Starting NEW Mortgage Broker Business NEED LENDERS

dmena247 · Joined: 15 Aug 2005 Posts: 3

I will be openeing a Mortgage Broker Business in South Florida in approximately 45 days. I am searching for Lenders to do business with. In my search I have noticed when I look at the Broker Package they all request 2 years P & L, and 3 Lender References; I obviously don't have that yet, being a new business and all. Any Lender's out there that I can start to work with? Thanks in advance for your help.

David · Joined: 19 May 2004 Posts: 703

Hi welcome dmena247
We'll be moving this over to the advertising forums first. We may have to delete it after that. Advertising is a priviledge only granted to participating members, who offer help and advice, and interact with others. I hope you will be one of those.
Thanks

dmena247 · Joined: 15 Aug 2005 Posts: 3

I'm sorry I wasn't aware that I was advertising. This was definately not my intention. My only intentions were to get other Mortgage Brokers to shine some light on how to get this going or any Lender to tell me what I had to do. My understanding of advertisement is to solicit business by letting others know the name of my company, what my services will be & how they can reach me, and I believe I have done nothing of this nature. Advertisement was not at all what I came in here looking for. I believe this is a very informative site & I am content with it therefore I do plan to stick around & if I can offer some advice of coarse, why not? So please I would prefer if you can refer to the forum I must enter to try & get some advice on what I need.

Thanks in advance your help.

David · Joined: 19 May 2004 Posts: 703

Hi thanks, and I can see your intent was not blatant advertising (which we see quite often here). From the homepage of the site, you will see one of the forums is for advertising, and that is where I will be placing this post shortly (or one of the moderators).

dmena247 · Joined: 15 Aug 2005 Posts: 3

O.k. Thanks again!

Haplo · Joined: 20 Jan 2005 Posts: 2406 Location: Springfield, IL

I have to say that as a lender myself I don't necessarily see this as advertising.

I would ask however that the responses remain neutral and not "We can do 125% at 500 score!" type. Lets keep it to what he's asked for. Can you help him, do you know someone who can, and if so please just post a way he can get ahold of him.

Just starting up a brokerage is hard work! I wish you a lot of luck!

chow · Posted: Mon Aug 15, 2005 5:49 pm Post subject:

Uncle Guido, that isn't an Ad. It's a cry for help as a new business.
8)

Now, the first thing you need to know is each and every lender is going to ask you for your own personal information. Basically they are extending you "credit" based on what you do with your own bills-on a personal level.

(You know that age old saying-"Birds of a Feather, Flock Together." The Nut doesn't fall far from the Tree.)

It isn't hard to get signed up with several major lenders, if they already know you. Ask if they will take a bureau already ran, and call the provider to verify the information, so your score doesn't go into the sub basement.

I would suggest you call and meet each AE's lender you want to do business with, and keep the selection tight, until you have your nitch market.

Good Luck, and Good Skill! it's really fun to be "a boss" :wink: