Posts Tagged ‘utah broker’

Is it really that bad?

I do, seriously, love Twitter.

One of the things I love about it is the ability to monitor the conversation about my company, and respond quickly when someone has a problem.  Okay, not MY company, because frankly, nobody on Twitter is talking about us.  But my industry, yes.  There is a LOT of complaining going on about mortgage people, companies, brokers, all of that.

I didn’t really have any idea.  Most of the time when people come to me they’re not complaining.  Afraid, yes.  Worried that things are bad and not going to get better.  But they don’t come into my office and say “you never explain anything, your service sucks, and the entire mortgage process makes me feel faintly nauseous.”

This is, however, how they feel.  And I didn’t know it.

I had a short back-and-forth with @mototom (Tom Parker), in which he said, in part, “Same old — daily auto-dialer calls with pre-recorded voicemail messages. Crap follow-up once you’re working with them.”  And this was worse: “But it may be impossible to humanize it. No matter what, doesn’t it still come down to numbers plugged into a machine?”

Oh.  My.

Now I admit in this space all the time that I am not perfect.  I am far from as disciplined as I would like to be, and that lack of discipline shows up most often in communication, where I don’t do as well as I should at keeping my clients apprised of what is going on.  But I hope – I pray – that my clients don’t feel that they’re not human to us.

I guess I had better ask.

No, Tom, you are not a couple numbers plugged into a machine.  You should not be treated that way.  You should never feel that way at all, ever, at any point in the process.  That you do feel that way is a terrible indictment of mortgage brokers and loan officers, and on behalf of the entire industry, let me offer you a sincere apology, and my personal commitment to do things better in the future.

So that even if we never work together, your willingness to speak out will have helped someone.

RateWatch – Local Boy Makes Good!

Market: As noted last week, rates have been drifting higher, but today has seen a reversal in the bond market and I would expect that we would get some of last week back.  We’re up about 35 bps, which is geekspeak for “about half of an eighth of a point” when lenders get around to giving it back to us.  We’ve been frozen at this level all morning, so I don’t think there’s any real news making this push.
Analysis: We had a good-sized selloff in bonds last week, but honestly people, it’s not as big a deal as CNN says it is.  The MSM always trumpets a move in bonds – either direction – as a Sign of the Apocalypse or a Vision of the Rapture, and you just have to tune that stuff out.  If the market moves dramatically, so that we’re talking about a move of .25% or more, the big news will be something else, and any move in rates will be drowned in it, except here, because on RateWatch rates are all we care about.  Seriously, there’s no way Maria Bartiromo is watching the FNMA 4.0 30-year bond for indications of how the latest pirate attack affects your refinancing prospects.  That’s what I do.
If the talking heads are talking mortgages, that means there isn’t any significant news moving things, which almost certainly means that the movement is tiny.  Amplified and outsized by newsmedia, but it’s a tempest in a teapot.
Tidbit:  You can follow me on Twitter now (@chrisjoneslehi), and I got my first big hit today when @alphaconsumer, also known as Kimberly Palmer of US News and World Report, blogged about rates and points and cited yours truly.  Kudos to @dellojoio (Enoch Chapman) for turning me on to the possibilities of social media.  Utah mortgages may never be the same.