| Author |
Previous Topic | Next Topic |
|
JohnCar
1 Posts |
 Posted - 02/28/2005 : 4:56:39 PM
|
I posted a similar message about a month ago. We're branching out and hiring good loan officers, to work from home as a loan officer or net branch manager. We offer 80 percent commission on your CA deals, and 70 percent, everywhere else. We work with over 150 lenders, and do residential, commercial, and construction loans, in all states. Send an email for more info. apfsp2002@yahoo.com Thank You! |
|
bledy1
394 Posts |
Posted - 03/11/2005 : 9:25:50 PM
|
| That is in fact percent and not basis points... Correct? |
|
|
JohnCard
27 Posts |
Posted - 03/12/2005 : 12:19:47 AM
|
| Yes, 80 percent commission on Califronia deals, and 70 percent commission(to the loan officer) in all other states(residential,commercial, construction loans, working with about 200 lenders) We have a net branch manager position, as well, where an experienced loan officer can hire a team under them( they manage/advice a group of lo's). We're starting a realty department, as well, great opportunity for lo's to network. If you would like to talk, send me an email apfsp2002@yahoo.com, I can give you my phone if you would like to talk about this opportunity. Thanks-John |
|
|
bledy1
394 Posts |
Posted - 03/12/2005 : 1:41:26 PM
|
| I sent you a pretty extensive email already. Let me know if you received that, thank you! |
|
|
jeffg
1031 Posts |
Posted - 03/14/2005 : 1:44:43 PM
|
I can't help and compete here. I'm licensed in CA, and I give 100%! I only take $500 a deal, and that's only up to the first 10 deals in a year, after that, $100 a deal!
Try that one on for size!
Why work somewhere and give up that extra 20%? On real estate, if you want to sell it with me, I give 90% to you, 10% to me.
If anyone wants to work in CA, I'm the spot to be at! I'm in the process of getting more states, but this one I have now.
Thanks,
Jeff Gruhler
Broker
American Fidelity Mortgage
530-477-6095 |
|
|
midas
4409 Posts |
Posted - 03/14/2005 : 3:33:26 PM
|
| i will co broker with jeffg to fund in the other states on the same deal but only as a co brokered deal through jeff. |
|
|
JohnCard
27 Posts |
Posted - 03/15/2005 : 1:22:36 PM
|
Also, we have a net branch manager position where an experienced loan officer can hire a group of loan officers to work under them(as long as they manage/advice), those people are free to advertise, and hire as many people as they would like, from any place. Best of luck to all. Email me for more info apfsp2002@yahoo.com Thanks for all the emails, we have done quite well here! |
|
|
midas
4409 Posts |
Posted - 03/15/2005 : 4:37:05 PM
|
| i will offer the same positions but i will disclose all hidden fees upfront. 100% on your own loans as a branch manager $500 fee per loan over ride bonuses on all your employees. you pay for your own expenses. progressive rate for all los up to 80% licensed in 48 states. |
|
|
JohnCard
27 Posts |
Posted - 03/15/2005 : 5:09:12 PM
|
With my company, there are no 'hidden' fees whatsoever. No extra 5-700 dollar misellaneous charges to the borrower I wish the very best of luck to everyone on this board! Please feel free to start new threads. Thanks-John
|
|
|
midas
4409 Posts |
Posted - 03/16/2005 : 8:20:40 PM
|
| why is there a different split for other states? |
|
|
JohnCard
27 Posts |
Posted - 03/17/2005 : 12:25:13 PM
|
| The straight up 80 percent commission is right around the corner. Its a nice deal, our loan officers can choose from over 200 lenders, and set their own fees. Our real estate department will give lo's a good chance to network and get leads. Most companies that promise huge payouts also charge the borrower(on top of points, lender fee, title, escrow,ect) an extra $500-$700 company fee, I'm not saying thats good or bad, definatly not our style. Thanks for the input, best of luck to all on this board! |
|
|
jeffg
1031 Posts |
Posted - 03/17/2005 : 4:04:26 PM
|
I’m hiring also! I’m not here to compete, but when I keep seeing other brokers only interest in this forum is to offer services or hiring with no posts other than this, I have to jump in.
Guys, I’m a loan officer first, Broker second. I know what it’s like to be a loan officer and my business card reads: Broker/Loan Officer, not CEO, President, etc.
By the way, all those Escrow, title, fees, etc., are charged to the borrower and not the loan officer. At my joint, the money to get is the origination fee, processing, Admin, and rebate. That other stuff, I don't get nor does the loan officer.
I offer the best compensation plan that I know of in the industry:
$500 a deal, regardless of the loan amount up to the first 10 deals in a year. After that, $100 a deal after that. Try that one on for size, other brokers!
