INITIAL CALL TRACK
Possible Initial Response/Questions
A. What’s your Rate?
B. I got a flyer in the mail and …
C: I was wondering if it would be worth it to refinance?
D: I am a physician, dentist, attorney and was wondering about your loans?
E. I was looking at getting a equity line of credit
Follow Up Questions to above Responses:
A: Oh, great question, get a piece of paper so that you can write down everything I am going to give you.
B: Oh Great! What type of flyer did you get?
C: Oh Great! How did you hear about us?
D: (enter info into lending group) Great, how did you hear about us?
Possible Responses:
A: I got one right here
B: I got a flyer about physician loans, dentist loans, attorney loans (select one and will go in the source type)
C (1) I was referred
(2) I got a flyer
(3) Saw an ad etc.
D:(1) I was referred
(2) I got a flyer
(3) Saw an ad etc.
Follow Up Questions to above Responses:
A: OK on the top of the page write my name (spell your name) and what’s your name please?
B: Get a piece of paper so that you can write down everything I am going to give you
C: (1) (Go to referred by track)
(2) What type of flyer did you get?
(3) Where did you see our ad?
D: (1) (Go to referred by track)
(2) What type of flyer did you get?
(3) Where did you see our ad?
Possible Responses:
A: Enter Name (first name)
B: Ok, got one
C: (1) I got a flyer about physician loans, dentist loans, attorney loans (select one and will go in the source direct mail doctors etc.)
(2)Select the response (goes into the Source i.e. Washington Medical association)
D: (1) I got a flyer about physician loans, dentist loans, attorney loans (select one and will go in the source direct mail doctors etc.)
(2)Select the response (goes into the Source i.e. Washington Medical association)
Follow Up Questions to above Responses:
A: Name, How much time do we have right now?
B: OK on the top of the page write my name (spell your own name), and what’s your name please?
C: Great, Get a piece of paper so that you can write down everything I am going to give you
D: Great, Get a piece of paper so that you can write down everything I am going to give you
Possible Responses:
A: Just have a couple of minutes /I have a few minutes
B: Enter Name (first name)
C: Ok, got one
D: Ok, got one
Follow Questions to above Responses:
A: OK if we only have a couple/few of minutes I’ve got to be quick and I’ve got to be thorough. You asked me what rates are, that’s one of three questions you should ask me. Let me tell you what the other two are and I’ll tell you what the rates are. One question you should ask me and anybody you’re talking to, and I imagine you’re talking to some other lenders (pause wait for answer). Whether you’re talking to me or other lenders what you should always ask for is a list of the names and phone numbers of at least three to five people who got a loan from us in the last ninety days that actually closed and they got the rate that they were quoted on the initial phone call. Because I can tell you any rate right now but when we get to closing do you actually get the rate? So of course I will give you that list. The second question you should ask is rate the most important thing or is the amount of money the loan costs me over the life of the loan? And than the third question is what are rates? And right now what type of loan are you looking for?
B: Name, How much time do we have right now?
C: OK on the top of the page write my name (spell your own name), and what’s your name please?
D: OK on the top of the page write my name (spell your own name), and what’s your name please?
Possible Responses:
A: (acknowledge the program and say) Depending on whether you are looking for a loan between 150k and 300k or 300k and 2 million the rates will range from (quote a range based on rate sheet) whether you pay points or not.
B: Just have a couple of minutes /I have a few minutes
C: Enter Name (first name)
D: Enter Name (first name)
Follow Questions to above Responses:
A: Ok but what about….(the prospect will ask another question typically) (we say) Well, to answer that question I am going to have to ask you about 10 questions that will take about 5 minutes so do you want to schedule a time that we can talk on the phone a little longer or can you free up some time right now?
