Why Working with a Top-Rated Mortgage Lender Benefits Your Clients
One of the biggest advantages independent mortgage brokers have over retail loan officers and banks is the freedom to shop multiple lenders’ loan products to fit their client’s needs.
However, the ability to work with any lender doesn’t mean you should work with just any lender.
As a mortgage broker, the right mortgage lender acts as a vital business partner, funding the loans that make your buyers’ dreams come true and helps grow your business.
Here’s how teaming up with a top-rated mortgage lender benefits you and your clients:
Technology
The technology a lender offers the broker directly affects the level of experience they’re able to provide a borrower. Top lenders enable you to offer online applications, virtual document gathering, digital closings, and other buyer conveniences without footing the bill for a staff of developers. With the advantage of innovative mortgage tech, brokers can adapt to ever-changing schedules and circumstances while still providing a digital client experience that keeps them coming back.
Service
The skill and efficiency of your mortgage lender’s production staff affects your ability to communicate effectively and efficiently with your client. This is where top mortgage lenders truly stand out from the rest of the pack. They offer the level of transparency and service you need to set accurate expectations with your clients and help them progress toward the purchase of their home.
Moreover, features like responsive operations support and knowledgeable account executives can play a major role in your success as quickly cleared conditions could be the key difference between approval, delay, or denial for your buyer.
Speed
Top mortgage lenders pride themselves on speed. They understand the difference a single day can make when it’s closing time, and develop internal processes and workflows to ensure there are no delays that lead to a lost loan.
Buyers are making a major decision — with their finances and lives — and they’re trusting you to guide them through it. Working with a lender that fails to prioritize speed could cause you to let your clients down through no fault of your own.
Loan Product Offerings
With lenders offering a wide range of loan products, one of the most important services you can offer is matching them to a program that best fits their needs. One size doesn’t fit all when it comes to mortgage loans, and if there’s a lower interest rate or monthly payment available for your client, you want to be able to offer it. Partnering with a lender with limited products could mean lost business for you.
Expertise
While you create business partnerships with mortgage lenders, you also collaborate in real-time with the lender’s employees.
With this being the case, there are a few questions you’ll want to ask yourself:
Are they hiring the right people?
Are they always available to talk through questions or concerns?
Are they committed to investing in those people with training and additional opportunities to advance their mortgage knowledge?
These people-centric characteristics may not seem relevant on the surface, but they’ll ultimately affect your ability to offer consistently exceptional service for your clients.
No mortgage broker is an island — there are just too many moving pieces, changing laws, and situational variables for that. Partnering with a top-rated mortgage lender that’s invested in their staff – and a staff that’s invested in you – means you’ll evolve as the industry does. You can trust that they’ll be armed with the knowledge and skills they need to get the job done and the loan closed.
The mortgage industry is truly a team sport—the performance of your mortgage lender can be the key to victory or the reason for defeat. Now that you know some of the many benefits a top-rated mortgage lender provides for your clients and your business, you are ready to find the right partner for you!
Are you ready to jump-start your career in the mortgage industry? Our team at BeAMortgageBroker.com is here to help you every step of the way.