The Niche Report is a monthly print magazine that LenderLab has a partnership
with. That means you, as a premium lender, get a free listing in the lender
directory portion of their magazine. Once your account is set up you'll be
contacted to provide the information you want displayed in the magazine. The
amount and depth of information will depend upon the type of account you have
with LenderLab. Basic Premium lenders will get a basic directory listing
(non-members pay $149), while "Premium Advantage members" receive a "Premium
Niche Listing" as well as the "Basic Directory Listing," (priced at $495 for
non LenderLab members).
The answer depends upon what type of lending you do, and how unique your products are. Our lenders report everything from a TREMENDOUS amount, to not much.
Obviously there's no way to predict where you fit in, but it is possible to employee a few tried and true strategies that will increase your traction, and our loan analysts
can advise you of some of those once they've seen your lending guides.
LenderLab has over 200 search criteria covering just about every niche imaginable. That lets us input your guides in a way that makes your uniqueness "searchable. Our niche criteria
include things like "log cabin" or "non-arms length transaction" and this is what our brokers primarily use us for; -to find lenders for scenarios that have one or more attributes that make
it just a bit off-the-beaten path. Most likely we have criteria to cover every niche your company offers, but in the event that we don't, we'll happily add a new one. Since the melt down
though, the trend has been towards more generalized searches for scenarios with better credit that will often qualify for conforming financing. For that reason we've branched out and
have begun to offer conforming products as well. Suffice it ta say that at this point we're offering pretty much everything.
LenderLab is rate neutral. We do that for a couple of reasons. First, we know that when our users come to us their usual sources have already failed, and their most immediate need
is to just find out if anyone offers a program to fit for their current scenario. Once this crucial first step is taken care of, we're happy to hand off the pricing to you, and our system
provides simple tools to facilitate it. This is the key difference between LenderLab and the other loan search engines out there, often referred to as "best execution engines" or "product
& pricing engines" (PPE's), and it's what makes us unique. Instead of showing who has the best rate for a small number of lenders, we focus all of our efforts on having the most
comprehensive depiction of eligibility only, and we're happy to be the one and only engine that can really tell a broker if a given scenario can be done. That's what's kept us in business
all of these years and it's only become more important now, as programs have tightened and sources continue to disappear.
You'll need to make one if you want to be listed in LenderLab. Some of our commercial and hard money lenders make a basic matrix for us so that they can at least
have some kind of basic listing in LenderLab, but your programs will usually perform better if you can be specific.
No, service is on a month-to-month basis. If you want a BASIC FREE account we just have a short sign-up form with some basic details about your company and of course
you can quit anytime you want. For Premium accounts there is a basic contract outlining the price and type of service. Premium Advantage members will be required to sign
up for a yearly account only if they wish to have access to the marketing list.
Yearly accounts are required for Premium Advantage members who want to have access to our marketing lists. If you don't want the marketing lists and you still want
a Premium Advantage account you can opt for month to month billing.
If you are interested in the Premium Advantage level you may qualify for a discount depending on how many states you're in, and what type of lending you do. For the
lower levels; -Basic Premium and Premium Plus, the price is already so low ($199 and $399) -it really doesn't make sense for us to lower it even further. Call in to discuss
your options.
First off, you have to actually be a lender, not just a broker posing as a lender. We understand that you may not close ALL loans in your own name, especially if you're a
commercial or hard money lender, and that's okay. But you have to close some, and when you sign up you'll be asked what percentage of loans you typically close in your
own name. Based upon that, your licensing, and other factors, we'll determine whether or not we think it's a good fit. Assuming it is, you're up and running in a few weeks.
After that you simply need to keep us posted as changes occur, and unless we receive complaints from our brokers (we seldom do), then you're in and everything's good.
Sure. If you're something else, say a credit bureau, you can have a free listing in our "Industry Directory." Additionally, you may want to advertise with us and can learn more
about our advertising opportunities by clicking here:
Advertise With Us
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