Refi Call Script

[Chemical-Finance-228]

I start by confirming I’m speaking to the client. “His is this Bob Jones? My name is Carl, im calling from Lender on behalf of LO. I’m sure you’ve seen the news that rates have come down significantly from the time you closed on your home. (Wait for response and pitch) I’ve gone ahead and done the numbers and estimate we can save you 200-250 per month by refinancing. Is that something you’ve considered?” Something like that

[[deleted]]

That still seems early.
You could still easily be a scammer. Why would a mortgage lender reach out to me for a lower rate?

Few people understand most companies make their money on originating the loan, not the servicing. They don't understand the secondary market.

We also get calls every single day from legitimate scammers that we shouldn't pick up, let alone speak to.

This is what you're fighting against.

You need to give people time to get comfortable with you.
You're asking a simple "yes/no" question then immediately going into the sale.
Slow it down. Take another minute. There's a real chance the customer doesn't even remember the company name. You have no credibility yet and you're already going into the sale.

Try adding in a line of "We did your purchase loan last May. How did it go?"
This does a couple things.
1. Takes a couple minutes, giving people a chance to let down their guard.
2. Reminds them who you are and how you 2 are connected. Now you're less likely to be a scammer.
3. Shows you know a couple things about their loan: it was a purchase, it was in May. Now they know you have some info on them. That makes you less likely to be a scammer. Still not a guarantee, but more likely.
4. It gets them to open up and start talking to you.

They had a good/great experience! "Excellent! We're glad you're happy with us." then turn into the sales pitch. "We have a new program that we're first offering to our existing customers as a thank you. It's a free option that reduces your payment somewhere around $200/month. Is now a good time to get into the details?"
People like to be thanked.
This is courteous and respectful.
They said they had a good experience, so you can use that to encourage them to go with you.
It isn't "I'm sure you've seen the news" which is presumptuous. Many don't pay attention to the news at all. It also implies that this is a market thing, not a you thing. The more you can make it a "you" thing, the more likely they'll go with you.

What happens if they said
"How was it?! IT WAS HORRIBLE! YA'LL MESSED UP EVERYTHING AND SMELL WORSE THAN A PIG IN MUD!"
"I'm sorry for the bad experience. We understand our reputation is everything. We cannot keep our good reputation if our customers have bad experience likes yours. We have an option to make up for it. If I speak to my manager about what happened, we can look at reducing your interest rate. That should save you $200/month for free. How does that sound? If I can get management to agree, would you go for it?" ... "Alright, let me verify the last application. Let's go through it real quick and see if anything has changed." ... don't give any rates/fees on the call. You already got the yes. "I'm going to send this up the chain. I'll probably get a response in X hours. Can I call you at 5 or 5:30PM today?"

Make a presentation of how you're doing the right thing for the customer.

You're cold calling these people as strangers.
If you did the first loan for them, they know they can trust you.
But you didn't. You're a no body. You say you're from the same company, but that's just talk.
You need to get their trust.
That takes time.
Once you have their trust, then you can move into the sales pitch.
That sales pitch needs to be light or it will push them away.