New partnership program brings reduced rates, rebates
InterBay Funding LLC, a commercial property loan provider, is offering a Partner Program to qualified brokers, which gives special benefits to mortgage brokers who close a specified volume of loans over a defined time period.
Members at the "Sapphire" level need only close one loan per month over a four-month period to qualify. In return, they receive rates that are 50 basis points below InterBay's published rate sheet; rebates of up to 50 percent of marketing expenses incurred, through InterBay's small commercial marketing guide; increased sales and processing support; a "correspondent" fee waiver; and invitations to participate in special partner events and contests.
"Emerald" level members who close an average of three loans per month over a four-month period, or average $750,000 in closed loan volume per month over a four-month period, receive all of the "Sapphire" benefits and more. Additional perks include rates 100 basis points below published rates, increased marketing rebates, an in-person marketing consultation, and potential participation in InterBay's lead generation program.
"InterBays Partner Program is a great benefit for brokers who offer small commercial loans in addition to traditional residential mortgages," said Tom Brubaker, InterBay's vice president of marketing. "The special pricing and marketing support can do a lot to add to a brokers profitability, without adding a lot of work."
Brokers earn gifts for every loan they close with new
InterBay Funding has also announced the launch of the WinBig! Rewards Program in the United States. The program, which awards gifts to brokers for each InterBay loan they close, features items that run the gamut from digital cameras and CD players, to diamond jewelry and exotic vacations. Brokers are awarded 10,000 points for each loan they close, and since gifts are available at the 10,000-point level, brokers can earn rewards from their first loans. Or, if brokers choose to, they can save up their points to earn bigger prizes.
"InterBays WinBig! Rewards Program is just one way brokers benefit from doing business with us," said Brubaker. "We want them to know that, in addition to furthering the marketing support and personal service we provide them to help make it easy to close small commercial loans, we put the WinBig! Rewards Program into place so we could offer them a personal 'thank you.'"
For more information, visit www.interbay.com.