Loan Officer Sales Training 04/18/24: How to Use Texts Effectively as Loan Officers

Welcome to "Mastering Text Communication for Loan Officers," a pivotal addition to our Loan Officer Sales Training series. In today's digital age, text messaging has become a fundamental tool for loan officers to communicate with clients efficiently and effectively. This podcast is your guide to leveraging text communication to enhance client relationships and streamline the loan process.

Join us as we explore the dos and don'ts of texting in the lending industry. From initial outreach to ongoing updates and follow-ups, we'll uncover strategies for crafting impactful messages that engage clients and drive results. Our seasoned hosts will share their expertise, offering insights into tone, timing, and content to ensure your texts resonate with clients and foster trust.

Throughout each episode, we'll dissect real-life text exchanges, highlighting best practices and common pitfalls to avoid. Whether you're reaching out to prospects, providing status updates, or addressing concerns, this podcast equips you with the skills to navigate text communication with finesse and professionalism.

Don't miss out on the opportunity to harness the power of text messaging to strengthen client connections, increase responsiveness, and ultimately, close more deals. Tune in to "Mastering Text Communication for Loan Officers" and take your text game to the next level.

For more episodes visit:
https://themortgagecalculator.com/Page/Loan-Officer-Sales-Training-Podcast

About The Mortgage Calculator:

The Mortgage Calculator is a licensed Mortgage Lender (NMLS #2377459) that specializes in using technology to enable borrowers to access Conventional, FHA, VA, and USDA Programs, as well as over 5,000 Non-QM mortgage loan programs using alternative income documentation! 

Using The Mortgage Calculator proprietary technology, borrowers can instantly price and quote thousands of mortgage loan programs in just a few clicks. The Mortgage Calculator technology also enables borrowers to instantly complete a full loan application and upload documents to our AI powered software to get qualified in just minutes!

Our team of over 350 licensed Mortgage Loan Originators can assist our customers with Conventional, FHA, VA and USDA mortgages as well as access thousands of mortgage programs using Alternative Income Documentation such

The Mortgage Calculator is a licensed Mortgage Lender (NMLS #2377459) that specializes in using technology to enable borrowers to access Conventional, FHA, VA, and USDA Programs, as well as thousands of Non-QM mortgage loan program variations using alternative income documentation!

Using The Mortgage Calculator proprietary technology, borrowers can instantly price and quote thousands of mortgage loan programs in just a few clicks. The Mortgage Calculator technology also enables borrowers to instantly complete a full loan application and upload documents to our AI powered software to get qualified in just minutes!

Our team of licensed Mortgage Loan Originators can assist our customers with Conventional, FHA, VA and USDA mortgages as well as access thousands of mortgage programs using Alternative Income Documentation such as
effectively.
Last week, we had a training onemails and how to use emails

(00:23):
effectively.
And we'll be talking about howto use text message effectively
today.
So let me go ahead and getstarted.
Get it started.
So remember, just like we talkedabout with emails, the texts are
to be used in conjunction withcalls.

(00:44):
It seems like a no brainer, butlet me tell you, this is one of
the biggest points here of mytraining today.
You never just text someone,right?
Never just text them.
We always call them first.
Remember the policy here, calleveryone within the first minute
always.
Now, if they don't answer,that's when we'd send them a

(01:06):
text and you know, and an email,right?
Or we press the button in theCRM to send the text and the
email automatically.
But it's very important.
Nowadays, a lot of people liketexting, obviously, and we get a
lot of responses via text, butit's so important to do the
whole thing, right?
You have to call first, then youtext and you email so that they

(01:28):
see that this is a real person.
Right.
This is an actual person.
They did call me.
It wasn't a robo call cause thenthey texted me afterwards.
They emailed me, you know,they're obviously a real person
that's trying to get a hold ofme.
So very important.

(01:49):
The other important part aboutusing it in conjunction with
calls is that a lot of.
Newer aged loan officers, right?
The younger generation, we don'tlike to talk on the phone as
much and we're much morecomfortable with texting.
So I see a lot of younger loanofficers in particular, trying
to just kind of get out of thecall and just trying to text

(02:10):
them and see if they'll answerthe text and that they don't
have to get on the phone, butthat's not what we do.
Right.
We are a on the phone business.
We're on the phone company.
We always call them.
Immediately.
If they don't answer, then we'lltext.
Now, here's where this runs intohere is matching the client's

(02:32):
preferred communication.
So if they don't answer, but youtext them and they answer the
text, then great.
Keep communicating with them ontext, right?
Don't call them.
They don't answer.
And then you text them.
They do answer the text.
So you call them right away,right?
They obviously are showing thatthey're preferring you.
To communicate through text.
So only communicating throughtext is perfectly fine, but

(02:53):
that's going to be for theclient to decide once we do get
a hold of them, right?
But we're going to call themfirst.
Always.
That's always the first thing wedo.
Instantly call them within the1st 2nd that we get the lead.
We're on the phone with them.
Then if they don't answer, westart texting.
And again, a lot of clientsnowadays prefer to only text,

(03:14):
which is great.
That's usually easier foreverybody, right?
And you only get on a call ifit's really something you need
to work out.
But again, that's going to befor the client to decide.
Now, when it comes to textmessages, what's great about
text messages is that the Kindof the culture built around text

(03:35):
messages allows you to be prettycasual now in this business.
There's this fine line of beingcasual and building rapport and
being, you know, quote unquote,like cool with people, right.
And not seeming like a, Supersquare suit in an office, you
know that's one of the beautifulthings about us as independent
loan officers.

