Quite an idea in the warehouse sector…
One of the big problems a number of smaller mortgage lenders have is being able to get permission from their warehouse partners to deliver loans to mid-sized securitizers. I know of many wonderful alliances that have been killed by this fact of life.
I have been suggesting to some of my stronger banker clients that they obtain a facility which enables them to give out sub-lines to their solid mortgage banking clients. Some have taken my advice, and are now creating something which will make quite a few bankers very happy. Please keep in mind it is not a captive line that they will be issuing. Rather, their clients will be able to sell their loans to any qualified take out. The truth of the matter is that the products my clients are going to offer are so well priced without overlays that most of their future clients will want to sell them their production regardless.
I have placed many warehouse facilities for many mortgage lenders, but I have never before seen such a wonderful business plan. One client’s warehouse division should be up and running within 60-90 days and the results should be wonderful.
Interested? Drop me a line so I may turn your contact information over to my client.