Last Tuesday, the Fed announced that they’ll purchase up to $600 billion in mortgage backed securities. Mortgage rates plummeted dramatically for a short while, but began heading back up later in the day. You probably got a few refi applications, but not as many as you’d have liked.
I’d like to thank Scott Evans of Family Mortgage of Georgia for this month’s Innovation. Please click below to see our:
“Rate Lock – Action Plan” Letter
Top of Mind’s Rate Lock Letter
The Idea:
Scott Evans was able to lock 14 loans in a 3.5 hour window because he had established Action Plans with his client database, allowing him to lock loans immediately upon a rate drop. With precious little time to act, Scott spent less time chasing down client permissions and more time locking loans.
The Execution:
Let Top of Mind send the “Rate Lock – Action Plan” letter to your contact database. It will get the phone ringing immediately. You’ll want to review each client’s scenario and determine a target rate/program. So the next time the market moves dramatically, you’ll be able to act immediately – and lock more loans.
The cost:
$1 per letter – signed, sealed and delivered!
Please call or visit our site if interested.
(866) TOP-MIND or http://www.topofmind.com
