r/loanoriginators Apr 02 '25

Announcement ***Rule Update Regarding Consumer Mortgage Advice***

50 Upvotes

One of the biggest complaints we receive on this sub is people posting for Consumer Mortgage Advice. We have tried addressing this by removing posts asking for consumer mortgage advice. Despite the no consumer mortgage advice rule, consumers still show up to ask and LO’s are still giving them advice despite it not being allowed.

With that being said, effective immediately all posts with consumer mortgage advice will continue to be removed AND anyone making the post or commenting on the post to give consumer mortgage advice will be banned for a period of at least 2 weeks.

We aren’t sure of any other solution at this time to dissuade people from commenting on these consumer advice posts, so we are going to resort to this and see if that cleans it up.

Thx.

  • Mod team

r/loanoriginators Jun 15 '21

Resource In-depth beginner's guide to a career in mortgage sales

470 Upvotes

Hello,

I wanted to make this post to help inform new and existing loan originator's on the different kinds of mortgage companies out there, as well as the different types of compensation structures. It is very difficult to compare overall pay through bps or tiers alone. The amount of work you'll need to do per loan depends heavily on the companies marketing, support, and pricing.

10/15/25: PLEASE NOTE I HAVE BEEN OUT OF THE MORTGAGE INDUSTRY FOR 3+ YEARS. While much of the information below is still relevant, others may be outdated.

[I try to regularly update this thread, but some of the info may be out-of-date. Last edit: 12/4/23]

[Please also refer to our FAQ for additional Q&A. You can click here for the FAQ]

In general, the steps to becoming a licensed loan officer are:

  1. Register on the NMLS website and provide all requested details.
  2. Complete mandatory 20-hour pre-licensing education through an approved provider, and study for the NMLS/SAFE Exam.
  3. Take the NMLS/SAFE exam and pass.
  4. Find a sponsor (usually a broker/lender to hang your license at / AKA who you will work for) and provide their details to the NMLS.
  5. Apply for individual state licenses through the NMLS website and complete any prerequisite requirements, which usually includes state-specific pre-licensing education. Wait for at least Temporary Authority to be granted (if applicable).
  6. Complete annual continuing education for relevant state licenses to keep license active.

If you are interested in becoming an independent mortgage broker, I have included some resources further down this post

Some non-depository companies that will hire you with 0 experience and pay for some or all of your training, testing, and licensing: Quicken Loans / Rocket Mortgage, Loan Depot, Cardinal Financial, AmeriSave, NewRez, Mr. Cooper, PennyMac, New American Funding, Freedom Mortgage, American Pacific Mortgage, JFQ Lending, Essex Mortgage, Network Capital Funding

Banks are depository institutions and therefore you will not need to be licensed to work for them. I believe banks typically have a higher base pay but less favorable commission structures.

If you want to go straight to a Brick and Mortar shop (or a few of the call-centers), you will need to pass your NMLS/SAFE licensing exam first. Before you can take the test, you will be required to complete a 20 hour training course. Most users here recommend Affinity: www.mlotrainingacademy.com

Don't bother applying for state licenses right after you pass your NMLS/SAFE exam, if you don’t already have a sponsor. Many companies will pay for you to get your licenses, so find out first if they'll cover those or not before you waste your own money.

Some quick definitions:

Basis points (bps): A measurement used frequently in the mortgage and financial industries. A basis point is a percentage of the loan amount. Examples: 100 basis points is equivalent to 1% of the loan amount. 50 basis points is equivalent to 0.5% of the loan amount. 275 basis points is equivalent to 2.75% of the loan amount. The majority of LO's pay is determined in bps. If you get paid 100 basis points (1%) per funded loan, and fund $1 million in volume for the month, you'll make $10k in commissions.

Brokerage: Originate the loans in collaboration with a larger lender/investor/servicer. Can shop around for the best rate and terms for the clients. Do not fund or underwrite their loans themselves.

Correspondent lender: Similar to a broker (almost indistinguishable from the client side), however they do fund the loans with their own money. They may or may not underwrite loans themselves.

Direct lender: Company that originates, processes, underwrites, and funds the loan themselves. If they service their own loans, they would be considered a "Portfolio Lender". In-house rate sheets, but more flexibility with pricing.

