refinance prospect drip - inlanta - 90 day - inlanta mortgage · inlanta mortgage, inc. - 611 n...

Caitl in ClarkInlanta Mortgage, Inc.Marketing Coordinatorcaitl [email protected]

Refinance Prospect Drip - Inlanta - 90 DayProspects CampaignHandbook Created: March 2, 2016

13 Events Timeline

Type Event Name Addressed To Timing Year

1 Phone Call Introductory Phone Call 1 Days Out

2 Email Thanks for Your Time Email Primary and Secondary Contact 2 Days Out

3 Email Getting to Know You Survey - Refi Version Primary and Secondary Contact 4 Days Out

4 Email Riddle 1 - Quick Credit Catastrophe Primary and Secondary Contact 11 Days Out

5 Phone Call Checking In - Phone Call 17 Days Out

6 Email One Question To Ask Before Refinancing Primary and Secondary Contact 27 Days Out

7 Email To Lock or Not To Lock? Primary and Secondary Contact 36 Days Out

8 Email Checking In - Two Sentences Primary and Secondary Contact 46 Days Out

9 Email There are no such things as Bigfoot, the Tooth Fairy or 2% 30-year Fixed Rates. Primary and Secondary Contact 55 Days Out

10 Email TVM - What does this stand for and how does it impact you? Primary and Secondary Contact 65 Days Out

11 Phone Call Checking In - Phone Call 75 Days Out

12 Email Riddle - Case of Unintended Consquences Primary and Secondary Contact 84 Days Out

13 Todo Task Your Task - Disposition Client - Next Steps 90 Days Out

Inlanta Mortgage, Inc.Refinance Prospect Drip - Inlanta - 90 Day - Prospects Campaign

Hi Elizabeth, I just wanted to thank you in advance for your time, consideration, and for allowing me the opportunity to earn your business. I'm looking forward to continuing our dialogue, Elizabeth. In the meantime, please don't hesitate to contact me by phone or email if I can beof service. Oh, by the way, a few days from now I’m going to email over a very brief survey. It will take less than a minute to fill it out and I’d be grateful ifyou’d please be on the lookout for it. Thanks again!

Sincerely,

Caitlin ClarkInlanta Mortgage, Inc.Marketing Coordinator-NMLS #1016(262) [email protected]

Inlanta Mortgage, Inc. NMLS# 1016. Programs subject to change. This is not an offer of credit or a commitment to lend. Loans are subject tocredit approval. Not all loan programs are available in every state. Cash reserves may be required for some loans.

This email was sent as part of my effort to maintain our relationship and keep you well informed of market conditions. It could be interpreted as a commercial message. If you would like to stop receiving these emails, you may click hereto unsubscribe at any time.Inlanta Mortgage, Inc. - 611 N Barker Road Suite 200, Brookfield, WI 53045

Refinance Prospect Drip - Inlanta - 90 Day - Prospects CampaignThanks for Your Time Email - Primary and Secondary Contact - 2 Days Out

Inlanta Mortgage, Inc.

mailto:[email protected]

http://www.inlanta.com

http://www.easyemailoptout.com/[email protected]&[email protected]

Hi Elizabeth, As we begin working together, I'd like to learn a little bit more about what is important to you.In that spirit, would you please spend a few moments filling out the online survey below. Thanks in advance Elizabeth and have a great day.

[$SURVEY: Getting To Know You{261}$]

Sincerely,




Refinance Prospect Drip - Inlanta - 90 Day - Prospects CampaignGetting to Know You Survey - Refi Version - Primary and Secondary Contact - 4 Days Out





Hi Elizabeth, Today, I’d like to help you avoid a hidden pitfall many consumers fall into. As we prepare for your transaction, it's critical to make sure you're keeping your credit score as high as possible. You already know this. Once in a while, however, I'll have a client get caught up in all the excitement and make some choices that later come back to haunt them.Yes, that’s right. It’s time to solve a real-life mystery, Elizabeth:

[$SURVEY: Can You Solve the Case of the Quick Credit Catastrophe?{230}$] Elizabeth, please know that it's my sincere pleasure to provide you with this high level of service. I hope you enjoy these fun little mysteries andare put the lessons they teach into play! Okay, so hopefully you solved the mystery with flying colors. Now let’s examine why Angelina’s purchase was such a big no-no. a) Angelina really could have waited until after closing to make the purchase. So - as a rule of thumb - I always tell my clients “better safe thansorry”. Please be very conservative with your spending between now and closing day. b) Brad and Angelina had been saving for quite a while - and hopefully you have too! Inevitably, many borrowers get ahead of themselves andmake hasty decisions with the money they're about to save. Some projects will add value (such as new furniture). Other projects will fix

