01 Nov How Loan Originators Can be More Valuable to Potential Borrowers
As an NMLS loan originator, the larger your client base, the more money you stand to earn. Of course, building that client base means adding value to your services. You already provide generous value to borrowers simply by doing your job; but if you can find ways to add even more value, you can stand out from your competition and gain even more potential business.
Don’t Throw Away Deals
Let’s face it. Without the services of NMLS licensed loan originators, borrowers would be pretty much lost. They rely on you for everything from teaching them the importance of pre-approval, to organizing their loan application, to finding them qualified lenders. It’s that last step that can get a little tricky. If your standard slew of lenders or even your own shop isn’t able to finance a deal, don’t automatically throw the deal to someone else or leave your client hanging. In short, don’t leave money on the table.
At CCIG, we not only come to your aid when other lenders leave you high and dry; we pay out referral fees and can supplement your income when interest rates are high. Come talk to us for financing approval that you can’t get done elsewhere. Or heck, just come to us first and save yourself a step!
A Little Hand-Holding Goes a Long Way
First-time borrowers, whether for themselves or for an investment property, appreciate more hand-holding along the way. Even though you’re already providing a bevy of services, looking at your job as more of a concierge of mortgages may prove beneficial to you and your clients. Some of the things that first-timers worry about include not hearing anything back. Consider offering things like:
- daily 2-minute check-in calls or quick emails
- providing a checklist so borrowers can feel better knowing that items have been taken care of
- tips on organizing their finances/loan application documents to facilitate the approval process
- Providing a general timeline of expectations so borrowers feel like they have a window into what’s happening and when to expect the next stages in their approval process.
Specialize in an Under-served Niche
Broaden your customer base by specializing in an under-served niche, such as borrowers looking for no-income verification loans, fix and flips or other hard-to-find lending criteria. Remember, specializing doesn’t mean you have to disregard your “regular” client market; it only means you’re adding to a market segment that’s looking specifically for services that you can offer.
Even if your current shop doesn’t underwrite these types of investments, you can get it done when you work with CCI Group. We have a range of creative underwriting opportunities and we offer quick closings and superior customer service support. With ten years under our belt, we know how to make you look good, which can lead to even more referral bonuses for you!
At CCIG, we stand with NMLS-licensed loan originators. We understand that helping you succeed is the best way that we can continue to succeed. Get in touch today to learn more about how we can help your business grow.