Rate Workshop Rate ladders, QMI payment estimator & pricing tools
| Rate | Cost (pts) | Cost ($) | FHA PITI | VA PITI |
|---|---|---|---|---|
| 4.990% | 8.747 6% limit FHA limits seller-paid closing costs to 6%. The additional 2.747 pts would need to be covered through a forward commitment or from the cost center surplus. | $33,763 | ||
| 5.125% | 8.407 6% limit FHA limits seller-paid closing costs to 6%. The additional 2.407 pts would need to be covered through a forward commitment or from the cost center surplus. | $32,451 | ||
| 5.250% | 6.687 6% limit FHA limits seller-paid closing costs to 6%. The additional 0.687 pts would need to be covered through a forward commitment or from the cost center surplus. | $25,812 | ||
| 5.375% | 6.150 6% limit FHA limits seller-paid closing costs to 6%. The additional 0.150 pts would need to be covered through a forward commitment or from the cost center surplus. | $23,739 | ||
| 5.500% | 5.581 | $21,543 | ||
| 5.625% | 5.350 | $20,651 | ||
| 5.750% | 4.089 | $15,784 | ||
| 5.875% | 3.570 | $13,780 | ||
| 5.990% | 3.100 | $11,966 |
| Rate | Cost (pts) | Cost ($) | FHA PITI | VA PITI |
|---|---|---|---|---|
| 3.500% | 9.576 6% limit FHA limits seller-paid closing costs to 6%. The additional 3.576 pts would need to be covered through a forward commitment or from the cost center surplus. | $36,963 | ||
| 3.625% | 9.314 6% limit FHA limits seller-paid closing costs to 6%. The additional 3.314 pts would need to be covered through a forward commitment or from the cost center surplus. | $35,952 | ||
| 3.750% | 8.304 6% limit FHA limits seller-paid closing costs to 6%. The additional 2.304 pts would need to be covered through a forward commitment or from the cost center surplus. | $32,053 | ||
| 3.875% | 7.892 6% limit FHA limits seller-paid closing costs to 6%. The additional 1.892 pts would need to be covered through a forward commitment or from the cost center surplus. | $30,463 | ||
| 3.990% | 7.652 6% limit FHA limits seller-paid closing costs to 6%. The additional 1.652 pts would need to be covered through a forward commitment or from the cost center surplus. | $29,537 | ||
| 4.000% | 7.498 6% limit FHA limits seller-paid closing costs to 6%. The additional 1.498 pts would need to be covered through a forward commitment or from the cost center surplus. | $28,942 | ||
| 4.125% | 7.235 6% limit FHA limits seller-paid closing costs to 6%. The additional 1.235 pts would need to be covered through a forward commitment or from the cost center surplus. | $27,927 | ||
| 4.250% | 6.357 6% limit FHA limits seller-paid closing costs to 6%. The additional 0.357 pts would need to be covered through a forward commitment or from the cost center surplus. | $24,538 | ||
| 4.375% | 5.857 | $22,608 | ||
| 4.500% | 5.447 | $21,025 | ||
| 4.625% | 5.263 | $20,315 | ||
| 4.750% | 4.583 | $17,690 | ||
| 4.875% | 4.146 | $16,004 | ||
| 4.990% | 4.066 | $15,695 | ||
| 5.000% | 3.877 | $14,965 | ||
| 5.125% | 3.739 | $14,433 | ||
| 5.250% | 2.778 | $10,723 | ||
| 5.375% | 2.497 | $9,638 | ||
| 5.500% | 2.316 | $8,940 | ||
| 5.625% | 2.141 | $8,264 | ||
| 5.750% | 2.863 | $11,051 | ||
| 5.875% | 2.350 | $9,071 | ||
| 6.000% | 1.843 | $7,114 | ||
| 6.125% | 2.018 | $7,789 |
| Rate | Cost (pts) | Cost ($) | PITI |
|---|---|---|---|
| 4.750% | 8.392 | $31,890 | |
| 4.875% | 7.353 | $27,941 | |
| 4.990% | 6.607 | $25,107 | |
| 5.000% | 6.602 | $25,088 | |
| 5.125% | 5.897 | $22,409 | |
| 5.250% | 4.648 | $17,662 | |
| 5.375% | 3.955 | $15,029 | |
| 5.500% | 3.228 | $12,266 | |
| 5.625% | 2.660 | $10,108 | |
| 5.750% | 1.999 | $7,596 | |
| 5.875% | 1.446 | $5,495 | |
| 5.990% | 0.724 | $2,751 | |
| 6.000% | 0.719 | $2,732 | |
| 6.125% | 0.149 | $566 |
| Rate | Cost (pts) | Cost ($) | PITI |
|---|---|---|---|
| 4.750% | 8.517 | $27,254 | |
| 4.875% | 7.478 | $23,930 | |
| 4.990% | 6.732 | $21,542 | |
| 5.000% | 6.727 | $21,526 | |
| 5.125% | 6.022 | $19,270 | |
| 5.250% | 4.773 | $15,274 | |
| 5.375% | 4.080 | $13,056 | |
| 5.500% | 3.353 | $10,730 | |
| 5.625% | 2.785 | $8,912 | |
| 5.750% | 2.124 | $6,797 | |
| 5.875% | 1.571 | $5,027 | |
