Intro & Overview

A step-by-step guide for originators to immediately make more money with Hot Transfers from Next Wave

Time is MoneyAs a residential mortgage loan originator, your time is your

most valuable asset. Your time is money!

Your sales efforts are typically the most TIME-CONSUMING of all of your activities

1. Sales process always begins with MARKETING

2. Most mortgage marketing is OUTBOUND phone marketing:

• Internet mortgage leads• Telemarketing mortgage leads• Cold Calling for mortgage leads• Etc.

Outbound Marketing Can Be FRUSTRATING

Outbound phone marketing is frustrating because it takes up TOO MUCH TIME, thereby COSTING YOU MONEY

Examples of typical frustrations of outbound marketing:

• NO CONTACT is ever made with borrower – despite constant repeated efforts

• NOT INTERESTED – Once borrower is finally contacted, borrower immediately claims no interest and disengages from the dialog

• NOT QUALIFIED – Once an actual interested borrower is finally reached, they immediately do not qualify for the most basic reasons (mobile home, non-homeowner, outside of state licensing, etc.)

Receiving Hot Transfers from

Next Wave is the Solution

Hot Transfers = ProductivityWhen you begin receiving Hot Transfers from Next

Wave, you instantly become more productive. Potential borrowers are all put through our NextWaveConfirm process, which results in:

• 100% contact rate

• Only interested borrowers

• Only qualified borrowers

* Recordings are made of every transfer to PROVE IT!

Sounds Great, So How Do We Do It?

The next few slides describes how all the pieces of our Hot Transfers process fit together and how originators are able to MAKE MORE MONEY as a result.

NextWaveConfirm

Script

Internet

Loan Officer

Next

Wave

Live Transfer

Borrower

QA

Call RepsLeads

Three easy steps…

STEP 1: A BORROWER EXPRESSES INTEREST in a new mortgage loan

Expressions of Interest Include:

• Submitting a form on the Internet requesting a free mortgage quote

• Expressing interest in a free mortgage quote to a telemarketing rep

* Borrowers that request a free mortgage quote are now “in the market,” thus it is considered a “lead.” Most companies will sell just the information associated with this “lead.” We do not.

WE DO MORE…

STEP 2: NextWaveConfirm the Leads

We send the leads (only those matching your exact criteria) to our American call center who then:

1. Makes CONTACT with the borrower listed on the lead

2. CONFIRMS the borrowers interest in obtaining a free mortgage quote

3. PRE-QUALIFIES the borrower

STEP 3: Live Call & Data Transfer to YOU!

We transfer the interested and pre-qualified borrower to you LIVE. You can also view the borrower’s lead sheet data at the same time using a standard web browser.

STEP 1 (Expression of Interest)

STEP 2 (Contact & NextWaveConfirm)

STEP 3 (Complete Call & Data Transfer)

NOW FOR MORE INFORMATION ON:

More About STEP 1: Expression of Interest – How do we know the borrower is interested?

Borrowers can express interest in receiving a free mortgage quote through one of several different methods:

1. The borrower submits a form on the Internet requesting a free mortgage quote. Borrower’s are driven to free mortgage quote request forms via:

1. Email advertisement offering a free mortgage quote

2. Web banner ad offering free mortgage quote

3. Search Engine Optimization on keywords such as “Refinance,” “Debt Consolidation Mortgage,” etc.

2. The borrower is solicited by a telemarketing rep, expresses interest in receiving a free mortgage quote, and provides the telemarketing rep with some basic information

3. An inbound call from the borrower (from various online/offline advertising channels) requesting a free mortgage quote.

Regardless of the method the borrower initially used to express their interest, the borrower’s interest in a free mortgage quote is always confirmed by our call center

Method

Method

Method

More About Step 2: NextWaveConfirm – Making Contact w/Borrowers

• Power Dialers – Leads are loaded into power dialers and called for three consecutive business days. If no contact is made after three consecutive business days, the leads are removed from the queue.

• Who’s Calling? – Call center agents are instructed to say that they are calling on behalf of “The Mortgage Quote Network” regarding a recent request for a free mortgage quote

More About Step 2: NextWaveConfirm – Confirming Interest

Our process is designed so that only borrowers genuinely interested in receiving a free mortgage quote are transferred

• Triggers are in place that allow non-interested borrowers to disengage

• Non-interested borrowers are rejected

Even borrowers that may be “on the fence,” the 45-second average hold time (dead air) provides genuinely non-interested borrowers plenty of opportunity to hang up. Hang-ups that occur with less than 60-seconds of hold time are NOT considered transfers.

