2018- A New Year

With interest rates rising in the first quarter of 2018, it is more important than ever that we are communicating with our current customers. The benefits of refinancing have drastically changed in this new environment. Over the past few months, I’ve been meeting daily with the sales professionals in our call centers throughout the company. I am getting the same feedback from one location to the next. From the conversations I’ve had, the customers we are helping refinance are people in need of bill consolidation, home improvements or other areas of cash out needs. Some of the customers we are working with are also benefitting from the removal of monthly mortgage insurance and/or term reduction loans.

From what we are seeing internally, it is unlikely a customer will benefit from lowering their interest rate. Because of this, it is crucial to have qualified sales professionals who understand the complexity of a true benefits analysis assessment for each potential loan.

I am excited to start connecting with customers in this new market to ensure our sales professionals are matching the perfect customer to the perfect loan that benefits them. Over the past several years, there has been a surplus of refinance activity due to lower interest rates, that has allowed leadership teams to be less involved with their current customers due to excess in the industry. With Consumer Connect, it enables our leadership teams to stay engaged with their customers. I have the confidence that this will allow us to stay uniquely positioned in what appears to be a much more challenging market ahead.

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