How LenderSelect Helped One Community Bank Double Its Loan Volume in a Matter of Months

Since January 2018, Superior National Bank and Trust has worked with LenderSelect Mortgage Group to overhaul its strategy for growing a successful mortgage origination business, achieving immense success. Recently Superior National Bank and Trust’s Vice President of Retail Lending sat down with us to discuss the key benefits of this relationship.

Superior National Bank and Trust’s mission is to be the region’s most trusted bank. Around for 125 years and counting with no mergers or name changes, the strong, old-fashioned community bank has an 85% market share in the local area. An unsatisfactory relationship with its previous partner finally led Superior to LenderSelect. Since the relationship began eight months ago, significant goals have been achieved, income has increased dramatically, pricing is now more competitive and the bank has been able to offer simplified government products. Said the VP of Retail Lending, “We now close 99.9% of mortgages within or under 30 days, where our previous partner took 60 to 90 days. Our goal was to increase income by 15%; however, we’ve actually increased income by 80% and doubled our loan volume.” After spending years building a negative reputation with its old partner, Superior is turning a corner and has already seen the fruits of its labor since the start of working with LenderSelect.

The VP of Retail Lending credits LenderSelect Account Executive, James Abegglen, with creating a positive experience from the start of the business relationship, stating that Abegglen makes it feel like Superior National Bank and Trust is the only client he has. He is always present when the team needs him, is extremely responsive and takes care of any concerns right away. Says the VP of Retail Lending, “James was the only one who said to us, ‘Tell us what you need and what you’re looking for so we can help you meet your needs.’ Other companies told us what they could do for us, but didn’t ask us what we needed. We should always consult to find out what customers are looking for; that’s what I teach my lenders.” 

Since joining forces with LenderSelect, Superior National Bank and Trust has found selling government loans to be a simplified process using LenderSelect’s materials and resources. The local area has a population that would greatly benefit from FHA and VA Loans, but Superior had not been much of a player in that arena – until now. Viewed as a premier community bank, Superior will continue to reap the benefits of offering a more diverse portfolio to its customers with the support of LenderSelect.

With LenderSelect’s smooth loan servicing and a user-friendly website, Superior and its clients have been pleased with the overall experience. On the operations front, the process has been wonderful and the dedicated group of processors and closers keep everything on track from start to finish. One of the best aspects, according to the VP of Retail Lending, is the fact that they no longer have to worry about losing contact with their customers. With LenderSelect, the community lender is involved throughout the entire process to build and maintain a strong relationship between lender and borrower.

When asked what the VP of Retail Lending would say to peers who may be considering a relationship with LenderSelect, “I’d say do it. Go right into it. Change can be scary on any level, but it can be exciting, too, and this experience has been positive for us. We had a big push to do something better for our customers and LenderSelect has delivered that for us.”

To discuss your needs and how LenderSelect can help your business achieve its lending goals, get in touch with us today!