Mortgage Leads, asking questions Rejections

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For those of you that mortgage brokers or loan officers know that cold calling is an essential part of the game sales.

One must also realize that no matter how good that is when it comes to sales, there will undoubtedly experience over the phone and waste challenges.

Here are some tips to overcome some cancellations receive credit applications and more.

You can be the customer who talk with their spouse before they have to do to tell aDecision.

If this happens, ask the client if the spouse is present, and if they are, ask if you can talk to them.

If the spouse is not available, ask when and if you recall at this time.

Some customers say that I can no longer interested.

This is not unusual because when the people of mortgages online, are motivated by feelings in general. What seemed a good thing to do, last night is not to seem like a goodwhat will the morning.

So, is interested in you to get them back.

If you are faced with the challenge of explaining to customers that products are expected to fit their needs. Tell them you are not obliged to do, they need only sit and listen for a few minutes while you go about your products.

When completed, the customer permission to send some literature questions with your business card. And if you can followwith a call a few days.

This is the beginning of building the relationship with customers. The more informal contacts you can use your client as comfortable as they have to do with you.

Unfortunately, not every call is a slam dunk cold, then six more prepared for the challenges that are on the phone, the more successful you will face.

CeMAP 3 Tips To Pass

1. Read the question to see whose shoes you should put yourself in. Sometimes it may be a mortgage broker; other times a building society manager. Put yourself in that person's shoes and try and imagine you are them before you answer the question.

2. Think generic products. Although your own product range will undoubtedly help you, the exam is based around generic products not specific ones which you may deal with.

3. Questions in CeMAP use very cautious lending policies rather than the very adventurous ones available in the market.



Unlike any other lenders on the market, the CeMAP paper operates standard income multipliers, it always charges higher lending fees, it doesn't lend to people with CCJs, it promotes both repayment mortgages and interest only mortgages with ISAs and endowments. It is the perfect lender and adheres to the CeMAP syllabus.

4. Be aware of the sections. Section A and B cover applying for a mortgage - all areas when a mortgage is applied for right up until the mortgage offer is issued.



Section C covers all things that occur after completion of the mortgage, invariably handled by the lender's head office or branches. Section C also covers a lot of Mortgage Conduct of Business Rules as do sections A and B.

5. Know that you have 2 hours for the whole paper but be aware of how much time to spend on each case study. In the paper you will have 6 case studies all consisting of 10 multiple choice questions. We recommend 20 minutes on each case study

6.



Revise your calculations before the paper. There will invariably be questions which require you to do a calculation. Percentage advances, higher lending fees calculations are just two examples

7. As you read the case studies, if they involve clients, try to imagine they're sitting in front of you and drift into this state. Read the case study again with the new image in your head. Jot down key words and phrases from the case study. Then tackle the questions. Really get a handle on the case study as every question will relate to it in one way or another.



8. Try Mind mapping the Mortgage Conduct of Business Rules to bring it to life and make it easier to study.

9. In a standard multi choice exam, like the CeMAP 1, its good advice to leave out questions you're not sure of and come back to them at the end. In this exam this is not so good, since all the questions relate to a case study which you have to swallow first before you answer the questions. By all means, leave out those questions you don't know the answer initially and come back to them before you move onto the next case study.



10. If you need glasses for computer usage, don't forget to take them. Sitting in front of a screen for two hours can hurt your eyes otherwise. If your company gives you free eye tests if you're a computer user, get one done before the exams and buy your glasses as soon as you can. Doing an exam with an excruciating headache is no fun.

11. Remember standard multiple choice question strategies. Read the question first twice without glancing at the answers; cover the answers with your hand if you have to.



12. Always relate the question back to the case study information as this will help you enormously.

13. Have you ever seen a line of dominoes on the floor where the first domino is toppled and this nocks the next one and so on and so on. I think the Guinness Book of Records states that the longest row of dominoes is in the thousands. Anyway this image will help you realise the way CeMAP 3 questions work. Many questions link to the next question. For example the first question may ask you to select an appropriate product.



The next question would then ask a question relevant to that product. Sometimes, if you're unsure of the answer to question one, either the question stem or possible answers to question 2 may jog their memory. So it's a good idea to look at the other questions for hints at the answers to others.

14. Use elimination with CeMAP for every question - it's the best technique going and can invariably lead you to an answer that you weren't too sure of. Even if you are fairly sure of the answer, eliminate the wrong answers as this helps you to keep concentration going.



Remember after 90 minutes, you will become tired and will begin to miss things. Things that are obvious when you have lots of energy just get missed when you're tired. Using elimination makes you focus on very option and not miss anything.

15. Keeping yourself active during the exam helps concentration. Take a blank piece of paper for each case study and make notes of the key information as you read the story. In the Pearson Vue system you receive a small whiteboard to write on which can be wiped clean every time you move onto a new case study

16.



Don't forget the older mortgage schemes and methods crop
up in the exam. For example stabilised and low start mortgages haven't been sold since the early 90's but people may still have them and thus they are tested.

17. Try a technique to forget the case study entirely. One delegate suggested you close your eyes and think of England/Wales/Scotland before you move on. Others have suggested some sort of visualisation, maybe, your last holiday lying on the beach.



Whatever you do, try to rid your mind of the last case study from your mind, before you move onto the next one.

Paul is an international speaker, trainer, author and coach based in the UK. He specialises in rapport selling and rapport sales management and can ignite his audiences large or small. Rapport selling gets more results.
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