Three Things UMortgage Loan Originators Learned in Refinance Training

In mid-October, more than 100 UMortgage Loan Originators and team members attended an exclusive two-day refinance training session. This extended seminar helped attendees streamline their refi approach to help more homebuyers access life-changing savings or cash out their equity with a refinance

The session offered a 3-stage approach to refinances: becoming a more reliable partner, understanding why their clients want to or should refinance, and utilizing various tools to transmit the value of a refinance to the homeowners they work with.

Below, we’ll dive into these 3 stages and outline how they positively benefit homeowners nationwide as they consider their refinance.

Understand the “Why” for Every Refi Client

Before a UMortgage LO starts a client’s refi process, they are taught to first learn why a client wants to refinance or why they might benefit from one. At UMortgage, everything we do centers around giving clients a platform that allows them to achieve financial freedom through homeownership.

There are plenty of reasons why someone could benefit from a refinance. You have your most common surface-level reasons such as accessing a lower monthly mortgage payment by refinancing to a lower mortgage rate or tapping into equity earned by paying their mortgage over time. However, to truly identify whether an opportunity is appropriate is to dig deeper and understand why a client wants to refinance.

Take it from Jimmy Hobson, National Sales Leader, who used a simple rate & term VA Interest Rate Reduction Refinance (IRRRL) to help a client recoup the thousands of dollars they paid for an HVAC repair all while locking them into a slightly lower monthly mortgage payment. In the video below, he shared how he identified this solution and why that personal connection with his client opened the door for this opportunity.

Identifying a refi client’s ‘why’ is an essential first step that can only be achieved by building genuine relationships on a foundation of trust with those clients. UMortgage LOs are trained to be the difference-makers in these situations through the strong relationships they’ve developed with their clients.

Be a Reliable Partner

Understanding a client’s ‘why’ is an essential first step to identifying whether a refinance is right for them. The next step is to be in constant contact with those clients to ensure that all parties are ready to act when the time is right.

After closing on your mortgage, you might start receiving a flood of unsolicited calls, mail, or emails from banks and financial institutions offering a refinance. While some of these offers may seem appealing, they are often misleading, pushing you into loans that aren’t in your best interest.

This is why working with a local mortgage broker you trust is so important. UMortgage focuses on helping you achieve long-term financial success, not just securing a mortgage. To protect their clients from these sorts of predatory lending practices, UMortgage LOs are trained to stay top-of-mind with these borrowers to ensure that they know their options when opportunities present themselves.

“You can only provide your clients with the financial advice that they need if you’ve put in the work to build a relationship and identify the personal aspects that drive their financial needs,” said Todd Bitter, Sales Director of UMortgage+. “You don’t know what’s happened in their lives since you did that last loan unless you have those conversations, and that’s why it’s so important to prioritize your client relationships after you’ve helped them close their loan.”

By providing personalized advice based on your unique situation, we ensure you’re equipped with the right tools and knowledge to make the best decisions for your future—without falling prey to one-size-fits-all offers from impersonal lenders.

Utilize UMortgage’s Tools to Transmit Value to Your Clients

The final piece that UMortgage LOs were taught during their two-day Refinance Training was to utilize the tools at their disposal to transmit value directly to the clients they work with.

UMortgage LOs are equipped with an expansive portfolio of lenders and loan products that enable them to customize mortgages to fit each borrower’s unique financial goals. Beyond these loan products, they also offer their clients a wide range of educational resources to empower homebuyers and homeowners with the necessary knowledge of the refinance process, the options available to them, and the ability to see for themselves what savings could be available with a refi.

UMortgage’s Refinance Calculator is a perfect example of the ways that UMortgage LOs can transmit value directly to the clients they serve. This tool takes basic information, such as a client’s loan amount, loan term, interest rate, and year they closed to provide a snapshot of their monthly savings, total savings, and potential cash-out amounts.

When homeowners work with a UMortgage Loan Originator for their refinance, they get much more than the most affordable mortgage possible. They gain a professional mortgage advisor for life who will guide them through every stage of homeownership and ensure that they stay ahead of economic trends to continuously keep more money in their clients’ pockets.

If you want to get connected with an experienced UMortgage LO in your community, follow this link and fill out the form to ensure you maximize the benefits of homeownership.