| 5.990% | 0.849 | $2,717 | |
| 6.000% | 0.844 | $2,701 | |
| 6.125% | 0.274 | $877 |
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Pricing refreshed daily via Nano Chrome Extension • $400K sales price • 820+ FICO • Dark window 6:30–10:30 AM ET
New Buyer Playbook Point of sale → Pre-approval → Contract execution → Hope Program
Guiding Principle: Speed to Contract
A buyer should never leave a community, end a phone call, or finish a weekend without a pre-approval letter in hand if they are a viable candidate. The risk of losing a buyer to a competitor while waiting for document verification far outweighs the risk of issuing an approval that later requires conditions to be met.
Pre-Approval Standard — Stated Income, Stated Assets
NorthStar issues pre-approval letters based on stated income (buyer's verbal/application representation), stated assets (buyer's verbal/application representation), and verified credit (credit pull). This replaces the prior practice of requiring verified income documentation (pay stubs, W-2s) before issuing the letter. The letter includes all outstanding conditions — specific items the buyer must provide before the approval becomes a full underwriting approval.
Turnaround Targets
- Floor pop / in-community buyer: Pre-approval letter issued within 30–45 minutes of the On-Site Mortgage Advisor's initial conversation. If documentation is not immediately available, the letter is issued on stated information with conditions noted.
- Phone / application buyer: Pre-approval letter issued within 24 hours of receiving a completed application, regardless of whether all supporting documentation has been uploaded.
Pre-Approval Letter Content
NorthStar's builder team pre-approval letter (via the NorthStar portal) includes:
- Approval amount and loan program
- Target cash to close and target monthly payment
- Whether the buyer has a home to sell (contingency flag)
- All outstanding conditions listed individually — specific items like "borrower to provide offer letter for new employment" or "borrower to pay off Visa ending in 4521 to achieve 621+ credit score" (not generic boilerplate)
- Line 5 notation of the buyer's elected incentive (rate special, money-your-way amount, or combination)
A cover letter accompanies the pre-approval with full detail from the On-Site Mortgage Advisor's initial conversation — income sources, asset summary, rate/payment/cash-to-close discussion notes, and any limiting factors.
Incentive Election at Contract
Each buyer must choose their incentive structure at contract. Whether rate special, money-your-way toward closing costs, or money-your-way toward options/upgrades — the election is documented in the original contract at signing. Buyers cannot combine a rate special with a full money-your-way allocation unless the Sales Goal email explicitly permits it. The On-Site Mortgage Advisor documents the buyer's elected incentive on Line 5 of the pre-approval letter, which becomes part of the contract file.
Contract Execution Sequence
- Buyer visits community or contacts the On-Site Mortgage Advisor.
- The On-Site Mortgage Advisor conducts initial qualifying conversation (income, assets, credit, rate/payment/cash-to-close).
- The On-Site Mortgage Advisor issues pre-approval letter (stated basis with conditions).
- Sales agent writes the contract. The Sales Manager does not execute until the pre-approval letter is in hand (verbal confirmation from the On-Site Mortgage Advisor is acceptable to begin drafting).
- The Sales Manager reviews the contract against the Sales Goal email, the pre-approval letter's Line 5 incentive notation, and any special stipulations.
- Contract is executed. Buyer has the contractual contingency period to provide remaining documentation.
- The Inside Mortgage Advisor takes over condition tracking and document collection from the buyer.
Hope Program — Credit Repair Pipeline
When a buyer meets two of the three qualification legs (income, assets, credit) but the third is attainable within a defined timeframe, NorthStar may issue a conditional pre-approval.
