Gary Opper, president, Approved Financial Corp.

As published in Scotsman Guide's Residential Edition, April 2005.

Many mortgage brokers might not take the time to investigate the easy niche of hard-equity loans simply because they feel they are too difficult and time-consuming. But hard-equity loans are not hard.

No credit, employment or income verification are required to close hard-equity loans. They also can help you serve your clients effectively and increase your profits dramatically.

Hard-equity loans are a simple way to maximize profits and do not take much time. Allowing for rapid approvals, quick closings, flexible loans, access to stable lenders and more, they can fatten your wallet with little time commitment.

Here’s a quick look at hard-equity loans’ benefits:

• Simple process: Hard-equity loans require a one-page application, at most. The lender usually processes the loan.
• Rapid approvals: With your concise application, a hard-equity lender can approve your loans the same day the application arrives. This will allow more time to explore other marketing tactics to increase your profits. Your fellow borrowers will appreciate your fast response.
• Quick closings: There are few requirements neeed to close a hard-equity loan. Each is based primarily on property value, so all you need is a realestate valuation. This can be a lender inspection or an appraisal. Additional requirements include title insurance and homeowner’s insurance as well as proper state and federal disclosures.
• Increased volume without increased cost: It costs little to add the hardequity-brokering niche Just add your service information to your current advertisements, fliers and faxes.
• Flexible and diverse loans: Each loan is unique based on borrowers’ needs. The loan will cater to the clients’ needs, not the lender’s matrix. It is beneficial to step outside the box to better accommodate your customers with a hard-equity loan.
• Access to stable lenders: Build substantial relationships with stable hard-equity lenders. They often are smart, consistent and dependable. Once you have cultivated relationships with lenders, you can rely upon them to supply you with the money your clients need.

Hard-equity loans’ speed in approvals and closings means more closings for you. More closings equal more income. Thus, hard-equity loans are a simple way to expand your business, your company’s services and your wallet.

 

Gary Opper is president of Approved Financial Corp., of Weston, Fla., a licensed mortgage lender. Opper has been a Florida hard-equity mortgage lender and national-note buyer since 1984. He holds certified-public-accounting and certified-financial-planner licenses and is a mortgage consultant. He is a member and past president of the Florida Association of Mortgage Brokers, Miami Chapter, and the Gold Coast chapter of the Florida Institute of Certified Public Accountants, as well as a member of the National Association of Mortgage Brokers and American Institute of Certified Public Accountants. Please contact him to arrange a speech for your event by phone at (954) 384-4557, by fax at (954) 384-5483 or by e‑mail at approv01@aol.com.