LenderLetter.com

About LenderLetter.com

LenderLetter.com first originated in 2004 by John Brannan and his fellow real estate broker and friend, John Yonan. They say that necessity is the mother of invention. This is true and applicable to the LenderLetter story. One of the challenges we were experiencing in 2004, as busy real estate professionals, was getting a pre-approval letter updated in a timely manner with the proper purchase price and property address to accompany the offering paperwork. Real Estate is a dynamic business and things can happen fast, which means calling an 'audible' and shifting gears to another property and/or adjusting the price at the last minute. The inherent problem is that most lenders don't work evenings or weekends. At least, they would prefer not to work at those times. The fact is that offers are typically drafted between the agent and their buyer on evenings and/or weekends. So, while a pre-approval letter may be 'in hand' on Friday from the lender, by Sunday evening the pre-approval letter may be outdated. Agents today are experiencing the same dilemma, which is, "I need an updated pre-approval letter, now!" Lenders really don't want to spend their time updating pre-approval letters, because they are busy with many other activities necessary to get the the loan approved. Consider this problem solved. LenderLetter allows this to happen seamlessly between the lender, agent and buyer. The Lender sets the price and other components in the pre-approval letter and uploads it to Lenderletter. It's important to note that the lender controls the price ceiling, however, the buyer or their agent may adjust up to the maximum price allowed by the lender or change the property address, This allows both the pre-approval letter and the offer to match perfectly. This facilitates the offering process and paves the way for a solid offer presentation. By the way, the lender is instantly notified anytime a change is made on the pre-approval letter with all of their clients.

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