Wholesale lender’s “first of a kind” promotion revealed

“Brokers want to wow their real estate agents and have the confidence that they can get a loan closed quickly when they’re talking to their client. A lot of things can go south if a loan extends and takes 40, 50 or 60 days, so getting a purchase loan to closing quickly is incredibly powerful and beneficial to our partners.”

The latest promotion is Rocket Pro TPO’s second big announcement aimed at improving how brokers’ loans are processed. In late January, the company launched the Crews program, giving each broker partner direct access to a small, dedicated team of mortgage experts.

Randolph said Crews had been well received by the broker community. He said: “It’s had a lot of initial momentum and our partners are loving it. That’s one of the great things when you’re working with partners – it’s not transactional. When you’re creating these crews, you build relationships with the team members that are the underwriters, the closers and the title coordinators.”

The company’s aggressive campaigns and promotions – it also recently launched Purchase Power Play, offering 30 basis points off its pricing – are ostensibly aimed at giving its broker partners an edge over the competition, but it’s also happening at a time of extreme uncertainty in the mortgage industry, with companies shedding jobs amid excess capacity concerns.