Loan Officer Career Opportunities

NEXA Mortgage has independent loan officer branch manager opportunities and loan officer opportunities under a producing branch. You now have the opportunity to run your own P and L business in the mortgage industry. You are your own boss and run your own mortgage company the way you seem fit. CEO Michael Kortas gives the entreprenuer loan officer their own keys to take it where they want to. The sky is the limit. CEO Mike has a hands off policy and never tells you what to do. CEO Kortas is there to help you and will never say NO if you have great ideas in expanding your own business. You can run your mortgage broker business as a dba of NEXA Mortgage. Becoming a NEXA mortgage branch is better than owning your own mortgage company. Contact me at 262-627-1965 or email me directly at gcho@gustancho.com. Please post any questions on this forum or private message me.

https://gustancho.com/career-opportunities/

gustancho.com

NEXA Career Opportunities » Mortgages » Realtor - MLO

Career Opportunities as mortgage loan originators, mortgage processors, account managers, loan processors, mortgage underwriters now available

Breaking NEWS from CEO MIKE KORTAS over the announcement of NEXA MORTGAGE 100. Effective immediately, all NEXA Mortgage loan originators who recruit one full time independent Mortgage Loan Originator and that loan officer does one loan a month in one or all three wholesale lending mini-correspondent investors (EPM, MLB, and UWM) the loan officer will make 100% of the revenues. Let’s dive into the details of NEXA Mortgage’s commission structure. If you’re a self-producing Mortgage Loan Originator (MLO) looking for a change in brokerages, NEXA has some exciting possibilities for you:

1. Base Commission:

   • The first layer of NEXA Mortgage’s compensation plan is the Base Commission. You start by selecting a margin applied to your lender-paid compensation deals.
   • While you have the flexibility to choose different margins, it’s recommended to opt for 275 basis points, which grants you 220 basis points.
   • With this competitive rate, your commissions can significantly increase, especially when closing larger loan amounts.

2. Bonus Commission:

   • NEXA rewards hard work and dedication with the Bonus Commission.
   • Once you hit $3 million in funded volume per month, you’ll receive a 100% commission on everything beyond that threshold.
   • This bonus structure motivates MLOs to exceed their targets, and the potential for increased earnings is substantial. So, the sky’s the limit when it comes to achieving higher commissions!

3. Partnership Compensation Plan:

   • Taking their commitment to growth and recognition a step further, NEXA introduces the Partnership Compensation Plan.
   • When you’ve introduced 10 Originators producing at NEXA, you become eligible for this plan.
   • Instead of waiting to hit $3 million, you get a 100% commission starting at $2 million in production.
   • This incentive encourages MLOs to contribute to the company’s success by bringing in top-performing Originators.

4. Revenue Share Program:

   • Interested in building a business within a business? NEXA Mortgage offers an enticing Revenue Share Program.
   • By introducing other Originators to NEXA, you can earn a portion of their commissions, creating a powerful source of passive income.
   • As you develop your downline and help others succeed, your Revenue Share can grow significantly.

5. Daily Payouts:

   • Gone are the days of waiting for weeks to receive your commissions.
   • NEXA Mortgage pays you daily, treating you like a realtor and ensuring you get your hard-earned money promptly1.

Remember, always do thorough research and consider all aspects before making any decisions. If you’re interested in joining NEXA, reach out to them directly to explore the opportunities further!

https://gustancho.com/career-opportunities/

• This discussion was modified 8 months, 2 weeks ago by  Gustan Cho.
• This discussion was modified 8 months, 2 weeks ago by  Gustan Cho.
• This discussion was modified 8 months, 2 weeks ago by  Gustan Cho.
• This discussion was modified 8 months, 2 weeks ago by  Gustan Cho.

NEXA Mortgage has revenue share which is residual income for loan officers and employees for NEXA Mortgage. Residual income is an override of every loan officer they recruit who does production. The residual income is through revenue share of loan officers monthly revenue and it goes down three levels. CEO Mike Kortas does a Zoom webinar live every Thursdays at 11 am Arizona time. It is a live Q and A for all loan officers who are interested in joining NEXA Mortgage. I have been with NEXA Mortgage going on two years come February 24th, 2024 and I can attest that CEO Mike Kortas is the real deal. We have a rock solid Chief Executive Officer and with that, we have a rock solid foundation. It is hands down better to take a few steps backwards to go forwards and make sure whatever you do, make sure you have a solid foundation. Anything with a weak foundation will not last. You can build a multi-million dollar home in a cracked foundation and it is not if it will crack but when it will collapse. I have been in the mortgage industry since 2012 and was a real estate investor and developer since 1998 and I have never met so many scumbags in any industry like the mortgage industry. Most CEOs of mortgage companies will tell you one thing and not honor their word in a matter of months. CEO Kortas has honored every single word he has said or promised. Never in my career have I ever met such a man of integrity, honor, and fairness like CEO Michael Kortas. With a strong foundation, you can rest assured you have the keys to your destiny in the mortgage industry.

https://gustancho.com/mlo-revenue-share-residual-income/

gustancho.com

MLO Revenue Share Residual Income For Loan Officers

Loan officers at Gustan Cho Associates will have the opportunity to participate in the MLO Revenue Share Residual Income, up to $3 million down.

