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Did you miss the 36 hour Refi Boomlet?

By Kris Krajecki

Mortgage and Lending with Kris Krajecki - FOX VALLEY MORTGAGE - Huntley, IL

February 02, 2008 03:25 AM

Did you miss the 36 hour Refi Boomlet? Did you have a lot of customers complaining because they missed it too? This has happened 3 times in the last 5 months. Don't let it happen again.

How about establishing a "Pre-Pipeline"? Give your past customers an "added value" of joining your Pre-Pipeline. Get them ready to go, so they AND YOU won't miss the next Refi Boomlet.

You should ALWAYS find an opportunity to contact your past customers with added value.

In today's challenging market, staying one step ahead of the competition can be the degree of separation between the successful lender and the struggling lender.

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Chris Pollinger

Berman & Pollinger, LLC. - San Diego, CA

Consulting for Luxury Teams and Brokerages

It really does go to how important having a lender relationship is.

Feb 02, 2008 06:09 AM

Judy Greenberg

Compass - Long Grove, IL

Compass- Long Grove -Buffalo Grove

I thought the rates were going even lower next month.. Isn't this true

Feb 02, 2008 02:22 PM

Richard Sweum

1st Security Bank - Everett, WA

It also points out the need to "Trust" your lender...when he/she says LOCK, lock. Don't play the rate-roulette wheel!

Feb 04, 2008 04:30 AM

Charles Dismuke

Amerifund Lending Group - Palm Springs, CA

Palm Springs Mortgage Guy

My oh, my!!!

If I could have put my borrowers in a head lock that week I would have. They kept saying, "I wanna wait, I think they are going to drop more." And I would say, I dont think that its a good idea because rates usually drop by .125 but jump up by .25 so to keep playing roulette to save an eighth of a point is crazy. Did they listen to me? NNOOOOOO!! I had to call them back and say, sorry, you didnt listen to me and missed the boat. Next time please, please take my advise and let me lock it when I say "lets lock."

Thats my 2 cents,

Palm Springs Mortgage Guy, Charles Dismuke

Feb 04, 2008 05:02 AM

Mike Tullio

Guaranteed Rate NMLS# 2611 - Sarasota, FL

VP of Mortgage Lending

Hey Kris. Hilarious word = boomlet. I'm going to have to start using that one. Do you have a client database management system? I'm pretty sure I have one, but haven't really tapped its potential yet. Seems like your suggestion would be perfect for a rate-alert e-blast of some sort. If rates drop below a critical level, you could have that group of clients notified immediately. Thanks for the timely post.

Feb 04, 2008 07:00 AM

Mike Jones

SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ

Mike Jones NMLS 223495

Kris,

Thanks for writing this; I've featured you in this week's Mortgage Pro Week In Review--1/28/2008 Through 2/03/2008

Mike in Tucson

Feb 04, 2008 09:17 AM

Lewis Poretz

Apex Home Loans - Annapolis, MD

Business Development Manager

My weekly newsletter had a baseball bat ---- would you like to get hit over the head with this??? --- because if you do not take advantage of the next 48 hour refi boom..... i think you should! well - that is the message i wanted to send anyway - it is amazing how many clients actually get mad at you because the rate is not there any more, even though you tell them rates change every day - even every hour......

nice blog!!!!

Feb 04, 2008 11:14 AM

Eleanor Thorne

Equity Resources - Cary, NC

Advantage Lending 919-649-5058

GREAT ADVICE! I've started a seperate "rolodex" of folks by interest rate. I think we will continue extreme volitility - thanks!

Feb 05, 2008 12:09 AM

Matthew Rosov

Amerisave Mortgage Corporation - Laurel, MD

Certified Mortgage Planning Specialist

That one has come and gone! Gonna have to wait for the next one.

oops - there it went! ;-)

Feb 05, 2008 12:23 AM

Don Draughn - Mortgage Professional

High Point, NC

Great advice. I have missed a few of these but I don't plan to miss any more.

Feb 05, 2008 12:24 AM

Rick Kellow

Cherry Creek Mortgage - West Bend, WI

FHA & Reverse Mortgage Expert

great advise... be ready and reap the benefits...

Feb 05, 2008 06:55 AM

Frances C. Rokicki

Fran Rokicki Realty, LLC - Bolton, CT

Broker-Mentor,CRS

Good point! Keep in contact with your clients! Even if they don't need the help, they may know someone who will. They will be sure to give your name:)

It's a Good Life!

Fran

Feb 05, 2008 09:39 AM

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Kris Krajecki

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