Benefit Details Page
Real Estate Professional Challenges
- Realtors® and lenders typically work opposite schedules, with realtors working nights and weekends and lenders working business hours.
- Realtors desire to have a pre-approval letter accompany an offer to strengthen the offer in the eyes of the seller.
- Realtors prefer to have the letter reflect the offer price and terms. Most lenders issue an initial letter that details the maximum purchase price a buyer may be qualified for even thought the offer price is below the letter’s maximum price.
- Realtors may want to further customize an offer letter with seller names, buyer names, property address, and other variables that the lender may allow.
- Communication is key. Therefore, its important for all parties (lender, Realtor, buyer) to know about any changes to a pre-approval letter.
- Aside from the price and terms of an offer, the Realtor always wants to distinguish their offer from others for information integrity, accuracy, and completeness.
How LenderLetter.com solves Realtor challenges
- LenderLetter.com is an online application that facilitates lenders to create dynamic and on-demand pre-approval letters for Realtors and their Buyers. An authorized Realtor may log into LenderLetter.com and update letters for any one of the buyers that the Realtor is working with at any time…day, night, or weekend.
- LenderLetter.com allows Realtors to distribute each newly created letter in a few different ways. First, letters may be instantly downloaded/saved as a .pdf file to any device able to log into the LenderLetter.com application. Second, each letter may be printed on-demand (LenderLetter.com supports both Letter and Legal sized paper, selected by the lender, so any target printer must have this paper size flexibility). Finally, any letter may be natively emailed to one or more recipients using the built-in LenderLetter.com email engine.
- With the buyer’s approval, the Realtor may perform edits of the pre-approval letter within limits the lender has established. Realtors want each pre-approval letter to reflect the offer price and other terms that have been articulated in an offer to purchase. This is precisely the problem that com was created.
- Personalization/Customization of each letter is important. Recipients are more likely to feel a greater effort was placed on crafting the pre-approval letter when details specific to the seller have been included in the letter. With our application, Realtors can now insert all the pertinent information to further instill confidence in their buyer’s overall offer.
- Every time a letter is edited, it is saved with a date/time stamp. In addition, the details of what was changed, when it was changed, who changed it, and how much was it changed, is immediately emailed to all parties (lender, Realtor, buyer).
- Because each pre-approval letter includes a unique feature allowing any recipient to authenticate the letter using a Patent Pending two-factor authentication system, by scanning a simple QR Code, any letter recipient may validate the information in the letter. This proves the letter they received is indeed accurate and authentic.