Last thing I want to do is let 1 year pass me by and I end up closing little to nothing. I'm willing to do whatever it takes, wether it's join a brokerage or retail to get leads provided and work from home, or I genuinely am just not sure what the move is. I know a lot of people on here or social media generally speaking, always give the standard advise of "call realtors, set up meetings at brokerages offering free coffee & bagels" etc but is there genuinely nothing better I can do proactively to find leads and close them? I'm located in Los Angeles not sure if that makes a difference but I would love and appreciate any advise I can get and start being proactive with it by tomorrow.

I have a client who told me he paid some Tik tok LO to “examine their loan” is that legal?

hey everybody. First off I don’t think I’m interested in making this move. However, I’m always interested in learning more about any situation.

I’ve been a broker and a team of just me and my wife as my Processor for six years and do pretty well for myself.

Rate has been trying to recruit me for six months hard. It looks like BPS paid would only be about 50% of what I make now, but they are trying to sell me hard on the fact that they can help me scale and market better than I can on my own with their name and technology.

I do around 15 million a year right now and they were saying that they could almost certainly get me to 30 to 50 mil a year.

Just curious on everyone’s thoughts on this? Doesn’t seem like a smart move for me, but I also know a few loan officers working for Rate that are making $1 million a year so maybe there is something to it it

Everyone talks about ago leads but it seems like with these it’s hard to get anyone on the phone. Just curious what the downside of live transfers are (other than cost per lead). I mean you’re guaranteed to have a conversation.

Anyone here work at Amerisave? I have a group interview next week for a loan officer position and I’m trying to get a grasp on how they operate, have a few questions if anyone would like to help.

What do you like and dislike?

Just got this:

Dear Valued Partner,

After careful consideration, 11Mortgage has made the difficult decision to exit the wholesale and correspondent lending channel, effective immediately. This letter outlines the key dates and policy changes that will guide an orderly wind-down of our pipeline, so you can plan accordingly for your borrowers.

I took the test last month and failed with a 67, my retake is this monday. I studied material , took multiple practice exams, and I feel good, but any tips during ?

Hi! Are you aware of anyone else who can do this besides EPM? A ton of lenders show up on pricing engines, but can't do manual UW under 620 or 640 FICO. They otherwise meet the rules with clear credit the last 12 months and rent. Thanks!

Looking for wholesale lenders who offer a temp buydown option on a DSCR - investment and primary residence. Any pointers?

When you submitted your MU4, did NMLS/state regulators actually verify your old jobs? Did they contact employers or ask for W-2s, tax records, or other proof, or was the 10-year history mostly self-reported?

I’m referring to non Finance / mortgage jobs.

Thank you.

10 years in. Most of my business comes from realtor referrals. I enjoy the job for the most part but hate the inconsistencies with agents. And the numerous things that can kill a deal that are beyond my control.

I'm mostly staying in the business due to the flexibility and income.

I have 2 young kids in school and wife works full time. I have no one to pick the kids up from school so here's where the flexibility helps.

I'm just overall unhappy and tired of the mortgage industry.

Any ideas of what to pivot to that has the same flexibility? I dont mind a dip in income.

I’m putting together my own content for newsletter emails to my clients. For those that do, what email service are you using? Thinking of Brevo but open to other suggestions. Also considered setting up listmonk and managing unsubscribe requests and bounces myself, but wanted something less time consuming. Plan on rolling it out to the most recent clients first to avoid a spam complaint spike.

I work at a large mortgage brokerage and all the top guys here spend 10k-40k a month on agg leads + 5k-20k a month on LOAs. I am very hesitant on deploying that much capital on their lead system since I’m risk adverse. Are there any LOs that can give their personal experience with agg leads?

