Finding The Best Mortgage Broker Rates

By: Eric Morgan

It goes without saying that a broker is only as good as the lenders he or she serves. The larger the list that you have to draw from, the better service (mortgage broker rates) you can provide for your customers. Sooner or later, though, you may find that you need to find some new lenders who will be glad to work with you. Or, you may be a new broker and need a list of lenders to get your business established, or will soon need that list. Here is how you can find new lenders who are also willing to work with you.

Get Your Own Web Site

You probably already have your own Web site by now, but if not - you need one - ASAP! Not only will it bring leads to you automatically, but it will also open the door for you for lenders to send you emails announcing their services and products. Be careful not to turn on your spam filters, and direct lenders will start contacting you as soon as you put up your Web site with a visible email address. By the way, when it comes to having Web sites - more is better.

Broker Directories

Place your ad in various broker directories online. Some places will allow you to post your ad or banner for free, and others will charge you for this service.

Broker Newsletters

If you subscribe to newsletters for brokers to keep you informed about what is taking place in your industry, be sure that you get one that provides you with leads. This means new lenders type of leads, that is, or one that announces new products that a lender offers. Then you can be among the first to contact a new lender and find those better deals to be able to offer to your clients. Professional newsletters charge for their services, but a good one will be well worth the price.

Lender Directories

Websites that enable brokers to find the right lender are available. Some of these have a rather large number of lenders associated with them. Lenders may be grouped together by the type of loans they offer, enabling you to find what you need in a hurry. This could include commercial loans, bridge loans, sub prime, non-conforming, niche, hard money, and more. Information about each of the lenders is also available, letting you know the company's specialty, as well as their terms.

Get Listed In A Lender Directory Of Brokers

A number of directories are online, often at lender blogs, where you can get listed - oftentimes for free. These lists are usually by state, and some of them will list you by your ranking as a broker (which probably means your level of participation in the blog). You can be sure that if you get listed in a lender's directory that the emails will soon be on their way to your inbox.

Some of these may allow you to place banners on the advertising section of the Web site, and your ad with your logo could be seen, along with info about your mortgage broker business. The best news is that the more lenders that are attached to the Web site, the more will see it. At least one of these Web sites, even has its own pay per click operation, and you can also control the number of times your ad gets seen each day.

Lenders Advertise On Their Websites

When lenders are looking to expand their contacts - which include loan brokers, you will often see an invitation on their Web page to contact them. You can be sure that most lenders will quickly get back in touch with you for more information. Obviously, both of you will profit if the lender has quality loan products that you can use and if they are reliable in their business dealings.

With each of these sources that will help you find the best deals to supply your clients with, it will obviously take some research into the products being offered. A wider spread of lenders allows you to offer better mortgage broker rates than your competitors and you win - both the business and the client's confidence. You also will want to investigate the company some to make sure that it has the reputation you want your customers associated with - after all - words gets out and you could be blamed.

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