Contrary to what some might think, it’s not as easy as call center LO vs brick and mortar LO. There are a LOT of in between positions. But, if we were to broadly categorize:

"Call-center" positions:

These can vary from small brokerages to large direct lenders. The key factor is that leads are provided to you, either inbound or outbound. Many involve ZERO cold-calling. The great thing about this is that you can hit the ground running and not have to worry about building realtor relationships. You can also leave anytime you'd like. However, you won't be able to take these leads with you to another company. May or may not be heavily micro-managed. Back-end support and processing is usually pretty solid so you can focus on selling. Most call-centers are refinance oriented. When rates go up, they will shift their marketing to cash-out/debt-consolidation refinances, FHA to conventional refinances, and clients who have improved their credit.

Typically these are salary + commission but sometimes they can be either or. With a commission only model you can expect to get paid anywhere between 35-80 bps per loan. With salary + commission you can expect $25k-$40k/year + around 10-50 bps per loan. Some of these places will pay more for your self-generated leads. Many call-centers that utilize a tiered system will pay a flat fee per loan that will vary depending on the volume or units you originate for that month, however it can also be tiered in bps. Tiers and goals will often scale depending on market conditions, tenure, and title. You can EASILY make at least $70k+ at these call centers, with some LO's making $500k+/annually.

"Brick and Mortar" positions:

These are self-gen and can range from smaller brokerages to medium-large direct lenders. Usually there will be a local branch that you can optionally go into, but you'll be spending plenty of time out networking. Your success will heavily rely on the training you receive and your ability to generate a solid referral pipeline. Your business will be mostly purchase leads that are generated from your realtor partners, client referrals, and various types of marketing. This is not a position you can do for just 6 months or even a year. This is a career that you will spend years investing into. Most of these places expect you to come in having already passed the SAFE exam and potentially with some licenses under your belt. Expect little micro-managing once you are a senior LO on your own. Usually will have a loan officer assistant or processor that will closely work under/with you.

Almost all of these types of positions are commission only and pay much more than the call-center type positions would. Usually 100-275bps. HOWEVER, you will likely be originating significantly less loans, which is why it is difficult to compare. Expect the higher paying roles to also have some paycheck deductions for company resources like software, marketing, process, etc. You will also be working all hours of the day and night. You'll need to be available for realtor calls at 10 pm at night, and your stress levels will likely be high. On the other hand, you won't necessarily need to be full-time if you only want to originate a loan once every 1 to 2 months. Commission payouts will likely come much earlier than they would at a call center.

Becoming an independent mortgage broker:

Once you've had a few years of experience, you can become an independent mortgage broker if you should so choose. The benefit of this is that you get full control over what lenders you work with, pricing, processing, products offered, fees, etc. One potential route you can go is to sign on with NEXA, who actually will help you go independent from them. Other good resources to look at are AIME (Association of Independent Mortgage Experts) and Brokers are Better.

Call center structures I've encountered:

Quicken Loans / Rocket Mortgage (I worked there) (call center type)

  • Portfolio lender
  • Origination positions
    • Refinance or purchase only. Much of the company is refinance. Only some departments can do both, but usually you'll only get fed either purchase or refinance leads. Many sub-departments as well, like Current Client only, or Current Client 2nd voice only.
  • Lead flow/sourcing
    • Inbound and inbound transfers mostly. Robust lead sources: Credit shopping alert, lendingtree, company's website, current clients, remarketing (recycled leads). Leads are worked almost literally to death. You may be placed on an outbound auto-dialer depending on what sub-department you're in.
    • Phone is almost always ringing. Even if the lead quality is significantly lower due to it. Leads are categorized into bronze, silver, gold, and platinum. Your performance dictates what lead pool you get thrown into.
  • Hours per week
    • 65+ hour work weeks. Once tenured there are reduced hours programs, but will still work minimum 45-50 hours/week.
  • Base pay
    • $9 - $15/hr and OT is paid at a rate of half your hourly.
  • Processing / Support
    • Robust processing team. Pretty much lock and go. Don't need to interact with client much after that point.
    • Quick turn times. Sometimes same day closings.
  • Commission structure
    • Dynamic and goal based. Depends on your tenure, title, and present market conditions. Payout is dependent on percentage of goal hit.
    • Pay on Rate Lock / Conditional Approval for refinance (only company I know of that does this). Purchase is paid on closing now.
    • Average $150-$450 / per rate locked loan. Assuming a 70% funding rate: $275-$645 / per funded loan
    • Commission payouts come at the end of the following month (but remember you're payed on rate locks and not fundings, so the money comes in sooner)
  • Other details
    • Proprietary CRM/LOS (loan origination systems) called LOLA and AMP
    • Will pay for all licensing and training with 0 experience. Do not have to pay back.
    • Culture is fraternity-like / Lots of kool-aid drinking
    • Bad rapport with realtors

