Mortgage company

driftboyz · Joined: 28 Aug 2007 Posts: 3

Does anyone known any good mortgage company out there with great commission split 100% or 70/30 80/20?

Haplo · Joined: 20 Jan 2005 Posts: 2422 Location: Springfield, IL

Where?

driftboyz · Joined: 28 Aug 2007 Posts: 3

I dont know? I am asking for ADVICE !!!! :?:

Haplo · Joined: 20 Jan 2005 Posts: 2422 Location: Springfield, IL

Then you need to ask a specific question. I mean, are you looking for a mortgage company on the moon? I have no idea, because your question tells us *nothing* about what you are looking for, other than some random company with a commission split.

driftboyz · Joined: 28 Aug 2007 Posts: 3

bla bla bla .............. :shock:

CertifiedMortgagePlanner · Joined: 23 Jul 2007 Posts: 4

Contact me, Carteret Mortgage does 70%. We are allowed in house referrals also up to 30%. Where are you located? I can put you in touch w/ my mentor. We have a office, but work from home offices mostly. Its all legit, not a net branch either.

Haplo · Joined: 20 Jan 2005 Posts: 2422 Location: Springfield, IL

Quote: bla bla bla .............. Shocked

:roll:

This is what we have working in the mortgage industry these days.

Loan officers that don't know how to price a loan, or take a complete 1003, or how to figure out a self employed borrowers income. But hey, they want 70%+ of whatever they bring in, they're just not sure how to ask a question.

Hey Chow, I think this guy's lookin for a job over in your neck of the woods.

chow · Posted: Thu Aug 30, 2007 12:32 am Post subject:

CW has a new boiler room operation on the north side.

I just don't know how that work out of home stuff works. :wink:

Haplo · Joined: 20 Jan 2005 Posts: 2422 Location: Springfield, IL

Yeah, their "local" rep is down south in St Louis for our area.

MortgageAdvisor · Joined: 30 Aug 2007 Posts: 5 Location: Scottsdale, AZ

DriftBoy:

You should look into a net branch, I highly recommend America One Finance, I have been with them going on three years. Yes, you get 100% of your commission. Best of luck

Jonathan

m2c · Joined: 03 Aug 2005 Posts: 937

MA.

You mentioned FHA in other posts and now I see you’re a net branch operation. I thought FHA wouldn’t tolerate net branches. Maybe times have change but would appreciate any input.

chow · Posted: Fri Aug 31, 2007 12:19 am Post subject:

m2c,

The bandwidth is shrinking on Netbranching.

m2c · Joined: 03 Aug 2005 Posts: 937

Ah Chow I thought the mix was verboten. Learn something every day. If I could “slide in” to net branching it MIGHT save a few bucks on the small stuff but structuring different companies might be a nightmare… and LOs working for the “fake” company and the real company … UGH!

I would like to cut cost for the mini-FHA product and as far as I can tell the big stuff can be kept separate. That’s were the big bucks are but the long gestation periods are a drag. Guess I go solo on the single family line and wait for the attractiveness of the product line to catch on.

chow · Posted: Mon Sep 03, 2007 5:46 pm Post subject:

m2c,

you taken a look at what's happening to netbranching as of late? HUD expressly forbids netbranching.

m2c · Joined: 03 Aug 2005 Posts: 937

Chow,

That was my impression. But MortgageAdvisor had pitched FHA programs on other threads and then mentioned on this one that he’s with a net branch (America One Finance), I figured there must be a way to do it. Certainly, HUD couldn’t have missed that AOF was a net branch operation. :oops:

Interested in the correct way to circumnavigate FHA biases but MortgageAdvisor has now gone silent.

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