I have read several blogs in the last several days in regards to loan officers and their ability to actually helping the client with concrete and correct decisions. Those decisions that I am talking about are not those that would put money in your pocket quickly, because the client tells YOU, the loan officer, what they want. Sure, I believe in giving clients what they ask for, but if it could hurt them than help them, then are you truly doing your job?
ABC (American Brokers Conduit) is actually sponsoring 3 day training seminars which covers such concepts as financial market and interest rate analysis, cash flow and debt analysis, real estate equity management, real estate investment planning, and mortgage and real estate taxation concepts. All of which sound perfect in helping clients make the correct decisions.
Overall, this is perfect because this seminar will help teach the mortgage professional from doing more than just quoting a rate and term to a borrower. Those that take the course have to pass a test and when doing so, get a certified mortgage planning specialist designation. This will allow the specialist to help the client manage their mortgage as part of their overall financial plan. And for anyone that wants a true expert on this subject, Karl Christen, has taught me what this means to the mortgage industry in the very near future.
*****This will allow me to FLEX my MUSCLES and show the client that we actually care. I am also going to implement this within my own group of loan officers. The bottom line is that we all would be a mix of a loan officer and a financial planner. This will speparate us from the normal loan officer in this fast paced industry that seems to take on that car sales person mentality. (nothing against car sales people....but it's the name that has been passed onto loan officers in this business) This will allow the consumer to be placed into the proper product for their circumstances and actually get a thorough and truthful explanation why.*****
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