An Interview With Alan Michaels, President EMM Wholesale (EMM) - The Benefits of Wholesale Lending

Up or Down. Boom or Bust. Bull or Bear. Every economic cycle presents it's own unique challenges. The one constant through all, however, is that there are also always opportunities for businesses and professionals to expand. Alan Michaels, President EMM Wholesale shares valuable insights on the Benefits of Wholesale Lending.

​The Benefits Of Wholesale Lending–

An Interview with Alan Michaels, President EMM Wholesale (EMM)

Up or Down. Boom or Bust. Bull or Bear. Every economic cycle presents it’s own unique challenges. The one constant through all, however, is that there are also always opportunities for businesses and professionals to expand. In the mortgage industry, Wholesale Mortgage Lenders can build very attractive income platforms by providing greater flexibility in delivering quality products and exceptional service to their clients. We recently had the opportunity to sit down with Alan Michaels, President of EMM Wholesale.

"Wholesale Lending is a part of every mortgage even if you use banks or big national mortgage lenders. Shouldn't the Wholesale Lender you select be one you'll want to do business with time and time again"?

Alan Michaels, President, EMM Wholesale Lending

What do you see as the one thing that makes a business successful?

Regardless the condition of the economy or market trends, one constant remains. Businesses that have developed strong relationships with their clients tend to fair better in either climate. That is the cornerstone of EMM Wholesale's platform. EMM understands that when mortgage brokers, credit unions, and banks are looking for a Wholesale Lender, there are many capable options available. It can even be difficult, at times, to distinguish one from another.

So, what sets EMM apart from the competition?

Relationships. And what is the basis for any good, long-lasting relationship? Trust.

How do you establish trust with your clients?

Trust is not given. Trust is earned. And, how does one earn that trust? By delivering on what they promise. I'm an “old school” guy. I believe in growing business by relationships by – Paying attention to needs; Not only providing a quality product, but quality service; Listening to concerns; Understanding clients' goals and direction; Being attentive. These characteristics are a must for everyone at EMM to possess. Simply put, EMM knows how to make things work and keep the process moving. No shortcuts are taken. No corners cut. Through our extensive industry connections, we know how to “thread the needle” and cater to the individuals we serve and, at times, carry them through the entire process.

Is that the EMM way? Is that what's in the corporate DNA?

Kevin Crichton, President and Chief Operations Officer of E Mortgage Management LLC, is an example of how successful Wholesale Lending can be. He believes in the “customer for life” philosophy. Kevin and I are of one mind when we say, that customer service has always been very important. Putting the customer first, providing a world-class experience for mortgage broker partners.

What is your secret sauce… how do you attract clients, different from other lenders?

As indicative of what many see as a troubling trend, doing anything to make a buck, some Wholesale Lenders will focus on the quantity of business they can generate. At EMM, and it may be a bit clichéd, we focus on the quality of the business we generate. There needs to be mutual trust. There may be twenty brokers I meet with and I'll only pick four or five to do business with. Folks I trust. Folks I know fit the business model…  business that works, makes sense. We develop a relationship. We are driven to deliver a high quality product at a better price while we provide high level of service – forming true partnerships. All our customers are our partners, not clients. Most lenders meet with a customer twice a year or once a quarter. I meet with my customers once or twice a month. Many times, we don't even talk about mortgages. We talk about family or vacations. My customers are an extended family, they are my friends.

How critical is your team in achieving success?

We have a top-notch team. Our entire team buys in to this platform. They pick up the phone. They nurture. They're old school. They're an extension of myself. I hold them to a very high standard. And, they do the same to me. Across the board, there is mutual respect. The team knows I am open to debate. As I challenge them, they can, and do, challenge me. The talent we have amassed is unparalleled. Each member contributes different skills. But, the one thing everyone has in common is their extremely high talent and extensive experience.

Relationships, trust, old school. How does that benefit your clients?

Those qualities are vital when clients are looking to expand their business. To become the broadest scope of the banking profession, EMM enables them to also build relationships, optimize customer service, and expand their potential.

Any last words of wisdom?

Wholesale Lending is a part of every mortgage even if you use banks or big national mortgage lenders. You will never be able to go straight to the wholesale source. You start with a retail broker or a retail division of one of the national mortgage lenders. Shouldn't the Wholesale Lender you select be one you'll want to do business with time and time again?

About Alan Michaels - Alan R. Michaels is President of Wholesale Lending at E Mortgage Management, LLC (EMM) Wholesale, responsible for building the entire wholesale sales and operations platform for the company’s wholesale lending division. 

About E Mortgage Management - EMM is a private mortgage lender licensed in over 25 states, specializing in residential home purchases, debt consolidation refinancing, and investments. Founded in 2002 and headquartered in Cherry Hill, New Jersey, E Mortgage Management (EMM) is a full-service direct residential mortgage lender licensed in over 25 states with offices spanning from east to the west coast. The Company operates through three primary business channels: Wholesale, Retail and Consumer Direct. They are a Fannie Mae approved seller/servicer and is an endorsed HUD lender offering FHA, VA, USDA, Jumbo and other traditional Fannie Mae/Freddie Mac eligible products. E Mortgage Management is an Equal Housing Lender/Equal Opportunity Employer, Lender NMLS: 2926. The company is an active member of the National Mortgage Bankers Association and holds an "A+" rating with the Better Business Bureau.