Brian Coester – News – Week in review for September 10th, 2018.
“Tomorrow is promised to no one” – Clint Eastwood
Clint Eastwood said it, and he was right. Tomorrow is promised to no one so you must seize the day today. So much of the time we put off tasks until tomorrow. We say to ourselves that we will do the laundry tomorrow, call that person back tomorrow, workout tomorrow, develop that product tomorrow or start that diet tomorrow. Pretty soon your life becomes a whole bunch of tomorrows that never became a reality. All we honestly have in life is the moment and the day. If you find yourself behind on your tasks or if you have a habit of leaving things undone let us change that now. Don’t put off the simple stuff for tomorrow stay up late, burn the midnight oil and get it done today!
Mortgage Applications on the Move:
Purchase applications increased during the week of August 31st, but overall mortgage activity fell according to the Mortgage Bankers Association. The purchase and refinance mix stayed relatively stable and consistent with previous months.
Podcasts: John Maxwell Leadership Podcast:
Episode 9: Momentum Breakers vs. Momentum Makers (Part 2)
Quote from the Podcast:
“Some men succeed based on what they know, some men succeed because of who they know, but very few succeed based on who they are.”
Joe Rogan Podcast with Elon Musk:
A must watch for any fans of comedy, culture, technology, business, and life!
2008 Financial Crisis:
Several of the top housing groups are pushing the Trump administration to enact permanent GSE reform. In a letter signed by some of the senior housing groups which include the the Mortgage Bankers Association, the National Multifamily Housing Council, the National Association of Realtors, the United States Conference of Mayors, and more than two dozen others, the groups write that many of the GSE reforms enacted after the housing crisis have served to stabilize the housing market, but the groups worry that the newfound stability could be undone without a permanent solution.
Freddie Mac CEO Steps Down:
Inside the Beltway:
Nintendo will automatically save all games in the cloud when the Nintendo Switch Online Membership launches later this month. There was a belief that only some games would be supported, but Nintendo confirmed all games would have cloud saves automatically enabled. –NINTENDO LIFE
Artificial Intelligence is a huge element of technology right now. Right now you are in the test phase of AI, and they are still trying to understand the impact.
AI will affect not only companies but countries as we move into a more digital era. Leaders in AI adoption could capture an additional 20 – 25 percent in net economic benefit as a result of the passage. Companies that adopt AI will have a significant advantage in cash flow as well as execution.
Hello CoesterMers! –
Every day we work to continually improve the experience you have here at CoesterVMS. Our goal is to create a “CoesterMer” experience that is unmatched for your company, your borrowers, and your realtors. We are excited to share with you some recent changes that will significantly enhance our offering to your company and create an enhanced customer experience. We have rolled out a wide spectrum of changes which include price reductions, enhancements to our appraisal scheduling process, full roll out of our 2-0-0 program, and turn time reductions.
Here at CoesterVMS we understand the process of securing a mortgage and property is stressful enough, and the appraisal should not add to the stress or frustration. This is particularly true in today’s hyper-competitive and increasingly automated lending environment. The homeowner, buyer, or realtor typically just want to get in their home or get the loan done as soon as possible, and the appraisal is one of many things that need to get done during this process. Here at CoesterVMS we believe that the AMC should enhance the overall experience, not cause delays or additional problems.
To solve this problem CoesterVMS has developed the CoesterMER Service 2-0-0 (Two-Zero-Zero) Guarantee. Essentially 2-0-0 is a guarantee program that covers the main problems that usually cause the appraisal process to be long-winded and frustrating. Let me share with you the three main aspects of the excellent CoesterMer service 2-0-0 Guarantee Program.
2 Hour Appraisal Scheduling:
So, like we’ve already touched on; the most common issue when organizing an appraisal and getting approved for a mortgage is the sheer amount of time it takes. Therefore, with the CoesterVMS 2-0-0 program we guarantee that the point of contact will be contacted within the first 2 hours of the appraisal being entered.
This kick-starts your appraisal service and will get it started on the right foot. By getting the inspection done quickly, you’ll already be much, much closer to getting your deal done. Since rolling out this program we’ve saved an average of two days in scheduling and three days in overall turn time because of scheduling proactively with the borrower or realtor.
CoesterVMS has excellent coverage in the majority of MSA’s, and we can work in harmony with all appraisers and borrowers to schedule a convenient time for all parties. Plus, an effective questionnaire is provided to the borrower so key details can be obtained, such as acreage, well & septic, and complexity.
0 Fee Increases:
Fee increases cause delays and frustration. With the 2-0-0 program, we’ve eliminated the guesswork and engineered the fee increases out of the process. Simply use our online fee calculator that and you will never experience a fee increase again. The online calculator is easy to use, allows us to offer the best prices to your borrowers on every transaction, and we honor 100% of the quotes in full. We do this by pricing the appraisal directly to the complexity of the specific property rather than over-generalizing with an entire state fee. Because of this more accurate method, we are able to offer more competitive pricing.
It is rare that appraisal files have issues that can’t be resolved quickly. However, they escalate from time to time. Escalations can be for a variety of reasons such as difficulty in assignment, repair needed, or a problem in getting the file turned in on time. CoesterVMS recognizes this and the need for customer service at these critical moments. A part of our guarantee is that you will have a quick an immediate resolution to any problem that occurs during the lending process. We have specialized staff that has been qualified to the highest level to ensure all escalations are handled quickly and diligently. Now, if CoesterVMS fails to meet their SLA or provide real-time communication regarding any delays, they will immediately offer a full and complete refund to the borrower.
Fee Schedule Update:
We have also recently updated our fee schedule and it includes discount pricing, in various states. Please click here to review our most recent pricing adjustment. We want to offer our clients the best fees possible, while also ensuring we’re in compliance with state regulations and pay our appraisers a fair fee. With our updated fee schedule and fee calculator our customers never have to experience a costly fee increase that comes directly out of their pockets or overpay for an appraisal that should cost less.
Sometimes it can be tricky to know who to contact at a company to help resolve an outstanding issue or to get an answer to your question. Therefore, a few months ago we launched our Solutions Department. If you have any questions about a file, need help in any way, or would like more information about CoesterVMS. Please e-mail soutions@Coestervms.com and we will get back to you right away.
Over the next few weeks we will be rolling out a chat function for our scheduling desk. This chat function will enable real-time scheduling with the appraiser, CVMS, and your borrower or relator. We think this will be the way it’s done and are excited about it.
Transparency is a big part of what we do and we are putting together enhanced scorecards that will enable us to show you exactly what we are doing, how we are doing it, and how we are delivering on our CoesterMer Service promise. Look out for calls from me or my team to go over these with you.
As we go into 2018 we are ready to support our customers with the best possible product offering, price, and service as possible.
Look forward to having a great year with you!
Brian C. Coester
Founder and Chief Executive Officer