Here are some common questions about our LCI Dibs program. If you still have questions, feel free to contact us.
What is your referral fee?
Our referral fee is based on the total requested loan amount using a very simple sliding scale:
- 1 point for loans under $1MM
- .5 points for loans over $1MM
If a different referral fee is posted, please see the LCI Notes section for more information.
What if I call dibs on a lead but I can’t close it?
Nothing. There is no way in our system to reactivate a lead, so for the borrower’s sake, please only call dibs on leads you believe you can close. Repeatedly calling dibs on leads and not closing them may result in removal from the system.
When should I notify LCI that a lead is closing?
We would like to be notified asap if a lead is likely to close. That way we can supply our wiring instructions with time to spare.
Do I need to notify LCI if I can’t close a lead?
No. You don’t need to notify us if you can’t get it done.
Is LCI co-brokering the loan with me?
No, LCI is not acting as a broker in the transaction and will not stand between you and the borrower. We are simply referring the lead to you with the expectation you will be the primary point of contact for the borrower. All borrowers are aware of this.
What if the LCI referral fee for a deal with kill it? Is it negotiable?
The referral fee is negotiable if there is a realistic chance of it killing the deal. Please contact us if you believe this to be the case with your lead.
How does LCI prefer to be compensated?
We prefer to be paid directly through the closing statement and can provide Title our wiring instructions for that. However, we can also be paid immediately after funding from your origination proceeds. Please contact us prior to closing to arrange payment.
Is this really all on the honor’s system?
Yes! This is all on the honor’s system. We spend a lot of money on advertising and are sending free leads to you. In return we ask that you be honest with us so we can continue to provide this service to our lending community and our borrowers. As long as you don’t abuse the system, everybody wins.
How does LCI know if a deal closes or not?
We always check in with the borrower and/or the title company to see if the deal closed. If we find that it has and we weren’t notified, we will permanently remove the originator from the service.
Do you post brokered leads?
No. We never knowingly post brokered leads, and you’re always given direct access to the borrower. No whored-out deals ever!
Do you provide the borrower's SSN and home address?
No, we don’t provide the borrower’s SSN and home address. You must ask for this information from the borrower.
How bad are these bad leads that you’ve rejected?
Some leads will definitely be better than others, but our lending criteria is fairly narrow and our terms are conservative, so for most leads, there should be a lender out there that can get it done. We’re also NOT choosing the best leads to broker ourselves. We’re a direct lender, not a broker. If we can’t fund it, we’ll put it on this system. If you’re not seeing leads you like, feel free to unsubscribe.
What types of leads are you posting?
90% of the leads will be non-owner-occupied properties in the state of Texas with loan requests from $100K to $10M. All leads will either be under contract or owned by the borrower.
Do you say why you rejected a lead?
We are not obligated to state our reasoning for disqualifying leads. It is up to you to perform due diligence as a broker or lender.
Can I contact you to get more info on the lead?
Yes, but we take the effort to include all pertinent info on the lead details page, so it’s unlikely we’ll have much to add. Check the Notes section for any additional comments we might have.