Why this private investment lender is refocusing on brokers

Lender has learned that brokers are the necessary link in the mortgage chain

Why this private investment lender is refocusing on brokers

LendingOne was founded as a private real estate investment lender with a straightforward ethos: they were investors helping other investors. They financed fix and flips and coordinated single family rental (SFR) loans to help thousands of real estate investors. They went direct to the investor and while it drove initial success for them, they learned in recent years that a piece was missing: the broker.

Through a nascent wholesale channel LendingOne’s leaders quickly learned how well brokers could cut through the time-consuming minutiae of investor lending. These partnerships allowed LendingOne to do what it does best - deliver solution-based loans to investors with a level of experience shaped by working as investors themselves. Now it is refocusing its efforts on the wholesale channel, seeing an opportunity for its expertise to mesh directly with what brokers bring to the table.

“Brokers are the keys to our success today and for the future,” said Mark Zummo-Hurley (pictured), wholesale manager at LendingOne. “By strengthening and supporting this relationship we know that brokers will ultimately gain a financing partner that will assist them in growing both their marketing and economic efforts.”

Based on their existing experience with the real estate investment market, LendingOne’s leaders have developed a product set designed to meet the unique needs of today’s real estate investor. In addition to bridge loans for fix and flips, rental purchase and refinance loans, they also carry new construction and multifamily products. Notably, in today’s highly competitive SFR market they offer a portfolio loan program designed to help existing landlords leverage their properties to expand or improve their holdings. As bigger institutional players start playing in the SFR space, that product can work especially well for a broker’s investor client, keeping them well ahead of the curve, while expanding a broker’s loan volume by multiples.

Beyond just its product set, LendingOne offers brokers a chance to work with a lender and a lending culture directly aligned with their clients. Zummo-Hurley explained that within a minute, LendingOne can generate real-time quotes for brokers. Its portal offers brokers a CRM to track any deal in the loan process, while leaving direct open communication channels between the loan processors, wholesale managers, and brokers. Response times, he said, are within minutes.

“Knowledge is power,” Zummo-Hurley said. “And we back that belief up by giving the broker access to a quick pricing tool directly inside of the portal.”

That level of speed and access is a must-have in today’s market. Zummo-Hurley explained that since the COVID-19 pandemic began, “a day is now a week, and a week is now a month.” The expectation is instant communication and speedy resolutions. The world and the housing market are still changing at a breakneck pace and any broker requires an unprecedented level of speed from their wholesaler.

Read more: Greystone adds industry veteran to its Portfolio Lending Group

In marrying speed with an innovative product set and expertise in the investment space, the LendingOne team believes it has crafted an ideal offering for brokers. It offers competitive compensation rates and ensures that the broker remains in control of the client relationship.

“We offer solution-based lending that all investors need and is carted directly to the investor and their financial profile,” Zummo-Hurley said. “We are quick, responsive, and can close on time. Our compensation structure is very competitive and payments are often given the same day of closing via a bank wire. We offer industry-leading technology with a user-friendly aspect that makes doing business with LendingOne a pleasure and not a pain.”