More About Step 2: NextWaveConfirm – Overcoming Mild Objections

Our call center agents are trained to reject borrowers that are not interested in receiving a free mortgage quote, but are also trained in overcoming certain mild objections that are often encountered

• Not Enough Time− Call Center Response: “It should only take 3-5 minutes of your time”

• My Spouse Made the Request− Call Center Response: “Do you make joint decisions? Would you like

to take down the information on behalf of your spouse?”

• I’m already in the process of refinancing− Call Center Response: “Is there any harm in just obtaining a free

quote in order to ensure that you are indeed getting the best deal? There is no obligation.”

• Can’t beat my current rate/payment/pre-payment-penalty, etc.− Call Center Response: “Is there any harm in just obtaining a free

quote? There is no obligation.”

More About Step 2: NextWaveConfirm – Pre-qualification of Borrowers

Our process is designed to only allow only pre-qualified borrowers to be transferred based on a few critical pieces of information

• Screen out properties that are not within your state licensing− Confirmation Piece of Call Center Script: “Are you still in Los

Angeles, CA?”

• Screen out all mobile/manufactured homes & screen out all mismatched loan type (i.e. purchases or standalone 2nd mortgages)

− Confirmation Piece of Call Center Script: “That property that you’re looking to refinance, is that a single family home? That’s not a mobile or manufactured home is it?”

• Additional filters are applied based upon the borrower’s lead data BEFORE the lead is sent to the call center on your behalf (thus is not verified by call center agents), including:

− $100,000 minimum property value− Borrower’s self-assessed credit (Excellent, Good, Fair, Poor)− Current LTV filter (optional)

More About Step 2: NextWaveConfirm – Consent to Transfer

At this point in the process we have already:

1. Made Contact with the Borrower

2. Confirmed the Borrower’s Interest in Receiving a Free Mortgage Quote

3. Pre-qualified the Borrower

We now propose to transfer the borrower live:

− Call Center Script: “What I would like to do now is quickly connect you to one of our mortgage specialists at [Your Company Name]. They will be able to help you with that free mortgage quote.”

Borrowers that agree to be transferred move on to Step 3 (Complete the Live Call & Data Transfer)

More About Step 3: Transfer – The Live Call & Data Transfer Process

1. Call center agent makes contact with originator – Call Center Script: “Hello, this is [call center agent’s name] calling from the Mortgage Quote Network call center. I have John Doe on the line. His phone number is 949-555-1212”

2. Originator enters borrower’s phone number into Next Wave website – This phone number lookup brings up the lead sheet data associated with the borrower

3. Call center agent takes borrower off of hold, introduces the two parties, and completes the Live Call Transfer – Call Center Script: “Hello John, I have [loan officer’s name]. He can help you with that free mortgage quote. Go ahead [loan officer’s name].”

4. The selling process continues between you and the borrower – Call center agent disconnects from call

Best Practices in Working Hot Transfers from Next Wave

NOW FOR MORE INFORMATION ON:

Ensuring Minimum Time on HoldOne of the most valuable aspects of our Hot Transfers program is being able to speak

with a LIVE interested borrower 100% of the time. In order to ensure that the borrower is transferred live, keeping their time on hold to a minimum is critical

Best practices• Accept transfer in order to get borrower off-hold ASAP, even if it requires you

to delay:

− Your login to web interface− Borrower’s Lead Data Lookup− Spelling and/or pronunciation of last name

• Simply jot the information down provided by the call center agent and enter it in AFTER you have accepted the live transfer and while speaking with the borrower

Worst practices• Tell the call center agent to “Hold on while I [fill in the blank]”

• Ask non-standard questions to call center agent (i.e. “how much cash is he looking to take out?”)

• Engage in dialog with call center agent (i.e. “how is the weather out there today?”

Opening Dialog w/BorrowersYour opening dialog with the borrower is critical to establishing rapport and

confidence with the borrower. Keep in mind that the transfer began as an outbound call and happens relatively quickly, so it is critical that the originator take control of the process after the transfer.

