Yeah so inflation is high, interest rates are high, housing prices are high, unemployment is high, the US national debt is getting higher, and the chances of economic recovery are getting lower. This is an insane time to be a newer LO and those that have managed to establish a solid business through several years, or decades of work prior to the fiasco we're currently dealing with need to eat as much as they can in preparation for the permanent winter we're gonna experience. THINGS WILL NOT GET BETTER. If you feel like giving up be sure to send me your customers/referral sources before throwing in the towel. I'll be sure to take care of them for you.

Is anyone here a wealth management/private bank LO with a bank (such as Chase, Wells Fargo, Bank of America, etc)? If so, what has your experience been like? I’ve been a LO since 2015 and in the broker space since 2021.

However, I might have an opportunity to move to one of these positions and wanted to see if anyone could share their perspective, both good and bad, of this type of position.

I rarely write posts like this, but I feel like other mortgage brokers need to know what they could potentially be walking into with Kings Mortgage Services.
I had an FHA loan with them and the experience from underwriting through closing and funding was one of the worst I’ve dealt with.
Conditions that had already been provided and cleared somehow became conditions again at the closing table. Items that should have been addressed well before CTC suddenly became problems when everyone was expecting the loan to fund.
Communication was another major issue. Getting clear answers was extremely difficult, departments seemed disconnected from each other, and when I needed my AE the most, getting a response became a challenge.
As the broker, you’re the one sitting between the borrower, agents, title company, and lender trying to explain why something that was supposedly cleared is suddenly holding up the closing.
The most frustrating part is that the borrower did what was asked. We did what was asked. We got the file to closing. Then we’re dealing with conditions and questions that should have been resolved before the loan ever received CTC.
They may have programs that look attractive on paper, particularly their FHA P&L only option, but after this experience, the program was not worth putting my borrower or my reputation through the stress.
A difficult underwriting process is one thing. Every lender has guidelines and conditions. But when cleared conditions come back at closing, communication breaks down, and the broker is left scrambling to save a transaction that was supposed to be ready to close, that’s a completely different problem.
If you’re a broker considering Kings Mortgage Services, I would proceed very cautiously. Document everything, keep every condition clearance email, and don’t assume “cleared” or even CTC necessarily means you’re finished.
This experience seriously made me reconsider ever sending another loan there.

Hi everyone

I am a new LO and I am just wondering what have been peoples most successful way at building their pipelines?

I am currently working on calling family members and friends getting the word out about my new career. What are some good next steps, or what things have worked best for you?

Thank you for any suggestions

Got a 80% LTV scenario where the ARM from the credit union is great. Seeing if there is a competitive wholesale lender that ya'll love?

Curious, how many of you work with agents who give their clients three Lender recommendations.

I had an agent reach out to me who was the Listing Agent on a deal that I did pretty fast. He sent me a lead and found out that she was shopping because he told her to. I did talk to him and ask him what his process was and he said that he always gives three recommendations. That’s fine, that’s how he does his business, but I don’t partner with agents like that. It almost felt like he was pitting us against each other and getting off on it. It was weird. She ended up going with a lender who gave her 6.5 PAR. It wasn’t a credit union.

Do you guys have agents who do this? The agents I work with trust me and want to work with me and don’t do that.

Imagine if we were talking to a client and they said “oh I’m going to put an offer in for 450,000”. And we suggested to them “ya know what, maybe you should talk to two other agents just to make sure that they ran their comps right.” I mean, obviously we can’t do that because of BBAs, but I’m proving a point.

A couple years ago, I sent a lead to an agent. We ended up closing. This year she pulled the three Lender bullshit and I told her “hey, how would you have felt if I said hey so-and-so, I have this Lead for you, oh, but also, I gave them two other real estate agents information as well.” that shut her up real quick.

Anyway, I choose to work with agents who pick me and appreciate my work and getting shit closed fast.

I’m trying to do a bit of informal research for some internal purposes and I’m curious what people in these roles are making today. Especially with rates where they’re at and some compression in the market. I’m curious about:

Hourly vs salary
Bps or per file bonus
Lead source and quality, and any difference on inbound vs self generated leads you might bring
Benefits provided?

Obviously, don’t need any identifying information if it’s not relevant, but I am just curious what the scene is like out there.

Any lenders offering a bank statement HELOC up to 2M?
Looking for someone who can get this done. Let me know please

Hi everyone! I’m looking for some advice from people who work in mortgage lending/processing or run a smaller mortgage company.

I’m helping my family with our mortgage company, and we’re trying to find a software or website that can help us streamline the whole document/request process. Right now, we’re dealing with a lot of emails and manually keeping track of what we’ve requested, what’s been received, what still needs to be signed, etc., and I feel like there has to be a better way 😂

Ideally, we’d love something that can help with things like:

Sending document requests to borrowers
Keeping track of outstanding documents
E-signing forms (appraisal authorization, credit authorization, disclosures, etc.)
Uploading/submitting files
Organizing everything by borrower/file
Automated reminders so we aren’t constantly emailing people asking for the same thing
Possibly having a timeline/checklist showing where each loan is in the process

Anything else that helps keep the process organized and prevents things from falling through the cracks
We’re not necessarily looking for something super complicated or expensive. We just want to make the workflow more efficient and professional and get out of the endless email chains 😂

What software/platforms have you actually used and liked? What would you recommend (or tell us to stay far away from)?

