FAQ  |  Search  |  Memberlist  |  Usergroups   |  Register  |  Profile  |  Log in to check your private messages  |  Log in 

 Net Branch Opportunity even for LO's closing 2 loans a month View next topic
View previous topic

Post new topicReply to topic
Author Message
Flash in the pan

Joined: 07 Jan 2009
Posts: 95
Location: Atlanta, GA

Net Branch Opportunity even for LO's closing 2 loans a month
PostPosted: Thu Jul 07, 2011 12:07 pm Reply with quoteBack to top

We have a client that's a full Eagle HUD-FHA mortgage banker/broker in business for 15 years with extremely aggressive pricing. They have some of the best FHA rates we've seen when comparing to other lenders. Unlike most branch programs they will also consider single loan officers closing a minimum of 2 loans per month and still pay the 100% commission. Loan officers in certain states will require office space-see below. Take a look at some of their highlights and I can be reached anytime to help you with a seamless transition.

*100% commission minus a flat $495 fee on either banked or brokered loans-60 wholesale lenders to choose from.
*Ability to broker any and all loans, without "first right of refusal" to their approved wholesale lender list.
*Weekly payroll so you get paid faster.
*Banked loans down to 620 and brokered 580
*48-72 hour turn times on all files
*FHA, VA, CONV, USDA, Reverse, 203k, DU, and Commercial.
*They have a reverse mortgage division that uses MetLife, Genworth, Urban, and SunWest. More could be added if you have relationships in place.
*Licensed states-AL CA CT CO FL IA ID IL KY MA MD MI MO NC NH OH OR PA SC TN TX VA UT WA. Pending in GA IN and NJ.
*These states don't require commercial space for loan officers- CA FL IA MI PA SC TN TX VA
*Calyx Point Central LOS
*Online pricing engine
*Access to specialists including marketing, loan pricing, compliance, accounting, and general support to help you expand your business.
*Branch approvals in 3-5 days.
*Medical, Dental, Life, Disability, and 401k benefits.
*For loan officers without a processor, you could use a contract processor or the lender's for a fee of $495 that you could pass on to your client.
*Upfront fees-$145 for background check and for new branches the 1st month rent and phone expense.
*Pass through to client fees on banked loans total $860 which combines the underwriting and other small fees.
*Only other monthly fees are $15 for Calyx and $59 for payroll.

FHA refi, 225k loan amount, 96.50%LTV, 30yr, 30 day lock, 720 fico.

For 08/04/2011

4.25% 103.683
4.50% 104.933
4.75% 106.683

Please feel free to give me a call or send me an email

Glenn Radford
Mortgage Division Manager
Onyx Staffing
View user's profileSend private message
Display posts from previous:      
Post new topicReply to topic

 Jump to:   

Merge topics 

View next topic
View previous topic
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum

Powered by phpBB 2.0.22-2 (Debian) © 2001, 2002 phpBB Group :: FI Theme :: All times are GMT