This is always a game changer....

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I'm curious real estate agents, what is it that you look for in a mortgage lender that you exchange business with? What are the biggest differences in the lenders you continue to do business with & the lenders you stopped doing business with? Basically how can I keep the best win/win relationships with my agents? Any feedback is appreciated

@Walter Purdy The most important thing I look for with lenders is there level of communication with me. If they are responsive and keep me in the loop I know they are doing the same with my clients. The second most important thing is to make sure the lenders don't experience unnecessary delays with closings. I just had a transaction where I was the listing agent and the buyers agent came to me and said we have to push closing back two weeks because the lender is busy and they had a backup of files in underwriting. The lender I use has never had a delay in 30+ transactions and the only time they do have a delay is because the client hasn't provided the required info or they miss signing their CD 3-4 days before close.

@Walter Purdy Yes, I just met with the lender I use so we could discuss our current transactions. Our relationship is great and be both benefit from working together and communicating. Find someone you like and trust to refer your clients to. We try to average 25-30 days to close during the slow season (winter) and 35 days during the busy season (now and summer). 

@Jake Thomas is right about level of communication. That is key. The ability to close a deal on the proper timeline is imperative for me. We have a lot of Federal Employee Credit Unions here in the DC, and I wont let my buyers use them, nor will I accept an offer if that is the lender since I know there is a 90% chance they will have a delay. Often the large banks have delays as well.

A loan product I have to use often in my market due to its competitiveness is using a loan where the borrower goes through the full underwriting process before making offers. Each bank has a different name for this type of product, but it is important for me, since this allows us to close in say 2 weeks, so we can then compete against all cash offers better