For spec homes: A conditional approval may be written with the Sales Manager's awareness. The pre-approval letter's condition detail gives the Sales Manager full visibility to assess the risk of taking the home off market.
For pre-sales (Hope Program): For buyers who need 3–6 months of credit repair or financial preparation, NorthStar and the builder may reserve a pre-sale lot under a hope contract. The buyer commits earnest money; NorthStar provides a detailed credit repair plan and monitors progress. If the buyer becomes ready before the lot enters the build queue, they proceed. If not, they are released and the lot returns to inventory. This is a marketing and pipeline-building strategy, not a standard sales path. The Sales Manager approves all hope reservations.
Pipeline Management Contract through clear-to-close: milestones, rate locks, conditions, appraisals
Construction Milestones as Pipeline Triggers
The builder's construction schedule produces four key projected closing dates, each refining the timeline:
| Milestone | Timeline Significance | Action Triggered |
|---|---|---|
| At Contract | Estimate: ~5.5–7 months for a pre-sale | Pre-approval issued; pipeline entered |
| Lumber Drop | ~120 days to close — first reliable projection | Hedging window opens; forward commitment evaluated |
| Drywall | Schedule recalculates all downstream dates | Pipeline projections updated |
| Cabinets Installed | 45–60 days to close — firm date set | Rate lock trigger + appraisal order + closing date confirmation |
The revised close date in the builder's project management system is updated weekly during the sales meeting. Once a date appears in the "Revised Close Date" field, NorthStar may treat it as actionable for lock timing and pipeline management.
Rate Lock Trigger: Cabinets Installed
- Construction manager reports cabinets installed to sales team and the Sales Manager / Builder Closing Coordinator.
- Within one week of cabinets, the sales team, Sales Manager, and Builder Closing Coordinator confirm a closing date with the buyer.
- The Builder Closing Coordinator communicates the confirmed closing date to the On-Site Mortgage Advisor.
- The On-Site Mortgage Advisor locks the rate on a 60-day lock (providing approximately a two-week buffer beyond the projected close).
- Once locked, the On-Site Mortgage Advisor requests a contract amendment to clarify the seller-paid closing cost amount tied to the locked rate.
Rate Lock Extensions — Cost Responsibility
| Loan Type | Extension Cost Absorbed By | Process |
|---|---|---|
| Rate Special (4.99%, 5.50%, etc.) | Builder | NorthStar communicates the cost of any required extension to the Sales Manager for approval. |
| Non-Special (money-your-way, buyer's own rate) | Buyer | Per contract Section 5.1. The On-Site Mortgage Advisor communicates this at time of lock. One-off exceptions may be escalated to the Sales Manager. |
Appraisal Management
Appraisals are ordered at cabinets installed, coordinated with sales input. Before ordering, the Loan Partner confirms with the Sales Manager / Builder Closing Coordinator whether any pending closings in the same community should close first to establish favorable comps. This prevents ordering an appraisal before a higher-value comp has recorded.
Low Appraisal Protocol
- NorthStar reviews the appraisal for errors or missing comps and files a dispute if warranted.
- If the dispute does not resolve the gap, the Sales Manager and NorthStar discuss options: price reduction, buyer bringing additional funds, or alternative comp strategy.
- All low appraisals and their resolution are tracked on the dashboard and reviewed in the monthly executive summary.
Condition Tracking & Document Collection
After contract execution, the Inside Mortgage Advisor takes ownership of all borrower-facing condition tracking. Communication with buyers on outstanding items is constant — issues are communicated to the team immediately as they arise, not held for meetings. Any buyer non-responsiveness triggers the escalation protocol (see Escalation section).
Buyer Closing Window
Once the builder issues a Certificate of Occupancy (CO) and turns the home over to the sales agent, the buyer has two weeks from CO to schedule and complete closing. After two weeks, carrying costs begin accruing to the buyer. This tightens the previous informal practice of allowing up to 30 days.
Rate Special Program Designation, pricing, hedging, cost responsibility, 6% threshold
Rate Special Designation
The Sales Manager determines which homes and communities qualify for rate special incentives (e.g., 4.99%, 5.50%). At the beginning of each month, the Sales Manager distributes a Sales Goal email to the NorthStar mortgage team, all on-site sales agents, and the builder leadership team. The email lists, by community and lot number, which homes are eligible for rate specials and what incentives are available.
