The Business Loan Connection connects mortgage bankers seeking access to capital markets with banks and other financial institutions that best fit their individual profiles. Here are some examples of how we help mortgage bankers with their unique situations:
Quick Turn Time
A mortgage banker who specialized in a very unique product was told by its mortgage bank that its warehouse line would not be renewed. The Business Loan Connection came into the picture, less than 30 days before the mortgage banker’s existing facility would be closed down. Working hand in hand with our client, we were able to submit a complete application package within three business days to one of our banks. The bottom line is that we were able to get them approved and closed within 25 days. The new line went into effect one day before that lender’s old line was shut down.
Larger Line Quick Turn Time
In response to an article we had contributed to a national mortgage publication, mortgage we were contacted by a very large mortgage banker. The banker’s volume was increasing quickly, and it needed a $175 million warehouse facility. Plus, it needed to close quickly. We identified a bank which was the right fit the same day that we received the call. The client completed its application with all attachments (2 feet high)in a single day and sent it to our warehouse bank. Within three days, the president of the bank as well as the president of the mortgage warehouse division were sitting in the client’s office. The president of the bank persuaded his senior committee to hold a meeting in order to approve this application. The president of the bank left the meeting with a $12 million deposit. The line was closed 10 days later. The results? Happy client; happy bank!
An example of a Strategic Alliance
One of the more active mortgage brokers in the county approached us to help locate a well-capitalized mortgage banker who could close at least $100 million of monthly production with a very specialized product. We quickly tapped into our resources to locate the “perfect mortgage banker partner” for them. Today, the monthly production that is being closed by our client is far in excess of the $100 million original request.