Comments on: Sit and Watch – If You Prefer http://lenderama.com/2007/10/10/sit-and-watch-if-you-prefer/ The Original Mortgage Blog. Providing the Mortgage Industry with News and Information Since 2005. Wed, 17 Mar 2010 10:00:03 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Clark Haynes http://lenderama.com/2007/10/10/sit-and-watch-if-you-prefer/comment-page-1/#comment-456 Clark Haynes Tue, 15 Jan 2008 01:25:27 +0000 http://blog.mariah.com/2007/10/sit-and-watch-if-you-prefer/#comment-456 LOL Thanks Paul.. LOL

Thanks Paul..

]]> By: Paul http://lenderama.com/2007/10/10/sit-and-watch-if-you-prefer/comment-page-1/#comment-455 Paul Mon, 14 Jan 2008 22:56:54 +0000 http://blog.mariah.com/2007/10/sit-and-watch-if-you-prefer/#comment-455 Let me tell you my take on call capture. Ready? The key is to call them back. Sounds simple right? I think so. Clark, one of my LOs was talking to one of your target market recently about call capture. The realtor said "Oh, we have call capture." LO said: "You do?" Realtor: "Yeah, we return the calls on Saturdays" (cymbal tap) Let me tell you my take on call capture. Ready?

The key is to call them back.

Sounds simple right? I think so.

Clark, one of my LOs was talking to one of your target market recently about call capture.

The realtor said “Oh, we have call capture.”

LO said: “You do?”

Realtor: “Yeah, we return the calls on Saturdays”

(cymbal tap)

]]> By: Clark Haynes http://lenderama.com/2007/10/10/sit-and-watch-if-you-prefer/comment-page-1/#comment-454 Clark Haynes Mon, 14 Jan 2008 22:25:42 +0000 http://blog.mariah.com/2007/10/sit-and-watch-if-you-prefer/#comment-454 I work for a call capture company (yes in sales). I have been having quite a bit of trouple presenting this prodcut during this "Market Cricis". I am suprised to here what agents have to say or ask when I aproach them about this service. When I came on board to market this service, I figured it to be a no brainer either an agent would want it or not. But I have found that it is much harder than that. I am having to educate many on what it does and what it can do for them. Here comes the purpose to my adding to your blog. Why is this? When I was in Technology sales I did not have explain what a computer did, I just had to have the best price for the biggest bang. I work for a call capture company (yes in sales). I have been having quite a bit of trouple presenting this prodcut during this “Market Cricis”. I am suprised to here what agents have to say or ask when I aproach them about this service. When I came on board to market this service, I figured it to be a no brainer either an agent would want it or not. But I have found that it is much harder than that. I am having to educate many on what it does and what it can do for them. Here comes the purpose to my adding to your blog. Why is this? When I was in Technology sales I did not have explain what a computer did, I just had to have the best price for the biggest bang.

]]> By: Brett Reichel http://lenderama.com/2007/10/10/sit-and-watch-if-you-prefer/comment-page-1/#comment-453 Brett Reichel Thu, 06 Dec 2007 22:30:17 +0000 http://blog.mariah.com/2007/10/sit-and-watch-if-you-prefer/#comment-453 Paul - Thanks for your help. Very generous of you to share your ideas. Paul – Thanks for your help. Very generous of you to share your ideas.

]]> By: Paul http://lenderama.com/2007/10/10/sit-and-watch-if-you-prefer/comment-page-1/#comment-445 Paul Thu, 06 Dec 2007 21:59:19 +0000 http://blog.mariah.com/2007/10/sit-and-watch-if-you-prefer/#comment-445 Hello Brett, Yes, you deal with the servicer. HUD delegates LM to the servicer and later audits servicers for compliance to HUD's standards. They have a Tier Ranking System to track servicer performance and if need be, you can go over the servicer's head by petitioning HUD directly. <A HREF="https://shop.consumerlaw.org/index.asp?PageAction=VIEWPROD&ProdID=6"><B>National Consumer Law Center</B></A> has some great publications with up-to-date guidelines/case law. Hello Brett,

Yes, you deal with the servicer.

HUD delegates LM to the servicer and later audits servicers for compliance to HUD’s standards. They have a Tier Ranking System to track servicer performance and if need be, you can go over the servicer’s head by petitioning HUD directly.

National Consumer Law Center has some great publications with up-to-date guidelines/case law.

]]> By: Brett Reichel http://lenderama.com/2007/10/10/sit-and-watch-if-you-prefer/comment-page-1/#comment-444 Brett Reichel Thu, 06 Dec 2007 20:54:10 +0000 http://blog.mariah.com/2007/10/sit-and-watch-if-you-prefer/#comment-444 I've got a weak link in my presentation - FHA short sales. you say 63% / 82%- where can I get more info? Do you deal with the lender and they deal with HUD? I’ve got a weak link in my presentation – FHA short sales. you say 63% / 82%- where can I get more info?
Do you deal with the lender and they deal with HUD?