Pricing Visibility
NorthStar provides the builder with a live pricing dashboard. The dashboard displays real-time cost of rate specials (updated daily by noon), unlocked loan exposure by lot and community, locked vs. unlocked pipeline status, and forward cost projections for all active rate specials.
Rate special pricing is live except between approximately 6:30 AM and 10:30 AM Eastern, when markets are dark. Outside that window, the builder has continuous visibility into what any rate special will cost on a given day.
Hedging & Rate Protection Strategy
For rate specials, NorthStar treats the builder's pipeline as a forward commitment. When the Sales Manager designates a rate on a specific lot, NorthStar hedges approximately 80% of the expected pipeline to protect against adverse market movement:
- The cost quoted on the day the Sales Manager makes the rate decision is the cost the builder should budget. There is no market slippage.
- If rates improve, the hedge has already been purchased — the builder does not benefit from improvements on hedged loans. Gains are netted across the servicing portfolio and reflected in the monthly P&L.
- If rates worsen, the hedge absorbs the loss. The builder's cost does not increase beyond the quoted figure.
The preferred commitment window is 120 days or less, aligned to the lumber-drop construction milestone. Beyond 120 days, hedging costs increase significantly and true protection instruments become less available. For pre-sales where the gap between contract and lumber drop exceeds 120 days, NorthStar and the builder will evaluate on a case-by-case basis whether to hedge early (at approximately one additional point of cost) or float through the gap.
6% Seller-Paid Closing Cost Threshold
Closing Process & the 8-Day Campaign Borrower communication escalation, clear-to-close, e-signing, post-close surveys
8-Day Closing Campaign
At 8 business days before the confirmed closing date, if the borrower's file is not clear to close, NorthStar initiates an escalating communication campaign:
| Countdown | Action | Owner |
|---|---|---|
| 8 days out | Email to borrower listing all outstanding conditions. Simultaneous phone call from the Loan Partner to confirm the borrower received and understands the email. | Loan Partner |
| 5 days out | Follow-up email with firmer language. Second phone call. | Loan Partner |
| 3 days out | Final notice — if conditions are not met, the closing date will be moved. The On-Site Mortgage Advisor calls the buyer personally as a softer follow-up to reinforce urgency while maintaining relationship quality. | On-Site Mortgage Advisor |
The messaging is intentionally direct. The goal is to prevent the common scenario where documents arrive 1–2 days before closing, forcing a rushed and poor-quality closing experience.
Clear-to-Close Target
All borrower-controllable conditions should be cleared by 3 business days prior to closing. Third-party items (appraisal, title, CO, VOE) are tracked separately and are not part of the borrower's 8-day campaign.
E-Signing
Borrowers are encouraged to complete e-signing prior to the closing table — ideally the morning of closing. The Loan Partner's email campaign includes highlighted instructions for e-signing. If a borrower arrives at the closing table without having e-signed, it adds significant time and friction to the closing experience.
Post-Closing Surveys
The builder conducts buyer satisfaction surveys after closing. The Sales Manager reviews all surveys mentioning the lender at each sales meeting. NorthStar reviews the same surveys internally. Any negative lender feedback is discussed at the next Friday Level 10 meeting with a root cause and corrective action identified.
Weekly Operating Rhythm Level 10 pipeline meeting, sales meeting, data reconciliation
Friday Level 10 Pipeline Meeting — 9:00 AM
| Element | Detail |
|---|---|
| Attendees | On-Site Mortgage Advisor, Inside Mortgage Advisor, Loan Partner, Builder Closing Coordinator, Sales Manager |
| Format | Structured pipeline review covering every active loan from closing-imminent back through cabinets-installed stage |
Level 10 Agenda
- Scorecard review — Key metrics (see Metrics section)
- Rock review — Major initiatives and projects
- To-do review — Action items from prior week
- IDS — Identify, Discuss, Solve on any pipeline issues
- All attendees are expected weekly. No exceptions.
- This is not the place to deliver news for the first time. Information should be communicated in real time as it occurs. The meeting is for alignment, not revelation.
- If a pipeline issue cannot wait until Friday, communicate it immediately. The meeting consolidates; it does not replace real-time communication.
- Action items are documented via Google Meet summary and distributed to all attendees.