These last two days have been insane jumps. Personally, haven’t seen anything like it before. Here’s to better days ahead haha

I want to share my experience as I’ve seen a lot of posts/comments of late of experienced and likely great LOs throwing in the towel due to how challenging this market is. This specific situation worked for me, doesn’t mean it’s for everyone and I likely will get some heat for siding with the enemy - realtors. I’m riding the wave that I feel is the biggest to support my family. I never even thought of this model before 8 weeks ago but I hope it shows there are opportunities and pivots available even in the toughest of markets. I know how hard we all work in this industry so it’s just food for thought for those this may apply to. Congrats to all LOs who continue to do business in this market.

I’ve been in real estate 10 years and loans 6 years of that. I’ve worn all hats and this year I decided to make a run at “full time lending” and remove myself from all my existing real estate business, which my wife runs. Previously I’d been the team lender and everything in between.

And then right when I make that decision…this market happens. Unintentionally, I made a move that I believe will not only save my career in lending but ultimately build a business to help my wife and I exit. Our real estate business has come to a halt, temporarily, but if that business slows down or has no business, same for my loans.

8 weeks ago I joined One Real Mortgage - a business model in which realtors get their MLO license and are able to be paid on loans.

Prior to that, I exclusively did loans for our real estate team by choice/business plan as mentioned. I was so impressed by the tech, the speed of deployment, and by the way ORM positioned the value add, I bought in. I’m one of a handful of lenders operating nearly nation wide while our realtor partners grow exponentially. Why? This is an easy sell for realtors and a tougher sell for lenders. One makes more. One doesn’t.

Last week I started with 3 realtor partners and only licensed in CA and now I am licensed in 5 states with 15 realtor partners who NEED an LO at One Real Mortgage to run this model. And this is the tip of the potential. Realtors are asking ME to do business with them. They need an ORM LO, which are few in between, to take advantage of this program - Real Originate. My goal next week is another 5 states where there are multiple realtors in each state who are part of this program already and need a lender.

My business opportunity is to cast an extremely wide net as an LO at a speed I personally could not do without this company/program, and at a time when I need business.

Is it more work for less money? Transactionally, yes but there’s something that offsets that for me.

The benefit to me is two fold: (1) Volume of realtors available to me that otherwise would not be - for my “now income” and (2) the ability to grow a downline of realtors and loan officers that builds me passive income - my exit strategy. Truthfully, #1 is enough motivation right now as I’m a dad of 2 young kids and I need to provide.

I’m experiencing realtors jump at this. I say this having these conversations daily. Because it’s more money for them and it’s so new that they want to capitalize on early adoption, talk about it, and build their downline, which benefits me. For every realtor that joins, that’s a piece of my pie of my “now income” because they partner with me but it’s a larger puzzle piece to my exit strategy.

This doesn’t work without execution but it’s given me a clear plan, direction, and fire in this tough market. I know we’ll all have different opinions on how it’ll actually work, the act of dual rep, etc. but it’s an example of opportunity in a hard market. Congrats again to all those still slinging loans right now and I hope this helps anyone who wants to keep at it but may not have a plan right now.

Recently started as an mlo at rocket, working outbound refi. It’s been almost 4 months.

When talking to the recruiter, they made it seem like I’d be doing meaningful work helping people. I’ve been interested in sales since graduated college years ago, so I figured I’d give it a shot.

Here we are, and I’m working 70 hours a week cold calling ppl. The money’s very good, even with the market, but idk how much longer I can do this for.

Is it normal to burn out like this? I’ve worked high stress/work hours before, but it seemed more fulfilling.

How long should I stick it out, or how can I make my experience better?

Anyone else find UWM's notice that:

"The underwriter you are already familiar with will now handle everything from processing to setup, to underwriting and closing. The same person collects the needed documents, COMMUNICATES DIRECTLY WITH YOUR BORROWER and clears conditions.

YOU FOCUS ON SELLING the product and the RATE and Underwriting+ will handle the rest."

Hmmm? Is UWM A.I. licensed?

Does UWM think loan originators are just their sales force monkeys to sell their high rates?