B: OK if we only have a couple/few of minutes I’ve got to be quick and I’ve got to be thorough. There are three questions you should ask me and anybody you’re talking to, and I imagine you’re talking to some other lenders (pause wait for answer). Whether you’re talking to me or other lenders what you should always ask for is a list of the names and phone numbers of at least three to five people who got a loan from us in the last ninety days that actually closed and they got the rate that they were quoted on the initial phone call. Because I can tell you any rate right now but when we get to closing do you actually get the rate? So of course I will give you that list. The second question you should ask is rate the most important thing or is the amount of money the loan costs me over the life of the loan? And than the third question is what are rates? And right now what type of loan are you looking for?
C: Name, How much time do we have right now?
D: Name, How much time do we have right now?
Possible Responses:
A (1)I have 5 minutes Right now
(2)Schedule some time (go to schedule some time track)
B: (acknowledge the program and say) Depending on whether you are looking for a loan between 150k and 300k or 300k and 2 million the rates will range from XXXX to XXXX whether you pay points or not.
C: Just have a couple of minutes /I have a few minutes
D: Just have a couple of minutes /I have a few minutes
Follow Questions to above Responses:
A: Now there are 10 questions that I am going to ask you and from the answers that I’ll get I’ll be able to better suggest a loan program for you (this becomes the ultimate scenario). The first question is can you tell me a little about your situation right now and what’s important to you that you want to get accomplished?
B: Ok but what about….(the prospect will ask another question typically) (we say) Well, to answer that question I am going to have to ask you about 10 questions that will take about 5 minutes so do you want to schedule a time that we can talk on the phone a little longer or can you free up some time right now?
C: OK if we only have a couple/few of minutes I’ve got to be quick and I’ve got to be thorough. There are three questions you should ask me and anybody you’re talking to, and I imagine you’re talking to some other lenders (pause wait for answer). Whether you’re talking to me or other lenders what you should always ask for is a list of the names and phone numbers of at least three to five people who got a loan from us in the last ninety days that actually closed and they got the rate that they were quoted on the initial phone call. Because I can tell you any rate right now but when we get to closing do you actually get the rate? So of course I will give you that list. The second question you should ask is rate the most important thing or is the amount of money the loan costs me over the life of the loan? And than the third question is what are rates? And right now what type of loan are you looking for?
D: OK if we only have a couple/few of minutes I’ve got to be quick and I’ve got to be thorough. There are three questions you should ask me and anybody you’re talking to, and I imagine you’re talking to some other lenders (pause wait for answer). Whether you’re talking to me or other lenders what you should always ask for is a list of the names and phone numbers of at least three to five people who got a loan from us in the last ninety days that actually closed and they got the rate that they were quoted on the initial phone call. Because I can tell you any rate right now but when we get to closing do you actually get the rate? So of course I will give you that list. The second question you should ask is rate the most important thing or is the amount of money the loan costs me over the life of the loan? And than the third question is what are rates? And right now what type of loan are you looking for?
Possible Responses:
A: (enter notes into history) I am looking to purchase/ refinance
<Enter Ultimate Scenario information>
B: (1) I have 5 minutes Right now
(2) Schedule some time (go to schedule some time track)
C: (acknowledge the program and say) Depending on whether you are looking for a loan between 150k and 300k or 300k and 2 million the rates will range from XXXX to XXXX whether you pay points or not.
D: (acknowledge the program and say) Depending on whether you are looking for a loan between 150k and 300k or 300k and 2 million the rates will range from XXXX to XXXX whether you pay points or not.
Follow Up Questions to above Responses:
A: Determine Track: Track #1 Purchase Track #2 Refinance
B: Now there are 10 questions that I am going to ask you and from the answers that I’ll get I’ll be able to better suggest a loan program for you (this becomes the ultimate scenario). The first question is can you tell me a little about your situation right now and what’s important to you that you want to get accomplished?
C: (1) I have 5 minutes Right now
(2) Schedule some time (go to schedule some time track)
D: (1) I have 5 minutes Right now
(2)Schedule some time (go to schedule some time track)
PURCHASE TRACK:
Purchase Track: (Data Collection that has to occur learning questions need to get through them very fast move into the black)
Follow up questions to above responses
A: When do you plan on buying?
