Complaint Handling Scripts
Complaint Handling Scripts for Mortgage Brokers
In the mortgage industry, a missed deadline or an expired rate lock can cost a client thousands of dollars and kill a $10,000 commission. These scripts are designed to help you de-escalate high-stress situations, maintain your professional reputation, and keep your referrals coming in even when things go wrong.
Expired Rate Lock Complaint
Use this when a borrower is angry because their interest rate lock expired before the loan could close.
I completely understand why you are frustrated that the rate lock has expired, especially with how the market has moved recently. My goal is to get you the most affordable monthly payment possible, so I am already looking into lock extension options with the lender. While I can't control the market rates, I am reviewing our timeline to see how we can minimize any additional costs for you. Let's look at the current numbers together and see if a rate buy-down makes sense to keep your payment where you need it.
Tips for this scenario
- -Avoid blaming the underwriter directly as it makes you look like you don't have control of the process.
- -Focus on the solution like a lender credit or a lock extension fee waiver.
Common Mistakes to Avoid
!Promising a specific closing date before you have the 'Clear to Close' from the underwriter.
!Ignoring phone calls when there is bad news or a delay in the file.
!Blaming the lender or underwriter too harshly, which makes you look like a middleman with no power.
!Failing to document verbal complaints in your CRM or Loan Origination System (LOS).
!Arguing with Realtors in front of the client, which destroys trust in the whole professional team.
