Skip to main content

Mortgage Applicants are Like Uber Drivers


Mortgage Applicants are Like Uber Drivers

                                                                  (Both the Driver and Boss!)


As a Mortgage Originator, my ultimate goal in each transaction is exactly the same as my clients':  A successfully completed mortgage transaction and Closing.  

Gene Mundt, New Lenox - Chicagoland Mortgage OriginatorBut neither I or my client(s), should settle for just "getting it done".  That simply shouldn't be enough.  

The buying/financing of a home is momentous.  I want to create an "experience" for them that matches the magnitude of the accomplishment ... a financing experience that's a positive one.

The act of financing a home should be memorable for a host of good reasons.  I myself have been a homebuyer multiple times, and I've certainly wanted a positive experience each and every time I've financed.  I want the same for my clients. 

So how do I go about building that positive experience?  I'm constantly on the look-out for ways to tweak and improve my services as a whole.  I seek things that I can incorporate into the process that will secure "warm and fuzzy" results and create good memories.  

But what I've found that is central ... what is key to accomplishing this positive experience ... relies heavily on client participation.  I, as an LO, can't create a stellar experience on my own.  My clients must "buy into" the mindset and memory building ... and be my partner in its formation.  

What do I mean??  Over the years, I've found those clients of mine that fully engaged themselves in their mortgage process were typically the happiest upon its completion.  

Those clients were also more likely to feel a sense of pride in their accomplishment and had fewer "coulda, woulda, shouldas" afterward.  Much like pro athletes, they put it all on the line and dedicated themselves to attaining success. 

I now find that my observations are verified by a recent Home Buyer Reality Report conducted by NerdWallet.  Tim Manni, a mortgage expert at NerdWallet, points to 2 very important observations revealed within the Report:

     1.  According to our research, borrowers who don’t understand the mortgage process or don’t know enough about their own credit history tend to hit obstacles or be rejected when applying for mortgages." 

     2.  "They also tend to feel regret after their deal is done, even if they succeeded in buying a home. That tells me borrowers aren’t doing enough research—on themselves or the mortgage process—before applying for a home loan.”


Many of those obstacles and challenges mentioned and most often faced by mortgage applicants within this Report can be addressed fairly easily by the applicants themselves.  And when they are addressed, they make a huge impact ... not only to how the mortgage process is experienced but the quality of the process and how easily and successfully it is accomplished too. 

The focus and the responsibility for the creation of a positive experience tend to always be placed on the Loan Officer. What the LO can do or provide their mortgage clients throughout their mortgage process. 

Now let me make it clear.  I'm not saying that isn't important or true.  LOs need to provide quality advice and service to their clients (and referral partners).  

But while it's true the "bar" for LOs can never be too high, it's also true that the mortgage process should be viewed and conducted as a TEAM effort ... a team made of professional and client.  Both performing as fully contributing team members. 

Borrowers shouldn't abdicate actions, control, or all responsibility to the professional(s) representing them.  They need to remain, much like an Uber driver, the boss and "in the driver's seat".  

Applicants must remember they control: 

  • The level of preparation and education they perform and pursue prior to Application 
  • The amount of research they conduct during their search for Mortgage Lender 
  • The level and consistency of their engagement throughout the mortgage process
  • The level and timeliness of their responses to requests made

     ... each of which is directly related to the success and enjoyment found in their financing experience.  

There's no way to sugar-coat it.  Today's mortgage process is more detailed in nature and demanding of an Applicant's attention and time than its counterpart of even a few years ago.  

Knowing and fully accepting that ... then participating accordingly ... is the first step New Lenox - Chicagoland Mortgage Applicants must take when hoping to reap their "happy ending" when borrowing monies to buy or refinance a home ...  


