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Happy Valentine’s Day! This time of year, we’ve got relationships on our mind, and that applies to more than just romantic connections.

Mortgage connections are the glue that holds your business together. When a client comes in, it’s often a broker’s job to play “mortgage matchmaker” and find the perfect product for their unique borrowing needs.

And the job isn’t over once that match has been identified. You need to ensure the connection stays strong by making the process as smooth as possible for both parties.

In essence, you want to create a long-term relationship. The better the relationship, the more likelihood of referrals and repeat business.

But exactly how can you create those matches? Unlike Cupid shooting an arrow, they don’t always come so easily.

This Valentine’s Day take a break from flowers and chocolates and play matchmaker with your mortgage clients. Here’s what we recommend:

1. Timing is everything.

As in the world of romance, timing can be the difference between a successful – or missed – connection.

With past clients, keep track of major milestones in their lives – do they have a son or daughter going off to university or getting married, or has it been a while since they did a renovation? The more intimate knowledge that you have about the important moments in their lives, the more this makes you a better financial advisor who can anticipate their mortgage needs before someone else does.

Also, when processing the mortgage, manage clients’ expectations and lender conditions by being proactive. Collecting more information upfront allows you to manage conditions early and increase your chances of funding on time.

2. Make a date.

A payment date that is…

Ask the client for a preferred calendar for payments and provide a reason for asking. For example, you might align with your payroll deposits. This helps the lender determine if the deal is feasible.

It can also help if the closing date is moved — in that case, the lender can still try to align with the next payroll date.

3. Be upfront in your communication.

Communicate to your clients exactly what is expected from them and how different paths affect the process.

For instance, you can clearly explain what the difference is between non-accelerated vs. accelerated and how this will affect the Total Debt Service (TDS) ratio.

You also might explain the importance of potential borrowers bringing in their own paperwork. When lenders receive supporting mortgage documents (such as income or down payment confirmation) on the same day as the mortgage application, it can increase the chances of the mortgage funding.

4. Make it personal.

A great mortgage connection doesn’t end at the client stage. It’s also imperative the brokers have strong relationships with their underwriters.

One way you can do this is by checking in with your mortgage lending partners regularly.

For example, if you need to have a Condition of Financing (COF) and want your whole package reviewed together, put a note in your submission to ask for that, otherwise the underwriter may review the application only.

You can also send a separate email or call your underwriter and let them know you submitted all documents.

5. Think long-term.

When this deal is closed, it’s still a good idea to maintain a long-term connection with your client. You may be able to get testimonials or referrals, especially if the experience was positive.

But more than that, you can check back in periodically with your past clients to look for new opportunities. For instance, if they have available home equity, or if their family is growing and they are looking to upsize. You never know what changes might happen in the lives of your clients’ and, like any good matchmaker, if you take the time to understand where they’re at, you may see possibilities before they’re even aware.
Although February 14 may be one day, a good mortgage connection can last a lifetime!

Purview can help you expedite deals and find opportunities for your clients. Access our property tools that use data from the Province of Ontario Land Registration Information System today.

Call 1-855-787-8439 or visit