B: (enter notes into history) I am looking to purchase/ refinance
<Enter Ultimate Scenario information>
C: Now there are 10 questions that I am going to ask you and from the answers that I’ll get I’ll be able to better suggest a loan program for you (this becomes the ultimate scenario). The first question is can you tell me a little about your situation right now and what’s important to you that you want to get accomplished?
D: Now there are 10 questions that I am going to ask you and from the answers that I’ll get I’ll be able to better suggest a loan program for you (this becomes the ultimate scenario). The first question is can you tell me a little about your situation right now and what’s important to you that you want to get accomplished?
Responses to above follow up questions
A: Found a home but I have not made offer yet (pre-qual letter and pre-approval select and will input into history)
(1) Made offer (pre-qual letter and pre-approval select and will input into history)
(2) Couple of months (pre-qual letter and pre-approval select and will input into history)
(3) Less than 3-6 months (pre-qualify with EOS follow up)
B: Determine Track: Track #1 Purchase Track #2 Refinance
C: Determine Track: Track #1 Purchase Track #2 Refinance
D: Determine Track: Track #1 Purchase Track #2 Refinance
Follow up questions to above responses
A: how long do you see yourself living in this home?
B: When do you plan on buying?
C: When do you plan on buying?
D: When do you plan on buying?
Responses to above follow up questions
A: (1) Less than 5 years (enter into history)
(2) More than 5 years (enter into history)
B: (1) Made offer (pre-qual letter and pre-approval select and will input into history)
(2) Couple of months (pre-qual letter and pre-approval select and will input into history)
(3) Less than 3-6 months (pre-qualify with EOS follow up)
C: (1) Made offer (pre-qual letter and pre-approval select and will input into history)
(2) Couple of months (pre-qual letter and pre-approval select and will input into history)
(3) Less than 3-6 months (pre-qualify with EOS follow up)
D: (1) Made offer (pre-qual letter and pre-approval select and will input into history)
(2) Couple of months (pre-qual letter and pre-approval select and will input into history)
(3) Less than 3-6 months (pre-qualify with EOS follow up)
Follow up questions to above responses
A: What price range are you looking?
B: how long do you see yourself living in this home?
C: how long do you see yourself living in this home?
D: how long do you see yourself living in this home?
Responses to above follow up questions
A: <Enter price range >
B: (1) Less than 5 years (enter into history)
(2) More than 5 years (enter into history)
C: (1) Less than 5 years (enter into history)
(2) More than 5 years (enter into history)
D: (1) Less than 5 years (enter into history)
(2) More than 5 years (enter into history)
Follow up questions to above responses
A: Do you have any cash available for a down payment?
B: What price range are you looking?
C: What price range are you looking?
D: What price range are you looking?
Responses to above follow up questions
A: (1) Yes
(2) No or not much
B: <Enter price range >
C: <Enter price range >
D: <Enter price range >
Follow up questions to above responses
A: How much were you planning on for a down payment?
B: Do you have any cash available for a down payment?
C: Do you have any cash available for a down payment?
D: Do you have any cash available for a down payment?
Responses to above follow up questions
A: (enter $ amount into history)
B: (1) Yes
(2) No or not much
C: (1) Yes
(2) No or not much
D: (1) Yes
(2) No or not much
Follow up questions to above responses
A: Are you self-employed or in private practice?
B: How much were you planning on for a down payment?
C: How much were you planning on for a down payment?
D: How much were you planning on for a down payment?
Responses to above follow up questions
A: (1) Yes, private practice self-employed
(2) No I get a W2 and do not own any part of the corporation/partnership
B: (enter $ amount into history)
C: (enter $ amount into history)
D: (enter $ amount into history)
Follow up questions to above responses
A: (1) How long have you been in private practice / self-employed?
(2) How long have you been on your current job?
B: Are you self-employed or in private practice?
C: Are you self-employed or in private practice?
D: Are you self-employed or in private practice?
