Pulte Mortgage is partnering with Finicity, a leading provider of real-time financial data access and insights, to provide its borrowers with a faster, simpler and more secure way to complete the mortgage process. Pulte Mortgage is a wholly-owned subsidiary of PulteGroup Inc. that finances new home construction for customers of Pulte Homes, Centex, Del Webb, DiVosta, and John Wieland Homes and Neighborhoods brands.

As anyone with a mortgage knows, securing a home loan has been a manual, paper-intensive process—especially when it comes to verifying borrowers’ assets. Through Finicity’s verification platform, up to 24 months of bank, brokerage and 401k data can now be accessed to confirm assets within minutes—eliminating the need for borrowers to find, copy and scan reams of paper verifications.

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This can reduce the mortgage origination time by more than a week, giving borrowers more control of the process, without a lot of the hassle. Although the mortgage process has drastically for borrowers and lenders alike, making the process easier for consumers.

“The mortgage lending industry has changed dramatically over the decades, but never more so than over the past 10 years,” said Debra Still, president and CEO of Pulte Mortgage. “The average loan file used to be about 300 pages, but today’s regulatory and compliance demands have pushed this figure to more than 800 pages. The need for ever-increasing volumes of supporting data puts an incredible burden on the borrower, which is why we strategically invest in integrated technology solutions, such as Finicity, to reduce the time and complexity associated with securing a mortgage.”

The partnership with Finicity is just the latest in Pulte Mortgage’s commitment to advance technology solutions that make it easier and more transparent for borrowers navigating the mortgage process.

In addition to their new instant asset verification feature through Finicity, Pulte Mortgage customers can upload essential documentation from their mobile device with just the snap of a picture; e-sign key regulatory disclosures with the swipe of a finger; and leverage a personalized digital dashboard to stay up-to-date on their loan’s progress when and where they want. These digital enhancements strengthen data security by leveraging advanced authentications, bank-level encryptions and secure borrower connections.

“Today’s consumers have come to expect simple and rapid experiences enabled by digitization,” said Steve Smith, CEO of Finicity. “Pulte is an innovator that is embracing digital solutions to further deliver a superior borrower experience by giving their loan consultants more time to engage with their buyers.”

“Whether it’s your first house or your last, building a new home is an exciting process,” said Still. “It is a time where you get to create a space that is uniquely personalized for your lifestyle and taste. That is why we are continuously working to simplify home financing for our customers, so they can spend more time focusing on building their dream home.”

By Pat Sherlock

Today, many sales training firms advise originators to adopt a “teaching” sales model as a way to win with a more knowledgeable customer. While this seems like a logical, reasonable approach, the sales process can be anything but. There in likes the rub. Let me explain.

Originators who operate as teachers believe that if they simply give prospects enough information about their company’s products and services, they will earn the business. Unfortunately, this sales model isn’t a match for what is needed to succeed in a marketplace where the customer’s buying journey no longer follows a linear progression. In a world of unlimited information, customers and prospects want a sales leader.

A sales leader is an originator who takes control of the sales process and leads the individual or referral source to a conclusion. Sales leaders help prospects evaluate their options; select the best choice based on the prospect’s current circumstances; and ask for the business.

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Sales leaders are also forward-thinking and recognize that there are more potential matches if any given prospecting effort doesn’t work out. That is why better originators are committed to prospecting consistently, so they don’t waste time and have no business to show for their efforts.

This is not to say that the teaching model has no place in selling. However, providing valuable information to prospects and referral sources comes in at an earlier stage in the buying process than in the past. During the building awareness phase of prospecting, sales professionals deliver important information to individuals who have not yet thought about buying a home. In this phase, originators address why consumers should buy a home and what the process looks like.

It is helping consumers become aware of housing finance options and to spark interest in pursuing the dream of home ownership. But, once the interest has been generated, the sales leader needs to take over and control the selling process for the prospect and not vice versa.

The “teacher originators” fail to recognize that more information won’t resolve the fear and anxiety prospects may have concerning the purchase of a home. Originators must ask, “Does this transaction make sense for the individual considering the prospect’s stage of life and unique circumstances?”

