When your clients put their trust in you to handle their mortgage, they’re counting on your support. Anything you can do to make the home buying process as smooth and friction-free is a great start. But what can you do beyond that to build a long-term relationship with borrowers?
When your clients put their trust in you to handle their mortgage, they’re counting on your support. Anything you can do to make the home buying process as smooth and friction-free is a great start. But what can you do beyond that to build a long-term relationship with borrowers?
Our philosophy at Newrez is to “care fiercely,” and that means offering support that goes beyond financial transactions and paperwork. Emotions can run high and there are a lot of moving parts in the mortgage process that can quickly feel overwhelming. But caring fiercely is about fully understanding that human element of the process and remembering that we’re in the relationship business, not just the financial.
To discuss ways you can care fiercely and deliver the best possible experience for clients, we welcomed Jordan Calamia, Divisional Vice President of Newrez, and Jon Haddad, President of Next Door Lending and Chairman/CEO of Association of Independent Mortgage Experts (AIME). They share great tips on how to make your experience unforgettable during this purchase season.
Purchase season is about more than just mortgages
Purchase season is about more than the simple process of helping people buy a home.
For Jon, purchase season reminds him of his family, who struggled with a lack of information on the mortgage process. With better preparation and more guidance, Jon believes they may have received a better loan experience – which is what Jon always strives for with his clients.
Purchase season is important to Jon because it’s not just a purchase, it may be a step toward generational wealth. It’s a huge achievement to buy a home, and many homeowners may have never imagined it would be possible. Jon likens his role to helping people live the American dream and build wealth and security for themselves.
Recognizing that deeply personal element to the homebuying process is an essential part of being a great loan officer, Jon explains. It’s this philosophy that he infuses into his businesses to make sure his teams are always going one step beyond what’s expected to help buyers.
How to prepare for a successful purchase season
As Jordan explains, gearing up for homebuying season is like painting a room – it’s all about the prep work.
Newrez approaches purchase season by making sure our broker partners know everything they need to know before seeing a higher volume of monthly loans. We spend a lot of time coaching, training and doing demos on features within the Newrez portal so that brokers are well-prepared for the busy season.
Jon’s approach at his companies starts by recognizing that the excitement of buying a home can be short-lived once home buyers get approval. His job is to keep that excitement going, and part of that is making sure there’s consistent follow-ups via “land, air, and sea” – email, text, and phone calls to keep that excitement high.
Growing your business during busy purchase periods
“Care fiercely” is our mantra, and that means recognizing that each transaction is more than just a number. Clients have unique values, goals, and families, and they’re trusting their brokers to keep their best interests at heart during the mortgage process. We want this philosophy to be the driving force behind every interaction with brokers and their clients.
Jon knows all too well that busy seasons don’t last. He says the key is to be prepared and fully commit when things get hectic to make the most of the season, even if that means getting up early in the morning and putting those extra hours in. Because you never know when the season will change!
What to do post-purchase season
When things get quieter, this is the time to reflect and learn from your busy period. Be honest about what went well and what didn’t and learn from those experiences. Don’t be afraid to ask for feedback. New strategies and processes may be needed to make sure you’re always improving.
Jordan calls himself “a student of the game, always learning.” He likes to make scheduled checkpoints throughout the year to spend some time reflecting on what he’s learned to become more effective in the future.
One of the strategies that Jon uses during quieter periods is to focus more on refinancing. Fewer people are looking to buy a home after the summer season ends, but there are still opportunities to reach out to past borrowers to see if they are looking to save money on interest or take cash out of their equity.
How to “care fiercely” and maintain great relationships with clients
Caring is one thing, but showing your clients that you care with real actions doesn’t always come naturally. Jon suggests scheduling time in your day or week for just 15 minutes to show care and appreciation for someone else. Make it a part of your routine.
Jon gives this example: Say you helped 20 people buy a home in the last 12 months. There’s no reason why you can’t make two short calls a week to check in on them. Ask simple questions like:
- How's it been being in the home?
- What are some things you don't like?
- What would you have done differently?
This appreciation practice doesn’t have to be about business either. Jon recommends setting time aside to send a thank you voice note or words of affirmation to friends, family, or colleagues. Jon does this every single morning.
Another way to care fiercely during the mortgage process is to remember that things can move fast in the mortgage game. There are lots of people involved and a lot of moving parts that can feel overwhelming for buyers.
Jordan’s tip is to slow down and remember the client on the other end of the transaction. They’re making quite possibly the biggest financial decision of their life – but it’s not just about the money; it’s about their home, their future, and their security. Take times to check in with them throughout the process if you want to build a great long-term relationship with borrowers.
How to make your experience unforgettable for clients
If you want to leave your clients with a lingering good impression of your firm, then you need to go above and beyond.
At Jon’s company, the biggest way they do this is to put together a packet for every borrower for when they move in. This includes things like average costs for repairs that may be needed and contact details for renovation or repair companies in the area. There’s also a drip campaign that starts after closing with notifications and reminders for things like checking your gutters or shoveling your snow throughout the year.
Jon also encourages his team to have serious conversations with borrowers about potential additional costs such as if the AC or heater goes down or the roof needs a repair. His team always tries to highlight potential issues flagged during inspection and bring them to the attention of the borrower. During the stress and excitement of buying the home borrowers can sometimes miss these warnings, so this is a great way to support them.
“Please take care of them,” Jon said of borrowers. “They're paying the bills.”
If you commit to clear, consistent communication and aren’t afraid to have those difficult conversations, your clients will thank you for it. They’ll know they can trust you, and if they ever need to refinance or secure another mortgage, they will come back to you instead of shopping around.
Showing clients you care doesn’t have to take a huge amount of time if it’s built into your service.
It’s often the little things that make the best impressions. Jon’s team likes to show up to closing with a little gift, share voice messages during holidays or birthdays, and schedule regular check-ins about equity or interest rates.
Jon likes to keep this question top of mind: “What are you doing to make that consumer feel good? Remember, when they closed that loan, they helped put food on your table. You made commission. So what are you doing to make them feel good?”
How Newrez supports brokers
The quality of your service and support to clients also depends on having a great wholesale loan partner. More and more brokers are choosing to partner with Newrez, so here are three ways we support them.
1. Communication
We have a proactive approach to communication and make sure that our partners know exactly where their files are every step of the way so they can update clients about the loan’s progression. Our account executives reach out to brokers at strategic key milestones to make sure everyone’s in the loop.
2. Availability
“Availability is the best ability,” as Jordan says. Things can move fast during the mortgage process and sometimes urgency is needed. Newrez account executives work within that same sense of urgency and understand that brokers like you are focused on building a name for yourself in the industry. And to help, we put a huge emphasis on making you look good!
3. Expertise
We’re a top lender in the wholesale space with a range of products in the market. Whether you need a bank statement loan, an asset qualifier, or a streamlined jumbo loan, our account executives know these products inside-out and are equipped to advise you on the best options for borrowers.
Jon and Jordan are both in agreement – it all comes down to communication. Whether that’s between you and your clients or us and our broker partners, clear, consistent communication (even when difficult) is essential so that everyone wins.
Remember, there’s always a borrower on the other end of the transaction who deserves to be supported fully. They’re paying the bills after all.
To learn more about how to be a broker partner with Newrez, read about our broker portal, Blueprint.
Newrez LLC is not affiliated with Next Door or the Association of Independent Mortgage Experts (AIME).