If your new to mortgage brokering, or just new to doing alternative deals, you may feel unsure of the process and requirements. You’re not alone. New brokers are entering the business on a regular basis, and we work with them all of the time.
Rather than fumble through, one of the best things you can do is ask the lender for help right up front. Let them know it’s your first deal or that you’re a bit rusty. If we as lenders know that you’re unfamiliar with the process, we can help you understand not only what we’re doing but why we’re doing it.
For the broker it’s a steep learning curve, but for us as lenders, we see the benefits of establishing a relationship with brokers so that they’re comfortable dealing with us, even if it’s some new situation that they’ve never seen before. It really is a win-win for the broker and the lender.