TRANSFER AGENTS RESPONSIBILITY ON TRANSFER
[WHAT TO EXPECT]
Our agents are trained to verify your specific, custom selected filters. It is their responsibility to verify the following in most cases and depending on the loan product. A QUALITY TRANSFER IS A CALL WHERE THE MDM AGENT VERIFIES THE FILTERS AND SPARKS ENOUGH INTEREST TO BE WILLING TO BE TRANSFERRED TO YOU. IF THE STORY CHANGES DUE TO CONSUMER MAKING A MISTAKE OR NOT BEING TRUTHFUL THE CONTENTS OF THE FRONT END CALL RECORDING WILL BE USED AS EVIDENCE TO SUPPORT A VALID TRANSFER. In other words if questions were asked correctly and consumer responses match filter, the lead has been transferred responsibly by the MDM agent and if durations were met the call WILL NOT be accepted for return.
1. Consumers Name
2. Consumers Telephone Number
3. State in which they reside, and the property is located
4. Real Intent
5. Loan Balance
6. Home Value
7. Property Type
9. Rate Type
10. Cash Out Amount
11. Purpose for Cash
12. Credit Standing regarding late payments, bankruptcies, loan mods, and foreclosures
13. Income Is Verifiable Exceeding Two Times Their Current Monthly Mortgage Payment
If the transfer agent did a good job at conveying the above and if you have a buffer/timer in place and the timed duration was exceeded, the call is deemed billable especially if our front-end recording matches the filters acquired during the initial marketing call. Before the agent completes the handoff and transfer, they will have gone over the above details while introducing you to the consumer. Just before the agent leaves the call, they will ask the consumer if everything they stated was accurate by saying “Mr./Mrs. Consumer, did I explain everything to the loan officer correctly when it comes to your goals?”At this point you will take over the call. If something changes and your call happens to have exceeded the buffer, but the agent crossed all of their t’s and dotted their i’s and it’s documented on the front end recording the call will be deemed billable. Please don’t return the lead if it is valid and especially if it is under the buffer/timer. Unnecessary returns just waste everyone’s time and prevent you from getting on your next potential deal. Remember, the next sale might just be your next call. If the call received did not end in your favor don’t be negative. The worst thing you can do is remain negative and then spread that negativity on to the sales floor. Negativity spreads like wildfire.
RULES FOR HANDLING YOUR INBOUND MORTGAGE LIVE TRANSFERS
[TAKING THE CALL]
Rule Number One: Sound Attentive and excited to hear from the agent transferring your lead. It should sound like the agent is someone you work with regularly and it is great to hear from them again (even if it’s the first time speaking with them). It will build trust between you and the consumer being transferred over.
Rule Number Two: Allow the agent to complete the handoff even if the handoff is a little lengthy. Cutting them off and sounding annoyed will not help you close the sale. The ruder you sound the less likely it will be that you close the sale. Don’t forget to smile when taking the call. Your smile will carry through the phone line.
Rule Number Three: If you have a timer/buffer for a specific duration, be attentive to the time and use a polite and quick intro that will test the consumers intent while making sure basic filters are being. If the call goes bad don’t get discouraged. Politely say goodbye and get off the call. Another call is coming. Remember, it’s a numbers game!
Rule Number Four: Never forget, the consumer on the other line maybe at work just like you are. This is essentially your first date so don’t be too eager to jump in bed just yet. Introduce yourself, provide your NMLS license number, be mindful of their time, attentive to their needs, and most importantly EXPLAIN THE PROCESS so you eliminate the guess work and any uneasy feelings. Last but not least, make friends. Friends trust their friends.
Rule Number Five: Use question based selling techniques when verifying your filters. Remember the consumer was just asked these filter questions before being transferred and in most cases was listening while the agent makes the introduction and just before handoff the consumer will be asked by the agent if they had the filters correct before handing over the customer to the loan officer and getting off of the call. You don’t want to sound overly redundant when asking a question like this…
“What do you think your home is worth?” Instead Say Something Like This…
“Property values are on the rise so I want to make sure we truly understand the value of your home so we can determine the right amount of cash you need compared to what is available in equity. Zillow.com says it’s worth X. What do you think?”
Your consumer should feel like they still have control and you are just counseling them along the way in order to allow them to make their own best financial decisions with your professional guidance.
