LenSpect.com useful educational tool for industry newcomers

LenSpect.com useful educational tool for industry newcomers

LenSpect.com useful educational tool for industry newcomers

When green brokers and agents come on to the scene, they must develop those crucial lender contacts — and while everyone knows a Scotia or a TD, it’s less common to have preexisting knowledge of AAREA Private Lending or Vault Mortgage.

LenSpect.com is a great tool for newcomers to the industry because it hosts so many lenders all in one place, giving mortgage brokers direct access to the lending criteria of high-quality private mortgage lending companies in one spot. Each company has its own dedicated page and can post broker kits and products, which means with a few clicks it’s easy to see what’s being offered and learn about the lenders themselves. There’s also a contact form on the company’s own page, meaning brokers can get in touch directly with the lenders from the LenSpect.com website.

“Promoting our services to mortgage professionals that are brand new to the industry is a constant challenge, but a necessity for business growth,” said Shannon August of AAREA Private Lending. “We, at AAREA, feel that LenSpect.com will help with that hurdle, as we believe it will be a widely used tool by both new and senior mortgage professionals alike, and provide great exposure for our company.”

When a newly licensed broker joins a brokerage, they likely don’t know who the major players are on the lending side, let alone the niche they might have or their lending criteria. The site puts lenders in the palm of these newcomers’ hands without them having to search each company out individually, making it a simple, time-saving tool to find out who does what — especially when the brokers aren’t familiar with non-bank, non-traditional lenders. LenSpect.com creates an immediate access point to those lesser-known lenders.

It’s also a handy resource for brokerages to offer their new brokers to help them gain experience and build those essential contacts, and allows brokers to maintain control of where a deal is sent. They don’t have to worry about shopping the deal to inappropriate lenders or putting it out for bid on a public site, which keeps client information private. It’s a useful tool on the lending side too, as these lenders receive target market exposure to brokers easily. It saves time during the origination process as both sides are only working on deals they know fit the criteria.

“The private lending landscape is very diverse — it can be challenging for agents not familiar with the space to find the tools necessary to present a competitive offer to their borrowers,” said Emerson Dias of Vault Mortgage. “I think the resources on LenSpect.com are a great educational tool for agents looking for an easy reference point to understand what options and terms are available out in the market to help serve their borrowers best.”