Admin

25 Closing Guarantee - Period. No if's and's or but's.

By
Mortgage and Lending with Guaranteed Rate, Inc NMLS ID:108672 More Info.

Nothing should stand between you and your client's on-time loan closing. Nothing. That's why at Primary Capital, we promise to close on time and we back it up with a guarantee. If we fall short, we'll pay your first mortgage payment (principal and interest). No matter how many new regulations arise, no matter what your mortgage payment is or when it's due, we will stand firm on that promise.

There have been a lot of changes in the mortgage industry. Amid the uncertainty, you want a simple, quick, easily understood mortgage process. We get that. From application all the way through to closing, our team of professionals will smooth the way. Only when you walk away happy will we consider our work done. At Primary Capital, we're here to serve you swiftly, accurately, attentively. You deserve it. Guaranteed!

Our Guarantee    

The On-Time Closing Guaranteesm means we will close your purchase loan on or before the initial closing date as indicated in your original purchase contract or we will refund the principal and interest portion of your first month's mortgage payment. In addition, we are committed to working with our closing agent partners to ensure you have an opportunity to review your closing statement at least one day in advance of the closing.

What kind of GUARANTEE does your current lender offer?

Posted by

Michael Pond

Branch Manager/Loan Officer, NMLS 108672

Envoy Mortgage, NMLS 6666

704-517-2250 cell

 

Comments(6)

Show All Comments Sort:
Karen Anne Stone
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate

Michael:  Now that is a pretty impressive guarantee.  How long have you been offering that ?  I have never heard of any other lender guarantee anything.

Jul 05, 2010 05:26 PM
Harry F. D'Elia III
WEDO Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

That is a great guarantee. How do you make that happen on a consistent basis?

Jul 05, 2010 05:40 PM
Michael Pond
Guaranteed Rate, Inc - Charlotte, NC
The Michael Pond Team

Karen, Thank you!  I have been offering the guarantee for 9 months.  I have had to make good on the guarantee twice in those 9 months.  It is a huge help to me to make all parties accountable for what we need within the time frame we need it.  It helps that I have a GREAT support team that only gets bonuses for On Time Closings.   It works. 

Jul 05, 2010 05:45 PM
Michael Pond
Guaranteed Rate, Inc - Charlotte, NC
The Michael Pond Team

Harry,

My team is able to consistently guarantee the closing by following a time line established upfront.  Day 1 is when the client provides the requested docucmentation.   Questions/Updates/Missing docs are required within 5 days.  All reports (appraisal, title, HOI) are ordered upfront, all seller, agent and builder disclosures are requested - everything has a 5 day time line for it's expected return.  We have 2 days for underwriting, 1 day for final condition collection, 1 day for a clear to close.  In a perfect world we have 1 week of additional time for any problems. 

If someone doesn't hold up there end of the bargin in the timeline then all parties are notified so that there is consistent focus to resolve the delay immediately. 

That's it.  We follow a simple plan.  It works for us.  The biggest part to it's success is our Ops Team is committed to 48 hours underwriting, 24 hour condition clearing and a 24 hour closing package.

Thanks for your comments!

Jul 05, 2010 05:52 PM
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

Now that is thinking outside the box and putting your money where your mouth is.

Jul 05, 2010 06:41 PM
Cameron Novak
The Homefinding Center - 1000 Palms, CA
Real Estate Broker since 2008

Can you say "Loophole"?

Seems you'll tick off more people than the business benefit you get from promoting the promise.

Jul 05, 2010 08:27 PM