Builder Sales Meeting (Weekly)
NorthStar attendee: On-Site Mortgage Advisor (attendance expected but at the advisor's discretion based on value)
Purpose is rapport building with sales agents, real-time market updates, incentive communication, agent Q&A. Information exchange regarding closings and pipeline is handled at the Friday Level 10; the sales meeting is primarily for relationship and brand building with the field team.
Weekly Data Reconciliation
After the builder's weekly sales meeting (when project management data is updated), NorthStar exports the pipeline data and runs an automated reconciliation using Claude via the Nano MCP integration. This compares the builder's closing dates, sales prices, seller-paid closing costs, and earnest money against NorthStar's loan system data. Any discrepancies are flagged for resolution at the Friday Level 10 meeting.
Monthly Operating Rhythm Executive review, financials, incentive decisions, friction review
Executive Review Meeting
| Element | Detail |
|---|---|
| Attendees | Builder Principal, Sales Manager, On-Site Mortgage Advisor, Financial Analyst (on standby for financial questions) |
| Timing | 3rd or 4th Thursday of the month (after financials have been reconciled, including servicing gains that post mid-month) |
Agenda
- NorthStar Executive Summary — A 5-minute recorded video (screen share of the dashboard) walking through key metrics, outliers, and narrative for the prior month. Distributed to builder leadership 24 hours before the meeting.
- Financial Review — Bullet-point summary in the executive video. Deep-dive only if builder leadership has questions after reviewing the numbers.
- Forward Projection — What NorthStar expects for the coming month: pipeline volume, rate environment, anticipated closings.
- Incentive Decision Support — Rate cost data and pipeline composition to inform the Sales Manager's incentive decisions for the following month.
- Friction Review — Round-table: What caused friction last month? What's a quick fix vs. a bigger project? Are the weekly meetings working? Any SOP adjustments needed?
- Open Items — Follow-up on any outstanding action items from prior months.
Monthly P&L Review
The Financial Analyst prepares the monthly P&L. Financials are typically finalized by the 20th–25th of the following month (servicing gains post mid-month and require reconciliation). The dashboard provides real-time forward P&L projections so the builder does not have to wait for the formal reconciliation to understand their cost position.
Profitability Model
NorthStar's financial model for builder partnerships operates at or near zero margin on rate-special loans. Profitability is driven by three sources:
- Outside business — The On-Site Mortgage Advisor targets 5–10 closings per month from co-op agents, referral partners, and non-builder buyers. These loans close at full margin.
- Money-your-way loans — Builder buyers who elect money-your-way rather than a rate special are originated at standard margin.
- Servicing gains — Spread across the entire book; reflected monthly in the P&L.
Builder Cost-Management Levers
The builder can influence profitability through adjusting the split between rate specials and money-your-way based on market conditions, requiring earnest money increases for non-NorthStar loans (no direct cost to the builder), paying seller closing costs only when buyers use NorthStar, and promoting the partnership advantages to agents to drive capture rate.
Annual Review
An annual in-person gathering focused on team building and strategic alignment — not a performance review. Include all team members from both sides (NorthStar mortgage team, Sales Manager, Builder Closing Coordinator, sales agents, financial analyst, builder principal). The format should be social with a brief state-of-the-union component covering the year's results and the coming year's vision.
Reporting & Systems Dashboard, Power BI, Nano, technology stack, key metrics
NorthStar Dashboard (Replacing Google Sheets)
NorthStar provides each builder partner with a web-based dashboard. The dashboard provides the builder with:
- Real-time rate special pricing — updated daily at noon; visible anytime markets are open
- Locked vs. unlocked pipeline — by lot number, community, and borrower
- Forward cost exposure — total seller-paid closing cost projection on unlocked loans
- Closing forecast — projected closings by month
- Rate lock status and expiration dates
- Credit pull and lead attribution data (trailing 90 days)
- Profit per loan (net of concessions)
- Customer satisfaction scores
- Delayed closings tracker
- Heat map — geographic origin of buyers
- Appraisal status — ordered, received, value vs. contract price
Builder Project Management Access for NorthStar
The builder will grant the NorthStar mortgage team (On-Site Mortgage Advisor, Inside Mortgage Advisor, and Loan Partner) read access to the builder's project management application, specifically the Sales and Closings views. This gives the NorthStar team direct visibility into construction milestones, confirmed and revised closing dates, incentive capture, buyer contingency status, and contract amendments. This eliminates manual translation of information between teams and enables NorthStar to prepare for pipeline meetings with accurate, real-time builder data.
