One of the things being reported back to me from the street is that loan quality and credit quality are improving in all markets. I’m not sure why credit quality my people are seeing is getting better, but my feelings are that between refinances and trade-up buyers, we are seeing people who are already established and been through the process before, so they already know about maintaining a good credit score and all the benefits associated with it.
We also have to notice the way business is finding us. People who can comfortably quality for a loan tend to have friends who also qualify. Those who refinance or trade up are surrounded by those who will likely want to do the same. When you add that to the improved number of referrals from banks, credit unions, financial planners, and accountants; it isn’t hard to see why this is so. Much of this also comes from attracting the very business you really want by providing an exceptional client and referral partner experience. More and more we are finding that the quality of the experience matters! People who have had a great experience tend to refer more people than those who don’t!
So make sure you keep focused on quality and allow that quality to attract the very borrowers and referral partners you really want to work with and to serve!
Questions or comments: This email address is being protected from spambots. You need JavaScript enabled to view it.