Katy McLaughlin

speaker

175 appearances 2 recordings 1 series first heard Jul 2019 last heard Sep 2019

Katy McLaughlin’s voice in public audio — every appearance, attributed to the second.

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These are the best customers who these lenders really want to hold on to.

They don't necessarily want all of their borrowers to call them up and demand a loan mod.

It really isn't available to all borrowers.

It particularly isn't available to borrowers whose loans have been sold off to another lender.

And they don't want to disappoint all their customers.

And they can't do anything about that.

Once that loan is sold, they can't modify it because they don't hold the loan.

So they don't want a lot of disappointed customers coming to them.

And I kind of think that some of them would rather, if they can, they'd rather have their customers go into refis.

I mean, that was my suspicion because they do make more money on refinancing.

Yeah, that was kind of interesting advice from an executive at TD Bank.

And I kept asking him, OK, should they call you?

Should your borrowers call you and ask?

And he said no.

no, we don't do this right now, but we may do it.

We've been talking about it.

It is a good thing to do for the customer retention and loyalty that we talked about.

You have nothing to lose if you call up your lender and say, hey, do you still own my loan?

I really love the new rates.

I mean, you don't lose anything from asking.

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