Did you miss the 36 hour Refi Boomlet?

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

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.

Comments (12)

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


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
Equity Resources 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

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!


Feb 05, 2008 09:39 AM