Local correspondent lender I worked at (similar to a brokerage) (call center type)

  • Origination positions
    • Can originate either purchase or refinance but they pay the same and marketing is done only for refinance. Since 2022 have moved to more of a mix, but they still focus on refi.
  • Lead flow/sourcing
    • Refinance based marketing. Only purchases through referrals.
    • All leads inbound through mailers. Very high conversion. Company has been using this model for 12+ years with success.
  • Base pay
    • Base salary of $30k/year, no overtime.
  • Hours per week
    • 40 hours / week
  • Processing
    • High level of work required from origination through closing. Processing wasn't great.
    • Turn times anywhere from 30 - 75 days usually.
  • Commission structure
    • Tiered flat fee commission structure:
      • 0 - 3 units: $150/per
      • 4 - 7 units: $350/per
      • 8 - 10 units: $700/per
      • 11+ units: $1,000/per
    • Commission payouts come at the end of the following month after funding
    • Quarterly bonuses depending on units funded for that period. Bonuses range from $1,500-5,000. Not everyone gets these bonuses.
    • Average LO doing 5 - 14 units a month
  • Other details
    • Excellent pricing and low-cost business model
    • Insellerate and Encompass CRM/LOS
    • Will pay for licensing. Fees only need to be paid back if at company for less than a year

A local refi brokerage (likely outdated since 2022)

  • Similar to the place above but paid in bps. Friend worked here. (call center type)
  • Base pay
    • Base salary of $30k/year with no OT (update 3/28/22: base salary is now a draw)
  • Processing / Support
    • More work required per loan than a larger call center. High turn over with processors created issues for the LO's
  • Lead flow/sourcing
    • Inbound refinance calls from mailers
  • Hours per week
    • 40 hours / week with occasional Saturday
  • Commission Structure
    • Tiered bps system:
      • 1 - 5 units: 20 bps/per
      • 6 - 10 units: 25 bps/per
      • 11 - 17 units: 30 bps/per
      • 18+ units: 35 bps/per

PennyMac (call center type)

  • Portfolio lender
  • Origination positions
    • Company is refinance focused. Does have separate purchase, portfolio retention, and new customer acquisition refinance teams
  • Lead flow/sourcing
    • All inbound company generated leads. Can only originate leads specific to your department. Portfolio, New Client Acquisition, Portfolio Purchase, and New Client Acquisition Purchase are not allowed to originate each other's lead types.
  • Hours per week
    • 40-45 hours / week. One scheduled Saturday per month required.
  • Base pay
    • $14.42/hr + OT if approved
  • Processing / support
    • Robust processing support. Mostly lock and go, but will likely need to occasionally intervene on the back-end to ensure your loans fund. Purchase teams have an equivalent of an LOA (loan officer assistant) onboard that assists with document collection.
    • Turn times around 15 - 40 days.
  • Commission structure for NCA
    • Tiered flat fee commission structure (updated 3/25/22):
      • 1 - 4 units: $375/per
      • 5 - 6 units: $637.50/per
      • 7 - 8 units: $750/per
      • 9 - 10 units: $937/per
      • 11 - 12 units: $1,125/per
      • 13+ units: $1,312.50/per
    • Senior LO's get quarterly bonuses between $2,500-$3,000
    • Everyone gets a $500/month bonus as long as they do not get any compliance fails. Each compliance fail is a $500 deduction to your pay. Compliance fails entail doing anything that violates company protocols.
    • Commission payouts 2 months later at the beginning of the month, from time of funding
    • Average LO doing 5-15 units a month.
  • Other details
    • Will pay for all licensing and training with 0 experience for recent college graduates. Will also hire with 0 experience on contingency of passing the SAFE exam within 2 weeks for non-recent college grads. Do not have to pay back licensing fees.
    • $6,500 draw for first 3 months. Only have to pay back if you do not hit certain production goals in the first 6 months you're tenured. You are considered tenured on month 5.
    • SalesForce, Blend, and Encompass CRM/LOS.
    • Typical call-center type micro-management, but generally a lax environment.
    • Very compliance oriented. Probably more so than any other company out there.

