The "Big Boys" don't have anything on Emerald Home Loans", says James Payor, president of EHL. What exactly does he mean? James explains why being a smaller lender, like EHL has many advantages over bigger lenders:
"Many years ago, I realized that in order for a smaller lender to be truly competitive from a breadth of lending and control standpoint, they had to reinvest heavily to obtain the same status and all of the same tools that the big lenders can afford. The big lenders you drive by every day on the way to work or see advertising from on your computer or on the Super Bowl for that matter, truly don’t have any advantage over us."
How does EHL Lend?
"First off, is how and what we lend. This is important for helping all borrowers and providing a consistent experience. Some of these features are:
- Direct Lending: We process, underwrite and close your loan in-house, with locally based staff.
- Servicing: We are able to service your loan once it’s closed. This means you make your payments to EHL, always have access to your loan officer and excellent customer service.
- Broad Product Base: Many programs to serve most client needs. From First-Time Buyer, DPA, and grant loans to FHA, VA and USDA government loans to construction & renovation loans to Super Jumbo financing.
- Client Experience: Intensive surveying of our clients’ satisfaction through every aspect and step of the transaction. This helps us know what works and what doesn’t and gives our customers an active voice.
- High-tech/High-touch: Offering a holistic lending experience that included everything from face to face meetings to a truly digital experience online. As a dedicated lender to residential mortgages, we pride ourselves in doing it better, faster, more diversely and at a lower cost than a larger competitor."
What's the biggest advantage large national lenders claim?
James says, "The biggest advantage large national lenders can claim is that they have the financial resources to give you everything you need and that the mortgage will be an extension of that relationship or is reason in itself to establish a relationship. Even if that statement was true, can you see that we are offering the same thing on a more intimate scale. Is going with a large national lender worth sacrificing other aspects of the transaction?"
Not sure? Stayed turned for next week's blog
when James explains the reasoning behind "going local".
Did you miss last week's blog?
Click here to read more about the leader behind the vision of EHL.