Becoming a Mortgage Broker?

Couldn't you convince the borrowers to refinance through your securitisation?

Bit of misunderstanding of how the whole business works and what the value proposition s

this is exactly the thing that I was on about before

the primary focus isnt on the client........................

short term gain, long term pain, if you try and force all your clients to the one lender that makes you a mono product provider.

In any case, its like a tyre workshop looking to manufacture their own brand................. legend in one's own lunchtime

ta

rolf
 
Bit of misunderstanding of how the whole business works and what the value proposition s

this is exactly the thing that I was on about before

the primary focus isnt on the client........................

short term gain, long term pain, if you try and force all your clients to the one lender that makes you a mono product provider.

rolf

11/10, great post as usual rolf

how can a broker benefit if a broker sell products from a single provider, that is not only short sighted but you will lose customers in a long-term...
 
11/10, great post as usual rolf

how can a broker benefit if a broker sell products from a single provider, that is not only short sighted but you will lose customers in a long-term...

I think you guys misunderstood me. Your clients can have loans with whichever lender. That doesn't matter. The value proposition is access to debt capital markets once you have critical client base. Access to US or even domestic debt capital markets will give you better pricing. Your client would need to be willing to switch from existing lender to a bondholder to get cheaper rates.

Eg say I'm with ING for my current mortgage, paying 4.13%. My broker comes to me and says how about I switch to a different "lender" at say 3.90%. Probably won't be able to offer features such as offset and ATM access, but if the pricing is compelling, you might.
 
I think you guys misunderstood me. Your clients can have loans with whichever lender. That doesn't matter. The value proposition is access to debt capital markets once you have critical client base. Access to US or even domestic debt capital markets will give you better pricing. Your client would need to be willing to switch from existing lender to a bondholder to get cheaper rates.

Eg say I'm with ING for my current mortgage, paying 4.13%. My broker comes to me and says how about I switch to a different "lender" at say 3.90%. Probably won't be able to offer features such as offset and ATM access, but if the pricing is compelling, you might.

No misunderstanding

To get the leverage you speak of requires volume, volume almost always means a conflict or interest and a major shortage of choice.

I'm sure its possible with a billon book but I don't see many of them of that size, no R do I reckon your average portfolio client will be too keen to refi their 10 iOS to the one lender etc etc

Ta

Rolf
 
I think you guys misunderstood me. Your clients can have loans with whichever lender. That doesn't matter. The value proposition is access to debt capital markets once you have critical client base. Access to US or even domestic debt capital markets will give you better pricing. Your client would need to be willing to switch from existing lender to a bondholder to get cheaper rates.

Eg say I'm with ING for my current mortgage, paying 4.13%. My broker comes to me and says how about I switch to a different "lender" at say 3.90%. Probably won't be able to offer features such as offset and ATM access, but if the pricing is compelling, you might.

You are taking about becoming a lender and the markets would want the loans all nicely packaged up BEFORE offering the funding wouldn't they. I'm not sure I can see a way to do that considering all your clients would be with different lenders etc etc etc. You would need serious volume too.
 
Rolf Latham is the best

That's easy. Rolf Schaefer. He retired recently. :)

Rolf Latham was my mentor and therefor I'd say he deserves the title 'best mortgage broker on SS'

PS: Sold my loanbook to Trailerhomes (very smooth and professional transaction with Nick Young); my clients are now looked after by my team from Trilogy in Canberra (my good old friend Ed Nixon).
 
Rolf Latham was my mentor and therefor I'd say he deserves the title 'best mortgage broker on SS'

PS: Sold my loanbook to Trailerhomes (very smooth and professional transaction with Nick Young); my clients are now looked after by my team from Trilogy in Canberra (my good old friend Ed Nixon).

Whoa! Rolf out of the woodwork! :):)

Where/How the heck have you been? Can't recall who owes who a stein.
 
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