Does your lender go above and beyond to push your loans through?

By Scott Bristol

You know better than anyone that closing your loans on time is paramount to being a successful originator. Clients expect it and real estate partners will go with another loan provider if you don’t deliver. The question you ought to be asking yourself is – “Does my lender do everything possible to push my loans through on time?”

To excel as an originator, you need a lender that constantly manages the loan pipeline and diligently follows-through to get your loan closed. When you work with a lender like New American Funding, who has a fast-moving automated platform, along with production assistants and area production managers, you get 23 day average turn times for loans - while the industry average is nearly twice as long. 

How do we do it? Our production assistants (PAs) act as a quality control before the loan file goes into processing. The PAs scrub the file to make sure all necessary documents are present and properly organized, so the loan doesn’t get clogged in the pipeline. Additionally, our area production managers oversee the pipeline for their region. If you don’t have both PAs and area production managers, your client’s loan could get delayed during processing.

To keep loans on target until closing, you also have to be able to get swift decisions. That’s why our area production managers have a direct line of communication to both the credit policy managers and the executive team. If a loan has to be escalated, they don’t have to wait for a committee to meet; instead they can get same-day decisions to stay on top of pushing your loan through.

If you want to elevate your business, work with a lender that lets you take an application and then pass the file off to a team who will push it through on your behalf. You should originate the loan and then close it, while your support team does everything in between.