Trust Is Essential In All Businesses

By
Mortgage and Lending with George Souto NMLS #65149 FHA, CHFA, VA Mortgages Connecticut NMLS #65149

Trust is essential in all businesses, but especially important if you are a Loan Originator.  As a Loan Originator you are asking everyone involved in the purchase of a property to trust you with getting the financing required to purchase a property both quickly and as stress free as possible.  Obtaining the trust of others is not easy for a Loan Originator because they are asking everyone else to trust them in many different ways.

For the Borrower the Loan Originator is asking them to trust them with all of their personal financial information.  This requires a lot of trust on the part of the Borrower, because they are giving the Loan Originator access to their Social Security Number, Bank Accounts, Tax Information, as well as at times with very personal information that they do not want made known to others.

For the Realtor the Loan Originator is asking Realtor to trust them with their lively-hood.  If the loan does not Close they do not get paid.  So they have to trust the Loan Originator with the most precious thing in their business, their Buyers.  They have to trust that the Loan Originator will not only get the transaction done in the time periods that are stated in the Sales Contract, but that they will keep them informed throughout the loan process, and, and this is a big and, they do not get hit with last minute surprises that should have been made known to them much earlier in the process.

For the Lender they have to trust that the Loan Originator is honest about the documents that they collect and submit during the loan process.  That the Loan Originator does not falsify or hide anything from them.  That the Loan Originator represents them in a professional manor, and does not put the Lender at risk in any way.

There are four crucial elements in a Loan Originator attaining trust from his/her Borrowers, Realtor Partners, and Lender.

 

  • AVAILABILITY - It is vital that a Loan Originator be available at all times, and not just 9 - 5.  When the Borrower or Realtor Partner has a question the Loan Originator needs to be available for them, and not just when it is convenient for the Loan Originator.  Calls need to be answered or returned ASAP.  The Loan Origination puts the Borrower and Realtor Partners needs above his or her own.
  • ACCOUNTABILITY - The Loan Originator needs to take responsibility for what ever happens during the Loan Process, and not try to pass the blame onto someone else EVEN if it is someone else's fault.  When a problem arises the Loan Originator deals with the issue quickly, and does not try to hide from the issue.  The Loan Originator answers all questions directly and honestly, even if the answer is not what others want to hear.
  • ATTITUDE- How does the Loan Originator act when asked a question.  Does the Loan Originator give the Borrower, and Realtor Partners their full attention, or does the Loan Originator make them feel like they are bothering him or her, or make them feel like their questions are insignificant.
  • AWARENESS - Or knowledge of the loan programs that are available, and thoroughly familiar with the loan process.  Aware of the needs of others involved in the transaction, and does everything possible to reduce the stress until the transaction is completed.

 

Everything above is extremely important for a Loan Originator to do in not only building trust, but also keeping the trust once it is given.  Trust is hard to obtain, but very easy to lose.  Which means that as hard as it is get trust, it is even harder to keep it.  Trust should be treated as a very special and precious thing, and should never ever be taken for granted.

 

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This post is a submission to the ActiveRain / Adobe EchoSign Trust Contest. I could possibly win a prize. You can find out about the contest by clicking here

 

 

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Who To Call For Your Mortgage Needs In Connecticut:

George Souto NMLS# 65149 is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308  gsouto@mccuemortgage.com, or visit my McCue Mortgage Homepage.

 

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Rainmaker
1,062,380
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

You certainly get 4 A's for this blog. All are a must to running any kind of business, certainly the mortgage business. Great post.

Jan 07, 2012 08:24 PM #1
Ambassador
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Ed Silva
RE/MAX Professionals, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

George, there is a lot of accountability on the part of a lot of people when a buyer puts their financials on the table with the idea that they can trust the bank and real estate agent to get them their house.

Jan 07, 2012 11:00 PM #2
Rainmaker
724,738
Ann Hayden
Berkshire Hathaway HomeServices Select Properties-St. Louis Missouri - Chesterfield, MO
SelectAnn.com

George,

Trust is the basis for many relationships and once lost......it is nearly impossible to regain.

Ann Hayden in Wildwood, MO

Jan 07, 2012 11:49 PM #3
Rainmaker
735,194
Debbie Walsh
Keller Williams Realty - Middletown, NY
Hudson Valley NY Real Estate 845.928.8000

Without trust I can't do business with someone.  I actually just dropped a client for that reason. 

Jan 08, 2012 02:46 PM #4
Rainmaker
1,059,531
Nick T Pappas
Assoc. Broker/Broker ABR, SFR, e-Pro, @Homes Realty Group, Huntsville AL - Huntsville, AL
Madison & Huntsville Alabama Real Estate Resource

George, sometimes it's not easy to place your trust in another person...for me it's something that is definitely proven over time.

Jan 08, 2012 07:33 PM #5
Rainmaker
13,066
Beth Bourg
Adobe EchoSign - San Francisco, CA
Adobe EchoSign

Hi George,

 

Beth Bourg from Adobe EchoSign here... thank you for entering our contest. There's so many great posts -- stay tuned for more info about choosing the contest winner. If you have any specific questions about Adobe EchoSign, please feel free to get in touch.

 

Regards,

 

Beth

Feb 02, 2012 06:46 PM #6
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages Connecticut - Middletown, CT
Your Connecticut Mortgage Expert

Beth, it was my pleasure to enter, and I look forward to finding out who won.

Feb 02, 2012 10:32 PM #7
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George Souto

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