Best practices

• Take control of the process – first let them hear you and hear who you (and your company) are

• Sample Dialog Script: “Hello John, my name is [your name] and I’m a Sr. Loan Officer here at [your company]. We specialize in [fill in the blank]. What I would like to do now is walk you through our quick process in order to find the best deal to meet your situation and your objectives. Let me start by asking… (originator maintains control)”

Worst practices

• Let the borrower take control by asking successive questions for you to answer (i.e. “what can I get on a 30-year fixed?”)

• Opening with statements such as:

− “What can I do for you?”− “How is it that I can help you?”− “What are you looking to do?”− “So, you’re looking to refinance?”

Acknowledge Any CompetitionAll of our Hot Transfers are exclusive. However, as you now know, our process begins

at Step 1 with an interested borrower who is “in the market.” Consumers who are currently “in the market” for anything tend to look for their best deal. It is always best to acknowledge the competitive environment.

Best practices

• Competitive quote based on awareness that borrower is “in the market”

• Always ask about competition before quoting/pitching

Worst practices

• Uncompetitive quotes or price-gouging

• Ignoring the existence of any potential competition

Conclusion & Summary – Why Hot Transfers from Next Wave are Great

• 100% Contact Rate

• 100% Interested in Receiving a Free Mortgage Quote

• 100% Pre-Qualified

MEANS…

Conclusion & Summary – Why Hot Transfers from Next Wave are Great

Spend Less Time…• Chasing down borrowers

• Leaving voice mails

• Sending emails

• Scheduling call-backs

• Speaking with borrowers that immediately claim no interest in speaking with you

• Speaking with borrowers that are immediately not-qualified for the most basic reasons

If you could replace ALL of the time you spend each day on the items above with time spent selling, how many more loans would you close each month? 2? 4? 8? 10?

Simply put, originators will immediately make more money as a result of receiving Hot Transfers by Next Wave

Conclusion & Summary – Why Hot Transfers from Next Wave are Great

NOW FOR SOME ANSWERS TO SOME FREQUENTLY ASKED

QUESTIONS (FAQ)

FAQ – Borrower’s Credit

Is credit pulled on the borrowers prior to the transfer?

• Out of privacy concerns, we do not collect borrowers' social security number. Thus, we do not pull a borrowers credit report or access their FICO score. Credit filters are based upon the borrower’s self-assessment of their credit (Excellent, Good, Fair, and Poor).

FAQ – Technology Requirements

Is any special phone or Internet technology required on our end in order to receive Hot Transfers from Next Wave?

• No. All that is needed is a phone number that is dedicated to receiving Hot Transfers and a standard web browser. However, certain phone features may improve your effectiveness in handling large numbers of incoming transfers being routed to large numbers of loan officers. You may wish to discuss your objectives with your business phone system service provider.

FAQ – Internal Call Routing

Can we have the inbound Hot Transfers routed to a receptionist first, and then re-directed to a loan officer?

• Yes. However, getting the borrower off hold and speaking with a live loan officer as quickly as possible is a key to the effectiveness of our Hot Transfers program. Thus, this approach must be well-coordinated, well-managed, and efficiently executed. We require that the borrower be connected with a loan officer within 60 seconds of the time that they are placed on hold.

FAQ – Call Recordings

Are the conversations between the call center reps and the borrowers recorded?

• Yes. All conversations between borrowers and the call center reps are recorded and are available for your review within 24-hours of the transfer by logging into the online admin section of your user account.

FAQ – Conversion Ratios

What type of conversion ratios (from transfers to fundings) are Next Wave clients experiencing?

• Next Wave Clients overall conversion ratios tend to be directly relative to the size of their organization and the number of transfer-receiving originators. As the chart below illustrates, the middle of the bell curve in terms of conversion ratios is approximately 10%.

LargeInstitutional

Lenders

Mid-Market Lenders

Small Operations & Net Branches

Overall Conversion Ratio from Transfer to Funding

Number ofNext Wave

clients

5-6%

6-10% 10-15%

15-25%

Mid-Market Brokers

FAQ – Compared to Mortgage Leads Companies

Next Wave offers one of the most expensive products in the industry, which are also the best value as the chart to the right illustrates.

B

A

CD

Performance

Pri

ceA = Next WaveB = Exclusive Telemarketing LeadsC = Non exclusive Internet leadsD = True Branded/Organic Internet Leads(i.e. LowerMyBills, LendingTree, etc.)

THE END – Thank You

Contact Us:

• Office 949-861-3122Mobile 949-280-2548Fax 678-868-3122 Email troy@nextwavemarketingstrategies.comWeb http://www.nextwavemarketingstrategies.com