Tulsa Mortgage : Podcast 155
Tulsa Mortgage This is Steve Currington dot com in the Steven Tyler show episode number one fifty five.
Steven Tyler with Steve Tom and Tyler one. Negotiating partner. Is. Very smart.
Good for you that they’re talking about everything you know is. No one knows what it is like just get ready. Here’s Steve.
Tulsa Mortgage What is up. What is up with Steve Currington com broadcasting live from the koala’s studios we’re actually in Jynx America with the drive time. She’d like box that rocks we call it right. And today if you’re listening out there in the podcast world as I like to call it you’re watching on total ending here. We’re going to talk about Tyler. It’s what causes a loan closing and how or delay and how to handle it you know. So a lot of times we will try to come up with a topic of something that we’ve recently dealt with some of a toddler on the spot because yesterday I hadn’t even heard the deal because I know you had a closing at 2. Yeah.
It was over 350 is faithful all the way. The whole loan was delayed although it was a it was a section 1A for loan which is a Native American loan.
So why why did we have it. Because. I want to know what you think. We had a closing. Why that loan was delayed. And then I want to say that I agree with I don’t know.
Honestly. I mean and this is going to happen. There are humans involved in a transaction and humans are going to mess up.
Tulsa Mortgage So we had an operational deal where you know we we switched around some processing and we had to file that stuff on it. It just.
Get delayed you don’t get to it a week and a half when you get a week and a half when you when you’re in a 30 day contract. I would like to say that we still closed the and about 40 40 days was 45 days.
Yeah. Some I think 45 is what we came up with. We were literally eight days from their original closing date.
We were eight days late. So what were you dealing with in this last couple of weeks as it pertains to the client to the client. Were they mad they were upset with a screaming and yelling. What was happening.
Tulsa Mortgage Yeah I’ve heard words. I don’t think I’ve heard before was that bad.
Yeah. So what were cusswords on the TV and the radio. Wow. So there they were not happy then.
Not at all. No.
But you know you just can’t play into that. I mean I don’t know I just kind of got to a point with them where I was just you know no emotion no anything.
This is all very matter of fact this is what we’re doing.
That’s all I could do. You know I can play into that.
And you know be a victim of it just kind of is what it is and you’ve got and you have to identify the fact that we had a problem. We did that. But you have to keep redirecting this is what Tyler and I talked about through this whole deal is that everybody they want to keep dwelling on the mistake that was made three weeks ago. Right. Which we’ve already correct. Right. And so now they’re every day that goes by that you don’t close and it’s past your closing day. You want to rehash what happened three weeks ago right. And that’s the problem. And that’s perfectly normal if you’re a human out there. Look we’re not perfect and nobody’s perfect when we mess up. You know we we step up and own it and we call it falling on your sword and just taking ownership whether we own it or not we’re going to. Right. But people want to just rehash rehash rehash and not focus on the goal of just getting to the closing day. So the other thing a very difficult thing to do is once we’ve done all that and we’ve figured it all out now it comes to closing day. And so now you’ve got this contentious it’s maybe relationship with a client who’s not happy.
Tulsa Mortgage Right. With where the real estate team that we do a lot of business with the realtors probably not happy. The listing agent maybe is unhappy was the missing agent happy.
Actually she was losing agent was she you know she was on edge a little bit but you know right around the time that it was to be closing and it didn’t. But she was good so closing no.
So I noticed there I said was the seller closing. And how a toddler know that. Well I was at that because he went to the closing so some people.
When things happen and there their problems and there are delays. And whatever happens they they like disappear. They go into a cocoon. They’re like they don’t answer the phone. They don’t respond. Their response time becomes worse their communications start sucking because they don’t want to take the heat. Right. They don’t want to get beat up every day. Now. You sure that’s easy. I think so. So what do we say. I said what you know the system. Feel free to share. Blatantly What’s the number one reason I told you make sure that the kids who are not there.
Their faces on the dart board. I mean if you’re not there if there were problems they’re going to talk about you. It’s going to happen. So at the closing table while they’re signing and they’re making small talk be like gosh guys thanks for being so patient. I’m so sorry that this lender sucks so bad. Right. It’s true.
I’ve seen it before. I mean I’m telling you I know sometimes a letter from you right there may be a little bit more reserved when they’re right in front of you.
Maybe you hope right.
Tulsa Mortgage But the key is is that you still own it you’re a professional you go to the closing and you make it right now.
Side side to that just because I want to know how to close that gap. Terrible. Absolutely terrible. Why not.
I mean for one that’s the last room anybody wants to be in. I mean seriously I think I probably would have rather fell in line cage at the zoo.
Tyler literally would have rather gotten eaten by lions. Yeah. That’s Sam. He wants to get eaten by lions instead of going to the closing the problem Provan less painful.
Tulsa Mortgage But yeah all the way to the end. There is a delay on the wire coming through. There is a delay on getting docs approved. Literally the borrowers had to leave the closing table without keys. They got their release yesterday. It all happened yesterday.
But you know there’s Well a surprising thing though. You know we’re in Tulsa Oklahoma and we are a. We call it a wet state which means we close and fun and take but there are some states where you close you don’t get your keys for it until lunchtime which sometimes can be and tell it like.
To figure it out. Next day two days later.
So. So that’s normal for us for them to not go. And then you know when it comes to a wire I mean the wire has to get sent. Has it received. It’s a big chunk of money yeah. So. So it was painful that minute. That was painful. How do you feel the client felt after it was all done.
Did you get any like Hey thank you for working so hard. Hey sorry that I was such a butt hole. Anything.
No no no. I didn’t get it thank you. From the wife. But at the very end as she was leaving me know thank you for handling it. Obviously you know not. Thank you for delaying me and causing all this pain. But you know she did. That was a nice gesture as she was leaving. Well yeah. It could’ve been worse.
Tulsa Mortgage But so my question to you Tyler and I haven’t told her this at all but how do you think we should respond as a company after the fact now we’ve already done stuff where we where we you know paid some of our closing costs and we gave him a lender credit where we could. Right. But what’s the next step. To when that client over too. I mean do you believe and just give me honest answer. Do you think and not just this specific line but do you think at this point it’s like hey man we. Screwed this up. We’ve lost them I mean they’re so ticked that we’re not going to get it.
Well I think this particular client more probably never going to him for again.
But I know there have been several where things happen delays happen and you know they’re accepting of it and they’re still clients for life. I mean you know at the end of the day.
Humans are humans and they’re going to do what humans do. So is going to mess up. Right. Period. So I mean you can’t just crucify somebody for that. So you were delayed a week.
People will crucify you and I think Tyler in this case you feel like he probably got crucified which is fine because you’re a professional. Right. And when you make mistakes you’ve got to own. What I’m going to suggest is that there’s a whole lot that you can do.
Tulsa Mortgage After the fact. Because I believe your response determines your destiny that you get it after the fact to go above and beyond with that client. To make there. Now that they do have their keys make their move in good. That type of thing. So we’ll talk about that off the air about something that we can do that would just brighten up their day and help them maybe not think so much about the fact that they were delayed eight days because I have found this wrong time that a lot of people really fired up and wired up especially when things don’t go well because it happens from time to time but once they get it and they’re done and they get the keys in there they’re done. Changes you know people lighten up.
They cool off. They realized it wasn’t so bad. Remember we do this every day. But for the clients that we’re working for they’re dealing with it this time in five or seven years. So things that are not a big deal to us are often a big deal the client. So when dealing with closing delays deal with closing doors. That’s all I can tell you.
Broadcasting live from that koala’s studios in Tulsa Oklahoma. You’re listening to this entire show.Tulsa Mortgage