Tyler Hodgson (pictured top), executive vice president of growth at UMortgage, told Mortgage Professional America being front and center amongst the borrowing community was essential for brokers and loan officers against those giants. “We’re going to face a battle when the refis start coming back against the current loan servicers,” he said.
“These servicing companies have it dialed in on how to win refinances and we, as the local brokers, are going to lose a lot of clients to the servicers if we’re not staying in front of those clients, being involved and active, and focusing on those relationships that we have in our databases.”
Meaningful communication a must
Continuing to mine those databases is essential to deepening relationships and keeping connections active with existing clients, Hodgson said.
That needs to be more than just a surface-level interaction or transparent effort to get business. “You have to tee this up and begin this when you do their first transaction and you get to know the person,” he said, “and know what they care about, what their likes or dislikes are, and find out one thing that you could [use to] continue a conversation over time.
The tide is turning for mortgage brokers as interest rates drop! Jonathon Haddad, AIME’s new CEO, urges brokers to adopt an opportunity mindset and capitalize on this “beautiful whirlwind” in the market. https://t.co/uXqKpcmhyc
— Mortgage Professional America Magazine (@MPAMagazineUS) September 27, 2024
“Do they like sports? What’s their favorite food? Do they like to travel? Because if you’re reaching out at the time – ‘Hey, rates dropped, would you like to refinance? I’d like to save you some money,’ it’s too late and it’s inauthentic. You have to continue these conversations and have regular touches with these clients about things that are not just refinance.”