Lendersa® Portal welcomes all lenders to receive loan requests (leads) and close transactions.
On the Lendersa® Portal, the term "Lender" is a general term that refers to any type of Lender. Lendersa® provides specific guidelines for interaction between Mortgage brokers, Direct Lenders, Hybrid lenders, Retail lenders, Referral lenders, and Wholesale lenders. We recognize that some lenders could be acting in several capacities (For example, a mortgage broker can act as a Direct Lender, Retail Lender, and wholesale Lender)
There are different opinions on what constitutes a Direct Lender. At Lendersa®, we call a Direct Lender any lender who has all the three attributes below:
1. The Direct-Lender underwrites and delivers final approval
2. The Loan documents bear the name of the Direct-Lender
3. The Direct Lender has the money ready to fund the loan
Retail Direct Lenders can be accessed directly by the consumers. Banks, Credit Unions, and most Hard Money Direct Lenders are Retail Direct Lenders. Retail Lenders can also be Wholesale Lenders.
Exclusive Wholesale Lenders are Direct Lenders who fund 100% of their loans through Loan Brokers. Borrowers cannot reach these Exclusive Wholesale Lenders directly. All Wholesale Lenders are always Direct Lenders, but not all of them are Exclusive Wholesale Lenders.
Hybrid lenders are Direct Lenders who also double as Loan Brokers. Hybrid Lenders can also wear the hat of a Wholesale Lender.
Hybrid Lenders can be Wholesale Lenders but never Exclusive Wholesale Lenders.
Starting in 2025, When Loan Brokers submit a loan request, it will be directed only to Wholesale Lenders. Loan requests submitted by Borrowers or Real Estate Agents are transferred to Lenders and Brokers with relevant PLCs and LIPs.
Most Borrowers do not know how to present their loans directly to lenders and would greatly benefit from the advice of an experienced broker. Also, some of the best Lenders are strictly Exclusive Wholesale Lenders who fund only through Loan Brokers. The only way to reach those great lenders is through a Broker, and Borrowers may be denied the loans they need unless they work with a Broker who can submit their loans to wholesale lenders with the capacity to fund the loan.
Borrower places a loan request on Lendersa®.
Registered Brokers and Registered Direct Lenders pick up the request.
B1. Retail Direct lenders work directly with the Borrower
B2. Loan Brokers package the loan file and submit it to Direct Lenders.
The Borrower negotiates and then selects the most appropriate Broker or Direct Lender.
The winning lender funds the loan. At closing, the Direct Lender or the Loan Broker who originally received the lead pays the Lendersa® marketing fee.
Brokers prefer to submit their loan requests only to wholesale Lenders. Submitting loans directly to wholesale lenders avoids the brokers' chain and allows the Brokers to control the loan cycle, speeds up the closing, preserves the broker commission, and saves money for the Borrowers.
Also, the brokers receiving the leads would much rather deal with Borrowers directly than with Brokers.
Starting in January 2025, requests submitted by loan brokers will be delivered only to direct Wholesale Lenders.
A .Registered Broker places a loan request on Lendersa®
The lead is then delivered only to Wholesale Lenders with matching profiles
The submitting Broker negotiates with the Wholesale Lenders to select the most appropriate
The winning WholeSale Lender funds the loan. At closing, the funding lender pays the commission to the submitting Broker and pays the Lendersa® marketing fee.
Most Borrowers only care about getting their loans funded. Brokers and Lenders, on the other hand, need to know who they are dealing with to avoid Brokers' Chains and save time and money. The lending market is complex and fragmented, and Lendersa® is not attempting to change it; but only squeezing out the benefits for Borrowers and Lenders alike.
Lendersa® is more than a mere lead generation website; our goal is to bring efficiency to the lending marketplace, and our first vital task is to understand the needs of each Lender's type. For example, an Exclusive wholesale Lender does not want leads from the borrowers directly, while Loan Brokers only want leads from the Borrowers directly. There are more subdivisions among the types of Lenders, such as residential, commercial, and vacant land Lenders, loan positions, 1st position, 2nd position, 3rd position, HELOC, etc. More subcategories include Conventional Lenders, DSCR Lenders, SBA Lenders, FHA Lenders, Reverse mortgage Lenders, USDA, VA, and Hard Money Lenders categories.
Knowing how to use the Lendersa® portal will bring you more leads and cut the time you spend on unworkable leads. Study the short articles in the links below for your success.
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