May 31 2012

How PrimeLending Supports Its Entrepreneurial Model

The mortgage lender empowers its workers to go out and build valuable relationships with customers and partners.

At PrimeLending, with 283 branches and counting, efficiently onboarding new locations is crucial to supporting the company’s entrepreneurial business model.

“Instead of sitting behind a desk, waiting for people to walk in, our loan officers bring their own customers to the table,” says Josh Hebert, vice president and IT director.

“In addition to their own book of business, our loan officers also maintain industry relationships, such as builders and realtors,” he adds. “And, from a customer-service perspective, loan officers are expected to provide a level of service to borrowers more similar to a financial adviser.”

Further, PrimeLending’s corporate business model focuses on speed to revenue rather than speed to market. “This means our turnaround time for obtaining a residential loan versus large banks is a third to a quarter less,” Herbert says.

Consequently, the need for agility is not lost on the technology department either.

“We require the ability to support our loan officers as entrepreneurs in their fast-paced environment,” Hebert says. “We need to supply branches with the appropriate networking technologies while keeping our developers focused on engineering leading-edge productivity tools.”