The role of the broker is to introduce lending opportunities to investors. In this role the broker is often known as a lenders’ broker because they see the lender as their client. This is distinct from a borrower’s broker who represents the interests of the borrower. The Omicron platform is used by lenders’ brokers.
The broker obtains lending propositions from accountants, real estate agents, lawyers, borrower’s brokers and financial planners. It takes a large pool of referral sources (say 50-100) to generate a viable deal flow (2-3 deals per week).
Having identified an attractive lending proposition, and having mandated the borrower, the broker will then search the Omicron platform to identify investors whose lending criteria match the lending proposition they have procured. The broker must make initial contact with the investor through the platform. After this initial Enquiry the parties may communicate directly or continue to message through the platform. If the investor does not wish to proceed with the loan they must reject the deal through the platform using standard reasons.
If the investor accepts the loan the broker will remain as liaison between the investor and the borrower until the loan is repaid. If the loan is a syndicate loan the broker will act as administrative agent for the syndicate for the duration of the loan. In this role the broker coordinates with the investors and executes their commercial decisions.