If you are working for a retail lender or a bank, you should consider making the transition to the wholesale channel as an independent mortgage broker. Or if you are just starting in the mortgage industry, there is no better place to be than working as a broker.
As a broker, you have the ability to shop competitive wholesale rates from multiple lenders. In fact, the lenders work for you! They compete to earn your business by providing lower rates, more programs, and great service and support.
Offer Lower Rates
As a mortgage broker, you work with wholesale lenders who offer lower rates than those of direct lenders. Many wholesale rates are 50-100 basis points better than retail. And in a rising interest rate environment, the difference will continue to widen.
Offer More Programs
Working with many different wholesale lenders, you are not tied to one particular company’s lending options. This gives you a competitive advantage and allows you to shop around for the best loan program for your clients. The varied loan options also mean that you can help clients seeking unconventional loans. As a broker, you have access to all of the following loan programs. And if you are new to the mortgage industry, we teach you about each of them.
- Conventional loans with LTV up to 97%
- FHA loans and VA loans including IRRRL and VA Cash-out Type II up to 100% LTV
- No Mortgage Insurance programs for loans with LTV of 80-90%
- Down Payment Assistance programs
- Jumbo loans up to 90% LTV
- Investment property loans up to 85% LTV
- Non-QM mortgages such as Bank Statement Loans, Asset Depletion Loans, Debt-Service Coverage Ratio Loans, and No Ratio loans.
Receive Great Service and Support
With so many wholesale lenders and so many different programs, how do you learn it all and stay up to date? Remember that the wholesale lenders are competing for your business. Each lender provides you with a dedicated account executive to completely explain everything that you need to know. The lenders work to make sure that every transaction is as smooth and as quick as possible. They are dedicated to helping you succeed.
If you would like more information about becoming a mortgage broker, contact us today!
Why Work for Exponent Mortgage?
At our company you experience a one of kind culture, an extremely easy process, and a flexible work environment that still maintains a strong sense of teamwork.
You will be a part of a company with a culture that sets us apart from others in the mortgage industry. Our guiding principle is that every homeowner who works with us will have a better mortgage at a lower cost with less stress. Because most people are unsure about the process of getting a mortgage, our mission is to help our clients confidently choose the best mortgage for their circumstance and provide them with the easiest mortgage transaction.
At Exponent Mortgage, you are with a company that values building relationships more than simply completing transactions. We are interested in our clients, not just their mortgage. We want to get to know every client, understand their needs, and remain by their side from application through underwriting to closing and beyond. Because we are relationship focused, we are friendly, approachable, and good at listening. We are caring and team minded. We are always looking to meet new people and expand our network of relationships.
We are also driven to self-improvement. We possess a learning mindset and are curious and growth oriented. We want to learn new things as we strive to grow both as a company and as individuals.
As we strive to make it easy for your clients, we also make it easy for you with our superior technology and loan processing.
As a broker with Exponent Mortgage, you have a dedicated landing page on our website with a link to an online application. Once the borrower completes the online application, you are able to fine tune the application and price programs from directly within our loan origination system.
Upon selection of the program, your file moves to our incredibly experienced processing team, who handles the requesting of documents, submitting to underwriting, clearing conditions, and closing.
Our Work Environment
With Exponent Mortgage, you have the flexibility of working remotely and setting your own schedule while also being part of an incredible team. We support each other. We learn from each other, and we help each other grow.