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I have the same concern, and resolved it by putting this boilerplate in all my quotes:
Please be aware that lenders routinely change fixed rate pricing two to four times each day. This means that by the time you read any quote that is more than four hours old it is very possibly already out of date. You can find my most current pricing and a more complete list of possible rate, fee and program choices at (my web site address).
Tom O'Leary
Dan,
If you delete a quote, it will disappear from the borrower's view without notifying them. However, I really like your suggestion and will see about adding it to our list of features.
Thanks,
Nate
I state the same:
Keep in mind that in this volatile market it is not uncommon to have 3 - 4 rate changes per day. Please contact me directly to confirm your quote or you can search more of our rates online at (website) 24 hours a day, 7 days a week. The quote below was given based on current market rates as of quote submission. Please take note that mortgage rates change on a daily basis so in order to get an accurate quote for a future date, you will need to search rates on our website at (website), e-mail us, or contact us toll free at (phone number) for the most recent rates.
Nate-
Here's another thought. Not only would I like to have the ability to autodelete quotes more than a selected period of time (say 72 hours), but I would like to get an e-mail telling me that it's happened WITH A LINK TO THE ORIGINAL REQUEST. That way I can requote the request with current market pricing. It's very difficult to go back to old requests right now and revise them when the market improves.
It will be interesting to see how long experience will show it takes from the initial request for a borrower to actually select a lender. I suspect it will be weeks, not days, and keeping my name in front of them with fresh information may count for more in the long run than does having the best deal the first day they post.
Tom O'Leary
While I'm on this track, is there any thought about an autodelete for requests- say thirty days before a confirming e-mail goes out asking them to confirm the original request. Otherwise we will have a host of zombie requests out there.
Tom O'Leary
Lender rating
Since January 2009
A great feature would be the ability to send a note without giving a quote. I see so many requests that I would love to respond to, explaining why they have not recieved any input, but there is no current way to do so without providing a quote.
Lender rating
Since August 2009
Good point. I see many requests out there who have received no quotes. This may be due to an error that the borrower made when entering his or her information, such as someone indicating their monthly income accidentally as their annual income. Huge difference in DTI there and these people may not have noticed the error and will most likely not be quoted at all.
Ok
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"Delete Quote" Feature
Dan Sullivan, "Dan Sullivan"
Mortgage Lender
Lender rating
5.0/5.0
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One of my concerns about the current quote system is that I suspect we will hear from clients long after the original quote was made and the market has changed substantially.
I notice that there is a "Delete Quote" button. I am curious how that works - Maybe I am being picky, but I would prefer a "Withdraw Quote" option that communicates to the customer that the market has changed and those terms are no longer available.
If I delete a quote, what happens from the customer side of things? Are they notified, or does it just disappear with no explanation?
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