Loan Officer Update
February 2007
Providing Loan Officers With Tools for LendingTree Success
 
"Some of us will do our jobs well and some will not, but we will be judged by only one thing - the result."

– Vince Lombardi (1913-1970)
Hall of Fame football coach


Lender Rankings

Below are the top ten performers by product segment for January.

    Purchase
  1. RMC Vanguard
  2. NationPoint
  3. National Bank of Kansas City
  4. Prime Lending, Inc.
  5. SurePoint Lending, LLC
  6. E-Trade Financial
  7. Concorde Acceptance
  8. Profolio Home Mortgage
  9. American Federal
  10. First Magnus Financial Corporation
    Refinance
  1. Fidelity Mortgage, Inc.
  2. HFC/Beneficial
  3. Wachovia Mortgage Corporation/World Savings, FSB
  4. Novastar Mortgage, Inc.
  5. NationStar Mortgage, LLC
  6. Full Spectrum Lending, a Division of Countrywide Home Loans
  7. The Lending Connection
  8. (tie) Best Rate Funding
    (tie) First Horizon
    (tie) Home Capital
    Home Equity
  1. Charter One Bank
  2. First Horizon
  3. Chase
  4. HFC/Beneficial
  5. Wachovia Mortgage Corporation/World Savings, FSB
  6. Capital One Home Loans LLC, formerly eSmartloan.com
  7. PNC Bank - National
  8. Citibank
  9. Nationwide Lending Corporation
  10. IndyMac Bank Home Equity

Top 10 Customer Complaints

  1. Rate/Loan Product
  2. No Contract
  3. Response - No Follow Up
  4. General Service
  5. Communication Etiquitte
  6. Closing Costs/Fees
  7. Process Expects
  8. Denied Loan
  9. Do Not Call/SPAM
  10. Fraud/Compliance
If you are aware of OR if you have reason to believe that there is irregular QF activity on the LendingTree network, please call our Tip Line at 800-475-6964. You may be eligible for a reward. (Tips can be given anonymously).

Face of Success

Kelli Fitch

I have been working with the LendingTree network since April of 2005 and it has provided a great base for my loan officer career. In that year and a half I have become one of the top producers in my company, and a repeated Gold Leaf Award recipient, thanks to the wonderful tools and knowledge base available through the LendingTree network. One of the key elements to my success is Apex. I feel task management and consistent follow up are key to being successful in this business.

I use my Apex task queue religiously and complete it every day. I feel it helps me to keep in contact with my borrowers and always follow up when I say I will. This compounded by taking copious notes, not just on the loan but on the borrower sets me apart as a professional with my client’s best interest in mind. I get a lot of business by NOT being the lender who calls diligently for the first week and then never follows up. I have closed clients a year after receiving their lead simply by staying in touch and always keeping our appointments. Frequently I will get referrals from clients I have not yet closed because they feel comfortable with me. This has allowed me to build life long relationships and true referral partners. LendingTree is a great avenue to clients and agents all over the country that I would not have access to otherwise. My consistent follow up and detail oriented nature has helped me to build a list of referral partners nationwide consisting of past clients and realtors. I have a steady stream of referrals now coming in that stem from relationships I built through the LendingTree network.

Kelli Fitch
First Houston Mortgage




Build Your Skills on the Bayou -
Loan Officer Sales Rally
March 8-10, 2007 - New Orleans, LA

Don’t miss out on this one-of-a-kind event designed especially for you – the LendingTree loan officer! Bigger and better than ever, this is your chance to join other high performing loan officers and make an investment in your future!

This year, we’re heading to the sizzling city of New Orleans where our host hotel, the Loews New Orleans, will roll out the red carpet welcome. A four-star property, this hotel surrounds you with luxury while putting you right in the middle of the action. The city’s most famous sights are just steps from the front door – the French Quarter, Bourbon Street, Jackson Square and the Riverwalk to name a few.

Of course our exciting nighttime activities will give you a taste of the city as well while allowing you to make those all important contacts. At our opening reception, mix and mingle over authentic cuisine, soulful music and the finest local street entertainers. On Friday night, step out on the town and head to Bourbon Street for a private party with LendingTree. We’ve rented out one of the hottest clubs with the largest balcony on Bourbon Street!

After a night on the town, we’ll close the event with Jeffrey Gitomer, our keynote speaker who’s sure to be a highlight. Jeffrey’s all about the sales person: he speaks your language, he understands your obstacles, and he knows how to help you sell and earn more! In addition to Jeffrey’s presentation, we’re excited to bring you the first ever consumer panel. Made up of actual LendingTree customers, get the inside track on what customers are looking for from you, their loan specialist. With plenty more sessions designed to help you close more loans, this event will help you take 2007 to a new level.

Priced right at $199 per person and $149 for Gold Leaf Seal recipients, this is the most affordable customized professional development available. Register now!


The Partner Hotline – Here to Help You Close the Deal!

Woman on the phone

To help lenders and REALTORS® partner for success, the Partner Hotline offers help with the challenges of closing purchase business.

The goal of the Partner Hotline is to assist lenders and REALTORS® with any issues that require resolution. Through LendingTree you have a touch point at any time during the process to help you move your customers to closing and total satisfaction. We assisted over 5,000 closings in 2006!

You can take advantage of this great tool by calling 1-800-DIAL-TREE (1-800-342-5873) or email at: partnerhotline@lendingtree.com Monday through Friday 9:00am to 8:00pm Eastern.


Purchase Corner - Find a REALTOR® Tips for Success

house

Use the Strategy Call to make the most of your real estate partner referral.

Imagine that you just used Find A REALTOR® and have pre-qualified the customer to $300,000 for a single family home. What now?

The Strategy Call is your next step after referring the customer to the real estate partner. This phone call with the coordinator at the real estate company allows you to determine if this customer can move forward with what they said they want. You may have a pre-qual at $300,000 but the customer needs 5% seller concession to make it work. It’s important that you discuss this scenario with the coordinator to determine if the selected agent will be able to find a home for the customer with these conditions.

If the Smith’s are looking in San Diego for a single family home at $300,000, do we have a real deal here or not? Likely not! Single family homes in the San Diego are typically around $500,000.

So, what do we do? First, discuss what areas nearby might offer homes around $300,000. And, do the Smith’s really have to have a single family home? What about a condo or duplex? Could that work for them? The whole idea and intent of the call is to decide on a strategy that will allow you to possibly re-shape the desires of the Smith’s. If they are truly motivated to purchase a home, we can make it work.

The great news is that the real estate companies that you can select with Find A REALTOR® have top notch coordinators and agents in place that are eager to work with you to make the deal work.

Close more loans in 2007 by implementing the Strategy Call with the real estate partner!

REALTOR® -- A registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics.


Gold Leaf Seal Update

Did you earn your Gold Leaf Seal in Q1 2006? If so, be sure you are on track to renew your status in Q1 2007. Complete criteria and qualifying details are available at www.lendingtreetraining.com All renewals and new certifications will be announced in Q2!


LendingTree Trivia

LendingTree’s Customer Care department was extremely busy helping to generate additional QF volume in 2006! We answered 933,000 telephone calls, 241,000 emails and participated in 137,000 live chats. All of that generated an amazing 380,566 QF’s. And 2007 is off to a record start – in the month of January alone, our Customer Care Consultants have generated a record 40,118 extra QF’s!

  LendingTree is committed to providing lenders and loan officers with the training and education tools needed to be successful! Please send your successes, comments and suggestions to loprograms@lendingtree.com.

REALTOR® -- A registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics.