For Brokers/LOs - What's Your Biggest Lender Frustration?
Quick question for the brokers and loan officers in the community:
What's your biggest pain point when working with lender partners (especially on DSCR/investor deals)?
Is it:
- Slow response times?
- Last-minute term changes?
- Poor communication throughout the process?
- Missing closing dates?
- Something else?
My perspective from the lender side:
I've worked with 50+ brokers over the last year on DSCR deals. The ones who keep sending me business tell me it's because I make them look good to their clients.
What that means in practice:
- Response within minutes to hours (not days)
- Clear expectations set upfront (no maybes or surprises)
- Constant communication at every step
- Close in 21 days or less typically
- No retrades or last-minute changes
The key I've found is full transparency from day 1. If there's an issue with a deal, I'd rather know on day 1 than day 20 so we can address it early.
For the brokers here: What would make your life easier when working with lenders? What do the good ones do that the bad ones don't?
For investors: What have you experienced when your broker had a terrible lender partner? How did it affect your deal?
Genuinely curious what everyone's experiencing out there.