I have seen several mortage brokers who say they are licensed in more than one state.

If you are licensed in CA and IL, with your brick and mortar office in CA, how do you find clients in IL and once you find them how do you instill faith that you are legit etc?

I ask because I think most people are accustomed to and feel comfortable with the in town broker. I know things are done via email etc but how do you overcome the skepticism?

I have come in contact with two MB who have encouraged me to use them for my 'deals' and they don't have a brick and mortar office in my state. If I had a deal they would dispatch someone to the client to take the information etc. Everything would be done face to face at the clients office or home, at the clients convenience.

I have no problem with using them but want to know how you get out of state clients over that hump?

Thanks in advance.

With the company I work with it's not a problem as long as we have a branch office in that state. I would simply work w/the branch manager of that particular office as well as research that state's guidelines from our branch. The branch mgr in the other state is my best resource as the person most familair w/practices locally.

Each state has it's own set of rules, some states will allow out of state residents to become lic'd to originate loans in that state via a real estate lic or whatever that state requires. Here in CA it is a real estate lic.

I think many customers are aware that we live in an electronic age. They know everything is done via email and overnight mail and even if the mortgage company is local the likelihood of them having to go to the office is low.

I deal with customers from all over the country and get many of my leads from the internet, The harder part is not that I'm out of state but that I am an "Internet Company"

Of course I am not an internet company as I have an office in Tampa, Fl. but the words "internet Company" come with additional responsibilities

I must earn their trust as there is too much fraud and the internet makes for easy targets. i earn their trust as follows

1. I never ask for their social security number, I don't get that until they have spoken with me several times and fill out the familiar loan application. same as a local company would have them fill out

2. I spend all the time they need to answer questions and help them understand the loan they are getting

3. I collect NO FEES, I can't imagine working with an unfamiliar company that is not local and sending them money, so I can't expect my customers to do that.

4. I stick with the process local lenders use - I have them pay the appraiser at the door (He/She is local), They work with a local title/escrow company, local real estate agent etc.

5. I work the local hours, I'm on the east coast and work late to accomodate west coast borrowers

Although I am not local most of my customers don't care. In some markets customers see a huge benefit as my cost of living is lower and can result in better deals

Danny

I do some Referral work for a company that has lenders in all states.

90% of the time, we can help people.

All the details are in my signature.


Mark

Thanks OnePlus!

I definitely think people are wary of scams and I do think your approach would help potential customers get past their anxiety.