]]> By: Bryant http://lenderama.com/2007/10/10/sit-and-watch-if-you-prefer/comment-page-1/#comment-452 Bryant Thu, 11 Oct 2007 14:51:27 +0000 http://blog.mariah.com/2007/10/sit-and-watch-if-you-prefer/#comment-452 Good idea Paul. Thank you for sharing a great use of call capture marketing and serving FSBO prosoects. I notice the comments are typical "but I can't do that in my market" or "but what about all these fake problems I am imagining will happen in my business if I try this". The amount of the "short-sale" is meaningless. The point is get a new loan funded. I ran a branch with 30 LO's and I was always frustrated by "salespeople" reacting with the problems of new marketing ideas instead of embracing and executing. I believe if is a fear reaction. FIRE, READY, AIM is my game plan in this market. Thank you again for sharing what is working. Good idea Paul. Thank you for sharing a great use of call capture marketing and serving FSBO prosoects. I notice the comments are typical “but I can’t do that in my market” or “but what about all these fake problems I am imagining will happen in my business if I try this”. The amount of the “short-sale” is meaningless. The point is get a new loan funded. I ran a branch with 30 LO’s and I was always frustrated by “salespeople” reacting with the problems of new marketing ideas instead of embracing and executing. I believe if is a fear reaction.

FIRE, READY, AIM is my game plan in this market.

Thank you again for sharing what is working.

]]> By: Paul http://lenderama.com/2007/10/10/sit-and-watch-if-you-prefer/comment-page-1/#comment-451 Paul Thu, 11 Oct 2007 14:14:06 +0000 http://blog.mariah.com/2007/10/sit-and-watch-if-you-prefer/#comment-451 Is the short sale note holder at a minimum not at least attempting to be the source of financing for the short sale buyer? The note holder has a loan in default (usually) and wants the loan satisfied. Doesn’t the loss mitigation department not flinch once they see the pursuit of professional fees or commissions, balking at the short sale offer due to “percieved” conflict of interest issues? 2.5% realtor fee is the norm and the mortgage originator gets paid as well. Shouldn’t the current borrower take the lead, seeking professional guidance through the process? I recommend professional guidance. Is the short sale note holder at a minimum not at least attempting to be the source of financing for the short sale buyer?

The note holder has a loan in default (usually) and wants the loan satisfied.

Doesn’t the loss mitigation department not flinch once they see the pursuit of professional fees or commissions, balking at the short sale offer due to “percieved” conflict of interest issues?

2.5% realtor fee is the norm and the mortgage originator gets paid as well.

Shouldn’t the current borrower take the lead, seeking professional guidance through the process?

I recommend professional guidance.

]]> By: Howard http://lenderama.com/2007/10/10/sit-and-watch-if-you-prefer/comment-page-1/#comment-450 Howard Thu, 11 Oct 2007 14:06:03 +0000 http://blog.mariah.com/2007/10/sit-and-watch-if-you-prefer/#comment-450 First let me state that in the current environment every potential opportunity to serve our clients should be investigated. Some concerns: Is the short sale note holder at a minimum not at least attempting to be the source of financing for the short sale buyer? Doesn't the loss mitigation department not flinch once they see the pursuit of professional fees or commissions, balking at the short sale offer due to "percieved" conflict of interest issues? Shouldn't the current borrower take the lead, seeking professional guidance through the process? First let me state that in the current environment every potential opportunity to serve our clients should be investigated.

Some concerns:

Is the short sale note holder at a minimum not at least attempting to be the source of financing for the short sale buyer?

Doesn’t the loss mitigation department not flinch once they see the pursuit of professional fees or commissions, balking at the short sale offer due to “percieved” conflict of interest issues?

Shouldn’t the current borrower take the lead, seeking professional guidance through the process?

]]> By: Paul http://lenderama.com/2007/10/10/sit-and-watch-if-you-prefer/comment-page-1/#comment-449 Paul Thu, 11 Oct 2007 13:54:13 +0000 http://blog.mariah.com/2007/10/sit-and-watch-if-you-prefer/#comment-449 Hello John, We are in the loan biz and the client or the client’s realtor negotiates the price with the seller. Once we get a contract, we handle both sides of the transaction – processing the mortgage loan for the borrower and processing the short sale for the seller. The client and the client’s realtor don’t need to be experts on short sales. Hello John,

We are in the loan biz and the client or the client’s realtor negotiates the price with the seller. Once we get a contract, we handle both sides of the transaction – processing the mortgage loan for the borrower and processing the short sale for the seller.

The client and the client’s realtor don’t need to be experts on short sales.

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