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darkstar
18289 Posts |
 Posted - 06/29/2008 : 2:56:26 PM
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Please feel free to add your own technique or critique in regard to how you educate your borrowers about the dreaded "trigger call(s)" they may get...Here's mine:
I do this AFTER I pull credit:
"maam, now that I've pulled your credit there is something we need to discuss...The credit bureaus have a program which will now send your information to mortgage brokers, how many, nobody knows, could be tens, could be as many as a hundred...Some of these brokers will now call you knowing you are in the market for a mortgage and may, well, 'bend the truth' to trick you into thinking they work with or for me or that I sent your info to them...Can I ask how, and only because I may be able to help, how you plan on dealing with those calls?...
I've heard things from "I'll hang up on them" to "if they can beat your deal, I'll have to go with them"...That takes us all the way from the 'no action required' thru 'remain cautious/check frequently(gullible, easy or vulnerable types)' to 'I missed something and I need to go back and tighten it up' ranges...
You don't want to push the situation but not educating them will keep them defenseless and us subject to "that call" from the borrower which we all hate, "Joe said he could beat you deal blah blah blah" or worse, never being able to contact them again...
At least leave with a good feel of how they will handle them, and like the middle one says, sometimes your gut tells you to check often as they may be the type that fall for anything...Even educating them doesn't guarantee protection but not educating them offers none or in some cases you the chance to have the last word!...
The other way to offer the most ontime awareness of and protection is to stay in constant communication for the first week...Most trigger calls will be within the first few days of your pull so make a point to contact them once a day until they get a call or until you feel they may have escaped the 'trigger'...Also discuss or send them info for Opt-out and the DNC, won't really help you, but shows you care!...
No signatures please, let's keep this spam free! |
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ritabradley01
3228 Posts |
Posted - 06/29/2008 : 5:33:04 PM
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Good stuff Darkstar. Thank you.
I used something like this on a new client I got the end of last week. I find it a little awkward somehow-always feel like they think I'm full of it when I mention that the other guy "may bend the truth" etc. But the guy in question has a pretty low credit score so he knows if he runs his credit again he might create more problems for himself. |
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darkstar
18289 Posts |
Posted - 06/29/2008 : 6:14:06 PM
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I try not to use words like 'lie' or 'deceive', I think "bend" is soft LOL
The hard questions are always awkward, scary, outside of our comfort zone, however you want to put it, usually it's the answer we fear more!...
Better to hear, "I go one of those calls last night, he said the exact line you said he would, I giggled as I hung up" than "hey, sorry I didn't call you back, this other guy called and said he could do better blah x3"?...Never a guarantee they still won't fall for the trigger, even after you educate them, but your education will surely make them less apt to fall for the worst lines...You hope... |
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