Responses to above follow up questions
A: (1) More than 2 years
(2) Less than 2 years
(3) More than 2 years / less than 2 years
B: (1) Yes, private practice self-employed
(2) No I get a W2 and do not own any part of the corporation/partnership
C: (1) Yes, private practice self-employed
(2) No I get a W2 and do not own any part of the corporation/partnership
D: (1) Yes, private practice self-employed
(2) No I get a W2 and do not own any part of the corporation/partnership
Follow up questions to above responses THIS IS WERE ALL THE PROGRAM REFER TO RATE SHEET NEED TO EDIT.
A: (1) (If they have less than 20% down but at least 5% down go to rate sheet/ if they have zero down go to rate sheet check programs under zero down full documentation that fit and say) Based on the information you gave me we can offer you a loan were we would structure it with no mortgage insurance even though your are putting less than 20% down.
Based on the fact that you have been self-employed less than two years we are unable to use your income to qualify you. Standard rules are we need two years of tax returns to prove consistent income. We have a program that will allow you to go to $XXX with 5% down or $XXX loan amount with 0% down. The rates would depend on a fixed rate or adjustable.
C: Based on the fact that bla bla bla fill in by Tane
(if less than 2 years than go to express programs on rate sheet) (if more than 2 years go to alt-A high LTV if less than 5% down go to conv or jumbo pricing if 5% down or more. If loan amount is over 650k look at alt A (Go to alt-A high LTV if less than 5% down go to conv or jumbo pricing if 5% down or more. If loan amount is over 650k look at alt
PURCHASE PRE QUALIFICATION TRACK:
Questions:
A: Can you tell me what your approximate gross annual or monthly income is?
Responses
A: $<enter income>
Follow up questions to above responses
Would you rate your credit as great, good or fair?
Responses
A: Great
B: Good
C: Fair
Follow up questions to above responses
A: Do you have any debts like car payments, student loans? If so what are the approximate balances and minimum payments?
B: Go you know what your credit score is?
C: Go you know what your credit score is?
Responses
A: <enter minimum payments >
B: (Enter credit score is known)
C: (Enter credit score is known)
Follow up questions to above responses
A: My final question is are you working with a buyer’s agent yet?
B: Do you have any debts like car payments, student loans? If so what are the approximate balances and minimum payments?
C: Do you have any debts like car payments, student loans? If so what are the approximate balances and minimum payments?
Responses
A: *Yes
*No
B: <enter minimum payments >
C: <enter minimum payments >
Follow up questions to above responses
Get to program: Based on the information you have provided I might suggest a program that minimizes XXXXX and maximizes XXXXXX with interest only payments. Based on the information you gave me I could qualify you for XXXX I NEED TO COMPLETE THIS WITH RATE SHEET.
REFINANCE TRACK:
Main Refinance Question
Can you tell me a little about your situation right now and what’s important that you get accomplished by refinancing?
Possible Responses: (What they want to do)
A. I would just like to see about lowering my rate and or payment
B. I have a 30 year fixed rate and was looking at going to a 15 year fixed to pay it off sooner
C. I have an adjustable rate and wanted to convert it to a fixed rate.
D. I have a first and second and would like to combine the two.
E. I have need to consolidate some debt
F. I want to pull cash out for investment
G. I want to pull cash out for a second home.
H. I want to pull cash out to remodel.
Follow Questions to above Responses: (Reasons they want to do it)
A. Great! What rate are you currently paying?
B. That’s a great idea. It’s incredible how much interest you can save by going to a 15 year. Can you tell me what your current rate is on your mortgage?
C. What is the main reason you would like to convert to a fixed rate?
D. That can be a great idea. It can make sense if you have a higher rate second mortgage or a variable rate second. What are the rates on you first and second mortgage?
E. That’s a great way to utilize a low rate mortgage and deduct the interest. Do you know approximately how much you were looking to consolidate?
F. That’s a great idea. Mortgage loans can be your best source for low rate, tax deductible borrowing. Can you tell me how much cash you were looking to receive?
