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laprade16
65 Posts |
 Posted - 08/19/2008 : 1:44:11 PM
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| I am a loan officer looking to work from home and only have a license in Florida. My brain is fried in trying to see what company I should sign up with. I don't know who is good and who is lying. I have been in business 12 years and am ready to work from home. I want a company that can do many states and I don't need to get my own license ,must have great rates and aren't padding there rate sheets, Use calyz, Does FANNIE,Freddie, FHA and Reverses. I would like a good payout that I am not nickled and dime on. Would like to go with a company if I have questions I can get a hold of someone to answer my questions and walk me through. Well Please tell me who you think my best bet. Is it these chartered banks? Please help my fried brain. I need to decide quick as I have spent 3 days researching to no avail. More I read the more pessimistic i get. Thanks for any help one can give me |
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clearwaterny
352 Posts |
Posted - 08/19/2008 : 2:00:05 PM
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Well you can do some research on this forum to answer a bulk of your concerns. In terms of licensing, a federally chartered bank I believe will not let you work from home but I believe if you can setup with them you will have access to a multitude of states and as for licensing; for the most part you still have to get licensure in one form or another whether you are a LO or a broker in most states these days and it's only going to get harder.
In terms of fees, if you want to be FHA approved you have to be W2'ed so that 100% commission structure is more like 68%. In addition, the federally chartered banks usually take a certain amount of bps off your loans (for example, Eagle takes .375 off every loan closed).
I currently work for Envision Lending Group and I have had no problems with them and they have been very helpful but they will do background checks, credit checks, etc so if you a bad apple don't bother applying with them. |
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Managing Prime
2973 Posts |
Posted - 08/19/2008 : 2:21:19 PM
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| See Signature |
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jamest0623
139 Posts |
Posted - 08/19/2008 : 4:56:18 PM
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I posted this in another thread but seems to fit your situation as well. I could get you in as a LO rather then opening an actual branch. Let me know. The support system is second to none.
Posted - 08/04/2008 : 06:54 AM
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I have been in the business for 6 plus years and recently decided it was time to make my first move in the mortgage industry. I did extensive research for months regarding the different net branch opportunities that were available. Although, I was extremely nervous I could not be happier with my decision. I have closed hundreds of loans in the last 6 years and now look to make it thousands more in the future. The level of service and professionalism is well beyond all expectations and their fees are industry standard. Call me and I will put you in contact with the head quarters, see if this works for your particular situation.
James
561-245-7231
954-695-5801
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souravdas
21 Posts |
Posted - 08/19/2008 : 6:48:59 PM
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Well if i can be of any help feel free to contact me
i work for a direct lender around over 30 years we not only bank we also have the option to broker if we don't have a product.
we can do 550+ fico's and up to 55+ dti
Sourav Das
Somerset Mortgage Bankers
Senior loan officer
sdas@sicloans.com |
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HMDApproved
729 Posts |
Posted - 08/20/2008 : 02:28:35 AM
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| Give me a call. We have the best "work from home" program in the industry. Call me to discuss. |
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samurai
2785 Posts |
Posted - 08/20/2008 : 02:48:33 AM
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quote:
I have been in the business for 6 plus years and recently decided it was time to make my first move in the mortgage industry. I did extensive research for months regarding the different net branch opportunities that were available. Although, I was extremely nervous I could not be happier with my decision. I have closed hundreds of loans in the last 6 years and now look to make it thousands more in the future. The level of service and professionalism is well beyond all expectations and their fees are industry standard. Call me and I will put you in contact with the head quarters, see if this works for your particular situation.
James
561-245-7231
954-695-5801
Are you recruiting people or are you just sharing a "good thing"? Or is this a dumb question? |
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jamest0623
139 Posts |
Posted - 08/20/2008 : 04:44:50 AM
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quote:
Originally posted by samurai
quote:
I have been in the business for 6 plus years and recently decided it was time to make my first move in the mortgage industry. I did extensive research for months regarding the different net branch opportunities that were available. Although, I was extremely nervous I could not be happier with my decision. I have closed hundreds of loans in the last 6 years and now look to make it thousands more in the future. The level of service and professionalism is well beyond all expectations and their fees are industry standard. Call me and I will put you in contact with the head quarters, see if this works for your particular situation.
James
561-245-7231
954-695-5801
Are you recruiting people or are you just sharing a "good thing"? Or is this a dumb question?
Both kinda....they have a very small profit sharing program for branches but if this person wanted to be a LO I could help with that as well. For the most part I am sharing a good thing. |
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samurai
2785 Posts |
Posted - 08/20/2008 : 05:12:05 AM
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quote:
Both kinda....they have a very small profit sharing program for branches but if this person wanted to be a LO I could help with that as well. For the most part I am sharing a good thing.
This is not directed at you James and this may be a little off topic but I have noticed that whenever people want to share a "good thing" on BO there is usually (not always) a financial motive behind their good deed. I guess by "nature" we brokers want to make money whenever we serve a need and we often justify it by saying things like "I have to feed my family". How much does a family eat these days?
Anyway, I am just saying it would be nice to see more people share things without a financial motive but that may be asking too much. We all have families to feed. |
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jamest0623
139 Posts |
Posted - 08/20/2008 : 05:23:06 AM
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| I realize now that your comments weren't directed to me and I appreciate that. The amount of profit sharing I would make is so insignificant it doesn't factor into whether or not I would recommend them. In fact, if you don't use my name I don't receive a dollar anyway. I am doing this to let people know that TLG really delivered everything they promised me, in this day and age, these companies are far and few between. Have a great day everyone! |
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