Lot Number Integration
NorthStar will add lot numbers as a required field in the Nano loan operating system for all builder loans. This enables direct cross-referencing between NorthStar's pipeline and the builder's project management data by lot number rather than by address.
Technology Stack
| Tool | Purpose | Users |
|---|---|---|
| NorthStar Dashboard | Live pricing, pipeline, rate lock status, forward exposure, KPIs | Builder leadership, NorthStar mortgage team |
| Builder Project Mgmt | Construction milestones, closing dates, incentive capture, contract data | Sales Manager, Builder Closing Coordinator, agents + NorthStar (read access) |
| NorthStar Portal | Pre-approval letter generation, cover letters, condition tracking | On-Site Mortgage Advisor, Inside Mortgage Advisor |
| Nano (LOS) | Loan origination, processing, underwriting, lot number tracking | NorthStar team |
| Dialpad | Recorded/transcribed calls for coaching and quality | On-Site Mortgage Advisor, Inside Mortgage Advisor |
| GoHighLevel | CRM, nurture campaigns, rate-update automation | NorthStar team |
| Google Meet | Weekly and monthly meetings with auto-summary | All |
| Claude + Nano MCP | Weekly pipeline reconciliation (Power BI export vs. NorthStar LOS) | NorthStar team |
Key Metrics — Dashboard & Level 10 Scorecard
The following metrics are tracked on the NorthStar dashboard and reviewed in the weekly Level 10 and monthly executive summary:
- Total pipeline count (locked and unlocked)
- Rate special loans in pipeline (by rate tier)
- Forward cost exposure on unlocked rate specials
- Leads to contracts ratio
- NorthStar capture rate (% of builder contracts using NorthStar)
- Average profit per loan (net of concessions)
- Customer satisfaction scores (from post-closing surveys)
- Delayed closings count and cause
- Contracts canceled for financing reasons
- Contingent buyers in pipeline
- Appraisal status (ordered, received, value vs. contract)
- Marketing spend (NorthStar + builder rate special advertising)
- Buyer geographic origin (heat map)
- Closing forecast by month
Roles & Responsibilities Who owns what across both organizations
Your NorthStar Mortgage Team
| Role | Assigned Advisor | Contact |
|---|---|---|
| On-Site Mortgage Advisor | Zack | |
| Inside Mortgage Advisor | Christian | |
| Loan Partner | Abby |
On-Site Mortgage Advisor NorthStar
Primary point of contact for all builder buyers from first conversation through pre-approval. Conducts initial qualifying interviews and issues pre-approval letters. Manages rate lock decisions and communicates lock status to the Builder Closing Coordinator and Sales Manager. Attends builder sales meetings (weekly) and Friday Level 10 pipeline meeting. Prepares monthly executive summary (5-minute video walkthrough of the dashboard). Pursues outside business (co-op agents, non-builder referrals) to generate additional revenue — target of 5–10 outside closings per month. Communicates rate lock extension policies clearly to every buyer at time of lock. Manages Dialpad call recordings for coaching and quality review. Operates under a Canopy DBA — positioning as an independent advisor rather than a builder-captive lender.
Inside Mortgage Advisor NorthStar
Takes over from the On-Site Mortgage Advisor after pre-approval to manage document collection and condition tracking. Maintains constant communication with buyers on outstanding items. Communicates any buyer non-responsiveness or issues to the team immediately (not held for meetings). Attends Friday Level 10 pipeline meeting. Supports the On-Site Mortgage Advisor's outside business pipeline. Updates NorthStar's loan operating system (Nano) with lot numbers and pipeline data.
Loan Partner NorthStar
Manages the 8-day-out closing campaign. Coordinates with the Builder Closing Coordinator on confirmed closing dates. Attends Friday Level 10 pipeline meeting. Orders appraisals at the appropriate trigger point (cabinets installed, coordinated with sales to optimize comp timing). Monitors third-party items (appraisal, title, CO) and flags delays.
Sales Manager / Director of Sales Builder
Determines rate special eligibility by community and lot. Distributes monthly Sales Goal email. Reviews and approves all contracts against incentive parameters. Approves exception requests for rate lock extension cost absorption. Approves hope program reservations. Participates in monthly executive review meeting. Manages project management data integrity for the partnership.
Builder Closing Coordinator Builder
Communicates confirmed closing dates to the On-Site Mortgage Advisor once cabinets are installed (within one week of the cabinet milestone). Manages the closing tab in the builder's project management system. Coordinates closing logistics with buyers, attorneys, and NorthStar. Attends Friday Level 10 pipeline meeting.