(03:55):
Right?
You know, we, we are a realperson that they're actually
talking to and they have ourcell phone number instead of an
office number extension.
Right?
So there's a big part of what wedo is that.
And so notice the last bulletpoint here, it provide texting
provides a chance to showpersonality.
It looks like my video iscutting that one off, but
provides a chance to showpersonality because you can be

(04:17):
somewhat casual.
So we, it's this fine line.
We want to walk, right?
We don't want to be too casualto where it's unprofessional,
but we want to be casual enoughthat, you know, we're a real
person texting back and forthwith them.
We're not some.
You know, cog in a corporatewheel where they can't even get
a hold of you and they have tocall a number and then press an
extension.
And there's no way they couldtext you or even if they could,

(04:40):
it would be all super shortprofessional responses only.
Right?
So there's a line to walk, butwe can walk that line and we can
be a little bit more casual whenwe're texting way more casual,
obviously, than like emails.
Right?
So text does.
Provide this opportunity to kindof build more rapport than
usual.
You know, just make sure to stayprofessional, but you can, you

(05:02):
know be a little less formal, Iguess would be the word, right?
So we want to we don't have tobe so formal when we're texting,
but we want to remainprofessional.
So remain professional.
But you can loosen up on theformality a little bit and text
a little bit more casually.
And what it does is it reallybrings out that, that

(05:24):
comfortable feeling, right?
If a client feels like they cantext their loan officer.
And they're talking about thingsor, you know, LOL this or
whatever.
I mean, it, it really makespeople feel comfortable because
that's what we're used to in oureveryday life.
Right.
Anybody that is in our everydaylife, most of us nowadays, you

(05:44):
know, we're always texting withthem and we're sending back
emojis or LOL or whatever it is.
And so.
When, you know, and it's easy toreach out via text, right?
You feel comfortable doing it.
So if you, if your client feelscomfortable reaching you out,
reaching out to you via text andhaving good conversations back
and forth, that's a great thing,right?

(06:05):
And so that's a good place to bein with your clients of them.
Like, Oh, let me text my loanofficer and ask this or
whatever, or, You know, I mean,if a client's like texting you
funny things or something likethat, I mean, then you really
made it right.
Then that's awesome.
They feel really comfortablewith you and texting you.
And you've obviously built thatgreat rapport.
So let's talk about follow uptext messages, right?

(06:27):
Well, follow up texts are sentwith a purpose, just like the
follow up emails, just like thefollow up calls.
We want to always try to have apurpose and a reason to follow
up with a text.
Now, if we don't, that's fine.
We can send a general follow up,but we always want to look.
For a specific reason to followup.
And remember, we're never goingto send just a bunch of mass

(06:47):
messages, just copy and pastingsomething and sending it to a
bunch of people.
Again, we want to look at eachindividual situation.
Is there a reason I could followup?
What could I follow up withabout you know, et cetera, et
cetera, and make sure they'resent at the appropriate times,
right?
So if you try to send messagesoutside of the hours, then the
system will hold it.

(07:09):
But just in general.
You know, there's things like,for example if, you know, a
client has a California phonenumber and it's, you know, 7 p.
m.
in California.
And you send them the text, butyou already knew that they live
in Florida now and notCalifornia.
Well, now you're sending them atext at 10 PM Florida time,

(07:32):
right?
And so just be careful becausethe system isn't foolproof.
You know, it's only goes by, youknow, their number and stuff.
And so at the end of the day,you're the one that knows when
the appropriate time would be totext the client, not too early,
not too late, not while they'reTold you that they're away on
vacation for the weekend orwhatever it may be.

(07:54):
And then here's a one to onlyfollow up once in a day, right?
Do not be I don't know what theword for it would be thirsty, I
guess, for deals, right?
To where you're following upwith people more than once in a
day, a phone call, a text and anemail is just fine, right?
More than that in the same dayis too much.

(08:16):
Now.
We never stop following up witha lead in general, right?
Like we have multiple trainingscalled a lead is forever.
You know, we always keepfollowing up with leads, but we
don't do it multiple times in aday.
Right?
So that also is what allows usto keep doing it because we're
tasteful and respectful in howwe follow up with people.