Refinance Prospect Drip - Inlanta - 90 Day - Prospects CampaignRiddle 1 - Quick Credit Catastrophe - Primary and Secondary Contact - 11 Days Out


problems (such as the leaky faucet). Both require a home ownership budget. c) Here’s the biggest mistake Angelina made - opening a new credit account just weeks before closing. Lenders generally don’t like seeing newaccounts opened - especially “buy here, pay here” types of credit accounts. Little did she know, but Angelina’s purchase likely dropped hercredit score. And in some cases, I’ve seen people who make this common mistake drop their credit score far enough to kill the dealcompletely. So Elizabeth, most of what I’m communicating here you likely already knew. But please - do be careful. If you are ever unsure as to whether anactivity could have negative impact, don’t hesitate to call or email me anytime.

Sincerely,







Hi Elizabeth, Realistically speaking - how long do you plan on living in the home you’re looking to refinance? More times than not, my clients tell me they’re planning on living in their home forever. However, according to the National Association ofRealtors, the typical family’s home needs change approximately every six to nine years. This statistic might surprise you - it certainly surprisedme the first time I heard it! But it brings to light a highly critical point: If you are reasonably certain you’ll be in your home less than 10 years, we ought to look at a wider range of mortgage program options. Forexample, we may want to compare the costs between a 10-year adjustable rate mortgage and the tried-and-true 30-year fixed mortgage. Of course, this analysis requires us to balance risk with reward - and turn over a few extra stones. But if you’d do both of us a big favor,Elizabeth, I’d like to ask that you give this question considerable thought as we continue down the path of your mortgage refinancetogether. As always, thanks for the opportunity to serve you. Please don’t hesitate to reply to this email if you have any questions or if I can be of anyhelp!

Sincerely,




Refinance Prospect Drip - Inlanta - 90 Day - Prospects CampaignOne Question To Ask Before Refinancing - Primary and Secondary Contact - 27 Days Out


http://economistsoutlook.blogs.realtor.org/2012/01/25/tenure-in-the-home-and-motivation-for-selling/




Hi Elizabeth, When refinancing, one of the decisions we will make together is when to "lock" your loan. What does a "rate lock" mean? When we lock your loan, we are asking the lender to set aside the necessary funds and "lock" loan terms and interest rate. In essence, think ofa lock as your "RSVP". The lender is setting aside the necessary funds for your transaction and they are assuming the risk of rates rising duringthe lock period. What is important to know about locking your rate? The moment we lock your loan together is the moment the clock officially begins ticking. Most rate locks come with 30, 45, 60 or 90 dayterms. The shorter the period you ask the lender to lock your rate, the more beneficial to you in terms of overall cost. Why and how does the length of a rate lock affect my refinance cost? In mortgage lending, most every cost factor comes down to one variable - risk. You will generally find that the more risk a borrower is willingto assume, the better rates and terms a lender is willing to offer. Conversely, when a lender assumes more risk they tend to counter that riskwith higher costs. In this particular case, the longer we ask a lender to guarantee an interest rate the larger a buffer they will require to offsetthat risk. What is the smartest path for you - my client? The ideal scenario for us is to have as many of our ducks in a row as possible - right now. You see, if we have your loan file "pre-processed"this will help the underwriter expedite your file through the process. The faster and smoother the process, the shorter "loan lock" period wecan get away with - and the more money you will save overall. In this same spirit, when and if the underwriter requires additionaldocumentation at some point during the process - please jump on these requests immediately. What happens if I commit to locking my loan and we do not close in that time period? Sometimes, conditions arise that delay the process and loan locks "expire" before we can close the transaction. In this case, the lender willtypically grant an extension on the lock period - but at an additional cost. An expiring loan lock does not typically jeopardize the overalllikelihood of the loan closing. Thanks for reading this email, Elizabeth. I always say that "an educated consumer is an empowered borrower" and I am going to keep theinformation coming your way. If I can be of any service any time, please do not hesitate to call or email me anytime.

Sincerely,


Refinance Prospect Drip - Inlanta - 90 Day - Prospects CampaignTo Lock or Not To Lock? - Primary and Secondary Contact - 36 Days Out




Hi Elizabeth, I hope you are doing well.Is there anything I can do to help you today?

