Employment Opportunities

About Us 

Our company is in the midst of revolutionizing the mortgage industry. We have implemented a TRUE Flat fee concept. This TRUE flat fee concept allows us to beat virtually all loan quotes customers receive from the competition. It is this concept that has resulted in our need for loan officers.

About our Loan Officers

Our loan officers need to thoroughly understand and accept our concept. Our competitors typically pay their loan officers a percentage of fees collected. This can result in fees to the loan officer of several thousand dollars. The loan officer we are seeking to attract is one whom understands the concept that although they are receiving a much lower per loan fee they are closing up to 90% of all the loans they quote. This winds up generating a much more stable income for the loan officer.

Our Systems

In order to offer a TRUE Flat fee we found it necessary to add efficiencies to our loan process. Not only will the loan officer be able to close a much higher percentage of their loans they will also benefit from our improved efficiency.

Loan Officer Duties

Our loan officers are only responsible for the following functions

1. Obtain the customer
2. Discuss the clients loan scenario with them while filling out a company provided questionnaire
3. Submit the loan scenario to our internal underwriting department
4. Discuss with customer our FlatFee concept and present them with their rates
5. Assist in the gathering of the needed loan application and any other loan disclosures and loan paperwork needed to process the clients loan.
6. Maintain communication with our processing department and the customer in order to assure a smooth transaction

Company Duties

Our company will provide many of the services and functions “normal” loan officers in this business are required to provide

1. We will review loan scenario, enter into our database, and shop the loan for the loan officer
2. We will create and send any quotes and Good Faith Estimates to the loan officer for presentation to the customer
3. We will create loan disclosures and send them to the loan officer or direct to the customer
4. We will send file to processing
5. We will monitor loan throughout the closing process
6. We will keep the loan officer apprised during the loan process
7. We will do compliance audits as required by state and federal law

Our Ideal Candidate

Our ideal candidate is someone that is hard working and has an entrepreneurial spirit, this candidate should have some marketing and/or basic sales experience. They should be well versed using computers and email. The typical loan closing takes about 30 days so the candidate should have the means to earn a living until this business begins to develop. Our interview process will require the candidate to put together a basic business plan to show us how the candidate expects to succeed in this business.

Compensation

Our company earns a total flat fee of $1,495 per closing and have budgeted $300 per closing to the loan officer that generated the business. A new loan officer should only expect 1-3 closings for the first several months. Once a loan officer is acclimated to the process and can generate their own leads they can expect to close 10-15 loans per month.

Next Step

If you are interested in this position please fax your resume along with a cover letter to 775-251-5537

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Author of this article is Danny Garcia, this and other articles related to real estate investing and real estate investing mortgage loans can be found at www.InvestorMortgage.org   

 

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