Cardinal Financial (call center type) (likely out-of-date as of 2022)

  • Origination positions
    • LO position is majority refinance but can/will do some purchase. No separate teams. Since 2022, I imagine they are at least 50% purchase now.
  • Lead flow / sourcing
    • Outbound dialer 5-6 hrs a day. Outbound warm leads, but also some inbound.
    • Dialer calling internet lead sources, credit triggers,
  • Hours per week
    • 40 - 45+ hours/week
  • Base pay
    • $12/hr plus OT
  • Commission structure (likely out-of-date as of 3/28/22)
    • Self-generated leads pay 100bps
    • Tiered flat fee commission structure for company generated leads
      • 1 - 2 units: unpaid
      • 3 - 4 units: $1,200/per
      • 5 - 7 units: $1,400/per
      • 8+ units: $1,600/per
    • Quote from a manager: "20 loans at quicken is equivalent to 10 here"
    • Average LO doing around 8-9 units / month
  • Other details
    • Proprietary all-in-one LOS called Octane. Don't need to switch between multiple software to originate

NewRez (call center type) (likely out-of-date as of 2022)

  • Portfolio lender
  • Large call center shop. Believe its mostly inbound
  • 40 - 45+ hour work weeks
  • Commission structure (likely out-of-date as of 3/28/22)
    • I do not know if the comp tops out, but the commission plan I was sent only showed commission amounts for 14 - 29 units/month
    • Comp plan sample:
      • 14 units closed: $10,500
      • 15 units closed: $11,250
      • 16 units closed: $12,000
      • 22 units closed: $17,600
      • 29 units closed: $26,100

Union Home Mortgage (call center type) (likely out-of-date as of 2022)

  • Portfolio lender.
  • Purchase and refi I believe.
  • 40 hrs / week, up to 55 hours
  • Base pay: $12/hr (not sure about OT)
  • Have multiple pay structures: Example of one:
    • 1 - 3 units: 60 bps
    • 4 - 7 units: 70 bps
    • 7+ units: 80 bps

AmeriSave (call center type) (likely out-of-date as of 2022)

  • Primarily refi. Not sure if they have separate purchase and refi teams. Probably doing a lot more purchase now since 2022.
  • 100% commission normally. However they do offer some base pay plus commission programs.
  • Around 45-60 hours / week
  • Sometimes do not rate lock til end of the loan process (may no longer do this but they did this a lot during COVID)
  • Commission structure
    • Various programs and changes are constantly being made.
    • Paid semi-monthly
    • $400k+ in funded volume: 50 bps/per
    • Sub $400k in funded volume: 10bps/per

Better.com (call center type) (likely out-of-date as of 2022)

  • From my understanding this company does things differently in a lot of ways, including salaried LO's that get bonuses or deductions based on performance.

Some Brick and Mortar structures I've encountered:

NEXA (brick and mortar) (likely out-of-date as of 12/2023)

  • Brokerage with access to 100's of lenders
  • Lead flow / sourcing
    • Mainly self-generated, but recently they've put together an in-house lead generation team. You can purely work these leads if you so choose, for lower compensation.
    • Majority of volume will be purchase leads generated through realtors, marketing, and referrals
  • No base pay. Commission only.
  • Hours per week will vary but expect to put in 40 - 55 hours / week
  • Processing / support
    • Processing is outsourced to a 3rd party company where all processors are paid on commission. Therefore, highly motivated. And if you don't like your processor, you can request another.
    • Turn times entirely depend on the lenders you choose to work with. Could be days or months.
  • Commission structure
    • 150 bps - 275 bps per self-generated unit funded for QM loans. Up to 600 bps for Non-QM.
    • Depends on if you are in a mentorship program and the monthly volume originated. Numerous operational expenses to take into account though. Some automatically deducted.
    • Company generated leads pay out 50% of what your self-gen comp is
    • Payouts I believe are the week following fundings (or within a few weeks)
  • Other details
    • Near full autonomy over how you run your business. Will need to manage own networking and marketing.
    • Minimal benefits
    • Optional mentorship program to help you get started
    • Create own hours and schedule (but might be tied down during mentorship)
    • Flexibility in what CRM you want to use
    • Can be 1099 or W2
    • I attended one of their weekly seminars. It is not an MLM. They just have a great referral program that is OPTIONAL

Geneva Financial (brick and mortar) (likely out-of-date as of 12/2023)

  • Direct lender
  • Self-generated only
  • No base pay, commission only
  • Work under a branch manager who determines some P&L (mainly staffing), Once you are experienced you can become a branch manager yourself.
  • Responsible for marketing, referrals, networking, etc.
  • Paid 175-220 bps per unit funded

Obsidian Financial (brick and mortar) (likely out-of-date as of 12/2023)

  • Direct lender but also a broker
  • No base pay, commission only
  • Non-QM comp up to 500 bps. QM comp up to 275 bps.
  • Diverse selection of products offered
  • Commission payouts within 3 days. Can be 1099 or W2.

