“Simple reminders save stress”

You can’t remember everything. The good news is you don’t have too! One of the key coaching points I share is to have your process well defined, and then laid over a timeline specific to that transaction. Every market is different; sometimes loan programs have different requirements that can cause a different timeline from other transactions. As the lending expert, it is your job to be in control of the process and the timeline. Setting up simple timeline reminders can make your life and your business much more manageable.

When you set the expectations for each specific transaction, it is important that you set the transactional timeline for each step of the process. A step by step, day by day, deadline by deadline for you to manage and for you to share with everyone involved to be sure things flow as they should. And if they don’t, you are there to respond quickly to get things back on schedule.

TRID has been a hassle to many and a blessing to a few. Those that saw TRID as an opportunity to differentiate them from the rest of the market have now begun to see the rewards. More and more people are frustrated by the delays and extended timelines are seeking those professionals that are mastering the process and still closing in less than 30 days. This doesn’t happen by accident, it happens with planning and schedule discipline. That discipline can be simply accomplished by setting up timeline reminders so you are on top of your files. If something is delayed, your reminder lets you know and get you back on track. These reminders can be programmed into your electronic calendar, or simply written in your day planner. It doesn’t matter how you schedule your success, just that you do it!

Simple reminders to the client and referral partners can also save you stress. Reminding your Realtors® to have sales comps ready for the appraiser at the time of the appraisal to help justify the price, can help prevent short appraisals. Simple reminders also help keep your Title Company and Attorneys on track to have their final numbers to you at a predetermined time so your closer can have time to prepare the CD early for review and quick delivery to the client for approval.

Simple reminders to the client that keep them focused to not make any big purchases, not to apply for any new credit, don’t move any money around or make large cash deposits. These simple things can cause big problems or even the death of the deal in some cases, so why not be prepared with a series of simple reminders that help keep everyone on track, and focused on a successful transaction?

It won’t take long to look at your file flow process and set it up. Once you have them complete, it’s just a matter of scheduling them for delivery when you set the transactional timeline. The old saying “an ounce of prevention is worth a pound of cure” really resonates with me on this one. Take some time and get this done. The deals and stress you save will be your own!

Questions or comments: Mike@IMTcoaching.com or visit us online at http://imtcoaching.com

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Mike White

Improve My Tomorrow Coaching is a company founded by Michael F. White to help mortgage professionals reach their true potential. Based on a belief that working the fundamental principles of the loan origination business combined with a solid system to leverage your day to day business into a self sustaining career! If you are looking to generate consistency in your business, you need to know and implement the fundamentals. Once you know what to do and when to do it, being a mortgage professional is fun, challenging, and profitable. Since the average loan originator in the country closes less than three loans a month, the average originator is unaware that closing seven, ten, twelve or more loans per month is often easier and less stressful than just two or three! If you are tired of the pain and punishment of not knowing where your next deal is coming from; if you spend more time being “busy” instead of “productive”; you need to look and see how we can help you get to a whole new level of business. Take some time to explore this website and read all the free information. If you find some things that cause you to rethink how you are currently doing your business, let us help you! It starts with YOU! There are two programs you can choose, a group program and private coaching. Please look at both before you make your choice.

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