Loan Scenario Support can be a great resource for the mortgage branch. Loan officers can rely on the scenario desk to gather correct information about program specifications, and prevent loss of credibility with borrowers due to mistaken information and unfulfilled promises. Loan officers depend on the branch manager to answer questions about program qualification, but ultimately, it is the lender who can respond to these questions with certainty. When a lender provides loan scenario support, everybody wins!
As many of you may already know, loan scenario support provides answers about program qualification. For instance, a loan officer who is dealing with a borrower who wants to refinance a loan that was previously modified due to the skipping of a couple of payments may be uncertain about whether the borrower qualifies for a given program. Ideally, the loan officer can reach out to his branch manager, who in turn has access to the scenario support desk and can get a clear answer: “yes, the borrower qualifies,” or “no, the borrower does not qualify.” Better yet, the scenario support team may offer alternative programs for which the borrower is likely to qualify, and in turn, the loan officer can assist the potential borrower deal with the alternatives.
As I mentioned at the beginning of this post, loan officers depend on the branch manager to get answers. However, there are many lenders who fail to provide loan scenario support, and if they do, they don't have a dedicated loan scenario staff. Rather, they pass the buck between the processing department, the underwriting department, or the secretary. Meanwhile, branch managers have to wait for information that ultimately may not be accurate. These two scenarios are problematic and pose a loss of business risk for the mortgage branch. Possible ramifications from lack of access to dedicated loan scenario support are branch managers that are driven to self-sufficiency, and loss of credibility when the loan officer cannot fulfill made promises; an inefficient way to do business all the way around.
The loan scenario desk provided by the lender itself mitigates the problems of misinformation and/or delayed responses. When the branch manager has direct access to a support team, he/she may ask related questions on the spot. At the same time, the risk of misunderstanding of product specifications is diminished because information is provided by the lender itself. For some, the loan scenario desk may seem like a little non-important perk, but the bottom line is that a branch sales team benefits when the branch manager has ready access to accurate and reliable information; loan officers can quickly respond to potential borrowers’ inquiries and confidently set their borrowers' expectations with mortgage terms they can deliver. Branches that deliver what they say they can are a winning for all: borrowers feel respected; the branch builds a reputation of trustworthiness; and the origination process is streamlined.
Worthwhile mortgage branch opportunities include loan scneario support.
As a mortgage branch services company, we provide two loan scenario desks, one to help with government loans and one for conventional loans. We are convinced that good customer service is the only way to a sustainable business, and this motivates us to provide tools that enable branch partners to represent accurate information.
As the Mortgage Branch Leader we want to partner with seasoned mortgage professionals who want to open a mortgage branch. Out mortgage branch opportunities are a better alternative to the net branch opportunities out there. As a branch partner, and contrary to a mortgage net branch, working with a direct agent, full eagle lender, you’ll get competitive pricing, full product portfolio, and other benefits. Best of all, we are team oriented company that recognizes that your success is a requirement for the sustainability of our business. Please visit our website to learn more