Questions for Correspondent Brokers – Lenders, Buyoffs, and UW Fees

Hallo…

I’m hoping to hear from other brokers who work as correspondent lenders. Which lenders are you using, how long does it usually take for them to buy off your wire, and what underwriting fees are you seeing? :pleading_face:
Would love to hear your insights or any experiences you can share!

Your response is warmly appreciated… :persevere:.

What important aspects do you take into account while assessing a lender’s offerings? :no_mouth:Do you have a favorite lender for any particular kind of loan, such as conventional, FHA, or VA?

Do you employ any standard bargaining techniques or strategies :confounded:?How can the timeliness and effectiveness of the buyoff procedure be guaranteed?

How do you calculate a loan’s proper underwriting fee? What elements affect the amount of the UW fee?

Are UW fees subject to any industry standards or benchmarks? :thinking:How do you make sure your UW fees are reasonable and competitive?

What difficulties do you encounter in the lending industry as a correspondent? How do you envision correspondent lending developing going forward?