Wholesale Journey

Why I opened Brokered Rate Mortgage

Brokered Rate Mortgage was founded by Eric Covington, I understood that whether you are buying the home of your dreams or taking out home equity for your daughter’s college expenses, applying for a mortgage loan on your property is an intensely personal experience that calls for much more than a one size fits approach.  To the public, the Mortgage Industry has tried to present Home Loans as simple commodities that can be purchased online with a few mouse clicks as if buying a blender on Amazon. Determined to take a more personalized approach, I set out to combine the elements needed to create a customer-centric lending experience. 

 

 

In order to build a solid foundation, I established relationships with only the most technologically forward wholesale lenders in the country.  Each wholesale lender I chose has 100% electronic applications and processing;  furthermore each lender was reviewed for its online customer satisfaction ratings, the reviews of other Wholesalers and the underwriting focus they take towards the customer.  I created a customized lending experience based on a unique investment approach that allows us to offer our clients access to elite market-based pricing, innovative loan products and exceptional service levels.  The result is a streamlined loan experience, with zero lender fees and ultra-competitive market based pricing for our customers.

 

   

Wholesaling benefit to my Clients and my Family

 

As an independent wholesale lender I don’t employ any processors, underwriters or closer, so my borrowers are able to work through a single highly experienced point of contact from inception to closing (Me).  For the same reason, all Brokered Rate loans are 100% free of the kind of additional lender fees (like processing or origination) most lenders charge to compensate these employees and increase their profitability. As dedicated loan originators focused solely on the needs of our clients we are able to offer service levels far beyond our industry standards, with average turn times of as little as 14 days for eligible loan files. And lastly, I am a single father of a 9 year old daughter and I enjoy most of all spending quality time with her daily.  Raising her is my priority over all and this brokerage allows me to excel both in work and in my home life. 

That combination is priceless to me.

Award Winning Operations

In 2019, our second year in business I was awarded United Wholes Mortgage ( UWM ) Fastest Closer In the Nation Award out of thousands of other and larger mortgage lenders. 

This is due to my average application to closing times of 8-13 days in both Indiana and Florida and on refinances and purchase loans. The 2019 industry average for a loan app to closing is about 35-40 days.

My strategy to make the lending process more streamlined at every critical point has enabled these industry leading turn times and most importantly my customers have a enjoyable loan experience, while getting the very best rate and personal service.  

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I wanted to thank Eric Covington for navigating us through a difficult loan. We had tried local banks thinking that they would cater to us, but just the opposite happened. Eric not only catered but really educated us on what was available and looked at it like our wealth manager would have - goals, terms, payments etc...

 

Wonderful experience, and top notch service.

Highly Recommended

—  ZSteele from Palm Springs CA

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