Tools ‘N’ Tactics is a brand new series highlighting the best apps, tools, and tactics to help make your mortgage business easier, faster, and more profitable.
Our guest this week is Gigi Cheng, Chief Business Development Officer with Fundever.
What is Fundever?
Fundever is a revolutionary digital platform that connects licensed mortgage brokers with commercial lenders across Canada. Through Fundever, brokers who would typically only do a few commercial deals a year now have access to a massive database of commercial lenders.
Specializing in connecting brokers with commercial lenders, the Fundever team has researched options through private lenders and banks across Canada.
Who is it for?
Fundever is for licensed mortgage brokers looking to grow or expand their connections with commercial lenders in Canada.
Many mortgage brokers do not have access to private lenders across the country. Brokers already in contact with commercial lenders can continue to expand their personal database. Fundever connects brokers with commercial lenders throughout the country, allowing for ever-expanding business opportunities to best suit the needs of your clientele.
How it Works
Licensed mortgage brokers sign up through the Fundever site. Once approved, brokers then submit a loan application. This is simply an executive summary of what lenders want to see.
Private lenders’ mandates are constantly changing. Through Fundever, brokers are connected with the appropriate lenders based on their needs and the lenders whose mandates line up.
Lenders are able to filter the size of loan they would like to lend as well as geographic location in which they’re willing to work. They contact the brokers directly.
Fundever connects brokers and lenders but does not take part in the underwriting process.
What Do Brokers Need to Know?
Fundever provides documents and online tutorials for brokers looking for more information, or those simply unsure where to begin.
Brokers are able to work alongside other commercial brokers, but Fundever is not a brokerage and does not act as a co-broker.
What is Your Volume?
Although Fundever is currently in its pre-launch phase, there are over $250 million in submitted loans and are in the process of funding their first deal.
Anyone who signs up before the launch date of November 1st is eligible to enter a draw for a brand new iPad.
Sign up and enter “Scott” in the “How You Heard About Us” field to be eligible for the giveaway.