Some brokerages run an underwriting or deal desk that helps brokers structure and place hard files, such as self employed, B lender, private and commercial deals. Ask who staffs it, which files it takes and what it costs you.
Underwriting support means someone with lender and credit experience looks at a file before it is submitted, suggests the structure and the right lender, and sometimes places it. It matters most on files that do not fit an A lender: thin or damaged credit, complex self employed income, private and construction lending, and commercial deals.
The claim is easy to make and hard to deliver. Test it: bring a real file you could not place and see what happens. Ask how fast you get a first view, whether the desk will talk to the lender directly, and whether help comes free or in exchange for a share of the commission on that file.
A desk that only reviews A lender files is a compliance check, not underwriting support.
A.I.M.I. Collective runs a Deal Desk that supports brokers on commercial, B and alternative files, in exchange for a commission split on the files it works. Brokers keep their own lender choice on everything else, with direct access to more than 100 lenders.
How the Deal Desk works and what to ask any brokerage that claims one.
Underwriting support for mortgage brokersSix things that decide whether a new mortgage agent funds files in year one: training, a mentor, lender status, underwriting support and a 90 day plan.
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