02 May The Bibel Team: The NEO Difference
Eric: Hey everyone. Eric Bibel with the Bibel Team at NEO Home Loans. And today I am joined with…
Brad: My name’s Brad Soll with the Bibel Team here at NEO Home Loans, how are you doing Eric?
Eric: I’m great, Brad, how about yourself?
Brad: I am doing well doing well. Good to be here.
Eric: Likewise, man. Thank you for being here as well.
Eric: And today, you know, we’re getting a ton of questions around NEO. What is NEO and what is NEO all about?
Brad: What are we? Who are we, what do we do? Well, you know, that’s a great question. At NEO, what we are all about is, I think we want to really change the industry. We want to change the perception of our clients and the experience that they have during the process of home buying.
Eric: And how is that ultimately achieved? What are we looking at? What is NEO doing really in the message in which they’re delivering to help clients experience that?
Brad: You know, I think one of the things that I like to convey to my clients is that we truly feel that our responsibility starts after the loan closes. There are a lot of mortgage companies, a lot out of lenders out there that really just click a button, lock a loan, and move on to the next. But we truly value our clients. And we think that they deserve more out of their lenders, out of their originators and their companies. And so what we try to do is, we educate. We want to really look at the bigger picture or the bigger goal and make sure that we are hitting those milestones so that we can achieve that larger goal. If it’s purchasing multiple investment properties, let’s draw that roadmap. You know, step one, step two. And ultimately we want to grow the wealth of our clients. We want to have their money make money.
Eric: That’s amazing. And thank you for sharing. But that brings up a great point, Brad. So, you know, so many mortgage companies exist and, you know, you mention point button, click, lock, move on. Simple as that. And so how is NEO really advocating and working to ensure that one, we’re present with the client, as you said, most important role is after the loan closes, and how are we staying engaged? You know, I’ve heard something about a client success manager.
Brad: Ah, yeah. You’re bringing that up.
Eric: Talk me through that.
Brad: Took the words right out of my mouth. Well, one of the really cool and great and differences that we have is we have actually created a position in our company called the client success manager. And the client success manager takes care of our clients on the back end, after they close their loan. His or her sole responsibility is to check in on our clients, making sure that they are in the right mortgage at the right time, every time. On top of that, it may be quarterly, bi-annually or annually depending on the client’s needs. They perform a financial review and make sure that the goal they set out to achieve, they’re still working towards it, and we’re still providing what we need to provide for them to accomplish that goal.
Eric: Oh, that’s amazing. So it’s basically like a client concierge.
Brad: It’s exactly what it is. Yes. It is, minus the movie tickets or you know, a limousine. Yeah. But maybe we even have that too. You know, it’s fairly new.
Eric: I don’t want to start giving away the house here.
Brad: Okay. Right. We’ll back up.
Eric: Well that sounds amazing, Brad. So, you know, after the loan closes, so many mortgage companies, as you were mentioning, they kind of just go away and poke their heads up up when rates do something.
Brad: If they poke their heads up. You know, usually, from what I understand, they just wait for the phone calls to come back. You know, when the rates dip, they get their phone calls, they go back to business.
Eric: So then the client success manager is effectively proactively engaging with the client to ensure that whatever maybe happening, even if it isn’t for a refinance or a potential different mortgage mortgage strategy, NEO is in constant contact with the client to ensure that those goals are being achieved and met throughout the life of the loan.
Brad: 100%, 100%. Yes, absolutely.
Eric: Well, that sounds phenomenal. So, that being one component, what is NEO doing on the upfront experience? You know, again, as we’ll say multiple times throughout this, there are so many other mortgage companies out there. Now you can point a button, click a button, and the rest is done. What is NEO doing upfront to really help engage and experience success with our clients?
Brad: Yeah, that’s a great question. And you know, one of the many things that we are doing to really put and position our clients to win that offer and to get that offer accepted is that we have a strategy. One of which is Bulletproof buyer. Bulletproof buyer, our system, is that we will fully underwrite our clients prior to them making an offer. You know, when making an offer, traditionally we get pre-approved by our lender. And then the lender offers a pre-approval letter with the offer. And then, you know, amongst the sea right now of all the other offers, we hope that ours stands out and gets accepted.
Well, what we are doing is, we are putting our application, our client’s application through the entire underwriting process. In that way, when they make the offer, it’s not a pre-approval letter, it’s actually that we are approved for the loan. And, you know, coming back to the clicking button, at this point, we can then just type in the address, send it to underwriting one more time for the final sign off, making sure that the numbers fit, and we are good to go. Therefore we can actually reduce our contingencies or even eliminate them in instances to make us more competitive.
Eric: Oh, that’s amazing. You know, and especially in a market like we’re seeing now where inventory is so suppressed demand is so high, being able to have a client’s offer stand out amongst the crowd is going to be crucial in helping that client achieve. So, financial freedom, I’ve heard you bring up a few times throughout our conversation. What is NEO really doing on the financial freedom side and how are they navigating through it with the clients?
Brad: Great question. So financial freedom is different for every client, but what we mean by financial freedom is, we don’t just pedal debt. We really understand, and furthermore educate and inform our client as to how debt is functioning. And then we use that to our advantage so that we can then ultimately achieve financial freedom, whether that’s paying off the mortgage completely so they own the home a hundred percent, or have multiple investment properties that have renters in there covering that liability. But we are here to educate, and I think that’s sort of what we’re going for for financial freedom is understanding how those numbers work, how debt is functioning, and how we can use that to our advantage.
Eric: That’s amazing. You know, I don’t know really any other mortgage company that that’s looking at it from that angle or taking that stance around, you know, how we can get you out of debt as opposed to put you in more debt.
Brad: Right? Yeah. It could almost seem counterintuitive. But you know, we truly believe that this is our responsibility. You know, this is the responsibility of all lenders in this country. And I don’t think that it’s being done exactly like that. And that’s why we’re here to change the game.
Eric: That’s exciting. And again, thank you so much for sharing all that insight with us, Brad. We would love to show what NEO can do for you. Please reach out to us today.