Don't Offer Promises -- Offer Guarantees

If you are a true mortgage professional who wants to attract more clients and raise your visibility by offering what your competitors do not, The Guaranteed Mortgage Quote™ system is for you.

By licensing our patented system, you are showing your borrowers that you put their interests first. And by using our licensed software to process home mortgage applications, you are creating a fail-safe environment that virtually guarantees your mortgages will close under the exact terms disclosed on the Loan Estimate -- every time.

Sure, there is some risk when you put your money on the line by issuing your borrower a rock-solid guarantee if you don't deliver. After all, you're committing to deliver what you promised or you'll write a guarantee check to your customer. But our step-by-step application software containing The Complete 1003™ reduces this risk to nearly zero, as long as you follow the software's application process.

Is The Guaranteed Mortgage Quote™ Program Right For You?

Honestly, the answer to that questions depends on you. If you fly by the seat of your pants, write financial notes on cocktail napkins, and don't ask for any more information than is on the standard 1003 mortgage form, you're probably not a good fit. That's because, at the end of the day, the underwriting department is only checking your work. If your application is inaccurate, well, you know what happens.

However, if you are dedicated, or are willing to become dedicated, to performing the most careful scrutiny of your applicant's situation before you issue the Loan Estimate, the Underwriter can become your best friend, and you'll be a hero to your customers.

There are mortgage professionals who have been in business for many years and have always delivered the mortgage terms they disclosed to their borrowers at the time of application. There are many other originators who can claim only a single failure for every several hundred or even several thousand successful closings. By offering The Guaranteed Mortgage Quote™, you are announcing to the world that you are one of these elite mortgage professionals.

But What About Situations Outside of Your Control? Don't Worry -- We've Got You Covered

Inaccurate Appraisals

We know you're not allowed to have direct contact with the appraiser, and values are coming in all over the place. In order for the guarantee to be in effect, the customer must verify and maintain all of the information on their application and credit report through the closing and rescission period.  One of the items that must be verified is their estimate of the property's value they told you when they applied for their mortgage.  If the appraiser or the underwriter does not agree with their estimate, they have not been able to verify their property's value.  Therefore no guarantee payment is due.

Changing Guidelines

We realize that guidelines change frequently, and that they may change after you've issued the Loan Estimate. No problem. The guarantee does not go into effect until the customer chooses to lock their rate.  Most funding sources will also lock in their program guidelines at this time.  What it comes down to is that you have to keep doing what you've always done to keep your promises to your customers. 

If you're a correspondent, you know which Account Executives you can trust and which ones you can't.  If you have access to the underwriting manager, you know if they'll keep their word after you send the file in.  If you're a lender and have in-house underwriting, you have your ways to get an up or down answer before you commit yourself to your customer.  Everything is transferred electronically today.  Whoever needs to look at a file can look at it before you disclose to the borrower.  It's not an easy job, but you've been doing it for years.  The Guaranteed Mortgage Quote™ gives you a way to finally get credit for being one of the best.

Fluctuating Credit Scores

We understand that the shelf life of a credit report is getting shorter and shorter.  We're heading to the point where another credit report may need to be pulled just before closing, even if the original credit report is less than 30 days old.  Remember, the customer has two obligations to uphold: Verification and Maintenance.  Maintaining their credit score through the closing and rescission period is the borrower's responsibility.  When you give The Guaranteed Mortgage Quote™ Certificate to your customer, there is a spot for you to fill in the minimum credit score required to maintain the terms you quoted them.  If their score falls below that minimum, the guarantee payment does not come into play.

Questions From a Different Prospective

I'm a mortgage professional but I am not involved with origination and underwriting.  I think I understand what you are saying, but can you show me some examples?

Certainly. Here are some examples where a consumer would receive a Guarantee Payment. These scenarios should explain everything to you, but if you still have some questions, contact us.

I'm an owner or high-level manager of a mortgage company. Can you explain some of the company-wide benefits to offering The Guaranteed Mortgage Quote™?

There are many benefits to the company as a whole. Here are the Top 5 Examples:

1. More Applications: You will experience a higher rate of converting initial customer contacts to formal applications. When your mortgage loan originators ask all of the necessary questions to qualify your borrowers, it becomes apparent to the borrower that your company is in a league of its own. And when they hear about The Guaranteed Mortgage Quote™benefits, they won't give your competitors a second thought.

2. Higher Closing Rate: More of your applications will lead to closings. That's because the software you have access to by becoming our Licensee contains The Complete 1003™^TM which practically forces your mortgage loan originators to properly qualify their applicants. It's like having an Underwriting Manager sitting right there with your mortgage loan originator every time he or she takes an application. Even the most experienced mortgage loan originator can benefit from having all of the questions they should be asking their customers, but often fail to remember to ask, written down for them in a single place. Simply put, our system helps you reduce costly mortgage loan originator mistakes to a bare minimum.

3. More Referrals: You will receive increased referral business from both customers and financial professionals. There is no better way to improve the reputation of your business than by offering The Guaranteed Mortgage Quote™. You are showing such confidence in your employees' abilities by offering this service. The trust factor will go through the roof and the referrals will follow.

4. Cost Savings: The Guaranteed Mortgage Quote™ literally forces your Mortgage Loan Originators to take better applications. Better applications means files spend less time in processing and underwriting. Each of your administrative employees can therefore handle a larger number of files.

5. Better Employee Evaluation: We all know that not every Mortgage Loan Originator comes clean with you when they make a mistake. All you really know for sure is that the loan didn't close. Customers don't always complain when their loan gets turned down even though they verified all of their application information. But when you have to pay out a Guaranteed Payment, you'll know for sure who dropped the ball. Sure, in the short run it hurts to pay, but it gives you an opportunity to identify and correct the specific mistake that your Mortgage Loan Originator made to cause the problem. And if problems keep coming up, you can take whatever action is necessary to re-train, correct or discipline the repeat offender before they cause even more damage to your business.

I'm a wholesale lender who closes and funds loans originated by mortgage brokers, or I'm a correspondent lender who buys closed loans from other lenders. What impact does The Guaranteed Mortgage Quote™ have on me?

First of all, you should see a much higher pull-through rate from mortgage loan originators offering The Guaranteed Mortgage Quote™. They are on the hook to make guaranteed payments if they make a mistake when originating a mortgage, so they will be much more careful to ensure that an applicant qualifies before getting you involved in the process. If you prefer, you can support mortgage companies offering The Guaranteed Mortgage Quote™ by offering them lower administrative or underwriting fees to acknowledge their higher loan quality. Please contact us if you would like us to notify our Licensees that you are willing to offer specific fee reductions. Doing so could drive a lot of new business your way.

I already close practically every loan on the terms I initially disclose.  Why do I need to pay for a service to tell people what I already do? 

You sound like exactly the kind of person we started this service for. Most borrowers have no idea what may happen when their application reaches Underwriting. That's why it's so important to be able to set yourself above your competitors and shine a bright light on your success rate. As a licensee of The Guaranteed Mortgage Program, we'll help you do just that. As the word spreads that only the most professional lenders get to carry our "Seal of Approval", your company won't be conspicuous in its absence from our list.

How can I see a demonstration of the software?

You can see a full demonstration of the software presented live or by remote webinar in conjunction with one of our Guaranteed Mortgage Quote™ Partners.  Some Guaranteed Mortgage Quote™ Partners may make replays of these seminars available on their web site. Contact your nearest Guaranteed Mortage Quote™ Partner to arrange a demonstration.