Loan Officer Update
May 2005
 
"If opportunity doesn't knock, build a door. "

–Milton Berle (1908-2002)
American Comedian & Actor
 

2nd Annual LendingTree Loan Officer Sales Rally - Recognizing Excellence

Over 250 LendingTree Network loan officers attended the 2nd LendingTree Loan Officer Sales Rally in April at the MGM Grand Hotel & Casino in Las Vegas.

One of the highlights of the event was recognizing the loan officers who had exhibited exceptional performance on the LendingTree Network in 2004. Congratulations to these outstanding performers.

Top Closed Units Awards

  Prime Home Equity - Julia West, PNC Bank
Prime Purchase Mortgage - Lara Ojeda, RMC Vanguard
Prime Refinance Mortgage - C. J. Sears, Bank of Blue Valley
  Home Equity - High LTV - Craig Martin, Capital One Home Loans, LLC
Sub Prime Home Equity - Leslie Walton, HFC
  Sub Prime Purchase Mortgage - Sherry Jackson, Loan Net Expo
  Sub Prime Refinance Mortgage - David Fallarino, Sterling National Bank
  Top "Find a REALTOR®" Program Performance
Martin Alvarado, NationPoint
  Top Overall Experience Customer Service Rating
Anuradh Tekumalla, The Grange Bank
Elsa Valarik, PNC Bank



2005 Spirit of LendingTree Award

The highlight of the Loan Officer Recognition luncheon was the presentation of the annual Spirit of LendingTree Award.

This award was designed to recognize one unique LendingTree Network loan officer who demonstrates daily the characteristics that LendingTree values: Empowerment, Excellent Customer Service, Winning Despite Obstacles, Integrity, and Teamwork.

We received a record number of nominations from our Network lenders this year. We selected five finalists from those nominations. The members of the LendingTree senior and executive management voted on the final winner. The 5 finalist were:

Spirit of LendingTree Finalist

Michelle Daniel - New Equity Financial Corporation
Beverly Grubb - The Grange Bank
Michelle Nelson - Pinnacle Mortgage Group
Joshua Zacharias - Capital One Home Loans
The winner of this year's award is Mark Bally of Nationwide Lending Corporation.

Here is an excerpt from Mark's nomination:

"Mark has worked with Nationwide Lending since February of 2002 and if I were to use one word to describe this man it would be Selfless. Mark is extraordinarily unselfish, and his willingness to spend time teaching our new Mortgage Bankers more about the business and Lending Tree has benefited our company ten fold both in terms of culture and production. At a time when most companies had to threaten the employment of a Mortgage Banker to take Purchase leads Mark has led the charge. He is the best Mortgage Banker in this company because he puts the customer in the loan that is best for them, not what financially makes the most for him. He pushed himself out of the comfort zone and financial security of the Refi business to devote himself fully to Purchase for the challenge in his profession and the need for leadership is (sic) this segment of our business. You will not find a finer person who is more respected and loved by his co workers than Mark!"

Congratulations to all of the 2005 LendingTree Loan Officer Award winners! We look forward to seeing you at the 3rd LendingTree Loan Officer Sales Rally in 2006!


Class Is In Session - LendingTree University!

LendingTree is pleased to launch LendingTree University - a day-long educational event, providing information and tools to make you a more successful loan officer!

Designed to help you improve your performance and help you close more loans, these sessions are sure to motivate and inspire you to take your business to the next level!

The first half of each day, we'll provide you with the tools and information you need to maximize the use of LendingTree programs designed to help you close more loans. LendingTree presenters will review the best practices for using our tools and provide concrete success metrics from other loan officers.

We'll devote the second half of each day to providing you with sales techniques and training that will improve your Network performance. Designed specifically for you, the LendingTree Loan Officer, topics and presenters include:

  • "Making the Call - Creating Success When Banks Compete" - Vernon Roberts, Founder & President of eVoke Learning:

    An easy to understand call connection model is used as a foundation for walking though the activities that create successful client relationships. Loan Officers will work through challenging case driven activities and rehearse skills that they have learned. Vernon will lead this interactive workshop that deals with both the tools and the mindset successful loan officers use to create success. After the workshop Loan Officers will understand the effort and the steps that it will take to create success with mortgage clients

