#WednesdaysWisdom – 3 Reasons why #BrokersAreBetter! There’s a lot of LO’s out there that do not understand the difference between brokering and being a bank. And more and more Broker’s are sprouting up each day. Today I go over 3 reasons that come to my mind about why Broker’s are better.
I have an awesome community of mortgage professionals called; Sales Talk with Mortgage Pro’s. Feel free to join in on the convo’s and fun! Just the other day in a conversation a few LO’s thought they had “better” rates on a Jumbo loan than of a broker. While this product is one that has Banks upper hand (in the past), it is only because they can lend bigger amounts at lower yield of interest on their own portfolio. Right now more and more #WholesaleLenders are out there, and I was explaining to this LO, that if he was a broker, he could find lenders to compete with the programs he needs in his market. This type of segmenting for programs exists now again, as there are so many options for lending programs versus the A-typcial conforming mortgage loan.
3 Reasons why #BrokersAreBetter ↓
Weather your a MLO at a Bank or an originator at Broker’s shop. The biggest advantage you have is being able to present many different options for any one lending need. #GetOnPoint with #BluePointMtg – We offer a ton of #Niche programs to specialize in various programs that any #MortgageBroker may need. From Bank Statement loans, to investor NIVA’s, to Reverse loans. We often fit in many broker’s lender arsenal due to this fact alone. Yesterday I started two new relationships one due to having VA loans that we will manually underwrite, and one due to having so many options on the Non-QM product mix. #LetsDoBusiness – CLICK HERE
As I always say –