Partnerships between lenders and brokers are imperative in today’s highly-regulated environment, and XMC Mortgage Corporation has taken a unique approach to cultivating strong relationships within the broker channel.
Partnerships between lenders and brokers are imperative in today’s highly-regulated environment, and XMC Mortgage Corporation has taken a unique approach to cultivating strong relationships within the broker channel.
There is an overriding criterion that XMC has for its broker partners, though: exceptional client care. In order to help brokers fulfill that demand, XMC regularly hosts information sessions wherein the firm makes its expectations clear while concurrently absorbing the finer details of its broker and brokerage partners’ daily operations.
“We have a business development team that actively partners within the broker space and educates the brokers on our value proposition, and we target and partner with brokers who hold themselves to a high level of service and expectation,” said Derek Serra, XMC’s managing director. “We’re focused on building our processes and being agile in reflecting the ever-changing needs of Canadians, and we gear that primarily through our broker channel. We continue hosting segments with our broker community so that we’re always on the front end of what’s coming.”
Among the focuses of XMC’s partnerships is how brokers can help clients through turbulent periods, whether it’s marital or employment strife, or even if they’ve fallen ill.
“On our uninsured side, we have selected specific client segments that we want to support through their financial needs, one of them being life events that have impacted their credit,” continued Serra. “We see many scenarios where illness, job loss or marital breakdown have contributed to clients’ credit challenges, and we work to help move them forward through those challenges.”
XMC additionally offers other services to both brokers and their clients, including lead generation tools on its website and free appraisal promotions. The goal, says Serra, is to generate mutually beneficial circumstances.
“Brokers are originating new business for us, and in return we’re looking to generate two things: Excellent experiences for them and, most importantly, excellent experiences for their customers. Lead generation, great turnaround times and advice really help our brokers, and for the customers, we’ve gone down the path of offering free appraisals to help them get comfortable funding their mortgage with XMC.”
Ultimately, forging indomitable relationships with up-and-coming as well as established brokers is XMC’s objective. One of the latter is Shawn Stillman, Mortgage Outlet’s principal broker, for whom XMC approved a deal four hours after submission last week. The deal will close in only six days.
“They’re picky with who they work with and they’re not trying to be every bank to everybody,” said Stillman. “You don’t have to chase after this lender for a follow-up. Since they brought Derek onboard, he’s helped them become much more efficient, flexible and easier to work. They’ve gone from being one of the most difficult lenders to extremely efficient in a very short time.”