Marketing & Growth CRM overlay, social media, Google Business, outside business
Social Media Coordination
Both teams will conduct an audit of current social media activity across Instagram, Facebook, LinkedIn, X, and TikTok. Content should promote builder communities, highlight buyer success stories, and build the On-Site Mortgage Advisor's personal brand as a trusted advisor. Reels and short-form video from NorthStar's podcast studio are a priority format.
CRM Overlay
NorthStar's CRM (GoHighLevel) will be evaluated for overlay with the builder's CRM to maximize engagement with all leads who express interest in builder communities — not just those who enter the active pipeline. This includes automated rate-update campaigns for under-contract buyers (reducing inbound calls to the On-Site Mortgage Advisor for market checks) and long-term nurture for leads who are not yet ready to buy.
Google Business Page
The On-Site Mortgage Advisor will establish a Google Business page for the NorthStar office within the builder's sales center. This requires a walkthrough video of the physical space with NorthStar signage in the advisor's office. (Signage to be installed; does not need to be displayed in the main builder lobby.)
Additional Marketing Initiatives
- Newsletter through CRM — Program-of-the-week or rate-update content distributed to the builder's buyer database
- Agent value-add sessions — Quarterly gatherings with builder sales agents focused on how NorthStar supports their success
- Sales meeting content — The On-Site Mortgage Advisor brings a brief market update or buyer insight to each sales meeting
Escalation Protocols Trigger → Contact → Decision-maker → Resolution timeline
Trigger: Rate lock expiration is within 5 business days and closing has not occurred.
First contact: On-Site Mortgage Advisor notifies the Builder Closing Coordinator and Sales Manager.
Decision-maker: Sales Manager (rate-special loans — builder absorbs). Buyer (non-special loans — buyer absorbs, On-Site Mortgage Advisor communicates options).
Resolution: Same day. Extension must be executed before lock expiration.
Trigger: Construction milestone indicates the closing date will move beyond the current rate lock expiration.
First contact: Construction manager → Builder Closing Coordinator → On-Site Mortgage Advisor.
Decision-maker: Sales Manager determines whether to absorb extension cost (rate specials) or communicate to buyer (non-specials).
Resolution: Within 48 hours. Surfaced at next Friday Level 10 if not resolved sooner.
Trigger: Borrower has not responded to the 8-day and 5-day campaigns.
First contact: Loan Partner escalates to the On-Site Mortgage Advisor for personal outreach. On-Site Mortgage Advisor escalates to the on-site sales agent.
Decision-maker: Sales Manager determines whether to move the closing date or hold.
Resolution: Must be resolved by 3 days prior to closing or the closing date moves.
Trigger: A material qualification issue surfaces after the contract is executed (e.g., undisclosed debt, income change, credit event).
First contact: Inside Mortgage Advisor or On-Site Mortgage Advisor notifies the sales agent and Sales Manager immediately.
Decision-maker: Sales Manager determines next steps (buyer remediation, contract termination, Hope Program conversion).
Resolution: 48 hours for initial assessment; ongoing based on nature of the issue.
Trigger: Combined rate buydown cost and seller concessions exceed 6% of the sales price.
First contact: On-Site Mortgage Advisor notifies the Sales Manager immediately.
Decision-maker: Sales Manager and NorthStar determine how to restructure.
Resolution: Before rate lock. Must be identified during pricing/contract review stage, not at closing.
Trigger: Appraisal comes in below contract price.
First contact: Loan Partner notifies the On-Site Mortgage Advisor, who notifies the Sales Manager.
Decision-maker: Sales Manager (price reduction or buyer cash contribution). NorthStar files dispute if warranted.
Resolution: Dispute filed within 48 hours. Resolution within 10 business days or closing date adjustment required.
Action Items From the initial SOP session — July 25, 2025
Document Governance Living document — reviewed monthly, versioned, single source of truth
This SOP is a living document. It will be reviewed at each monthly executive meeting. Any proposed changes are discussed in the monthly meeting and documented as amendments with an effective date. Both parties maintain a copy; the version hosted on the builder's dedicated NorthStar SOP page is the master.
Prepared by: Michael Stallings, Managing Partner — NorthStar Mortgage Advisors
Reviewed by: Builder Principal, Sales Manager
NorthStar Mortgage Advisors Builder Partnership Standard Operating Procedures