Are you a Loan Officer that gives the best deal possible? If so, what does that mean? How can you give the best deal possible if you don't know what the borrower wants?
Loan Officer Training - Is the Best Deal Always the Better Deal in the Mortgage Business?
Do you as a Loan Officer know what your borrower means when he says he want's the best deal possible? Ever heard the phrase "I can get a better deal at the other broker shop down the road."
Stop and think about it, when you hear the term "best deal possible" or "better deal" what does that actually mean? Lowest interest rate? Lowest terms? Lowest payment? What? Being a Loan Officer, what do you think of when you hear that term? Most LO's immediately think of quoting a lower rate than their competition, right? We immediately think the term "best deal possible" means the lowest interest rate possible.
Now think about it, since most Mortgage Brokers get their rates from the same place, why do you think the next broker's rates are lower than what you can quote? Let me tell you a little secret: THEIR RATES ARE USUALLY NOT LOWER THAN YOURS! How many people advertise they have the lowest rates in town! Let that one sink in for a while.
Some people believe the Option Arm is the best mortgage on the planet, period. But is it for everyone? A strong case saying yes can be made, but that doesn't mean it's the "better deal" for that particular borrower.
Remember, you are getting paid to be a Loan Officer and a Mortgage Consultant, so never assume you know what the "better deal" is until you ask the borrower what is meant by that phrase. Bottom line because this statement does not say anything just really "good deal for me" statement, I'm looking to go beyond being.
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