G. Buying a second home is really exciting. Depending on how much equity you have it may make sense to borrower against your home or just finance the purchase obtaining a mortgage on the second home property. Can you tell me how much you owe on your current home mortgage?
H. Great! Depending on how extensive of work you are planning on doing I may suggest a couple of options. Can you tell me how much you think you will need out of the refinance to do the work you would like?
Responses to above follow up questions
A. I am paying 6%;6.125;6.25;6.375;6.5;.625 (ENTER RESPONSE goes into History log)
A2. I am not sure
B. I am paying 6%;6.125;6.25;6.375;6.5;.625 (ENTER RESPONSE goes into History log)
B2. I am not sure
C. I want the security of a fixed rate (Ultimate Scenario story)
C2. I was planning on selling before but now I am going to keep the house
C3. (type response and have it entered in the history for the ultimate scenario)
D. I am paying xxx on my first and xxx on my second (ENTER RESPONE into history log)
E. I am looking to pay off xxx (help them by adding up the numbers if needed) (enter response into history log)
F. I am looking to get about xxx ( probe more if they are unsure) (enter response into history log)
G. I owe XXX (entered into history)
H. Yes I am looking for xxx for the remodel (enter into the history log)
Follow up questions to above responses
A. If you were to sell your home today can you tell me what it might sell for? (ENTER RESPONSE into History) (if they are unsure probe further by saying “What are homes in your area of similar age and size selling for?”)
A2. In order to determine your best available option for refinancing I need to know what your rate is. Can you tell me what your principal and interest payment is excluding taxes and insurance? (Enter response into history) Enter into HP – PMT.
B. If you were to sell your home today can you tell me what it might sell for? (if they are unsure probe further by saying “What are homes in your area of similar age and size selling for?”)
B2. In order to determine your best available option for refinancing I need to know what your rate is. Can you tell me what your principal and interest payment is excluding taxes and insurance? (Enter response into history)
C. I understand that’s important to you. Can you tell me which is more important: having the very lowest fixed payment or paying your loan off in 15 years or less with a higher fixed payment? (ultimate scenario)
C2. What made you decide to keep your home? (ultimate scenario)
C3. Thank you. Can you tell me which is more important: having the very lowest fixed payment or paying your loan off in 15 years or less with a higher fixed payment? (ultimate scenario)
D. If you were to sell your home today can you tell me what it might sell for? (if they are unsure probe further by saying “What are homes in your area of similar age and size selling for?”)
E. If you were to sell your home today can you tell me what it might sell for? (if they are unsure probe further by saying “What are homes in your area of similar age and size selling for?”)
F. If you were to sell your home today can you tell me what it might sell for? (if they are unsure probe further by saying “What are homes in your area of similar age and size selling for?”)
G. If you were to sell your home today can you tell me what it might sell for? (if they are unsure probe further by saying “What are homes in your area of similar age and size selling for?”)
H. If you were to sell your home today can you tell me what it might sell for? (if they are unsure probe further by saying “What are homes in your area of similar age and size selling for?”)
Responses to above follow up questions
A. Value entered $XXX
A2. Enter payment in GM and in the as a –PMT in your HP (will use this to solve for current rate)
B. Value entered $XXX
B2. Enter payment in GM and in the as a –PMT in your HP (will use this to solve for current rate)
C. * I would like to look at both
* I would like a 15-year to pay if off sooner
* A lower fixed rate payment would be best.
C2. Enter information into ultimate scenario and tell the “Thank you”
C3 * I would like to look at both
* I would like a 15-year to pay if off sooner
* A lower fixed rate payment would be best.