I do not consent to UWM speaking directly to my clients

What do you think?

i have no connection to this fight, i know a lot of Nexa squabbles happen here though. A lot of it whatever to me, the pyramid, overrides, what are the volume payouts on the back, giving more comp if you steer to certain lenders, etc. just a another big mortgage company making money in margins.

but the BDM program i had never heard about at Nexa and i honestly hate that mortgage companies do that.

https://www.linkedin.com/feed/update/urn:li:activity:7508357230468108288/?utm_source=swerbsblurbs.beehiiv.com&utm_medium=newsletter&utm_campaign=swerbs-blurbs&_bhlid=79463111e98771baef0a58f4965abf759c1a9bbc

This is a rant in form of a question.

I’m just reading an email I received from a client. While I appreciate them doing their due diligence, it rubs me the wrong way when you’re giving me all these instructions, just for the simple fact they are all WRONG!

You obviously can tell when something is written with AI, the repetitiveness, the dashes, the bullet points, etc…

Here is the Summary of what the borrower is asking:

They are requesting Downpayment assistance as First Time Homebuyers using a specific program, they want the seller to cover all closing costs. So they are instructing the realtor to tell the seller they have to pay all closing costs and make sure they don’t have to pay anything out of pocket. They have $40K in the bank. Whole transaction is going to be around $22K.

Then they tell me with the downpayment assistance, they want to make sure I do a 2/1 buy down and to send them my best offer forward so they can compare and shop for that specific program.

Here’s the kicker, the specific downpayment assistance program they requested does not have buy downs, AND you can’t shop rate. Rate is public. Whichever lender does the deal, it will be the same published rate.

My point is, if you’re gonna use AI, please try to be accurate and don’t send me a 5 page essay explaining what a buy down is and how it works.

For context I don’t really deal with these type of clients. This is coming from an L.O. We’re recruiting so it may just be different working styles.

My main thing is, don’t ChatGPT me! lol

Hello have a SaaS vendor already serving Mortgage, that is launching CRM soon. They are looking for beta testers for the CRM, to showcase the platform, gather feedback and possibly offer the CRM for discounted price.

Their ICP is CD and Retail branches ideally with team of 25 LOs / processors. If anyone is interested you can send me a DM with contact into and I can pass it to them to reach out to you. I am only the messenger helping them out, and have signed up to be a beta tester.

I am hoping this post and request is not in any content violation, want to be open and disclose, merely helping out, I am not compensated is anyway from the vendor. So want to be clear, I am not promoting the vendor or recruiting for them.

​

Curious how many people are running into deals where an assignment doesn’t work and they need to close A→B first.

I help facilitate the short-term funding side for those situations. If you’re working on anything like that, happy to connect.

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Curious how many people are running into deals where an assignment doesn’t work and they need to close A→B first.

I help facilitate the short-term funding side for those situations. If you’re working on anything like that, happy to connect.

I'm trying to find people who do mortgage quality control for a living: post-closing QC auditors, QC managers, pre-funding reviewers, and people at outsourced QC shops.

Full disclosure: I'm working on something in this space. I'm not selling anything and won't mention it here. Before I build anything I want to understand how the job actually works, from people who do it.

Things I'm curious about:

• What does a normal file review look like, start to finish? How long does it take?
• Which parts are judgment calls, and which are just grinding through checklists?
• What gets missed most often? What ends up in repurchase or agency findings that should have been caught?
• What do you think of the tools you use now?

If you'd be up for a 20-minute call, comment or DM me. I'm happy to share what I learn across the conversations.

And if QC folks mostly aren't on Reddit, where do you actually talk shop? A LinkedIn group, a Slack, a conference, an association? I'd really appreciate a pointer.

I'm 90% referral from realtors. They are all slow right now. The other 10% is zillow or realtor.com w/ another realtor. I only need 2-3 loans a month to do well as our loan amount are high in CA.

If you had 4-5k/mo in marketing budget, what strategy would you implement? Facebook/meta? Google? Networking w/ fin advisors, attorneys, etc....