(08:36):
We're just going to keep ontrucking and keep on going
forever, but we're not going todo it any type of distasteful
way.
Oh, whoops.
There we go.
Okay.
So remember all leads should beon action plans, unless you're
currently engaging with them andsending them quotes or whatever

(08:57):
it is, right?
So basically anything thatdoesn't have a reason to not be
needs to be on an action planbecause the system will send
them text messages.
On your behalf.
Now this is, goes the same whenwe talked about the email
training, be mindful when you'resending texts to people.
Or sending any communication andmake sure you look at everything

(09:17):
that's been going on with thatclient.
Right.
Because you know, before youjust start jumping in there,
remember the system does thingson your behalf, whether you have
them on an action plan, or maybeyou're working with them on a
file then the system's going toautomatically follow up and ask
them for documents when they'remissing documents and things
like that.
So the beautiful part about oursystem is that it does all kinds

(09:40):
of stuff for you.
But the other side to that coinis that you have to be very
careful because you're not theonly one talking to your client.
The system is too, right?
So whether the system is sendingsomething from a drip campaign
or action plan that you had set,or if it's sending something
that's just an automatedreminder for something.

(10:01):
There could be many differentreasons why, or even a loan
officer assistant on that filealso has the means to contact
the client and it will betracked right there in the CRM.
So there's multiple ways andreasons why someone else or
something else may becommunicating with the client.
And so before we just jump inthere and start throwing things

(10:24):
out, we need to always glance atthat communication.
That's why we have it all rightthere.
In the CRM and a nicechronological timeline there for
you.
So you can see, okay, maybe Idon't need to send them a
reminder today to upload theirdocuments because the system
just sent one at 10 AM.
Right?
So maybe, maybe the system sentthe email and then maybe you

(10:44):
should send a text to let themknow that the system sent an
email, but there's no need tosend another email, right?
So look at all thecommunication.
You don't know whether thesystem did something or loan
officer assistant did somethingor whatever it may be.
And so we always want to makesure that we, like, know what's
going on.
It looks really bad when youstart sending clients you know,
things that are duplicated orthings where systems send

(11:07):
something and you send somethingelse.
It just doesn't look organized.
And then on that same note here.
Take off an action plan whenthey respond.
Our system does notautomatically take them off of
an action plan.
Once they respond,unfortunately, we can't do that.
I wish we could, but we can't.
And so just make sure that youdo right.

(11:27):
When somebody responds to youraction plan, If you're
communicating and working withsomeone, they shouldn't be on an
action plan, right?
We say all leads should be on anaction plan, meaning like leads,
not clients, right?
So like I said, unless they arecurrently working with you,
you're actually doing things,you're quoting them, you're
working on loans, then you don'twant them on an action plan
because it's going to startrandomly emailing and texting

(11:49):
them things, right?
Like, like as if you weren'talready working with them.
So make sure everybody thatshould be is on an action plan
and then make sure when theyrespond to take them off or.
It's going to look bad becauseyou're going to be sitting there
working with your client.
And then all of a sudden, threedays later, they're going to get
an email saying, Hey, were youstill looking to do something?
Cause the system's sending themthat automated action plan

(12:12):
email.
Right.
And so that's what you don'twant to happen because again,
it's going to look bad.
It looks unorganized and moreimportantly, it's confusing.
To the client and you know, theydon't know what to do or what to
make of it.
So we want to make sure that wetake everybody off action plans
once they respond.

(12:34):
And that is it here for today.
Wanted to keep it short andsweet.
But again, make sure you'redoing the calls.
Texting is not an excuse to notmake calls.
It's the biggest thing here.
I see newer loan officers.
I know younger generation.
We don't like to.
Talk on the phone much.
We like to text more, but this,this business requires that.
So don't ever think the textsare a replacement for the calls.

(12:59):
Make sure you match theircommunication method.
If they keep wanting to talk onthe phone, then you keep talking
on the phone.
They want to keep texting.
Then you keep texting, right?
We're going to do.
Whatever works best for them.
It's not what we want to do mostor what works best for us most.
It's about what works best forthe client and take advantage of
the opportunity to be a littlebit more casual and build some

(13:20):
better rapport, but just makesure to remain professional at
all time.
All right.
Let's see if we have anyquestions here.
Let's see here.
Jackie's asking, is only textingemail okay if a client continues

(13:41):
to hang up?
Well, if they hang up like on,on accident or something, then
yeah, but if they hang upbecause they don't want to talk
and they don't want you to callthem or want the information
you're trying to give them, thenyou would just click phone
unsubscribe, right.
And move on.
So I'm not sure if that's whatyou meant, but Yeah, I mean, you

(14:01):
know, if the calls aren'tworking, calls drop, whatever,
then, you know, absolutely textthem.
Hey, it looks like we gotdisconnected, you know, whatever
the case may be, but yeah, ifthey're like, Oh, no, or
whatever, just immediately hangup after you say, Hey, I'm
calling about the mortgage yourequested or whatever, and they
just hang up on you.
Then obviously we're not keeptrying to pursue them.

(14:25):
All right.
I think we can go ahead and wrapit up then.
I appreciate everybody tuningin.
Remember we do this at 12 p.
m.
Eastern time every weekday wherewe go through the front end of
the mortgage business.
So we'll be back tomorrow with anew topic.
Thank you everybody for tuningin.
We'll see you tomorrow 12 p.
m.
Eastern for the next episode ofthe Loan Officer Sales Training
with the Mortgage Company.