1. COPYRIGHT Wachovia CONFIDENTIAL Needs-Based Selling Presented By: Mark Butler February 9, 2007

2. Successful Steps to Needs-Based Selling Build rapport Probe/Listen Identify borrowers needs Offer Solutions Overcome Objections Gain Commitment

3. Build Rapport Make a personal connection with your borrower - Learn borrower’s name - and use it - Engage borrower in conversation – earn trust and get beyond rate - Establish professional setting – Introduce yourself as consultant - Identify borrower’s reason for making contact – purchase or refinance

4. Probe / Listen ASK questions and LISTEN to responses - Does the borrower have any children? - Does the borrower have existing funds and assets? - If purchase, does borrower intend to occupy as primary residence? - How long does borrower intend to occupy residence? - Is borrower self-employed? - Is borrower “credit challenged”? - Is borrower a first-time home buyer or move-up buyer?

5. Identify Borrower’s Needs What does borrower need from loan? - Is borrower looking for additional cash flow? - Is borrower trying to reduce debt? - Is borrower needing home improvements? - Is borrower looking for the lowest possible monthly payment? - Is borrower concerned about knowing exact monthly payments? - Does borrower need to save for children’s college and/or retirement?

6. Offer Solutions Creatively position Features & Benefits of products toward borrowers needs - Low monthly payment based on minimum payment factor - Cash out options to pay off debts, make home improvements, etc. - Pay option products which offer borrower the ability to choose monthly - Fixed & Adjustable rate products - Ability to identify actual monthly payments on Fixed and Adjustable - Ability to switch from adjustable to fixed without refinancing

7. Overcome Objections Ask further questions and re- address benefits - Does product solve issues? - Do benefits address previously stated customer needs and wants? - What are exact concerns customer has regarding proposed solution(s)? - What recommendations does borrower have toward solution(s)?

8. Gain Commitment Close the deal - When possible State, don’t ask - Take “No” out of the equation “How does that solution sound to you?” “If I can put this solution together for you, how quickly can we get started on your application?” “This is a great program for your needs, please let me know when you are ready to complete this application… I am ready when you are.” “Given that we are able to offer you a solution that will lower your monthly payments, provide you with monthly cash flow, and allow you to put money away for your children’s college, it makes sense to move forward wouldn’t you agree.” “Is there anything about this solution that would prevent you from moving forward with the application process? It will only take me about 15 minutes to complete?”

9. COPYRIGHT Wachovia CONFIDENTIAL