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Steve Kitrel, Regional Manager with USA Mortgage, says there are several factors to consider when a realtor selects a lender. Kitrel says you should find a relationship-based lender that treats you like a person, not a number. Seek an institution with integrity and investor depth.
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- - There are several factors that are important when a realtor chooses a lender. My name is Steve Kitrel I'm a regional manager of USA Mortgage.
Four of the most important are obviously prequalification and preapproval letters, and knowing the difference between the two. You also want a lender, especially in our market, that is relationship-based as opposed to transactional.
What I mean by that is, we really spend a lot of time building a rapport, building a relationship with our clients, as opposed to having them become a set of parameters and a social security number. One of the things that really separates us from other lenders is we are a direct correspondent mortgage bank. What that means is we control every aspect of the process, from origination and processing to underwriting and closing. We fund with our own money and we have over 30 investors that we sell to on the secondary market.
That investor depth allows us to, from the very beginning of the process, really create and present options for the client to determine what best fits their need. The other advantage of that investor depth was if there is something that happens along the lines of the process, and you no longer fit into this perfect box for this investor, we'll have another investor that will accept the loan.
Being a referral-based business such as we are, it is very important that our number one referral source, which is realtors, trust, for one, our prequalification and preapproval letters. They must have integrity. We want our clients and our realtors to know that when they're making an offer with USA Mortgage on the top of their prequalification letter that it is a strong offer and they can make it with confidence. We also want to help our partners grow their business.
We want to make realtors' lives easier, we want to reduce stress by creating a great process and the ultimate lending experience for our buyers. By keeping the buyer and the realtor informed throughout the process, it really eliminates a lot of the stress that you see in our industry. Other than creating an ultimate lending experience for our mutual clients, we also have a ton of tools, whether it be marketing or technology, that also helps our referral partners' business grow.
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