{"id":1204,"date":"2007-03-24T02:09:50","date_gmt":"2007-03-24T09:09:50","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=1204"},"modified":"2007-03-24T02:13:15","modified_gmt":"2007-03-24T09:13:15","slug":"ask-the-broker-how-does-a-lender-ae-get-business-from-a-mortgage-broker","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1204\/ask-the-broker-how-does-a-lender-ae-get-business-from-a-mortgage-broker\/","title":{"rendered":"ASK THE BROKER: How does a Lender AE get business from a Mortgage Broker?"},"content":{"rendered":"

We received an inquiry today :<\/p>\n

\n
I am a Wholesale Lending Account Executive and work for a bank. After the subprime market plummeted, it has been hard for me to get loans from mortgage brokers. <\/em>What do you think is the best route to re-pump loans back in the pipeline, not necessary the same volume as before, but at least a reliable broker source that keeps funding mortgage loans through me? <\/em><\/div>\n<\/blockquote>\n

I don’t need to tell you that loan originators are a suspicious breed. Now, more than ever, we are hesitant about trying new capital sources.<\/p>\n

Here are five tips I have for a Wholesale Lending Account Executive:<\/p>\n

1- You MUST have a unique selling proposition<\/strong>. Price, service, or product niche. Define that USP in your first ten seconds very specifically.<\/p>\n

EG: “I am Brian Brady with Gateway Bank and I offer the perfect 100% loan solution for teachers, police officers, or firefighters. You’ve heard about the collapse of 100% loans but this loan program has been around for 9 years and I know exactly how to get these loans approved with my bank<\/em>.”<\/p>\n

Don’t worry about limiting yourself. Start with the niche and let the conversation develop.<\/p>\n

2- Don’t focus your efforts on a few brokers; market to many originators<\/strong>. If an originator is worth one $200,000 loan a month and you want to fund $10 million a month, you’ll need 50 good originators considering you. You should have four times that amount in your “prospect file”. Spread it out over at least twenty accounts.<\/p>\n

3- Write a web log<\/strong>. You can get a free web log at Active Rain Real Estate Network<\/a> (click the link). There are 2000 loan originators registered there. Point a domain name at the web log and make it catchy (www.placeyourloan.com is available<\/a>). That will cost ten bucks a year. You can start by posting programs that go out on your e-mail. Try to accompany the loan program with a story about how you funded the loans. Instruct your originators to read it.<\/p>\n

4- Visit the originators at least Read more<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

We received an inquiry today : I am a Wholesale Lending Account Executive and work for a bank. After the subprime market plummeted, it has been hard for me to get loans from mortgage brokers. What do you think is the best route to re-pump loans back in the pipeline, not necessary the same volume […]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-1204","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-real-estate","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":17922,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17922\/mat-ishbia-draws-a-line-in-the-sand-do-business-with-rocket-mortgage-and-you-wont-do-business-with-uwm\/","url_meta":{"origin":1204,"position":0},"title":"Mat Ishbia draws a line in the sand; do business with Rocket Mortgage and you won’t do business with UWM","author":"Brian Brady","date":"March 4, 2021","format":false,"excerpt":"The dynamic CEO of United Wholesale Mortgage, Mat Ishbia laid down an ultimatum to the mortgage broker channel today.\u00a0 Ishbia said, in a conference call with members of the Association of Independent Mortgage Experts (AIME), that mortgage brokerages who choose to fund loans through Quicken's Rocket Mortgage will no longer\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10856,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/10856\/2010-mortgage-broker-renaissance\/","url_meta":{"origin":1204,"position":1},"title":"2010 Mortgage Broker Renaissance","author":"Brian Brady","date":"January 14, 2010","format":false,"excerpt":"Is the business of broking mortgage loans dead?\u00a0 About two years ago, Morgan Brown predicted our demise on Blown Mortgage.\u00a0 His conclusion was that the industry would need a scapegoat for the poor lending practices and that \"blaming\" mortgage brokers was convenient (and not necessarily fair).\u00a0 His conclusion suggested that\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3317,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3317\/farewell-countrywide-how-the-bank-of-america-merger-will-keep-wells-fargo-as-the-mortgage-origination-leader\/","url_meta":{"origin":1204,"position":2},"title":"Farewell Countrywide: How The Bank of America Merger Will Keep Wells Fargo As The Mortgage Origination Leader","author":"Brian Brady","date":"July 2, 2008","format":false,"excerpt":"WARNING!\u00a0 Long commentary about the Bank of America\/ Countrywide merger ahead: Bank of America Press Release from July 1, 2008 (italicized) with my commentary: CHARLOTTE, N.C., July 1 \/PRNewswire\/ -- Bank of America Corporation today completed its purchase of Countrywide Financial Corp. to create the nation's leading mortgage originator and\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1356,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1356\/subprime-loans-disappeared-learn-how-to-be-a-hard-money-loan-broker\/","url_meta":{"origin":1204,"position":3},"title":"Subprime Loans Disappeared? Learn How to be a Hard Money Loan Broker","author":"Brian Brady","date":"April 27, 2007","format":false,"excerpt":"Loan originators who have based their business on subprime mortgage products have been feeling the pinch in 2007. Private mortgages or hard money lending may be the solution to your problem. Four originators gathered with three hard money lenders in our podcast. The Lenders: Mitch Zeichner (310) 948-2622 Mitch represents\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1555,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1555\/subprime-lending-fallout-goes-upstream-to-take-down-two-major-hedge-funds-what-does-this-mean-to-real-estate-investors\/","url_meta":{"origin":1204,"position":4},"title":"Subprime Lending Fallout Goes Upstream to Take Down Two Major Hedge Funds: What does this Mean To Real Estate Investors?","author":"Cooksquared","date":"June 20, 2007","format":false,"excerpt":"Two major Bear Stearns Hedge Funds face foreclosure due to their significant exposure to the subprime lending market. While this does not fall under the category of real estate investor, I spent last summer working for Bear Stearns and interacting with many of their hedge funds. Based on the very\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11629,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/11629\/originator-compensation-overhaul-to-cost-consumers\/","url_meta":{"origin":1204,"position":5},"title":"Originator Compensation Overhaul to Cost Consumers","author":"Brian Brady","date":"March 23, 2010","format":false,"excerpt":"I said\u00a0new legislation would\u00a0benefit mortgage brokers to the detriment of direct lenders.\u00a0 In the comments, I feared something insidious might happen (responding to Wayne Long): WAYNE: \u201cIt is interesting that the new rules benefit the broker vs. the direct lender\u201d BRIAN: It wasn\u2019t by design (which is why I expect\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=1204"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1204\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=1204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=1204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=1204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}