Why do I “give it away?” Because if I got a loan officer that’s good and I make $5,000 a year off of, then I’m happy. Most brokers that I worked for, were more interested in trying to make that much off me on ONE deal, let alone 10 in a year.
Other brokers at the moment, have more states than me, but attention all loan officers----- I’m coming in short time to their states, so keep my 800# as I you can check back with me from time to time and I’ll keep you posted on what states I’m going to be in.
Some claim access to 200 lenders-----who wants to learn all these different Underwriting requirements. I have the BEST lenders, and have narrowed down the list so I don’t hook you up with the lender with the Underwriting deal from hell!
If a broker is paying for your leads, advertising, etc., then you should only expect the industry average of 25-50%. It’s expensive to market these days, and the broker can’t write checks on expenses such as these, give you an office, receptionist, etc., and stay in business giving more.
But, I’ve gotten a bunch of emails from people all over the country asking me when I’m coming to Ohio, Washington, or other states. I’m not there yet, but if you are producing the lead, paying for the marketing, advertising, etc., then you should get 100% of the money, less an appropriate “net branch” or mgmt./broker fee. Mine is $500 a deal. There are other companies out there, so if you’re not getting this split, and you’re not receiving what you think you should be getting from the mortgage company, look around until I get in your state. Anyone in CA, can work right now.
Many brokers might not like these comments, but greed doesn’t work in my book! I come from the “mortgage jungle” of a mortgage company in every office complex in Orange County, CA. My first broker, I made him $85,000 in payable commissions to the house in 6 weeks. I was supposed to get 25%. I was fine with that, as he was providing the leads. I decided I wanted to rearrange my office hours, etc., to finish my life long dream of finishing my degree. Guess what? I got fired! He took me into his office and said, “You know, all the money’s mine, you know?” Fair, huh? After a lawsuit victory a year later, I still only got $4,000.
Brokers like mine above, can kiss my ______! I’ve seen it a lot. The loan officer, the one originating the deal needs as much of the money as possible. Why? The average loan officer makes $38,000 a year nationally. Any Broker thinking this is a King’s Ransom should try to live on that! If I made that little, I’d find another profession. The loan officer has to put up with a lot of BS on all sides of the fence: Broker rules, lender rules, customers, Di-Tech ads, competition, non-committal borrowers, etc. How much should a loan officer make for this? Taking phone calls on Saturday, Sunday, evening, family interruptions.
I want to see my loan officers make six figures. If not, there is easier money to make! How can they make this much, if a Broker thinks, “Hey, get out there any pay for my expensive house, Lamborghini, and lifestyle?” It’s amaz |
|
|
JohnCard
27 Posts |
Posted - 03/17/2005 : 4:30:01 PM
|
I agree. Find a company that cares about individuals/answers their emails/calls. I get emails from people everyday, talk to people on the phone, but when it comes decisian time to hire, only a small group of people are let in. My main concerns are experience, professional ethics, responsiblity, and attitude, then productivity.
I'm here to learn about the real estate industry.and read posts about things I don't know about. I decided to post a job offer just as an experiment, and worked
We're proud of what we have to offer, are proud of the fact that we don't charge uneeded fees to borrowers, and aren't looking for a thousand loan officers, just a few good ones. I think there's enough loan officers for all! I do thank everyone for their keen interest in this post. Again, very best of luck to all! Thanks-John
|
|
|
bledy1
394 Posts |
Posted - 03/17/2005 : 5:49:14 PM
|
| If you are interested in getting leads then you should buy an autodialer for me or have me do your dialing. I can bring any of you guys some great leads. This product only works when you know how to use it and I know how to use it effectively. I have helped many firms increase there leads and sales. Call me at (508) 317-4242 and lets talk business people. I have something that you can really benefit from and its not just my product.... Its my knowledge. I have custom tailored packages that will fit anyones needs and I dont have the overhead.. Hence I can save you money. Give me a call at (508) 317-4242. If you want to get leads and make money then try me!!! You can drop me an email at sales@autoreaper.com - This is a great site and im loving the way it brings together people that can really help each other out in success. |
|
|
midas
4409 Posts |
Posted - 03/19/2005 : 12:16:08 PM
|
| be carefull how you do this guys, you cant hire work at home lo's in all states unless you have an office every 300 miles across the us. the law states that an lo can only work up to 150 miles from there main office. otherwise they must be a seperate branch and be licensed. just trying to keep big brother off your ass. |
|
|
JohnCard
27 Posts |
Posted - 03/25/2005 : 3:38:13 PM
|
We have our bases covered, thanks for the heads up-John |
|
|
| |
Previous Topic | Next Topic |
|
|
|
