Trusted Mortgage Adviser Needed Now More Than Ever
If you've been involved the mortgage or real estate business for any period of time you've heard the term "TRUSTED MORTGAGE ADVISER". A lot of loan officers have used it as a marketing catch phrase.
Who would not want a trusted mortgage adviser all the time? Every borrower wants it and every loan officer should live up to it to the best of their ability.
Now more than ever borrowers do need the trusted adviser because we are in uncharted territory. I'm getting calls and emails from folks saying I heard the interest rates dropped to some crazy level. Or they hear the prime rate dropped and think the long term mortgage rates are equally low. No one wants to lose out on locking the lowest rate they can.
Now is when having a trusted adviser is so important. Someone who can explain what is going on and why. Someone who understands the market and is more interested in the right advice as opposed to just booking a loan that may or may not close. Someone who can deliver on a promise. Someone who does business in a more personal way where relationships matter. Someone who is pragmatic and forward thinking. Someone who specializes in great communication and customer service.
While households grapple with how to deal with the corona virus, deal with the daily adjustments due to shortages at the store, home schooling kids, missed scheduled events, being sent home to work remotely or being laid off there is a lot of misinformation floating around about refinancing and interest rates. If you have had a refinance on your radar that adds even more stress!!! Going forward there will be a really defining difference between placing your trust with someone you know can deliver on promises or going down the rabbit hole of too good to be true or dealing with an online mortgage company who does not specialize in personal service.
While in our business generally bad news is good for mortgage rates at this very moment the world is in such turmoil that what is happening with lenders is not normal. A trusted mortgage adviser can clarify the market for borrowers and provide guidance as to when is the right time and what is the right reason to refinance or lock a mortgage rate.
Now is the time for real estate professionals to recommend the loan originators who put the client first always by delivering the right product at the right price and on time. Now is the time for borrowers to ask all the questions so they know what they are getting. Now is the time for a trusted mortgage adviser.