Simplify the Process

Originators are in a position to play the part of an advisor, translator and shepherd to their applicants as they navigate the complicated origination process. If done correctly, originators have the opportunity to become trusted advisors so that borrowers will return in the future for their lending needs.

In order to demystify the process for the general public, originators should focus on the following four areas:

1. Disclosure Process: Potential borrowers facing an enormous stack of mortgage documents can feel intimidated. Originators must offer direction to their borrowers as they sort through these documents. Explaining why borrowers need to submit items such as tax returns and bank statements gives borrowers a better understanding of what the process entails and how they can expedite it.

Other items to concentrate on include discussing the terms of the loan in language free of jargon and acronyms, identifying which times need to be signed (electronically or traditionally) and alerting borrowers to specific deadlines for items such as returning signed disclosures or providing additional financials.

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