D. Value entered $XXX
E. Value entered $XXX
F. Value entered $XXX
G. Value entered $XXX
H. Value entered $XXX
Follow up questions to above responses
A. Can you tell me what your balance is on your current loan.? (CALCULATION: enter number into HP then divide into value given to determine LTV) (ENTER LTV INTO GM HISTORY)
A2. Can you tell me what was the original loan amount you borrowed? (enter into HP PV) enter into HP for PV also enter term N 360 if 30 year 180 if 15 year then solve for i%. Then enter the amount in GM field to store in History)
B. Can you tell me what your balance is on your current loan.? (CALCULATION: enter number into HP then divide into value given to determine LTV) (ENTER LTV INTO GM HISTORY
B2. What was the original amount you borrowed? (enter into HP for PV also enter term 360 if 30 year 180 if 15 year then solve for i%. Then enter the amount in GM field to store in History)
C. Can you tell me what your balance is on your current loan.? ( CALCULATION: enter number into HP then divide into value given to determine LTV) (ENTER LTV INTO GM HISTORY
C2. Can you tell me what your balance is on your current loan.? ( CALCULATION: enter number into HP then divide into value given to determine LTV) (ENTER LTV INTO GM HISTORY
C3. Can you tell me what your balance is on your current loan.? (CALCULATION: enter number into HP then divide into value given to determine LTV) (ENTER LTV INTO GM HISTORY)
D. Can you tell me what your balance is on your current loan.? ( CALCULATION: enter number into HP then divide into value given to determine LTV) (ENTER LTV INTO GM HISTORY
E. Can you tell me what your balance is on your current loan.? (CALCULATION: enter number into HP then divide into value given to determine LTV) (ENTER LTV INTO GM HISTORY)
F. Can you tell me what your balance is on your current loan.? (CALCULATION: enter number into HP then divide into value given to determine LTV) (ENTER LTV INTO GM HISTORY)
G. Can you tell me what your balance is on your current loan.? (CALCULATION: enter number into HP then divide into value given to determine LTV) (ENTER LTV INTO GM HISTORY)
H. Can you tell me what your balance is on your current loan.? (CALCULATION: enter number into HP then divide into value given to determine LTV) (ENTER LTV INTO GM HISTORY)
Responses to above follow up questions
A. $xxx balance enter into GM
B. $xxx balance enter into GM
C. $xxx balance enter into GM
D. $xxx balance enter into GM
E. $xxx balance enter into GM
F. $xxx balance enter into GM
G. $xxx balance enter into GM
H. $xxx balance enter into GM
Follow up questions to above responses
A. How long do you see yourself living in this home and having the mortgage?
B. If LTV is > 80% tell them that in order to avoid mortgage insurance we need to do a first loan at 80% of the value and the remaining amount due on a second loan. (Look to rate sheet and price loan based on loan amount, loan to value, and 15 Year fixed rate. Quote loan with no points and 1 point. if LTV is < 80% Go to rate sheet and quote with no points and with points. Tell them that rarely do our (physician, attorney, dentist clients or clients) pay points do to the overwhelming tax advantages by not paying any points. The reason is because the points are deductible but the write-off must be over several years versus interest paid is deductible every year. (IF THE LOAN IS LESS THAN 180K DO NOT GIVE THEM THE NO POINTS OPTION) Calculate the payment and give it to them. Then give them the estimated break-even in months and years.
C.
If LTV is > 80% tell them that in order to avoid mortgage insurance we need to do a first loan at 80% of the value and the remaining amount due on a second loan. (Look to rate sheet and price loan based on loan amount, loan to value, and fixed rate. Quote loan with no points and 1 point. if LTV is < 80% Go to rate sheet and quote with no points and with points.
D.
E. How long do you see yourself living in this home and having the mortgage?
F. How long do you see yourself living in this home and having the mortgage?
G. How long do you see yourself living in this home and having the mortgage?
H. How long do you see yourself living in this home and having the mortgage?
I. How long do you see yourself living in this home and having the mortgage?
J. How long do you see yourself living in this home and having the mortgage?
SET THE APPOINTMENT TRACK:
Question:
A: How does tomorrow sound either morning or afternoon?
Lead: How about morning
LC: What time is good for you in the morning early or later?
Lead: Later
LC: Great, how about 11:00 for about 10 minutes?
Lead: Sounds Good
HOME EQUITY LINE TRAC:
WHY THEY SHOULD DO BUSINESS WITH US TRACK:
REFERRAL TRACK:
