Loan Swap
No, it's not a new reality show...
Loan Swap is a great program available through LenderLister as a resource for Loan Originators to swap loans they can't do, for loans they can with other Loan Originators. Here's some of the details:
Trade any live mortgage lead that you are unable to do because of state licensing issues, or niche loan types such as FHA, reverse, agricultural, commercial, construction, veterans, manufactured, condotel, Coop, business lines of credit, all loan types except land for now. You will receive a live loan lead in the order of which you submit a successful live loan lead.
We all know what a successful live loan lead is. It's that deal you get that is perfect, except you aren't allowed to do it, or you just don't do them. The honor system insures quality and success. Your membership profile is a filter that insures that you only receive the types of loans you are able to close.
It is against the law to collect a commission on a loan you refer to another Mortgage Broker. With a Loan Swap membership you're setting up a mediated referral system that is run by 3rd. party human beings. Loan Swap employee's manages fair, and quality live mortgage lead rotation among all loan originations platforms in the USA.
Tough Times Bring The Best Innovation.
