I had a situation that happened with a fellow loan officer. I closed on a real estate transaction with private money. I asked my investor to use my Network to do his rate and term refinance. Well, he declined and went out of Network. The other loan officer keep giving him excuses over two months on why he could not get the loan done. I followed this transaction each week. I called my investor friend to see if he wanted to come back into the Network. He said just close the deal because he was paying a $50 per day diem along with an angry wife. Well, my loan officer submitted it to the same institution. He charged my client a 2% loan origination fee that was disclosed at the beginning. Now, he wants him to lower it to a 1% origination fee. He delivered what he promised-CLOSE THE DEAL AT ALL COSTS.
What would you suggest to your investor client? I need to have an answer by noon today.
Make the Call, Set the Plan, Do the Deal$!
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