Follow the money and you will realize the your investor is your true customer.
In today's market, investors are closely scrutinizing their lenders – cutting off poor performers and pricing the rest accordingly.
You may not even know it, but you are being penalized if you:
- Let loan officers lock directly with them
- Sell on best efforts (instead of mandatory)
- Send them paper loan files
- Struggle delivering trailing docs
We recently asked the head of correspondent lending for one of the nation's largest investors what they thought of lenders that let LOs lock directly with them.
He broke into a huge grin and said "We love those clients... we make so much more margin off of them its not even funny."
He's right -- it's not funny (for your business).
He continued... "seriously though, every lender needs a lock desk."
The Solution
With DMD's solutions you can easily centralize your lock desk operations and take control of your:
- Lock commitments
- Pull through
- Pricing accuracy
In addition to our own tools, most of the leading product pricing and eligibility (PPE) and automated underwriting systems (AUS) integrate into our platform. You can learn more about them in our Partners section.
Today's market also encourages mandatory commitments with your investors - they are paying upwards of 100 bp (that's pure profit to you).
With DMD's solutions, you will have complete visibility into the strength of your pipeline:
- Track the status of every locked loan
- Understand your pull through by loan program
- Measure your fall out by originator
Share that information with any of the leading capital markets advisory companies and you can virtually eliminate all of the risk with mandatory trades. You can learn more about them in our Partners section.
Finally, the delivery of documents to a lender has never been easier.
With the click of your mouse, you can run a complete audit on a loan file (or bulk of files) to instantly identify any missing documents. All good? Click again and the file is electronically delivered.
DMD's system even helps you keep track of trailing docs.
The Details
If maintaining a great relationship with your investors is important to securing your peace of mind, be sure to ask about it specifically while participating in a demonstration of our solution.