Sincerely,




Refinance Prospect Drip - Inlanta - 90 Day - Prospects CampaignChecking In - Two Sentences - Primary and Secondary Contact - 46 Days Out





Hi Elizabeth, So you’re reading the daily news online and notice an advertisement promoting crazy-low interest rates. Such low rates! In fact, they’reblowing my rates out of the water. How does this happen? I’ll get to that part. But what you really need to know is there is no such thing as a 2% 30-year fixed mortgage. Be very careful when shoppingmortgage rates online and take everything you read with a grain of salt. What does that 2% interest rate really mean? Is this false advertising? The 2% interest rate might actually exist. But here’s the “catch” you won’t find with some of these internet lenders until it’s often too late – theloan product being promoted is for an extremely short term … usually less than 12 months (and sometimes as short as 30 days!). The 2% ratewill jump dramatically and suddenly once that initial “teaser” period ends. If it sounds too good to be true – especially in the world ofmortgage finance – it usually is too good to be true. Is this false advertising? Personally, I find this type of “bait and switch” to be misleadingand unethical – and that’s why you’ll always hear me quoting you a fair rate without the fine print. Would you like to learn more about what goes into your mortgage rate and closing costs? That’s why I am here, Elizabeth. Please don’thesitate to reply to this email or call me anytime.

Sincerely,




Refinance Prospect Drip - Inlanta - 90 Day - Prospects CampaignThere are no such things as Bigfoot, the Tooth Fairy or 2% 30-year Fixed Rates. - Primary and Secondary Contact - 55 Days Out





Hi Elizabeth, There are no shortages of acronyms in the mortgage industry. However, today I’ve borrowed a powerful one from the world of finance theory. TVM = Time Value of Money TVM is complex to solve for but relatively straightforward to understand. It behooves us to apply TVM theory in determining whether or not to“buy down” your interest rate. The Lowest Interest Rate is Not Always the Correct Loan Isn’t the mortgage with the lowest long-term interest rate always the right choice? Absolutely not. You see, when refinancing it’s typically bestpractice to build up-front closing costs into the loan amount itself. I’ll use a fictitious example to illustrate: Assuming a $200,000 loan amount with $5,000 in closing costs, the borrower is faced with 3 typical decisions:

1) Finance $200,000 and pay the $5,000 out-of-pocket at closing2) Finance $205,000 and roll the $5,000 closing costs into the loan amount3) A solution somewhere in between #1 and #2

So, which choice is correct for you? Quite frankly, the answer is “it depends”. I’ll cover the first two options using TVM theory. Option 1: Pay closing costs up front thus reducing the loan amount, APR and monthly payment. I’d characterize this as the “highlyconservative approach”. In other words, borrowers choosing this option should answer “yes” to all three of the following questions:

1) Do you have ample liquid cash reserves for use as emergency funds?2) Will your mortgage interest rate exceed the expected return of your investment portfolio? In other words – a “yes” answer here assumesyou could not achieve elsewhere a comparable rate of return to your mortgage interest rate.3) Are you highly confident you’ll live in your home well after the “breakeven point” (explained further below)?

Option 2: Roll the $5,000 closing cost into the loan. This is the approach I typically recommend. Here’s why:

1) I typically advocate for having as much money in “liquid” form as possible. In our example scenario, the borrower often will benefitfrom having quick access to $5,000 in case of an unforeseen opportunity or emergency.2) Return on investment (ROI). Mortgage funding is often one of the least expensive forms of borrowing. Our concept here, using TVMtheory, is to determine if $5,000 in closing costs could yield a better ROI if invested elsewhere. Your financial and/or tax advisor might beable to help you determine how closing costs could be invested elsewhere. If you do not currently work with a financial advisor, andwould like me to refer someone, please let me know.

Let’s determine your “breakeven point” together. This is a very brief analysis we can conduct in approximately ten minutes. Our goal will be to determine a point in time when your refinance“pays you back” and ultimately yields you a profit. The decision regarding closing costs factors into your breakeven point – so let’s dive insometime soon, Elizabeth. Thanks for allowing me the opportunity to earn your business. I’m here anytime to help guide you through the process.

Refinance Prospect Drip - Inlanta - 90 Day - Prospects CampaignTVM - What does this stand for and how does it impact you? - Primary and Secondary Contact - 65 Days Out


Sincerely,







Hi Elizabeth, Today’s lesson is about unintended consequences - and the importance of having an experienced and knowledgeable mortgage professionalby your side as you navigate through what can sometimes be a confusing process. Most of my fun little riddles thus far have thrown twists and turns at you. Because it’s true - many of the rules of credit are counter-intuitive.And sometimes, even actions with the very best of intentions can result in unintended consequences.

[$SURVEY: Can You Spot the Mistake This Consumer Made?{227}$] Elizabeth, please know that it's my sincere pleasure to provide you with this high level of service. I hope you're seeing a lot of value thus farand look forward to connecting again soon.

Sincerely,




Refinance Prospect Drip - Inlanta - 90 Day - Prospects CampaignRiddle - Case of Unintended Consquences - Primary and Secondary Contact - 84 Days Out





refinance prospect drip - inlanta - 90 day - inlanta mortgage · inlanta mortgage, inc. - 611 n...

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