[caption id="attachment_9789" align="alignleft" width="307"] Pat Sherlock[/caption]

Uncertainty and fear of making the wrong choice are a few of the reasons why customers want leadership from a salesperson. Waiting for prospects to make a decision on their own is not what professional salespeople do. This passive sales approach is characterized by a lot of meetings and discussions, but no decision on whether the prospect will do business with the originator.

As one manager recently observed about one of his originators, “He is friends with everyone in his territory and is very popular, but he isn’t willing to take a stand and ask for the business.” As a result, this originator is on probation. In my opinion, this producer is a professional visitor, not a salesperson.

There is no question that today’s mortgage marketplace is difficult. The external issues of rising interest rates, housing inventory problems and cost-to-originate increases are certainly challenging. It is clear that companies who want to succeed in the long run will need to improve production across the board.

Originators who can take control of the sales decision process for the consumer can make a difference in your sales results. Top producers who are sales leaders routinely generate more than eight units a month while most originators only manage two units a month.

So, how can managers increase the number of sales leaders in their organization? There are two strategies that are core principles for future success:

1. Hire the right sales candidate. Not every candidate has the right personality characteristics to be successful in mortgage selling. Prior experience and education do not translate into selling origination success. My company has identified nine personality traits — a combination of relationship and drive behaviors — that predict sales success in our industry. No amount of training will produce these traits in candidates who are not matched for the originator position.
2. Coach and develop these originators. For individuals who possess the right sales behaviors, coaching and developing them is your best investment. Selling has changed dramatically in the last five years which means learning new selling behaviors is critical.

Experienced originators may be stuck in their comfort zones or just plain refuse to learn something new. Hiring the right individuals who want to learn new ways of selling is the key to improving origination results.

Clearly, these two strategies require a more robust talent evaluation and interview process than what is currently in place at many mortgage companies. While the downsizing of the industry continues, there will be a lot of originators available for hiring. Don’t make the mistake and hire teacher originators instead of sales leaders.

About the Author: Pat Sherlock is the founder of QFS Sales Solutions, an organization that help organizations improve their sales talent management and performance. For more information, visit https://patsherlock.com

[caption id="attachment_9654" align="alignleft" width="268"] Hershman: 'You can't pass the buck onto the settlement agent for mistakes made.'[/caption]

By Dave Hershman

 I originated a loan for a previous client. The processing and approval went smoothly. I recommended a settlement company I had never used before because they had low prices. To make a long story short, they did not do a good job. My customer called me and thanked me for my hard work helping fix the problems with their credit, but they were very upset with the closing company. I feel that I may have lost a customer and possibly future referrals from them, and I was wondering if there is anything I should do.

Would appreciate your suggestion...thanks.

—Nicole from Vermont

 First, let's address the past: Don't use vendors unless you check their references thoroughly. We as lenders have to compete with low-price companies on the basis of value and service. I always advise loan officers to actually attend settlement to help deliver extra customer service. In the case of a new vendor, this would be even more imperative. Attending settlements is also a marketing opportunity that we will address in a future segment.

Regarding the future: Now that the closing has taken place, you can't pass the buck onto the settlement agent for mistakes made. You recommended them, and therefore, you must own at least part of the issue because you led the team.

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So, what you do is apologize and see what you can do to make it better. It is said that true relationships are never solidified until things go wrong.

It is how you act after things go wrong that is the issue here.

You start by owning up to your mistake and not placing the blame on others. You continue by listening and empathizing. Finally, apologize and see what you can do to make things better. Perhaps get with the settlement company to see if they would like to participate in a solution. I don't know what that solution should be—you need to talk with the customer and get a feeling from them regarding what pain this caused. Everyone makes mistakes—including us. It is how we handle these mistakes that separates leaders from the masses.

This situation is a true test of leadership.

To me, it is an opportunity to shine and distinguish yourself from the competition. The objective is to take a situation like this, turn it around, and make these disgruntled clients into raving fans.

About the Author: Dave Hershman is senior vice president of sales of Weichert Financial and a top author in the mortgage industry. Dave has published seven books, as well as hundreds of articles and is the founder of the OriginationPro Marketing System and Mortgage School, the online choice for expert mortgage learning and marketing content. His site is www.OriginationPro.com and he can be reached at This email address is being protected from spambots. You need JavaScript enabled to view it.