Potomac, MD, May 16, 2006 --(PR.com
)-- Loan officers and mortgage brokers spend hours calling or e-mailing wholesale account executives to see if a difficult loan scenario meets an investor’s underwriting guidelines and whether or not their rate is the most competitive.
"Whenever I get an application for a tough loan that most lenders wouldn't touch, I have to spend hours calling and e-mailing numerous sub-prime and hard money lenders to see if anyone could fund the loan." said, Jim Martens, a loan officer in Rockville, Maryland, whose business mainly consists of Alt-A and sun-prime loans. Being able to fill out just one short form online that will be seen by hundreds of account executives, within ten seconds of submission, is going to save me at least five hours of tedious work every week. This will allow me to originate at least one or two more loans and it doesn’t cost me anything.”
Broker Network, based in Maryland, has developed a software program that will generate an RSS feed as soon as a loan scenario is submitted by a mortgage broker. The RSS feed will be available to all wholesale account executives who subscribe to the service, which is completely free for mortgage brokers. For a small subscription fee, wholesale account executives will now have instant access, on their desktops and cell phones, to fresh, hot leads from motivated mortgage brokers looking for a lender.
According to Julian Bond, who developed this software program and business model, no one in the mortgage industry has ever used RSS feeds for submitting loan scenarios and pre-qualification data to wholesale lenders. “As far as I know, we are the first to have developed this solution” said Mr. Bond. He also hinted that soon he will be launching a retail lead generating platform using a similar concept.
For more information on how to become a member of Broker Network and subscribe to this service please contact Julian Bond via e-mail: firstname.lastname@example.org or visit his Blogazine at www.brokerwatchdog.com.