Many mortgage loan originators belong to a team or group where they can veer off on their own with their own mortgage brokerage or a mortgage net branch of a larger national mortgage brokerage or mortgage lender. The mortgage net branch can operate as a DBA (Doing Business As), the mortgage group’s brand name. The business is run on a P&L model, and the branch manager is in charge of all the outgoing expenses. The goal is to have a positive P and L to generate profit. Can someone experienced with how to start a mortgage net branch please go over the list of expenses? Even a small office can run a mortgage branch in the red if not managed correctly.

With all these recent news about high inflation, low housing inventory, mortgage rates in the 8%, and loan officers quitting the mortgage industry by the thousands, is now a very bad time to become a mortgage loan officer? Is it true that the national number of loan officers dropped by over half due to the mortgage industry going under? Is it true over fifty percent of the mortgage companies went out of business and there are more mortgage brokers and mortgage bankers that are waiting to get out of business?

There are so many mortgage companies closing their doors and filing bankruptcy. Never in history have so many loan officers quit so fast due to skyrocketing mortgage rates. Besides the surging rates, housing inventory is low. Many homeowners who got mortgage rates at 2.5% two years ago are not budging on selling their homes. I heard in the beginning of the year 2023, there were 150,000 mortgage loan officers in the United States. A few weeks ago, the number of loan officers left in the United States was somewhere in the 70,000. I have researched this matter with hundreds of loan officers, mortgage company owners, processors, support and operation mortgage professionals, real estate agents, underwriters, wholesale mortgage account representatives, builders, and anyone directly or indirectly in the housing and mortgage industries. Please share your thoughts.

• This discussion was modified 1 week, 1 day ago by  Sapna Sharma.

Can someone please explain how the Revenue Share residual income program works for mortgage loan officers at NEXA Mortgage. I am getting conflicting answers. Thank you in advance.

We had rhe graet opportunity to have luck with Mat Grella, the President of NEXA Mortgage at Capital Grille in Schaumburg, Illinois on Tuesday. Great food, great discussions, great live entertainment by our three-legged canine colleague Alexander Carlucci, and just a great time. 👍 Thank you Mat.

WHY DO MORTGAGE LOAN OFFICERS KEEP ON CHANGING EMPLOYERS SO OFTEN? SOME MORTGAGE LOAN ORIGINATORS HAVE CHANGED JOBS 12 TIMES IN ONE YEAR.

If I work for another Mortgage Company besides Gustan Cho Associates at NEXA Mortgage can I do commercial loans at Lending Network LLC? What are the benefits of Lending Network and Gustan Cho Associates versus working just at Lending Network LLC?

This thread pertains to John Parker. John, can you please explain what AXEN Mortgage is about and how AXEN MORTGAGE works. Many people are confused about AXEN Mortgage and why NEXA MORTGAGE doesn’t talk about AXEN Mortgage more often.

If you are tired of saying no to your clients because of a lack of programs, getting ghosted by clients because of high retail rates, or getting paid less than 275bps, then we should talk.

NEXA/AXEN Mortgage has opportunities for self-sourcing LOs and branches…

Become the low-rate leader in your market with higher comp, 220+ lenders, and live Loanofficer support…

Check out our rates here https://loanofficersupport.com/r/John1792

OR and me a message, and let’s set up a time to talk about your situation.

Commercial lending is such a broad field. Most commercial lenders are specialists on certain types of commercial loans. For example, some loan officers only specialize in SBA loans. Other commercial loan officers only do hard money loans. Yet, other commercial loan officers only limit to factoring or accounts receivables. One of the main benefit http://www.lendingnetwork.org differs from the competition is that lending network is a one-stop-commercial lending shop.

lendingnetwork.org

Home - Lending Network, LLC

gcho@lendingnetwork.org dianne@lendingnetwork.org

Besides NEXA Mortgage, what other mortgage companies  offer revenue share and residual income and how does it work?