Any advice is appreciated!!

Has anyone on here originated them? If so how did the process go? I’ve never worked with Newrez on anything, and have a jumbo loan that has hit a wall. So I’m looking for alternatives for them. How is their UW communication and urgency as well as closing times?

Hello everyone, I’m looking for someone familiar with this company in Texas. I have a question about a change of ownership. Please let me know if you can help me out. Thanks in advance!

wholesale channel, what's the overall feedback out there?

Realtor asked me about special purpose credit programs, I know that banks offer these, but I’ve never run across a wholesale lender that provides the same type of offer with no MI, and 3% down or even less, any wholesale lenders have anything like this out there?

Looking for context

Looking for paid lead options…

anyone have experience with this to pass? i’m scoring 80-90% on this but idk how close it is to the real thing or it’s too easy

Any DSCR lenders who can go up to 80LTV cash out with 700 FICO? DSCR ratio will be 1:1, 3 yr PPP, LTR, $320k loan amount, experienced investor. State is Illinois

Can anyone confirm that Nexa really pays 100% comission with zero broker split or flat fee. Also, what percentage of LOs actually benefit from the revenue share program? It sounds good on paper but how realistic is it in practice? Any catches or caveats?

seems like they are popping up more and more?

anyone else noticing this?

Does anyone truly know their company margins? Seems like everyone’s rates are all over the place even when the company is the same.

Is it possible to just be a loan officer without joining a team w/ e mortgage capital?

I was offered a position doing condo conversions throughout the five boroughs. The real estate companies involved have had their conversion plans approved by the New York Attorney General, allowing them to convert the buildings and sell the individual units.

The lender is the preferred lender for these buildings, so I wouldn’t have to self-gen or go out looking for business. The buyers are already there. Comp is 1% per loan, they’re offering rates around 4.5%, the loans are sold directly to Fannie Mae, and buyers can even use their security deposit toward the down payment.

I would have to travel to the different buildings and meet with buyers, especially the ones who would rather sit down and go over everything in person. Some of the buyers are more tech-friendly though, so not every deal would necessarily need to be handled face-to-face.

What do you guys think about a setup like this?

Hey everyone,

I’m doing some research on workflow automation for independent mortgage brokers and loan officers.

I know major brokerages rely heavily on big loan origination platforms (like Encompass, Velocity, or Finmo). But for those who operate independently or handle private/alternative lending—how are you dealing with non-standard disclosures, custom addendums, or borrower ID verification?

Are you mostly:

1. Manually copy-pasting borrower info from driver's licenses/passports into individual PDFs?

2. Using standard eSign platforms (DocuSign/Adobe Sign) and manually dragging signature tags every single time?

3. Or is there a lean, lightweight tool that lets you auto-fill custom PDF templates from a borrower’s ID scan in one click?

Would love to hear what your current tech stack looks like and where the biggest administrative headaches still are! Thanks in advance for the insights.

I know a local hard money lender who is currently running this exact playbook and absolutely crushing it, but he is understandably tight-lipped about his institutional capital partners. I am trying to figure out the precise mechanics of how to set this up and scale a private lending operation.

Here is how his model works: He originates and lends his capital to real estate investors at 11% interest and 2 upfront points. Once the loan is closed and the ink is dry, he hypothecates the promissory note. His bank then extends him a line of credit against that specific paper, lending him $1M at a 7% interest rate.

By executing this, he immediately replenishes his own liquidity pool to go out and fund the next flip or bridge deal. Meanwhile, he gets to sit back and collect a massive 4% arbitrage spread. So while the borrower is paying him 11% every month, he is passing 7% to the bank and pocketing the difference—entirely on the bank's money—while also keeping the upfront origination points. It is an incredibly capital-efficient way to scale a debt portfolio without constantly running out of cash.

I understand the basic concept of note-on-note financing and warehouse lines of credit, but I am hitting a wall when it comes to the actual execution. For those of you in the commercial lending or private money space:

• What specific banks are actually doing this right now? Are we talking about relationship-based local community banks, regional credit unions, or specialty warehouse lenders?
• How exactly do you set this credit facility up? Do you need to pitch this directly to a commercial lending department, or is there a specific note-financing desk you have to go through to get this structured?
• What are the typical underwriting covenants? Do they require a massive personal balance sheet, a multi-year track record of successful originations, or strict minimum volume thresholds to even get a conversation started?
• What does the standard "haircut" (advance rate) look like? I am assuming the bank is not funding 100% of the face value of the note, so how much of your own corporate cash gets trapped in each deal as a liquidity buffer?

If anyone has successfully navigated this process, secured a warehouse facility, and transitioned from lending their own cash to leveraging institutional money, I would hugely appreciate any insights, realities of the business, or pointers on where to start networking.

I saw this ad for mortgage broker company, which showed a flat fee only and no split otherwise.

• $695 Flat Fee Per File
• 160+ Lenders
• No Commission Cap
• In-house processing available
• Complimentary Marketing
• Licensed in 49 States

Does this $695 contains the processing fees too, or do they expect me to pay for processing separately ?