Enhancing the wholesale broker experience: Key challenges and solutions

HousingWire recently spoke with Aaron Drago, chief operating officer of Deephaven Mortgage, about the wholesale broker experience and how it can be improved.

HousingWire: What are the current challenges wholesale brokers face?

Aaron Drago: In today’s market, wholesale brokers face several challenges. Not only are they navigating a market that continues to bring changes and fluctuations, but they are also challenged with the need to interact with multiple different companies and platforms. This means keeping up with various guidelines, processing, underwriting and closing processes outside of their company. Additionally, they deal with varied systems, timelines and documents, which can make the process cumbersome and time-consuming.

Deephaven Mortgage understands each challenge and is focused on streamlining the process to provide brokers with a more seamless and efficient experience. We continue to invest in technology and processes that make it easier for brokers to work with us as a direct goal to reduce the administrative burden on their end. We also provide dedicated support and resources to ensure that brokers have access to the information and guidance they need to succeed.

An example of this support is our scenario desk. Originators can send us a loan scenario with questions or requests for help. We will walk them through that challenge, assist with calculating income derived from bank statement submissions, review credit, explain guidelines or assist in any way to ensure a positive experience.

HW: What changes would improve the wholesale broker experience?

AD: To improve the wholesale broker experience, Deephaven Mortgage is focused on several key changes. First, we are working on streamlining system integration to ensure that brokers can easily access and use our platform.

We are also providing consistent, dedicated support and experiences. This includes readily available contact information, so brokers can easily reach out to us with any questions or concerns.

Automation is another key change we are implementing, which will reduce manual processes and increase efficiency. Finally, we are improving online visibility, so brokers can easily track the progress of their loan and have more visibility into the entire process. By focusing on these changes, we aim to make the wholesale broker experience smoother, more efficient and ultimately more successful.

HW: What does the future of the wholesale channel look like?

AD: The future of the wholesale channel is all about being fast, consistent, simple and integrated. As technology continues to advance, we believe that brokers will increasingly demand a seamless and efficient experience that streamlines the entire loan origination process. This means leveraging automation and integrating various systems to reduce manual processes and increase speed.

Additionally, providing consistent, reliable support and experiences will become increasingly important, as will the need for simplicity and ease of use. We see a future where brokers can easily access the information and resources they need to originate loans successfully and efficiently. The future is bright where the wholesale channel is seen as a preferred option due to its speed, simplicity and integration capabilities.

HW: How does Deephaven Mortgage support wholesale brokers?

AD: At Deephaven Mortgage, we are committed to supporting wholesale brokers by providing them with the resources, tools and guidance they need to be successful. We monitor and continuously invest heavily in technology and automation to make it easy for brokers to work with us.

We have a customer-centric approach where we provide consistent and reliable support throughout the entire loan origination process. Our dedicated account executives work closely with brokers to ensure they have access to the information and resources they need.

Examples of our educational resources include comprehensive training and education programs created for brokers to stay up to date with the latest trends and best practices. Additionally, we offer a wide range of loan products, including non-QM loans, to help brokers meet the needs of their clients and expand their business. Overall, we are committed to providing brokers with the support they need to succeed and grow their businesses.

To learn more about Deephaven Mortgage, click here.