 hours for the
appraiser to call you to schedule the
inspection. They usually run $300-$350 and
you pay him directly as it is your appraisal.
We do not get involved in the financial end
of that transaction. We have to order the
appraisal so that we can be sure it will meet
the underwriting guidelines. In the mean
time, I need you to fax me several items so
that I can do the income calculations and for
the final approval.
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28. Alternate Closing – Gordon Ehrlich
Three common responses:
• What do you need me to fax you?
– Loan is Closed
• Final approval? I’m not already
approved?
– You are pre-approved, however the income
and the value of your home need to be
documented so we can obtain the final
approval. There are two variables that need
to be addressed with a loan: the DTI (Debt to
Income Ratio), and the LTV (Loan to Value).
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29. Alternate Closing – Gordon Ehrlich
• Hold on…I need to speak with my “spouse”
before we do anything.
– Of course…I want to make sure everyone involved in
this process understands your financial situation and
how this program is going to fix it. I actually prefer to
have both of you on the phone together so that I can
answer both of your initial and secondary questions.
This will allow us to have one fluid conversation, and
answer all of your questions at the same time. I place
the order for the appraisal so that we can initiate the
process to assure my ability to close the loan within
the next 5-7 business days, which will start your
savings this month as you will not have a mortgage
payment next month.
• Secondary question is one that comes from the answer
of the initial question.
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30. 10 Steps to Success
Opening
1. Take immediate control of conversation
“Let me confirm some information so I can better answer
all of your questions.”
Credit Grading
2. Review credit summary
3. Give current monthly payments (all debts
paying off) and estimated pay-off times.
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31. 10 Steps to Success continued
4. Determine how much cash they want back for
home improvements, debts not listed, etc.
5. Give savings 1st month, year and time savings
if they continued to pay what they’ve been
paying.
6. Gain commitment by having them part of the
process of what will be paid via loan.
7. Review items that have “Tax Deductibility” that
are included in the loan.
8. Summarize loan. Loan amount, rate, new
payment, debts paying off and cash back.
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32. 10 Steps to Success continued
9. Give your complete contact information.
10. Gain commitment on receiving docs within 24
hours
• Build Rapport
• Be Enthusiastic
• Gain Commitment
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