Other large "Brick and Mortar" companies: PRMG, Fairway Independent Mortgage, PRMI,

There are many companies and sales positions I have not listed here. Some of those include HELOC only, reverse mortgage only, credit unions, banks, solar only, and more.

Feel free to comment with any questions, or if you have any input on what else to add to this post. Most of my knowledge and experience is from call-center type places. I would love to add onto this based on other people's experiences as well. Especially with those sub-categories I listed above.

The best way to find LO positions is by searching on LinkedIn, Glassdoor, or Indeed. You can also try messaging recruiters directly on LinkedIn for companies you are interested in working for to see if they are hiring.

Lastly, feel free to message me if you need any additional help!


r/loanoriginators 48m ago

LO Data

Upvotes

I am a third-party processor and I am trying to work grow my business and work with new loan officers. Is there a website that can pull the names of originators by state? I am already familiar with NMLS Consumer Access.


r/loanoriginators 8h ago

Getting into office meetings

4 Upvotes

I'm curious how other loan officers are getting into real estate offices to do lunch-and-learns or team meetings.

Around me, it feels like almost every productive brokerage already has an in-house lender. Keller Williams offices have CrossCountry or Keller Williams Mortgage, Century 21 and Coldwell Banker often have Guaranteed Rate, and many of the other larger brokerages have their own preferred lender as well.

I've spent hours calling local brokerages, but the response is almost always the same—they already have someone handling their meetings and presentations.

For those who have been successful breaking into these offices, what strategies have actually worked? How are you getting the opportunity to do lunch-and-learns or present to agents when the office already has an established in-house lender?


r/loanoriginators 2h ago

80% cash out on investment with bank statements and no 6 month seasoning?

1 Upvotes

I have a borrower currently in a hard money loan who wants to keep the property as a rental. They’re looking to cash out at 80% LTV using bank statements.
The catch is they’ve only owned the property for about 3 months.
Does anyone know of a lender or program that allows:
- 80% LTV cash-out
- Bank statement qualification
- Investment property
~3 months seasoning
Or am I chasing a unicorn? Appreciate any recommendations.


r/loanoriginators 2h ago

New LO

1 Upvotes

Hello everyone I’m 23M and soon to get my MLO license. I’ve been working a security job and I made 38k last year. I live at home with my parents so I don’t have any bills except 400 for my car note. I’m excited to start and I set a goal to earn 55k my first year. Does anyone have a tips to starting out


r/loanoriginators 4h ago

I know it's not ok posting things related to jobs... just wanted to say I solved the Gohighlevel + Arive integration in case you need it (took 1 month and a half) [free demo for you]

1 Upvotes

Not selling anything and not recruiting just sharing in case it saves someone the headache I went through.

I finally built a working Arive + GoHighLevel integration and a full set of automations on top of it. The loan status flows from Arive into GHL so the pipeline mirrors the actual stage automatically (Application Sent → Qualification → Pre-Approved → Loan Setup → Submitted to UW → Clear to Close → Funded) — no more dragging cards by hand.

On top of the sync, I built automations for these cases:

  • Speed-to-lead — instant text + email the second a lead comes in, with EN/ES branches.
  • No-answer follow-up — multi-touch sequence that stops the moment they reply.
  • Appointment reminders + no-show recovery.
  • Application abandoned follow-up.
  • Objection nurtures  tag why a lead can't move forward (credit repair, down-payment saving, debt paydown, selling current home, spouse coordination, waiting on taxes, etc.) and each reason runs its own long-term drip + a reminder task, so nothing goes cold.
  • Auto stage transitions a hot lead that goes quiet auto-drops to long-term nurture, and a target date/rate trigger pulls them back to hot when they're actually ready.
  • Refi rate watcher  set a target rate per past client; when the market hits it, you get pinged and the client gets a heads-up.
  • Post-close nurture review requests + loan-anniversary check-ins.

