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At a
recent REALTOR® marketing meeting we overheard two conversations, both
involving non-Cherry Creek loan officers, one about the market and the
other about their employers. One loan officer worked for a bank and the
other for a local mortgage broker. 1st Loan Officer -- "Are you having problems with appraisals? Many of mine are coming in low and are saddled with deal killing conditions." 2nd Loan Officer -- "I'm experiencing the same thing. Plus, underwriting is tougher than it has ever been, and our underwriters really are not accessible to us to run questions by or to talk through problem files." 1st Loan Officer -- "Yes, this industry is just not fun anymore. Lots of my old Realtor® clients have stopped using me because of everything we are talking about, plus our slow service." THAT IS NOT HOW WE VIEW THE MARKET and THAT IS NOT HOW OUR APPRAISAL OR UNDERWRITING DEPARTMENTS WORK. 1. HOW
WE VIEW THE MARKET: Realtor® Relationships Building: Everyone knows that the future lies in purchase business and that a loan officer must have many Realtor® relationships going forward. Our loan officers are taking Realtors® away from big bank loan officers and mortgage brokers every day for four big reasons. 1. The Cherry Creek appraisal advantage (see benefits) makes Realtors® want to use Cherry Creek exclusively because it gives them the best opportunity of getting their transactions closed. Far fewer low appraisals and far fewer ridiculous conditions make our appraisals "Realtor® friendly". 2. Cherry Creek underwriting: no underwriting is "common sense" anymore but at Cherry Creek we are able to talk directly to our underwriters whenever there is any issue that might keep a loan from being approved. This is a huge benefit over a bank or broker loan officer. 3. Faster service - our appraisal can be done in a few days if necessary. Our underwriting is 4 days. Our doc drawing is 24 to 48 hours. Few, if any bank or mortgage broker loan officers can match those turn times. 4. The Cherry Creek FHA advantage - no company compares to Cherry Creek when it comes to processing, underwriting, and closing FHA loans. Our FHA appraisals work even on "as is" properties and are never "over conditioned". Our processors know FHA backwards and forwards, and our underwriters never add frivolous or ridiculous conditions. 5. The Cherry Creek "new opportunity conversation" - REALTORS® are looking at 2011 with trepidation and uncertainty. Many are negative about their industry. The greatest thing that a loan officer can do in 2011 is show and teach a REALTOR® how to do more business from the clients and contacts the REALTOR® already has. Doing this brings a REALTOR® a new outlook, a new excitement, and the reason to have a great relationship with YOU! Our new opportunity conversation" is proving to be the most powerful relationship bonding strategy we have ever seen because REALTORS® have never been shown how to think and act this differently before. The conversation is most effective with good to great producing REALTORS®. The "opportunity conversation" allows a loan officer to set a 1 hour appointment with every worthwhile REALTOR® they meet. 6. Our corporate marketing program - some loan officers with good presenting skills and a desire to create a new platform for their business will find great success by having access to our corporate marketing program. A loan officer can use the program to gain access to 1,000's of people they would otherwise never have contact with. REALTORS®, CPA's, financial planners, etc. are eager to partner with a loan officer who can give them access to such a rich base of potential clients. 7. Consumer lead generation - Cherry
Creek is a proud affiliate of HEROCARE,
a non-profit organization that brings special
srvices to the heroes that serve our community. HEROCARE is the
greatest consumer lead generating program a loan officer will ever have
an opportunity to participate in. Check it out at www.herocare.org. At Cherry Creek we believe that we give a loan officer a better opportunity to grow and expand his/her business than any other big bank, mortgage company or mortgage broker.
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