northstarhomelending.com/aboutus.aspx -
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Published on: 3/21/2008
Last Visited: 3/21/2008
"I have a different philosophy than a lot of my competitors do," says Bruce Rosenblat, president of North Star Home Lending, which prides itself on its personal approach.
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BINGHAM FARMS -- Bruce Rosenblat wants his clients to think of him just like they do of their doctors, dentists and lawyers -- a trusted, reliable partner in for the duration.
But instead of medical, dental or legal advice, Rosenblat and his firm, North Star Home Lending, want to provide long-term mortgage guidance.
"I have a different philosophy than a lot of my competitors do," said Rosenblat, who became president of North Star earlier this year."Around here, our objective is to be the pre-eminent relationship-based mortgage lender."
Dan Calcaterra, president of Michigan Mortgage Lenders Association, says mortgage companies have always focused on developing relationships with their clients, but few actually succeed as Rosenblat proposes to do.
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But Rosenblat says he differentiates his approach from competitors that treat loans as one-time transactions and focus on rates and terms while losing sight of the customer.
"I'm not going out advertising below-market interest rates and monthly specials," he said."I'm not going out with the idea of spending a million dollars in advertising and see what sticks."
Rosenblat has his firm focus on five key areas -- asking clients appropriate questions so they can choose the correct loan; being accessible and friendly; having a company representative attend all closings; creating a client database that includes birthdates, anniversaries and children's names; and maintaining a relationship after the closing via phone calls, mailings and e-mail.These approaches will help North Star keep in touch with customers and perform periodic mortgage checkups if a client needs money to pay for college or if rates make refinancing a better option for a particular person, he said.
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"They came out to my work with the paperwork and I got a better rate, lower payments and zero up-front costs," said Simoncini, who has closed four loans with Rosenblat.
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Rosenblat said he has built similar relationships with clients during his 22 years in the business, including stints with Fifth Third Bank and other loan firms.And he expects this philosophy will work at North Star Home Lending and help the company add more than 50 loan officers and operate 10 locations in the next five years.
"I'm never going to spend a million dollars a month doing advertising, but I am going to spend the money I need to wow our customers," he said.
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