Expert Insights: Creating an Experience Focused on What Borrowers Really Want

“We’re coming out of a 7 1/2-year period where we had the lowest rates in history, and with that, our loan officers fell into a non-relational mindset where they quoted price, got the loan and went on to the next quote. And that approach is burying us today.” -Dale Vermillion, Vermillion Consulting

Award-winning mortgage industry consultant, trainer, and author, Dale Vermillion spoke at length during Experience 2019 about how to create an optimal atmosphere for borrower success in a highly competitive market. With over 35 years of consulting experience, and having trained over a million loan officers, Dale shared insights around the ways lenders can build a truly exceptional lending experience to attract new borrowers, and create customers for life.

Today’s mortgage lenders are in the midst of the most competitive and opportunistic market atmosphere in recent memory. However, many sales teams continue to rely on old ways of doing things, but fail to understand why they’re not experiencing growth. Dale pointed out that lenders can better adapt to new market conditions by rethinking their sales approach to create an exceptional borrower experience from square one.  

Dale stressed the importance of understanding the borrower decision-making process. It is a stepped progression, where borrowers seek multiple points of validation before making a decision. As one of their prospective lenders, you must first ensure that borrowers understand how you are going to help them. Once they are comfortable with that, you can present your qualifications to boost their confidence.

Building a responsive relationship is key. You need to get to your customers quickly, provide an up-front value proposition based on their needs, and nurture the relationship before you secure a commitment. In short, your goal is to get your customers to love you….before, during and after the point of sale. Loan officers need to stay in contact with their clients and create an atmosphere that will lead to repeat business and referrals over time.

Learn more from Dale, and other industry experts, in the new eBook, Driving Innovation Home: Expert Insights for Consumer Engagement.

Experience 2020 is just around the corner, and will be hosted in sunny San Diego on March 23-25, 2020. Take advantage of early bird pricing now, and plan to join leaders from across the industry to drive innovation home. Register now for Experience 2020.

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