Whether you are new to mortgage brokering or have been doing it for 20 years, it’s always helpful to add new tools to your “Broker Tool Box”.
- Easy NOA
Easy NOA is a document retrieval service that allows you to request CRA and non-CRA documents for your clients. Chances are you have had a client that is in the process of applying for a mortgage, only to find that they are unable to locate a key CRA (or non-CRA) document. You could go through CRA but we all know the time associated with that. This is where Easy NOA comes in.
They are able to access your client’s documents within 24 hours or less or it’s free. Our experience has been that they are able to pull the documents on average within 4 hours. We have also found them to be affordable, easy to use, and 100% secure. Our team uses their services regularly and would highly recommend you try them out.
To see their full list of non-CRA Documents you can click HERE and for their CRA documents, click HERE.To find out more about them, you can visit their website www.easynoa.ca
- Home Deposit Loans
This service has quickly become one of our favourites! Over the years, we have found that clients that are set to purchase another one often have the down payment tied to thahome. . The deposit on the new home is due before the sale is complete, but they don’t have the ability to pay it unless their current homes sale goes through.
Cue Home Deposit Loans. They offer a short-term loan to cover the deposit required on the new property before the existing property is sold. Their approval process is easy and fast (normal approval takes 24 hours or less). Their fees are more than reasonable, and the terms are excellent!
For instance:
- Interest rate of 9.95% with a minimum of 60 days.
- Low setup fee of $695.00 and legal fees of $395.00.
- All costs will be paid back from the proceeds of the sale of your existing property.
- No income documents required
Home Deposit Loans has helped many of our clients through those down payment hurdles! Check them out on their website www.homedepositloans.com
- Bundle 25
Bundle 25 is one of the best services you can have in your tool box! They provide you with GUARANTEED mortgage leads; something all brokers can use more of.
25 leads cost $500 with an average of 1 in 25 leads funding over time if followed up with properly. Speaking in terms of value and numbers, if the average file is $300,000 with a $3,000 commission that gives you a net profit of $2,500 (a 500% return on your investment).
The leads come from a highly reputable real estate firm that generates 1,200 leads per week. Bundle 25 collects these leads and sells them to brokers-easy, simple and guaranteed!
As an added guarantee, they offer broker support to ensure success and if the phone number or email is invalid, the lead is replaced within 72 hours, no questions asked.
Interested in learning more? Visit their website www.bundle25.ca
- OMVP & MJ Digital Marketing
Your clients are all asking it: What’s in it for me? The multiple email newsletters you send out, the follow-up phone calls and most methods of marketing leave clients feeling as though they walked away without benefitting from the transaction.
This is why we started using the OMVP marketing system. It’s a monthly email that is sent out to your clients featuring a new contest each month. There are no strings attached for your clients to enter-all they have to do is enter in their name, and email and they are automatically placed in the draw.
The benefits of this email system are multiple, including
- connecting with your clients in a positive way each month
- Keeping your brand top of mind without being “pushy” with your marketing
- Your clients genuinely feel that you care about them, not just the dollar value they represent
- Higher open rate (up to 36% open rate on average)
The system is offered through MJ Digital Marketing (they are fantastic with social media for brokers too!) check them out on their website: www.mariahjdigital.com
We are hopeful that these three services can help you continue to grow your business. We personally have had great experiences with all three and they have helped us to not only grow GLM Mortgage Group | Dominion Lending Centres but have also allowed us to better serve our clients.
***full disclosure on our part as we are a silent and investing partner in each of these services.