  • "Motivational Selling" - Ed Tate, Enlightened Leadership

    Ed will provide advice on selling effectively, staying motivated and being a peak sales producer. Ed is a successful trainer, author, international keynote speaker and executive. As an author, Ed co-wrote the book - Motivational Selling. For fourteen years he was a successful National Account Executive, selling over $500 million in products and services. He is also a contributor to the books: Stories Trainers Tell (2003, Jossey-Bass Pfeiffer) and The Seven Strategies of Master Presenters (2004, Career Press). Additionally, Ed co-produced the audio CD album, Speaking Secrets of the Champions

Class will be in session beginning on June 15 in Philadelphia and will continue throughout 2005. Please note that the agenda will vary by location.

To view the agenda for each location, go to www.lendingtreetraining.com

June 15, 2005 - Philadelphia, PA
July 20, 2005 - Kansas City, KS
August 17, 2005 - Irvine, CA
October 19, 2005 - Edison, NJ
November 16, 2005 - Atlanta, GA
December 8, 2005 - Houston, TX

Each session will cost $245 per person. This fee includes breakfast, a working lunch and a post-training networking cocktail reception. Don't miss out on this exciting opportunity - seating is limited so register today at www.lendingtreetraining.com. For more information, contact us at loprograms@lendingtree.com.


"Find A REALTOR®" - Your Key for Purchase Success!

LendingTree has found that when lenders find a REALTOR® for their consumer, they are 5 times more likely to close the purchase loan than if they do not find a REALTOR®. Therefore, we believe that when our Network lenders work directly with a home buyer's REALTOR®, the lenders have a much better chance of closing the purchase loan.

We would like to share with you the following steps LendingTree has taken to ensure that all purchase mortgage consumers are given 3 opportunities to participate in the RealEstate.com "Find A REALTOR®" program.

  1. Initial Purchase QF form submission: A consumer who indicates that they are not currently working with a REALTOR® is presented with a "Find A REALTOR®" option at the end of the qualification form. If the consumer chooses to use the "Find A REALTOR®" program at this point, the contact information for that selected Network REALTOR® is displayed within the QF Details in APEX. This is your opportunity to contact the REALTOR® to introduce yourself as the Lender and to begin working together with them.

  2. Day 1 after Purchase QF submission: QF's that are not currently working with a REALTOR® and have not yet opted in to the program, will generate an Auto-Task for the assigned Loan Consultant in APEX referenced "QF Eligible for "Find A REALTOR®". They can then click into the Auto-Task and contact the consumer to offer the "Find A REALTOR®" program. Access to the "Find A REALTOR®" form to find a choice of Network REALTORS® is provided through a link in APEX. If you choose to work with "Find A REALTOR®", you can also save a link to the "Find A REALTOR® form in your web browser favorites. If you do not already have this link, please contact your LendingTree Relationship Manager for more information.

  3. Day 2 after Purchase QF submission: LendingTree has established an Outbound Team to proactively place calls to offer the "Find A REALTOR®" program to LendingTree consumers. After the first full business day from purchase QF submission, the Outbound Team begins placing calls to consumers who have not yet opted-in to the "Find A REALTOR®" program. If the consumer opts in at this time, they will be given their selected REALTOR'S® contact information, which the Loan Consultant can request from the consumer to initiate REALTOR® contact. LendingTree is in the process of adding a flag in APEX to display to Loan Officers when a purchase QF has already opted-in to "Find A REALTOR®".
Taking proactive steps to help the consumer find a REALTOR®, and to contact the assigned REALTOR®, can significantly improve close rates on your purchase business. Please contact your Relationship Manager, or email us at loprograms@lendingtree.com with any questions about this valuable program.

LenderWeb Apex Tip of the Month - Can Apex Preserve My Search Results?

As we continue to tailor Apex to better fit our lenders' needs, we are very excited to announce that we have added to the system the ability to preserve and retain any search and sorted results in both the Work and Task queue. Users will no longer have to worry about loosing their search and sorted results if they exit out of the Work or Task queue. The system will retain the results while navigating on and off the Work and Task queue until they click on the Reset button.


Using the Consumer Education Center - Speed up Loan Closings by Taking Care of the Details!

