Find Value and Success in Small-Balance Commercial Lending

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The great Albert Einstein once said, “Try not to become a man of success, but rather try to become a man of value.” While Einstein in his brilliance may be right that value can be greater than success, many have found success by having more value to offer than competitors.

With the current level of uncertainty regarding interest rates and the housing market in general, it’s best that mortgage originators begin to look for other strategies to ensure success for the rest of the year.

Small-Balance Q&A: The Silver Hill Lite Doc Program

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Commercial borrowers have specific needs that must be correctly identified and matched to the right mortgage program. Some of these needs are easier to address than others.

Many borrowers, including different types of self-employed professionals and entrepreneurs, struggle to provide tax returns that accurately reflect their income. Unfortunately, most traditional lenders require this information. If you have a client facing this type of situation, you’ll need to find a different solution to secure the funding they need.
To prove my point, read the two stories below from borrowers with very different needs. Believe it or not, the same program could help each borrower get the funding they need.

7 Top Small-Balance Commercial Marketing Channels

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Have you ever heard a marketing expert talk about the importance of “getting your name out there?” In the commercial mortgage industry, effectively broadcasting your ability to close commercial loans can only be accomplished through the adoption of a multi-pronged marketing strategy.

Focusing your efforts on the following 7 channels can help you increase small-balance commercial production by connecting you with potential clients and new referral sources.

How to Rock Your Business with Social Media – Part 2

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We all know first impressions are important in the business world. It’s why we dress up for job interviews and rehearse our presentations before meeting with a new group of potential clients.

The problem is that these days most first impressions occur long before you meet face-to-face. Referral sources and prospective clients in today’s market search your online presence to see if they should make the effort to meet with you. If your profiles are incomplete, uninteresting, or out-of-date, you could lose their business.

How to Rock Your Business with Social Media – Part 1

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Do you ever get those solicitation emails from social media gurus? The ones that invite you to pay big bucks for a course that will teach you how to market your business on every social channel? The problem is that most of these gurus can’t tell a rent roll from a dinner roll. They think seasoning is what you put on steak and a balloon is what you get on your birthday. In other words, they aren’t familiar with the mortgage industry. The thing is, social media platforms like LinkedIn, Facebook, and Twitter provide a real opportunity for brokers to expand their network and grow their business. But you won’t get the most out these channels by adopting generic networking strategies.

Be a Solution Provider

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Stop me if you’ve heard this one before. Your borrower owns a mixed-use building and has a 30-year mortgage with a well-known bank. They consistently made their payments for the past five years, but now they’ve reached the end of the balloon term and it’s time to refinance. This has never been an issue in the past, but now the bank’s lending guidelines have changed and your borrower’s property falls outside their shrinking footprint.