West Palm Beach, Fla., September 24, 2013 – Correspondent Lenders who try to capitalize on the opportunity too quickly may find themselves in deep trouble, according to a new eBook from OpenClose. “Not So Fast, Correspondent Lenders: What You Need to Know and the Three Traps that Could Cost You Thousands. According to the author, it's not correspondent lending that’s precarious, but the lack of checks and balances that are needed to do it successfully. The eBook provides residential mortgage bankers with insight on what to ask their correspondents and investors, how to avoid common pitfalls, and help on choosing the right tools and staff.
“The terms ‘correspondent’ and ‘correspondent lending’ are thrown around so freely these days but what they mean and how to go about pursuing it correctly was difficult to find,” says author Frank Bocchino, vice president marketing & social media of OpenClose. “Consequently there are many misconceptions bankers tend to have so we wanted to create a quick guide for residential mortgage lenders. This eBook sheds light on how to proceed wisely.”
“Not So Fast, Correspondent Lenders: What You Need to Know and the Three Traps that Could Cost You Thousands. is available for a free download here. http://openclose.sites.hubspot.com/correspondent-banking-software-press
OpenClose is a pioneer of Software as a Service (SaaS) computing solutions for the financial industry since 1999. With OpenClose Social, its social media management software users can easily create and post social media content simultaneously on Facebook, Twitter, YouTube, LinkedIn, corporate websites and blogs. It allows marketers to automatically aggregate pertinent news and content for writing, reposting, and distribution. Administrators can then monitor, track and analyze what’s being said about their company, and competitors. Options include group discussion (forums), blogging; lead management, and multiple accounts posting. Visit the company’s Web site at www.openclose.com