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24 Cards in this Set
- Front
- Back
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What do I write up right on my excel calculation worksheet under OCs name?
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Date the lead came in and the lead type: LRTS, Banker:Rachel, etc.
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What do I do if I find OCs have a second mortgage?
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Immediately check the list in my Products File for qualifying subordinators
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AOW Entry: Loan Detail Screen: What is the loan Purpose of a VA IRRRL?
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Streamline Refinance
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A customer has used my website to enter his application. What should he omit?
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Omit the property address so that the application doesn’t become a Real Deal.
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A customer has applied on my website. After transferring a LRTS lead into AOW, where do I find the AOW application?
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Use the dropdown, instead of using All Active, select New Leads
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A customer has done a Credit Counseling Stage application. They have to sign the credit consent when?
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Same day as credit is pulled.
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A customer has done a Credit Counseling Stage application. What happens to the credit consent form?
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Enter the CBI Reference Number, Make a copy, Fax a copy to the appropriate number, give the copy to Kim and keep one copy in the file turned upside down.
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Can OCs apply for a loan on my website?
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No. WFHM does not take Web site (Internet) applications. Web site leads are considered to be in either the Inquiry stage or the Credit Counseling stage until a complete application (Pre-approval or Real Deal) is taken for that borrower.
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Where do I find the Consent For Credit Form?
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In my Favorites, scroll down to the link for individual or joint credit.
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AHP- how long do I have to dispo a lead?
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If the lead is not dispositioned after two days, an email will be sent to you (and your Manager) reminding them to contact the customer
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AHP-What’s the app rate for WFHM leads?
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25%
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AHP-What’s good about purchase ileads?
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They may not be working with a realtor at this point.
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AHP- Credit activity trigger?
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They pulled their credit report and we think they will need a loan.
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AHP- how many apps will I get from this?
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20 or about 3 per month
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AHP- How will I know it’s an AHP lead?
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LRTS will say so.
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AHP- How many times does someone need to be contacted before something starts?
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5-6 times.
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AHP- What’s the TARGET app rate?
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10%
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AHP- What’s the App to fund rate?
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50%
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AHP-What’s the max percentage of Lm’s?
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<35%
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AHP-How many leads should I pitch to my realtors and bank partners?
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1/month to bank partners and realtors
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AHP- How should I emphasize my location here on 30th Street?
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Sell Wells Fargo Home Mortgage and specifically yourself as the local expert in their market.
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AHP- Are these cold calls?
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This is not a cold call- the customer asked to be contacted by a local representative so you must get back to them quickly.
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AHP- What if a prospective buyer isn’t ready to purchase just yet. Is it a wasted lead?
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No, send a welcome packet and my card out to these customers. I’m the local rep that looks forward to helping in your home and home-loan search. Put a reminder on outlook that has me calling in a month- “Just want to check in to seeing how you’re doing.”
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Application Process: For phone applications I’ll want them to get their last two year’s taxes. Why is this?
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So I can do the 4506T wizard.
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