Choice of Lenders
We also use many lenders to help find you the best rate, the best terms. Not only do we have a number sources, we also have software that sorts through all of the different lenders that we have, so instead of relying on one human being, your loan officer, to know who has the best rates, it’s almost impossible for one human being to sort through numerous rate sheets, which can be 4-6 pages each. What loan officers will end up doing by default is working with their favorite lender and you may not necessarily be getting the best terms because they’re working with people that take them to lunch or they’re working with people that they like for whatever reason. I use the software that automatically sorts through all the lenders that we work with so I can immediately go to the best price.
There are many times when you may not want to deal with somebody with the best price or they may not have the loan program that we’re looking for and specific that the consumer wants, but none the less, it’s a good tool to have to make sure that you’re quoting what is the best set of terms for the consumer.