Is your customer stuck deciding if they should pay points to lower the loan rate? Are they waffling between paying PMI or taking out a piggyback loan? LendingTree's Consumer Education Center can help them make a decision and get the loan back on track for a faster closing.

The Education Center has articles and calculators to help homebuyers make informed choices. You can use the "e-mail a friend" function and forward the articles to your customers who aren't sure which decision is right for them:

Pay PMI or take out a piggyback loan? Setting the mortgage terms: Deciding whether to lock-in a rate or pay points. LendingTree even has a calculator to help do the math on paying points.

Remember to check back to the Consumer Education Center often, as the articles are updated monthly.


Check Out the LendingTree Webinar Training Program!

The LendingTree Webinar Training Program is an extremely popular training resource for Network loan officers. Designed for both veterans and newcomers to LendingTree, these interactive programs are offered at no cost. The following programs are currently being offered:

  • "Find A REALTOR® Training"*
  • LenderWeb APEX Basic Training
  • Building An Effective Email Campaign
  • "Cracking The Purchase Code"
  • "The LendingTree Consumer Education Toolkit"

In addition, look for these topics to be added soon:

  • "Real Estate 101: Fundamentals of the Home Buying Process." This program is designed to educate you on the basics of the home buying process and give you practical tips to help you work more effectively as a team with the Real Estate Agent, in order to get your Purchase customers to the closing table with as few complications as possible.
  • "The Loan Officer Certification Process" LendingTree knows how much our lenders and loan officers value the Gold Leaf Seal. Designed to help you understand how to become a Gold Leaf Award winner and maintain your certification, this program will educate you on the process and criteria used to determine qualification.
  • "Managing Your Pipeline" Did you know that the Task function in LenderWeb APEX was designed specifically to help you manage your pipeline? Learn quick tips and tricks that enable you to stay in control of your pipeline, not be overwhelmed by it!
  • "Make a Positive Impact With The Lender Scorecard" Our lenders provide excellent service, and we want our consumers to know it! Did you know that every loan you close has the ability to impact your rating on the Lender Scorecard? This session will explain how the Lender Scorecard is calculated, as well as provide tips for how to use it to your advantage!

For course descriptions, dates and registration, simply visit www.lendingtreetraining.com. Availability for each session is limited, so be sure to register early! LendingTree is dedicated to developing and providing a diverse training program to our partners and will continue to expand this program in 2005. If you have any comments or suggestions regarding the Webinar Training Program, please contact loprograms@lendingtree.com


Loan Officer Kudos - Where Consumers Say Thank You!

"My experience with LendingTree was excellent. The lender which I chose [First Residential] was really good, both in the final refinance package offered to me and in their continual communications throughout the entire process including the evening that I closed on the loan. Their closing department was there for me, as several questions did come up. I was able to contact a "person" after 6:30pm, by telephone, who answered my concerns, as they arose. Again, I was totally happy with the service used with my LendingTree experience. "
Bernie Richardson
Refinance
New Hyde Park, NY

"Hi, we had a wonderful experience with LendingTree lenders. We worked with Nicole Niehaus at First Residential and another person with Omni. We had many offers but these were the 2 who really worked hard for us. We had some competition for our loan between the 2 and we received a rate that we're proud of...we're happy. We signed papers last Sat. It was a pleasure working with Nicole."
Lyn Watts
Refinance
Baxley, GA

"... I want to thank you for helping me out. I really appreciate it. This has been one of the most easy loan processes I have ever done. I'm even giving friends and family members your email. The Synergy people are so nice and made sure I felt good about the info I had to supply them with. They assured me all my info would remain in their files only. I couldn't thank you enough. LendingTree is the best. There truly are people who want to help people like me out… I will refer you anyway I can. A truly happy customer of LendingTree. PS. I feel like a winner because of your company."
Pollyanna Baca
Auto
Santa Fe, NM


Sales Tip of the Month - What's Your Direction This Year?

Did you set sales goals for 2005? What's your status?
Now that we are in Q2, it's time to review your progress, re-evaluate your action plan, and get to work. Formal goal setting is a good investment of your time, so make sure you get it done if you want to succeed. As Yogi Berra said, "If you don't know where you're going, you'll probably end up someplace else."

Reprinted from justsell.com


LendingTree in the News

Check out these great articles on LendingTree!

 
  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.