Special offer

Green Valley Mortgage Connect

By
Mortgage and Lending with First Priority Financial

A feature I'd like to share here is Green Valley Mortgage Connect. This is a RESPA reviewed and approved mechanism that allows a real estate broker to build a working relationship with us. This is available to real estate brokers throughout California.

When an office signs on with us, the broker becomes a 'manager' for his office. Any loans generated through his agents with our office will be available for his review on our Think Big Work Small website. Communication logs are linked to the referring agent's email box as well as that of the broker. All activity as the loan progresses is noted in my file as well as the broker file.

If my processor requests a document, everyone knows what is sought, when it was sought, sought, sought, sought! Communiques are time stamped and dated. When the appraisal is in, a message goes out. When all the prior to doc conditions are in, a message goes out.

Financial flyer information is at your broker's finger tips as well as a host of other sales, marketing and training features on our site. 

Did I mention the broker gets paid on closed transactions? Oh yeah! Because the real estate broker is now a manager of his own GVM Connect branch (Truth-be-told this is a very passive managerial position!)  he is lawfully, legally paid 25% of our loan commission, right off the top.

Contact me for more information 

Paul Harford
First Priority Financial - Benicia, CA

Hi David,

 

Thanks for your good thoughts. When I had my real estate franchise I tried the 'in-house' lender and even though my agents 'loved' me, they were reluctant to take broker-directed lending advise more than about a third of the time.

In looking back there were some obvious holes in the program then that have since been nicely filled, mostly having to do with technological advances.  Another facet of our approach is that it is an office-to-office relationship where, for instance one of your agents decides that he doesn't care for an eccentric grey-haired LO, he can select another of the LOs on my staff.

More importantly, if there is a cultural or language consideration, Spanish-speaking buyers here in CA for example, our office can meet your agent and prospect's needs without any me,me,me or my client, my client, my client stuff that sometimes ventures into commission life.

Many real estate brokers think they can offset big Realtor commission-split losses or other areas of high overhead by having their own lending arm (no pun intended). They usually learn that lending isn't going to provide that rescue element and they get discouraged. Others find that establishing their own credibility (read approval) in the wholesale lending community is more work and money than they ever imagined.

I don't oversell the financial reward and concentrate on the value we bring to the trenches.

 

Jan 26, 2008 01:04 AM