April 7, 1997
Mr. Joe Ringer
Executive Vice President
LION
3003 80th Avenue SE
Mercer Island, WA 98040
Dear Joe,
I would like to compliment you on the LION service overall, and specifically on your Loan Link feature. Most of my business is A credit, but recently I have seen an increase in sub-prime applications. My typical process on these has been to phone the lenders with whom I am familiar and play phone tag with them, often for a number of days, since their reps spend most of their time out visiting mortgage brokers.
Recently, after making some calls and receiving a few expressions of interest that were acceptable but not exciting, I decided to try Loan Link for the first time. About half of the lenders I transmitted to responded, either by phone or fax, and one had an outstanding program that allowed me to provide my client with a rate that he was absolutely thrilled with, and at the same time increase my earnings on the transaction by an amount that paid for LION for over two years! A win-win-win for my client, myself, and LION.
I am a little reluctant to tell you what a bargain I think LION is for fear that you will raise my rates, but I think selling this service to mortgage brokers for the amount that you charge has to be the world's easiest job. The time that Loan Search has saved me and extra income it has generated has paid for the service more times than I can count. I cannot imagine returning to inefficiently wading through piles of faxes, punching adjustments into my calculator. And, now, I look forward to using Loan Link to help me build the sub-prime part of my business as well.
Thanks for the great service. Keep up the good work!
