Friday August 25, 2017 by The Mettle Group
You know, the best thing about the Fairway Scorecard is that it does not lie. It does not care about what you accomplished last month, how good you think you are, or your ego… It tells you the truth, the whole truth and nothing but the truth.
June was a landmark month for our team as we broke our all time production record and we were the fourth highest producing branch in all of Fairway with 141 families served. Truly an honor to have helped each of these clients into their homes (especially in this tough market, many clients fighting to find a home for 6 to 12 months before they were successful enough to get one).
We also broke our all time single loan speed record. Paul M. went from sending us his purchase agreement to clear to close in 4.29 days. Being able to close a loan faster than the law allows is pretty cool (there is a mandatory 7 day waiting period from initial disclosure by law) and it sure makes everyone feel more comfortable when the closing documents and wire are sitting at the title company waiting for the legal wait period to expire. We cleared to close 10 loans in 10 days or less, which is a hoot because we know we have far exceeded these clients’ expectations and created a remarkable experience each of them (our #1 goal).
So we have a lot to be proud of, high fives all around, we’ve officially made it! Oh yeah, except for the Scorecard…
It’s important because these families are living in boxes at this point in the transaction. If we are still clearing their loan and asking for additional items, it has a negative impact on the client’s experience. Boxing up one’s home to move should be a celebration, children running around with excitement, bad Chinese food, laughter, and fun. All possible if the closing documents for their new home are already at closing and awaiting their arrival for signatures. Impossible if in the back of the client’s mind is “are we going to get this loan?” Nothing impacts the client experience more than having a clear to close loan and closing documents out 3 days early. That is our #1 metric to create a remarkable client experience.
These two metrics are obviously tied together, had we cleared to close in 15.87 days, we would have had our 72 hours clear to close before closing on a lot more loans. This is the exact point of focus for our team going forward.
Yep, plenty of room for improvement and it starts with me.
We’ve committed to step up our game. We’ve re-created our perfect loan process both for origination and operations; we are rebuilding our checklists and doing a manual spot-check review of loans before they go into processing. We are tightening our bootstraps and marching on.
If it were easy and we won all the time – it would not be fun. Game on.
Josh Mettle is an industry leading author and mortgage lender, specializing in financing physicians, dentists, CRNAs, and physician assistants. You can enjoy great physician real estate and mortgage advice here or by visiting his book site. Josh is also a fourth generation real estate investor, and owns a number of rental homes, apartment units and mortgages. Josh is dedicated to helping physicians become more financially aware and able; listen to “Physician Financial Success” podcast episodes or download Josh’s latest tips and advice here.
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