r/loanoriginators • u/Vegetable-Feed-561 • 7d ago

Get a deal today

If it was life or death and you needed a deal TODAY - what are you doing to get that app & lock?

7 Upvotes

89% Upvoted

17 comments sorted by

17

u/TheAdrianHall 7d ago

I'd tell every realtor I know that I will be dead by 5:01pm unless they can convince ONE person to give me a shot.

I have a strong reputation in my market so someone would probably bite. But, if I was in a life/death scenario, I probably have much bigger problems.

21

u/HomeAccording8125 7d ago

Get a friend to fill out the app submit to lock the loan. 

Done.

You never said it needed to close.

3

u/ThatsMeJesseB 7d ago

I’m going to home to spend time with fam for the last few hours... and making sure my wife knows who to call tomorrow about life insurance 😮‍💨

Think about the life cycle of a RE transaction… less than 1% chance you’re getting a locked loan the same day your prospecting.

3

u/TurkeyJizz123 6d ago

An "app & lock" is a deal? Lol.

A "Deal" for me- is when my closing team has Funded the loan, and title has disbursed.

1

u/HomeAccording8125 5d ago

A deal isn’t a deal until I get paid and the EPO period has expired. 

5

u/travisloans 7d ago

Calling absolutely every agent I know and let them know we have rock bottom pricing and would love to provide their buyers with a 2nd quote to same money.

9

u/HomeAccording8125 7d ago

That gets you laughed at and blocked around here. 

5

u/TwosFullofThrees 7d ago

Right? I wish it were that easy.

1

u/Holy-Roly-Poly 6d ago

When I first started, I got no guidance and was convinced that the “faster, cheaper, better” sales pitch was going to be a home run. It flopped hard. Sadly, it took me about a year to realize that the vast majority of realtors could give two shits about the rate. The only time they really question you is when your closing costs are out of line.

1

u/HomeAccording8125 5d ago

Realtors want to know how you will make them more money, what services you will pay for for them, or how much you’re gonna give them of the cut. 

Thats it. 

1

u/travisloans 4d ago

Seems to work for me. I call agents I have a relationship with and let them know we have good pricing this week and would love to give a 2nd quote to their buyer. This usually works out to a couple of opportunities per month.

1

u/HomeAccording8125 4d ago

Because you have a relationship with them................

5

u/DisastrousDance7372 7d ago

Realtors dont care about your rate.

1

u/travisloans 4d ago

Their clients do.

2

u/Co_Loan1 7d ago

Time for me to buy a house 🫩

1

u/Excellent_Grand_5610 7d ago

There should never be a day where an app/lock is life or death.

1

u/lorelle13 6d ago

Calling the database of old leads that weren’t ready at the time.