A few days ago I posted about a loan processor that has some spare capacity who I thought might be able to do some work for some other people.

I've had quite a few responses from that and I noticed some consistent themes coming up.

Firstly:

The role of the broker is to find clients, structure deals (and sell the client on why what you've selected is appropriate) and manage any CREDIT CRITICAL conditions.

You should be looking to offload anything not on that list above ASAP - yes - even if you're brand new and think you can't afford it. Sacrifice. Your 'business' is not a business if it's just you. Think like an investor. Re-invest.

Second:

Broking is a conveyor belt. This is how it should run.

Client reaches out.
Client makes the decision to use you.
CLIENT enters data into your system (not in a PDF, not over the phone, not via email. Not by your PA, not you, not a loan processor. Doing any of these things will slow you down. If you feel the clients won't do it, you need to work on your authority).
Broker does high level overview and checks credit critical info, gives the clients OPTIONS, but tells the client what to do (that's why they've come to you. Don't stuff around by putting the decision back in the client's court. That will erode trust. If you do this and wonder why you lose clients, now you know).
Once the client confirms, the deal is handed over to PA or loan processor (there is a difference. Will explain below).
PA checks details, enters into AOL, prints docs, emails out and follows up for return.
Once back, the broker might check over and hit the submit button.
Everything else is done by PA, except for any conditions that are CREDIT CRITICAL (i.e. the bank doesn't agree with your servicing assessment).
You make a call to say 'congrats on settling. We'd love more clients like you.'<

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