Tips for Mortgage Brokers: 5 Ways to Scale Your Business

Tips for Mortgage Brokers: 5 Ways to Scale Your Business

When rates go down, many borrowers may be looking to refinance their home loans. Make sure you’re ready to help them with our top tips for mortgage brokers in a refinance market (or any market, for that matter). Let’s get into it.

Top Tips for Mortgage Brokers: Refinance Edition

  • Leverage Technology
  • Offer Competitive Pricing
  • Expand Product Offerings
  • Optimize Marketing Efforts
  • Prioritize Customer Service

1. Leverage Technology

In today’s world, you’d be hard-pressed to find any industry where technology isn’t a critical factor to success. A convenient online experience is the minimum most customers expect, so how can you exceed those expectations and still incorporate your personal touch? Enter Octane.

Octane is Cardinal Financial Wholesale’s custom-built loan platform. What really makes it great is that as intuitive as it is today, it’ll be even more so tomorrow. In fact, in the time between us writing this and you reading it, Octane may very well have evolved beyond the information here to better meet your business’ needs. Regardless of how features and functionality evolve, you can always count on Octane to deliver on the following principles.

  • Smarter than “smart.” Great today. Better tomorrow.
  • Seriously secure. Loans on lock. Data, too.
  • Automatically on point. Predictable, perfected.
  • Compliance, uncomplicated. Changes with the times, in no time.
  • Tailored to you. Just like your fingerprint.
  • Always on. Because business hours are for banks.

2. Offer Competitive Pricing

Ok, so this one may seem obvious. But whether your borrowers are purchasing or refinancing, they’ll always be looking for the best price. National average rates may be out of your control, but you can still go the extra mile to help your borrowers find a rate that works for them. CF Wholesale helps by offering a wide range of products, community lending programs, and up-to-date information on market trends, product updates, and anything else that’s relevant to your borrowers’ home loans.

3. Expand Product Offerings

Speaking of products, one of the best tips for mortgage brokers is to have a wide variety of refinance loans available. While many borrowers may simply be looking for a lower rate, they may not know about all the refinance options available to them that could help them reach other goals. When you work with CF Wholesale, you have access to an expanded product suite that includes:

  • FHA 203(k) Refinance
  • FHA Streamline Refinance
  • Cash-Out Refinance

…and more! Reach out to our team to explore our full range of refinance products.

4. Optimize Marketing Efforts

You’ve got the tech. You’ve got the products. But how do you plan to let your borrowers know about them? Marketing is key. The right marketing strategy will depend on your target audience. Luckily, CF Wholesale has an in-house creative team to develop materials to meet your needs. From signage to social posts, we’ve got you covered.

5. Prioritize Customer Service

As much as the market changes and technology evolves, customer service will never become obsolete. At CF Wholesale, we know how important it is to maintain accurate, timely communication with your borrowers. Use Octane and our creative bank of emails to keep them in the loop at every stage of their loan process, and don’t forget to stay in touch after closing. Not only does this result in a better experience for your borrower, but it also keeps you top of mind for their next purchase or refinance.

Bonus Tips for Mortgage Brokers

Rates change, markets change, and the mortgage broker advice you need may change, too. But we’ll leave you with an evergreen tip for mortgage brokers: Be adaptable. The more you’re able to adjust your tools and strategies, the longer your business will thrive. And if you’re looking to partner with a mortgage lender who can help you do all that, get in touch today to see what Cardinal Financial Wholesale brings to the table.

<blockquote>Intuitive tech, expansive product suites, and great customer service can help you make the most of a refinance market.</blockquote>