It is important for both you and your borrowers to understand specific mortgage lingo. Having this knowledge speeds up the mortgage process. Also, it prepares your clients for what to expect at each step.
So, make sure to discuss specific mortgage lingo with your clients. After all, you are the expert and you serve as their trusted advisor!
Free, Shareable Resources For Borrowers
Keep in mind, happy clients will want to share their great experience with you with friends and family. So, share this borrower-friendly blog post with them as a helpful educational tool.
The Mortgage Update is a free, shareable resource that you can send to customers.
Also, consider posting on social media. This allows you to interact in a more personal way and start a conversation with your prospective customers.
Read the Article on Mortgage Lingo Today:
Often, your clients have questions about particular phrases on a document. So, being extremely familiar with mortgage lingo shows how you are a trusted advisor.
After all, loan officers have an obligation to make clear to the borrower the meaning behind each document and agreement. So, be sure to educate your borrowers on mortgage lingo that familiarizes them with the mortgage process.