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What Does a Wholesale Account Executive Do?

By YaShekia King
Updated Mar 03, 2024
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A wholesale account executive is a professional who strives to bring new mortgage broker relationships to a lending institution such as a bank. An executive in this industry handles all questions between the customer and lending institution. Employers often look for wholesale account executives who have four-year bachelor’s degrees and a willingness to do a lot of traveling. Wholesale account executives must be prepared to build broker relationships and to sell their company’s products effectively.

Developing solid relationships with mortgage brokers, credit unions, and banks who do not fund their own loans is a chief responsibility of a wholesale account executive. Executives also need to help other internal employees to develop professional relationships with these brokers. Possessing a solid understanding of the market and the brokers present in the marketplace prepares a wholesale account executive to successfully connect with brokers who can help the company to achieve its sales goals.

Managing the loan process is a valuable part of an account leader’s role in the mortgage industry as well. Part of this process involves checking to ensure mortgage brokers’ application packages are complete before being submitted. For this reason, a wholesale account executive should have a strong understanding of underwriting guidelines and quality control requirements along with solid organizational skills.

An individual who works in the mortgage industry as a head of accounts also must be able to train brokers and stay current on industry trends. For example, a wholesale account executive is responsible for teaching mortgage brokers about the wholesale loan submission process. He or she also presents company procedures and policies along with rates and other mortgage product information to these brokers. This type of professional, therefore, must have solid verbal communication skills. Remaining up-to-date on wholesale lending requirements is additionally necessary for a wholesale account executive.

Account executives who work with brokers also must have solid selling skills when pitching company products to these customers and striving to open new sales territories. These executives have to assist brokers with selecting loan products that meet their customers’ various needs. Part of an executive’s job includes making cold sales calls to potential new brokers and even calling existing customers to build relationships with them so as to generate more sales for the company. A wholesale account executive’s goal should be to gather information about what customers value and offer solutions. Executives need to be able to handle rejection when attempting to make sales as well.

PracticalAdultInsights is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.

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