Rule Number Six: Remember, the consumer is eagerly awaiting a “Free Quote”. They need to have a generic quote offered to them first, based off of their qualifying filters, for you to be able to pique their interest enough to run their credit. It is recommended you don’t lead right into the credit pull. Build rapport and earn some trust first. Be their friend. If you are a loan officer that needs to have the credit pulled in order to sell based off of facts; say something like this…
“I can always offer you a quote without reviewing your credit based on the information we just went over. However, if you wanted a quote that wasn’t designed to fit your specific financial needs you could just ask the internet. You were transferred to me because you had specific goals or needs, and I want to help you achieve them. In order to do that, we’ll need to take a look at your credit together. With your help we can determine the best way to improve your financial situation. What is your social security number?”
Saying something along these lines will drastically help you increase your chances of not only the credit pull but the sale itself, which we all know is extremely important.
Rule Number Seven: Remember, positivity always wins. Negativity kills calls and destroys sales. Your positivity and optimism will carry over the call. Focus on the results and work the call as if you were refinancing your own mother. Gain trust, establish rapport, and never forget that the consumer knows nowhere near what you know about refinancing; so, teach them, consult them, and close them.
YOUR INTRODUCTION WHEN YOU HAVE A TIMER/BUFFER YOU NEED TO BE MINDFUL OF
[FIELDING THE CALL (SCRIPT)]
Your introduction needs to be sincere. Be attentive, and proceed quickly with an intro like this…
“Hello Mr./Mrs. Consumer, my name is Loan Officer with X-Bank. My NMLS License Number is 1003. My assistant transferred you to me because you expressed interest in a “cash out refinance” is that correct? My goal is to provide you with a quote that will improve your overall financial situation while accomplishing your goals around your mortgage. While I could provide you with a generic quote that you could find for yourself online, this quote will pertain to your specific situation. In order to access exact figures for your specific loan scenario we will need to review your credit report so we can paint an accurate financial picture since mortgage are not a one size fits all product. Do you have a few minutes to go over this now, it won’t take too long?”
The above script can be shortened or changed but it won’t take more than 40 seconds to breeze through it. You don’t even have to discuss the credit pull in the first intro question if you don’t want to. The idea is to test the lead and the consumers intent in a short period of time; typically, in under 3 minutes. If the script is followed, not only will you be able to identify if there is an opportunity, you’ll also be able to end the call before the time is up so the call is not billed and you don’t have to worry about processing a return. Especially if it’s not a good call. If it was not a good call, shake it off. The good news is another one is on the way!
WRITTEN BY A FORMER MORTGAGE PROFESSIONAL FOR MORTGAGE PROFESSIONALS
[WRITTEN BY DAESON KUSTER, MANIFEST DIRECT MARKETING CEO]
The above was written by Daeson S. Kuster former 20+ year loan officer, commercial banker, credit manager, and presently the CEO and Founder of Manifest Direct Marketing, LLC. Daeson utilized these techniques in closing his own mortgage live transfers with great success before he started creating the leads with massive success. This stuff really works! We suggest you use it.
!!ATTENTION RESPECTIVE CLIENTS!!
JUNE 30TH MARKS THE LAST DAY FOR RETURNS OR CREDITS FOR LEADS THAT DO NOT MEET A CERTAIN TIMED DURATION
On July 1st, 2019 MDM will no longer validate or assign timed durations on calls in the form of timers/buffers. This does not change lead pricing and returns must still be submitted to Returns@ManifestDirect.com within 24-Hours from transfer time. NO EXCEPTIONS.
WHAT DOES THIS MEAN?
It means any and all calls transferred will be deemed billable. If we did our job correctly and asked all qualifying questions on the recorded line and the consumer was interested and not pushed or talked into transferring, that call will be deemed billable and charged to your account. If on July 1, 2019 you are in the process of having your lead order filled and it has an assigned duration we will complete the current order with timed duration. Your next order will not include timed durations or buffers. MDM offered durations as a courtesy and not a costly add on therefor the removal of durations has no effect on past, current, and future lead price.
WHY IS THIS HAPPENING?
Our offices are busy and fast paced and our policies are in place for a reason. When clients do not follow our requests and return leads under duration that do not need to be reviewed it costs our company, and Quality Assurance team time and money to review returns under buffer/timer when historically in the past if a call was under buffer/timer our technology would prevent it from being marked as billable. When an under duration call still gets submitted for return by the client Quality Assurance has to spend time processing the returned lead only to find out it was not billable as it was since under duration. Because of this MDM would have to raise prices on leads if timed durations were to continue. Rather than charge more, MDM has decided to eliminate timed durations as a whole completely.
NO EXCEPTIONS WHATSOEVER.
WE APOLOGIZE FOR ANY INCONVENIENCE &
APPRECIATE YOUR BUSINESS.
-Quality Assurance & Management