NWM Prioritizes California Realtors’ Business as Mortgage Lenders Struggle to Keep Up

If you’re a realtor in California, very few things are worse than working hard to get a deal in escrow only to have your mortgage lender go MIA. With refinance volume at an all-time high, this scenario is becoming all too familiar. Trust us, you are not alone, and in fact, this is the story we’re hearing daily.

With lenders focused on dealing with pipeline issues due to the influx of refinance loans and disruption in industry caused by COVID-19, many lenders don’t know if they are coming or going, let alone whether or not they have the bandwidth to keep loans from falling through the cracks. And if it’s your deal that falls through the cracks, you’re the one scrambling to deal with the fall out and trying to keep the deal together. It’s exhausting, right?

Luckily, New Way Mortgage is here to save you from this madness and make your business our priority. Here’s exactly how we’re doing just that.

1. We’re Not a One-Man, One-Phone Shop

If you’re tired of going straight to voicemail, hear us out. When you call, text or email New Way Mortgage, you’ll have the good fortune of talking to any one of our team members, and the best part about that is that we’re all licensed loan originators. Any one of us can look at your file and immediately tell you what’s going on and provide an accurate status update. You don’t have to wait for Bob to call Liz and Liz to call underwriter Dan and wait for underwriter Dan to call back two days later. Nope, not at New Way Mortgage.

There will be no waiting for Bob to call you back when he has a minute (which, let’s be honest, could be tomorrow). And there will be no figuring out what you’re going to tell your clients while you’re waiting for Bob to call you back because he needs to talk to Liz and Dan first. Giving you immediate answers is the name of our game.

We’ve also maintained a full-time operations team even during the pandemic, ensuring our service levels stay 5 ***** or better (is that possible?).

2. When We Say We’ll Close Escrow on Time, We Mean It

The California mortgage industry and real estate world have been turned upside down from the unexpected challenges presented by COVID-19. Then you add in unprecedented refinance volume due to low rates, and you basically have the perfect storm. Even though your lender says your business is their “top priority,” the $10 trillion dollars in locked loans on their balance sheet is really the top priority . . . everything else can wait.

As a mortgage broker, we don’t operate that way. So, here’s what we’re doing at New Way Mortgage to ensure your loans close on time. First, we give your file a lot of attention up front so that we know what we need to do to make sure it closes on time.

Next, since we work with many lenders, not just one, we place loans only with lenders that will meet your deadlines. That’s right, we wear the pants in this broker-lender relationship. In fact, we’re almost too fast for most escrows, but we never get complaints when the docs are at title early!

We also run every file through Fannie and Freddie’s system to check to see if a property is eligible for an appraisal waiver. If it is, we all do a happy dance. If we need an appraisal, we work with several top-notch appraisal management companies to ensure that we can get the report on time, every time. These companies follow all COVID-19 health and safety practices that local authorities recommend.

3. We’re Honest and Upfront the Entire Way

At New Way Mortgage, we have a communication system we use every single day. We were using it before COVID-19, we’re using it now, and we’ll continue to use it after. This system ensures that all of our California realtor partners and clients get clear communication the entire time—from pre-approval, throughout escrow, and beyond.

Someone from our team actually picks up the phone and calls everyone at least once a week, and you’ll also get texts, video messages, and emails from us, too. We over communicate because we’ve never heard someone complain about a mortgage company that communicates too much. This also gives us opportunity to ask for referrals, which we refer back to the realtor who was the original source.

And last but not least, we already relied heavily on video conferencing prior to COIVD-19, but now we’re making it a standard offering for all clients and agents. So, if you want to meet to strategize about how to generate business, connect with more leads and create more brand awareness during this time, all you have to do is ask. We’re always just a Zoom call away!

If you’re a California realtor who’s ready to break up with your lender and find someone who will give you the attention you deserve, give New Way Mortgage a call or send us a text at (916) 465-6NEW or email us at hello@newwaymortgage.com, we’d love to chat and meet for a virtual coffee date.