"When you start working with a lender, it’s super important that the underwriter and the compliance team [are] all in sync"
The ability to determine the most fitting lender for every client’s situation is core to what a mortgage professional should be providing – and the best lenders are the ones that offer strong systems, processes, and communication, according to Tristan Kirk of Citadel Mortgages.
Kirk highlighted the importance of these criteria.
“When you start working with a lender, it’s super important that the underwriter and the compliance team [are] all in sync with one another. If there are any gaps in that process, that creates issues for us brokers, because then we don’t know what’s going on with our files,” Kirk told Canadian Mortgage Professional.
“The biggest difference between the lenders, really, is that the ones that have a good foundation in their business and have good communication with good quality underwriters and compliance teams … [are] the ones that stand out from the rest.”
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Being selective when it comes to lenders will benefit the mortgage professional in the long run, Kirk argued.
“Don’t try to work with every single lender. Know your business, know your lenders,” he said. “Oftentimes, brokers seem to be doing one deal with this lender, another deal with this lender, trying to build with each lender.”
“You really only need three or four lenders at the end of the day. Figure out which ones you gel with the most, figure out where your business is, and figure out from there what products line up,” Kirk stressed. “Just work with the right lenders. You don't need everyone.”
For more of Kirk’s thoughts on the mortgage business, click here.
