TermStreet and Our Lender Relationships
One of our core principals at TermStreet is our duty to our borrower clients. Our marketplace is built to generate competition and place deals with the best lenders at the best terms. Sometimes this conflicts with our desire to build high quality relationships with our lenders who we expect to compete hard to win deals. That competition, while good for our borrowers, can result in that uncomfortable feeling when you as a lender have pushed your underwriting and pricing to the limit and left a smaller margin in the deal than desired. Believe me, I’ve stood in your shoes and know the feeling well. You won the deal but “win” doesn’t accurately describe how you feel.
So as a lender, why do I want to participate in the TermStreet marketplace? The answer is the TermStreet platform makes it easy for lenders to establish direct borrower relationships and to quickly screen, review and respond to deals that meet their investment parameters. Our commitment to our lenders is this:
- Ownership and Control. You own the relationship, both while working a deal through the TermStreet platform and after closing – TermStreet will never claim exclusivity with any of the borrowers. And you control the communication and messaging for every quote – TermStreet will never amend, modify or attempt to influence a lender quote or any other communication between a lender and a borrower.
- Full Transparency. TermStreet does not have servicing or compensation arrangements with any lenders, so you will never see us directing or favoring a quote because we are receiving compensation from another lender.
- Deal Vetting. Every deal coming through the TermStreet platform gets vetted by our team of real estate financing experts, and we will only send you deals that are in your wheelhouse / meet your investment criteria.
- Ease of Process. Our process is engineered to make evaluation of deals, quoting and negotiating as efficient as possible.
So yes, at TermStreet we ask our lenders to compete to win deals, but we also try to make your life easier by simplifying the process, making it more efficient, and helping you establish more direct borrower relationships.
If you are interested in learning more, send me a note at [email protected] and we will show you how to build your business through our platform.