The Importance of Speed In Today's Mortgage Market

The Importance of Speed In Todays Mortgage Market
In today's real estate marketplace a great mortgage broker can be the difference between a real estate deal going through or not. Not just the mortgage approval, which is arguably just as important, but the speed in which a mortgage broker can pre qualify, pre approve and approve a mortgage file for their customers and referral sources. 
The Westlake Team, Part of DLC National is continually investing in technology and infrastructure to ensure our clients and referral sources can act fast.  Mortgage brokers need to be able to quickly pre approve a client, prepare them for purchase and move fast if there is a short condition period.
Here are a few ways TWT is moving faster than our competition:
1. Pre-Qualifications in 60 seconds: Granted a pre-qualification is not fully underwritten, its a quick and close to accurate gauge on what a client qualifies for.  We are considering income and debt and home ownership costs, we just are not verifying the documentation. Not only can we gauge a clients ability to qualify the client can understand closing costs, monthly mortgage payments and other key information to be prepared for a purchase and home ownership. To try out our mortgage app:
2. Same day pre-approval:  Our team will pre-approve any client same day. For our top referral sources we are pre approving in under 30 minutes assuming we have proper documentation. Our pre-approvals are fully underwritten. We review income up front, obtain authorization to pull credit, will discuss with client and realtor if that helps to align the team.  A lot of pre-approvals we see in the industry are not fully underwritten, not even as accurate as our pre-qualification and have long turn around times.
3. Digital Application Process: We have fully integrated the mortgage process online be it mortgage pre-approval, mortgage for purchase, mortgage refinance or mortgage renewal. We can obtain an application and credit consent online versus paper application, collect documentation securely and digitally and take our client from start to finish all through our online application. To apply online:
4. We have a team approach: Technology enhancements are great but without a team to service clients its all for nothing. We have 2 to 3 people dedicated per mortgage file. This means the client(s), referral source, lawyer and any other key parties involved in the real estate transaction have access to the team for support.  No files are left alone to one individual so there are no delays during vacation, busy upticks in the market and there are multiple points of contact.
5. Dedicated Underwriting: Last but not least, our team has dedicated in-house underwriting. At any stage any client and referral partner can get status updates on our file. Its extremely important to know the status of the file in preparation for buying or closing up a mortgage for purchase, refinance or renewal. Dedicating underwriter per mortgage file ensures the client and referral partner know exactly where the file is at any given moment and this inside access to the file helps make quick decisions on the spot.
For more information on working with The Westlake Team (TWT), as a client or referral partner, email or call or text 416-436-1135.
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