Where have all the wholesale reps gone?

Comments(0) By Mike Miller •May 22nd, 2008

Welcome to Capital Market Funding, we appreciate your time and your efforts to make CMF one of the most respected mortgage brokerages in the area. If you are a “new” rep to us, I would like to give you a few pointers before you stroll through our office:

We are a value oriented company. We receive our referrals to clients because we add tremendous value to our referral partners. We expect value from our wholesale partners in return. DO NOT assume that we care about your niche product. The person before you already told us that they can do a non-owner, stated, cash-out, over a million, with a 580 score for a non resident alien. The only problem is we have never done that loan and never will. Don’t waste the precious little time you have with our professional loan officers talking jibberish.

Plan on developing a relationship if you want any business from us. If you think we are going to send you a loan in our pipe because you just happened to walk through the office you are sadly mistaken. We work mostly on purchase transactions and we will not risk our reputation with a Realtor for .125% or .25% more in rebate. It is not worth it.

Please be respectful if we are on the phone or in a meeting. We plan our days pretty tight, and if we spend 10 minutes talking with everyone that comes through the office, we will not have time for our clients. I recommend that you make appointments with your target loan officers and then have a real meeting to determine what our needs might be. Then, if we really need that loan mentioned above, you can tell us about it.

Frankly, we are doing a fair amount of business without you or your company’s help. That means if you want to do business with us, plan on earning our trust, and then adding tremendous value to our loan officers. No one here makes a “fast buck” and you won’t either, plan on paying your dues.

Our company supports those individuals who help us. Do you want to score huge brownie points and earn the loyalty of the managers? Refer us good people. This business is full of shady companies, but CMF is the place professionals love to work.

In return, we will be happy to respect you, learn about your products, and develop a long term profitable relationship with you. We will also be sure to tell our friends in the office how special you really are.

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Filed Under: Loan Officer Tips