Why Most Borrowers Should Use Mortgage Brokers – Part 2

As a direct lender, I am constantly told by “consultants” that I need to change my business from utilizing mortgage brokers for deal flow to operating directly with the borrower. I have concluded that it is more beneficial for both the borrower and ourselves (direct lender) to operate through brokers.

Here are the top 5 reasons direct lenders should utilize mortgage brokers rather than pursue loan requests from borrowers directly

1. The mortgage broker will present a complete loan package saving the lender valuable time

2. The lender will see loan requests that meet his criteria rather than an unlimited number of undoable deals

3. The mortgage broker will have a trust relationship with the borrower that then lender can never have

4. The lender will save advertising and marketing cost and time

5. The lender will have access to loan requests he wouldn’t otherwise see