Benefit Details Page
September 27, 2016
“Why didn’t I think of that?” That’s the reaction most lenders have when they first hear of LenderLetter…
The benefits to the lender are multi-fold. The primary benefit is that the lender only needs to do one pre-approval letter for a buyer that should suffice up until a property is secured, the loan funded and the transaction closed. Because the lender does not need to manually re-write and update the pre-approval letter potentially many times, it frees up their schedule to spend more time opening and closing applications with new borrowers. The busy lender no longer needs to spend their precious time or allocate resources returning calls and emails to agents and buyers requesting a new or updated pre-approval letters. Now, lenders, who are LenderLetter subscribers, can fully enjoy their weekends and evenings and sleep better knowing their buyers and real estate agents are in good hands with LenderLetter.
Only LenderLetter offers this unique opportunity and service. LenderLetter allows the lender to establish parameters on the pre-approval letter that the lender, solely controls. This enables your buyer and real estate agent to make changes to the editable fields in the pre-approval letter pre-authorized by you. The most important change and the one that fuels the most calls, emails and texts from agents is the price. Not to worry! The price field on the pre-approval letter can be updated or changed any time and day up-to-the-limit set by you. Another convenient benefit that LenderLetter provides is the ability of the agent or buyer to update or change the date and property address on the pre-approval letter. This insures that both the date and property address are the same on the offering paperwork and the pre-approval letter. Nothing is more frustrating to agents then having different price or terms on the pre-approval letter then the price and terms indicated on the purchase agreement.
In case you’re wondering who may be updating your letter and when it’s being updated, LenderLetter immediately notifies you automatically of any changes to a pre-approval letter via email. When a change or update is generated by the buyer or agent it instantly creates a new pre-approval letter via pdf format with a date and time-stamp upon delivery. LenderLetter will keep you posted up-to-the-minute with all of your buyer and agent clients. More importantly, LenderLetter will give you peace of mind.
LenderLetter allows you to use our pre-designed templates or you may create your own custom designed pre-approval letters within our web application. It’s as easy as cut and paste. There are multiple fields to choose from allowing you to easily design the pre-approval letter the way you and/or your company requires. Of course, the pre-approval letter will be created or printed with your letterhead and logo. In case you were wondering, LenderLetter is not a lender nor your competition. We are here to help streamline business and improve your bottom line.
An important benefit to you the lender and your agent partners is that LenderLetter is a powerful tool that can be used to strengthen existing agent relationships and forge new ones. Real estate agents will appreciate and come to depend upon the instant, on-line access 24 hours, 7 days a week of LenderLetter.
Another added benefit with LenderLetter is that that you the lender partner can include the real estate agent’s company and name on the pre-approval letter. This is typically inserted as a field in the cc section at bottom of the letter. This further secures and confirms your strategic alliance with the real estate agent and enhances the real estate agent to buyer relationship.