By: Zack North
When it’s time to make a purchase online, most of us scroll down to the bottom of the page so we can read reviews from others who have purchased the same product.
Why do we do this? It’s not like we’re able to vet the reviewers. We don’t personally know them.
Still, their feedback carries weight. Maybe it’s because we identify with these strangers – after all, they had the same need as us and they ended up feeling strongly enough about their purchase experience to share with the world.
Peer reviews are clearly valuable when purchasing a car seat or coffee maker. But are they meaningful for mortgage brokers looking to identify the best possible lender for their client’s small-balance commercial or DSCR loan scenario?
We think so! That’s why we send a survey to every broker after they close a loan with Silver Hill Funding, LLC. First, we want to hear how we can improve the lending experience for our transacting brokers. But we also want to give those who haven’t yet worked with us the opportunity to hear from their colleagues.
As 2024 comes to a close, we can take a look at our broker survey results for the year and highlight the various experiences our partners wanted the world to know.
Survey Overview
Our closed loan survey includes the following questions:
- How would you rate your overall experience with Silver Hill Funding?
- Please rate the ease of your transaction.
- Please rate the speed of your transaction.
- Please rate the performance of your Account Executive.
- Please rate the performance of your Processor/Client Manager.
- How likely is it that you would recommend Silver Hill to a friend or colleague?
The aim here is to capture broker sentiment for the aspects of a loan transaction that mean the most for brokers today. Was the experience easy? Was it fast? Did you enjoy working with the Silver Hill team?
In addition to the ratings, we also ask brokers for additional comments – good or bad – that they’d like to include in their review. A few of those testimonials are posted here as well.
Who’s the Customer?
As a wholesale lender, our direct customer is you, the mortgage broker. But ultimately, we both serve the borrower and their business.
For them to have a positive experience, both the broker and lender need to be working effectively and in unison throughout the transaction.
We trust that providing you with remarkable service makes it that much easier for you to pass that level of care on to your client, the borrower. And if you can trust us to protect your reputation as a solution provider, you’ll keep choosing Silver Hill for your small-balance commercial and DSCR loan scenarios.
Ready to see how we performed this year? Let’s dive in.
Question 1: How would you rate your overall experience with Silver Hill Funding?
Score: 4.5 / 5
“This process was as close to flawless that exists in our business. We exceeded the borrower’s expectations. Thanks again for another great one.” – Transacting Broker
Our first question asks brokers to sum up their entire transaction experience, from submission to post-closing. Subsequent questions dive deeper into various aspects, but we want to begin with the general sentiment.
In 2024, 70% of all survey participants rated us a perfect 5 out of 5. While we appreciate the fact that most brokers have absolutely no issue with our way of doing things, we also discuss all negative reviews to understand the issues at hand and determine what we could do differently to improve the broker’s experience next time.
Question 2: Please rate the ease of your transaction.
Score: 4.3 / 5
It’s always a pleasure closing with Silver Hill because of Carlo Minor and Jenaia. This loan closed and funded on the day that I told my borrower it would. Thank you, team! – Transacting Broker
Our goal with each transaction is to make you feel like the Silver Hill team simply has it covered.
Make no mistake, you’ve got work to do throughout the process as well – whether it’s sourcing the deal, obtaining the signed LOI, or answering questions, your guidance helps the borrower feel comfortable and confident. But our underwriters, real estate team, operations staff, and other key team members are working behind the scenes to carry the burden of each complicated deal.
Experienced mortgage brokers know that no two transactions are alike and almost none are “easy” in the sense that a cookie-cutter residential deal might be. But some lenders are clearly easier to work with than others, and that can make the difference when choosing the best fit for a borrower.
What makes a transaction easy? We believe it’s all about consistency. If you choose to work with Silver Hill, you know what you’re going to get at every stage of the transaction. We’re heartened to see that the majority of brokers felt that way about us in 2024.
Question 3: Please rate the speed of your transaction.
Score: 4.3 / 5
“I closed a commercial property in 14 days! Not 14 business days but 14 DAYS from beginning to end and this was ONLY possible because of Cynthia Porter-Roy. She’s wonderful, efficient, smart, and quick. She’s also an excellent problem solver.” – Mona O.
When we ask brokers about the aspects of a lender that matter most to them, they nearly always argue that speed tops the list.
Time is money, sure, but the need for speed goes deeper than that. The investors and small business owners who require small-balance commercial and DSCR loans have a pressing need for financing – a delay during one of these transactions can cause them to lose out on a new investment or create stress when trying to refi out of a looming balloon payment.
The key is to work as quickly as possible without sacrificing the care and focus needed on these types of deals. As our head of sales, Juan Barcelo, says, “It’s more important to get the deal done, get it done right, and get it done as quickly as possible.”
Question 4: Please rate the performance of your Account Executive.
Score: 4.7 / 5
“James Pendergast is always awesome, super responsive, knowledgeable and professional.” – Transacting Broker
The first person you meet at Silver Hill is likely going to be your Account Executive. Our team of industry experts has a tough job to do – they need to quickly learn about your client’s scenario, identify the solution that best meets their specific need, and then work with you to build that solution out in a way that helps the client feel comfortable moving forward with the loan.
One reason brokers always rate our sales team so highly is because we genuinely want what’s best for the customer – even if it isn’t a Silver Hill solution. Our Account Executives know that not every scenario is a fit for Silver Hill, and they’re happy to point brokers in the right direction so the borrower can get what they really want. Simply put, that’s how you build trust in this industry.
Question 5: Please rate the performance of your Processor/Client Manager.
Score: 4.6 / 5
“It’s always amazing to work with Angelica. Even through difficult times in a loan she is diligent, pleasant, and honestly cares about closing each file. When I am confused about an underwriting request she puts these items into a clear prospective, making my job easier and smoother.” – Transacting Broker
The Processor in a loan transaction is the one who keeps the trains running on time. They work to collect necessary documentation, order third party reports, and follow up with the broker and borrower when necessary to prevent delays.
It would be easy for a Processor to come off as bossy or impatient, yet our team at Silver Hill consistently receive extremely high praise from brokers. As a customer recently said about one of our Processors, Jherylle, “[She] is the absolute best loan processor I have ever worked with in my 24 years as a commercial mortgage broker/correspondent lender.”
Question 6: How likely is it that you would recommend Silver Hill to a friend or colleague?
Score: 4.6 / 5
“It’s always amazing to work with Angelica. Even through difficult times in a loan she is diligent, pleasant, and honestly cares about closing each file. When I am confused about an underwriting request she puts these items into a clear prospective, making my job easier and smoother.” – Transacting Broker
The Processor in a loan transaction is the one who keeps the trains running on time. They work to collect necessary documentation, order third party reports, and follow up with the broker and borrower when necessary to prevent delays.
It would be easy for a Processor to come off as bossy or impatient, yet our team at Silver Hill consistently receive extremely high praise from brokers. As a customer recently said about one of our Processors, Jherylle, “[She] is the absolute best loan processor I have ever worked with in my 24 years as a commercial mortgage broker/correspondent lender.”
Wrapping It Up
That’s it for 2024! If you worked with us this year and left feedback using our survey tool – thanks! Our leadership team analyzes every response and will continue to do so in 2025 and beyond.
Thinking about trying Silver Hill for the first time? If you have a scenario now, the best thing to do is to price it using our new small-balance commercial and DSCR rate calculators. Just enter a few basic fields and you’ll receive an estimated rate and next steps in your inbox.