Took a ton of trial and error (GHL's workflow builder has real quirks if/else branches don't converge, triggers behave weird, etc.). If any of this is something you've been trying to set up, happy to answer questions on how I structured it.


r/loanoriginators 15h ago

USA mortgage thoughts?

0 Upvotes

Any LOs work there and how do you like it


r/loanoriginators 1d ago

Newly licensed MLO looking for advice on Call Centers

3 Upvotes

I passed the SAFE Exam and have my license. I want to start at a call center rocket or loan depot to learn the business. I live in Houston and it looks like they do not have any offices here. Is it possible to start out remote? Any advice would be great.


r/loanoriginators 19h ago

Attorney considering this world

0 Upvotes

Hey all--

Been a long-time lurker of this subreddit -- I actually read it just about every day. Feel free to remove this post if it isn't appropriate for the community, just not sure where else to turn with this question and wanted to see if anyone could provide some perspective.

I'm an attorney practicing in a completely non-finance, non-housing area of law. Totally not related to this world. My current job is great, and I'm not looking to move jobs in the near future. Wouldn't even start considering a change for about 1.5-2 years at minimum.

Anyway, I bought a house last year and just really loved the financing aspect of it. Just really nerded out on it and learned everything I could, from origination, all the way to MBS. I've had an interest in consumer finance since law school (secured transactions and bankruptcy were my favorite classes) but I'm also not at all a hard numbers person (I got a 2 on the AP Calc exam, which ended my mathematics study haha).

But ever since the home purchase, following this world has become a daily hobby. I check Mortgage News Daily every day, not just for the rates but the write-ups on what's going on in the market and also his updates about players in the market and what's going on. I read about the conferences going on and think, "wow, I'd love to attend that." (I KNOW. It's weird).

I think for me what is the most interesting are the transitions from origination to aggregator/wholesaler to, eventually, MBS (agency or private label). The plumbing of it all. I also really am fasincated by servicing -- the aggregator's decision to retain or sell, MSR investment and hedging, the decision to subservice, and the whole regulatory environment surrounding it (especially for Agency MBS servicing).

I know this is all very vague -- and I feel awkward even posting it! I just have no one in my real life is even somewhat associated with this world. All of this is to simply ask -- can you think of a role for an attorney with no formal consumer/finance experience in the lifecycle of mortgages? Is there any role you deal with (from day 1 up to MBS management) that would seem like a good match for someone in my position? Like I said, it's like a whole world I'm interested and learned so much about, but at the same time, don't know much about the day-to-day. I'm not even necessarily looking for an attorney role -- I could be perfectly happy in a role that is not the practice of law and instead just lends itself to the skills of an attorney.

It's been over a year now and clearly, this is more than a passing interest. I read the this subreddit and the Mortgages subreddit daily and never find it dull. Just wondering if this might actually be a possible career passion, but wondering if there's anywhere I would fit in. For the record, I don't think being an MLO would be for me -- I'm just not really a sales person and I'm not at a point in my career where hustling for business from the ground up appeals to me. I'd rather just stay where I am now instead of doing that. But I'm open to hearing more.

Thanks in advance for any suggestions/wisdom/kind words, etc. Cheers.


r/loanoriginators 1d ago

Question DCSR LENDER 80 LTV cash out

1 Upvotes

Any DSCR lenders that can do 80 LTV cash out, SFR, vacant but recently rehabbed?


r/loanoriginators 1d ago

Switching Brokerage - Keeping ARIVE LOS -Best Way to Transfer

1 Upvotes

Hey All,

The company I work for is a team of LOs, currently under one brokerage. We are possibly going to be switching to another Brokerage, but keeping ARIVE as our LOS.

ARIVE support says there is no way to transfer current database with all info / notes / docs. This seems wild to me as we are not switching LOS at all. We are being told we will need to do it manually

Has anyone found an easy way to do this without having to manually export every 3.4 and document and re-upload back into ARIVE?


r/loanoriginators 1d ago

ISO LENDER FOR UNDER 100K LOAN AMOUNT MINUMUM 40K

1 Upvotes

Hi,

I am a broker but can not find anyone to lend on a property for a family friend who owns invesment properties all over the USA. Details as follows: Balance - 50k - 75k (multiple homes purchased seller financed) // Ivestment property (DSCR loan) but I cant find any lenders that will do these loans. please help


r/loanoriginators 1d ago

Per Diem Pay Options

1 Upvotes

Hi all, I have a scenario I just am not quite sure how to handle. scenario:

Oil field worker, 9 months of the job
Base pay $75k
Gets paid about 50% of that in per diem whether its shop pay or field pay
Has 680 credit, low down payment, was hoping to use a state DPA but they don't seem to want the per diem.
W2 employee, not 1099

He makes decent money, is there any way to get this done QM or non QM with 10% or less down payment?


r/loanoriginators 1d ago

Discussion LO with piercings and tattoos

4 Upvotes

I am an LO and have been in a retail shop for the last year and a half. I’ve been considering a switch to a broker role building my own book of business. the only thing is i have tattoos, a nose piercings, and stretched ears. I just want to know how this could affect me building relationships with referral partners or if I’m just overthinking it. I don’t believe that looks determine knowledge outright but I’m curious to see what this community thinks.


r/loanoriginators 1d ago

Seeking MLO mentor

3 Upvotes

Seeking mentorship as a Mortgage Loan Originator. I am few months in the business, licensed in NY, got few deals done. Now that I understand what I need to learn more this is may be the best time to hire mentor.

I’m thinking TLOP by Dustin Owen.

Has anyone taken his classes? What feedback you can give?


r/loanoriginators 1d ago

Question How to get past cashout seasoning

0 Upvotes

Have a client that did a fha cashout less then a year ago wants to do another cashout but can't due to 12 month seasoning he does not want to wait another 3 months, what's my options


r/loanoriginators 1d ago

New LO Business

1 Upvotes

I’m a new LO and am going to a broker - I have life responsibilities that don’t allow me to be IN an office for 40 hrs a week taking/making calls so please be nice. Any advice on how to drum up business?


r/loanoriginators 2d ago

Career Advice What follow up strategy are you guys using to stay on your COIs radar

3 Upvotes

What follow up strategy are you guys using to stay on your COIs radar


r/loanoriginators 1d ago

Need a stand alone 2nd up to 80%cltv, owner occ, sfr, full doc, 680 mid

1 Upvotes

Anyone?


r/loanoriginators 2d ago

How do those of you that own your own broker shop handle those niche scenarios/difficult files?

1 Upvotes

I only have experience as a call center LO and though the comp is small, I still have the comfort of runnig difficult scenarios by my manager/ or loan scenario team. Of course my main goal is to have my own brokershop after I've gained enough experience but I know that I'll still run into those funky scenarios that'll stump me regardless of how many files I have under my belt. So how do you broker owners handle them if you don't have anyone else to help you?


r/loanoriginators 2d ago

Worth it?

0 Upvotes

Was offered a job as a LO, mostly focusing on VA loans. The branch is located next to a large military base with lots of military members coming/going. The office seems to be thriving and thus the need for more LOs but my biggest concern is going from a guaranteed salary to a commission only role. How long did it take for you to see decent consistent paychecks? Is it worth it as a career? I have about 3-4 months of living expenses saved just to give me a cushion just in case things are slow


r/loanoriginators 2d ago

Career Advice Thinking of making a change. Need advice!

1 Upvotes

Hi all! I am a MLO (licensed in TX and CO) currently working for an independent firm in the DFW area. I had a connection there and got the job immediately after I earned my license back in March. However, the pay is 100% commission, and it’s an extremely laid back environment (so no training or resources, etc.) They said they would help me once I got a loan, but I’ve had no luck (which, again, means no training).

Bottom line, I have no money and something needs to change. I have no idea what I’m doing, and listening to podcasts only goes so far.

I’m thinking about applying to Rocket Mortgage, a bank, or something similar so I can have some structure and training, but is this the right move? If so, do I need to transfer my sponsorship? Any and all advice is welcome!


r/loanoriginators 2d ago

ANY 80% LTV CASH OUT REFI DSCR NO SEASONING LENDERS?

2 Upvotes

Need to find an 80% cash out refi DSCR with no seasoning. Doing strictly brrrr strategy with a bunch of clients and need to find this product. Anyone u know out there? Was using deep haven, but they are now requiring 6 mo seasoning


r/loanoriginators 2d ago

Career Advice The Loan Store Business Development Representative Position

4 Upvotes

New to the industry here, but what is this sub's take on The Loan Store, and is their BDR position something that requires licensing to break into, or is it just a high-volume sales role that happens to work with originators?

More info: https://tlstpo.com/