 Contact Gene Mundt to Find Out More
    
        
* Hoping to buy or refinance a home in New Lenox, Will County, or elsewhere in the Chicagoland area? Contact me! I'll put my 40+ years of Mortgage experience and expertise hard to work on your behalf.
I'm easily found at:


Gene Mundt
Mortgage Originator - nmls #216987 - IL Lic. 031.0006220 - WI Licensed

American Portfolio Mortgage Corp.
nmls #175656

Direct: 815.524.2280
Cell or Text: 708.921.6331
eFax: 815.524.2281
 Contact Gene Mundt for a FREE Quote


  Twitter Account of Gene Mundt, Mortgage Lender   LinkedIn Account of Gene Mundt, Mortgage Lender   Facebook Acct. of Gene Mundt, Mortgage Lender   Pinterest Acct. of Gene Mundt, Mortgage Lender   
 Trulia Acct. of Gene Mundt, Mortgage Lender     Gene's Chicagoland Blog/Gene Mundt, Mortgage Lender 

Gene Mundt, Mortgage Originator, an Originator with 40+ years 
of mortgage experience, will offer you exemplary 
mortgage service and advice when seeking: 
Conventional, FHA, VA, Jumbo, USDA, and Portfolio Loans 
in Chicago and the greater Chicagoland region, including: 
The Lincoln-Way Area, Will County, (New Lenox, Frankfort, 
Mokena, Manhattan, Joliet, Shorewood, Crest Hill, Plainfield, Bolingbrook, Romeoville, Naperville, etc.), DuPage County, 
the City of Chicago, Cook County, and elsewhere within IL & WI.

Referrals are Welcomed!















Comments

Popular posts from this blog

Property Addresses: Gettin' Down to the Nitty Gritty

Property Addresses:   Gettin' Down to the Nitty Gritty

Take just a second and read through the following statements ...


“The devil is in the details” 
... "in life, it is often the tiny details that end up 
being the most important"

"Get Down To The Nitty Gritty"

“Little details have special talents in 
creating big problems!” 

“Sweat the details”

"Success is the sum of details"

Details ...Details ... it's all about the details ...
     And I'll admit it, I'm a bit of a nerd about them.  My whole family is.  Details, the intricacies, the little things ... they matter to us.
When I was growing up, a typical conversation (and argument) between my brothers and myself at the dinner table or in the backyard centered around "details".  It didn't matter what the topic was, it was the minor differences ... the details about the topic ... that we argued about.  I'm sure we drove our parents crazy.  
Sports statistics and games ... minutiae rega…

Ready for Fall? It's Arriving Soon

Ready for Fall?  It's Arriving Soon

Friend ...

Maybe it's because football season has started. Maybe it's the kids being back in school. Or because the night air is cooler. But a sense of Fall has arrived here in Chicagoland ...

The Fall Season brings changes with it. Changes in temperatures. Changes to the clothing we wear. Our focus seems to shift with the coming of shorter days, falling leaves, and crisp air.

Fall can be the perfect time to do a multitude of things. You can prep your home for the upcoming winter weather ... or for Fall listing and sale. 

But whether you're moving on or staying put, Fall is a great time to declutter and organize your home inside and out ... and your finances too.

I've googled like crazy to find interesting articles filled with Fall info, ideas, tips, and photos. Articles that will help you usher the Fall Season in at your house. I hope you enjoy reading the articles offered below and that they inspire you to make any needed changes.

Rem…

Paper or Paperless billing? Which serves YOUR needs best?

Paper or Paperless billing?  Which serves YOUR needs best?


These days, companies are under pressure to go "green" and become more environmentally friendly.  As a result, an increasing number of businesses are offering their customers a paperless option with which to receive and pay their bills. 

There are obviously many positives to be found within these paperless services:


Trees are saved  Reduced postage costs  Less paper documentation to organize or save/storePossible rewards for switching to paperlessPayments can often be made/posted same-dayAutomated payments can be set-upMore
But I can tell you from my vantage point as a Chicagoland/IL/WI Mortgage Originator, there are also negatives to be found within paperless methods.  For some of my mortgage clients, the choice of going "paperless" just hasn't worked well.

 For some, an email or text reminder regarding payment of bills has not been enough. They NEED a paper billing to arrive in their mail. 

Their paper bil…