As a broker, one of the most important things to establish
is a good relationship with mortgage lenders. The relationship between broker
and lender can mean the difference between a smooth, speedy loan process and
one that drags on with obstacles to overcome.
Most brokers establish relationships with many wholesale
mortgage lenders because one simply cannot provide all of the necessary lending
needs. Buyers look for brokers who can show that they have positive relationships
with lenders. Any adjustments to the terms of the loan require a strong bond between
the broker, lender, and borrower.
So what can a broker do to maintain a positive broker-lender
relationship? Here are some tips:
Be prepared. You
need to be familiar with all lender guidelines in order to determine the best
lending program for the borrower. You also need to be able to make sure that
the loan fits the lender’s conditions.
Have control of the loan
process. Your goal should be to submit an acceptable loan package and
ultimately close the loan. Constant communication is necessary so that you know
what is going on during the entire loan process.
Take advantage of
technology. Being technology-savvy allows you to submit loan applications
online. Brokers can also check the status of loans on the web as well as check
loan conditions.
Be aware of your
work. Accuracy and completion of loan submissions will help to ensure a
smooth approval.
The loan process requires effort from all parties involved.
The reality is that everyone is paid on loans that are closed. It’s the
mortgage broker’s job to represent a loan package that shows that a lot of effort
and expertise was put into the process.
Struggling to find buyers that qualify? RealTAG gives you
the real estate content that drives consumers to your site, and gives you an
inside look at their financial situation. Close more real estate deals and
generate qualified leads by contacting RealTAG
today!