Once credit is cleared/ improved could I be approved in the state of Texas for Mortgage loan originator license? As far as the states that was mentioned, California, Illinois, & Arizona would I have to hold or establish a residency to qualify? Also I’m interested in the commercial loan officer opportunity. What is the process, and would it give me the experience and expertise needed to becoming a licensed mortgage originator ? Thank you for your time and I look forward to your reply!

Respectfully,
Vernise Green

For those who do not have a DIVVY CARD, I strongly suggest you request a DIVVY CARD through Marga. A DIVVY CARD is like a Corporate Debit CREDIT CARD. You can use it pre-tax for business-related expenses such as NMLS CE, NMLS LICENSING, CELL PHONE, OFFICE EXPENSES, MEALS on Recruitment and Realtor Partners, Fuel & Mileage, Marketing EXPENSES, Leads, Tools, Travel, Utilities for OFFICE, etc. You can start small and always increase when you see EXPENSES coming up. In our office, Carlucci, Dale, John Strange, Mike Gracz, Nelson Thompson (Independent), and all active independent loan officers sponsored by Team GCA should absolutely sign up for a DIVVY CARD IMMEDIATELY. Marga, please follow up on this urgent matter and keep a note to send out multiple reminders. I have this memo and updates posted on GCAFORUMS.COM.

Thank you.

gcaforums.com

Page Not Found - Great Content Authority (GCA) Forums

Page Not Found - Great Content Authority (GCA) Forums

What is a mortgage broker? What is the role of a mortgage broker? What is the difference between mortgage brokers and mortgage bankers? What is the difference between mortgage broker, mortgage banker, Full-Eagle Mortgage Banker, direct lender, correspondent lender, and mini-correspondent lender? How Do Mortgage Brokers Get Compensated? How do mortgage bankers get compensated? How do full-eagle bankers get compensated? How do direct lenders get compensated? How do correspondent and mini-correspondent lenders get compensated? What is yield spread premium? How do mortgage companies get compensated?

• This discussion was modified 4 months, 3 weeks ago by  Gustan Cho.

I want to expand my team of mortgage loan originators and expand. What is the best way to recruit loan officers? What type of questions do you ask loan officers? What type of documentation do you ask to make sure the loan officer is a producer or will be a producer? On the flipside, if you are a loan officer interviewing with a branch manager of a mortgage company, how should you present yourself? What type of questions would a loan officer recruit expect from the branch manager interviewing them?

Ever considered becoming your own boss by opening your own company. Turn key full service business, commercial, and residential funding business. We will train you about how to open your own commercial loan brokerage business after you go through our training program. Unlimited opportunity. Contact Danny Vesokie at Affiliated Financial Partners at 916-402-2506. Text Danny Vesokie for a Faster Response. Affiliated Financial Partners is a preferred commercial loan officer school of Lending Network and Gustan Cho Associates. Affiliated Financial Partners LLC-Wholly Owned Subsidiary of Danny Vesokie Institute of Finance, headquartered in Sacramento, California.

• This discussion was modified 5 months, 1 week ago by  Danny Vesokie | Affiliated Financial Partners.

Felix, please post WHY NEXA WITH CEO MIKE KORTAS every Thursday at 1 pm CDT.and put a super sticky. Amanda, Jimmy, and Farah should definitely attend today in 50 minutes.

Here is the link to WHY NEXA MORTGAGE ZOOM CALL EVERY THURSDAYS at 1 PM CEO MIKE KORTAS at 1 pm CDT

https://www.zoom.us/j/4802285442

If you are a producing real estate agent and want to become a dually licensed realtor and loan officer, please contact Gustan Cho at Gustan Cho Associates at 844-90-RATES. Why not make commissions both as a realtor and loan officer on the same transaction. Gustan Cho contact information is gcho@gustancho.com.

Here’s the link to a guide on career opportunities as a dually licensed realtor and loan officer at GCA MORTGAGE GROUP and Gustan Cho Associates https://gcaforums.com/dually-licensed-realtor-mlo-careers/

• This discussion was modified 10 months, 4 weeks ago by  Sapna Sharma.
• This discussion was modified 6 months, 2 weeks ago by  Gustan Cho.

gcaforums.com

Dually Licensed Realtor-MLO Careers

Dually licensed realtor-MLO careers enable realtors to earn commissions both as a realtor and mortgage loan officers if they have NMLS license.

I know the difference between mortgage broker and mortgage banker. However, I do not fully understand what a mini-correspondent mortgage lender is. I know NEXA Mortgage is a mortgage broker but the sister company of NEXA which is AXEN Mortgage is a mini-correspondent mortgage lender. From my understanding, if you are part of NEXA Mortgage, you can do both mortgage broker and mortgage banker through its correspondent mortgage division AXEN Mortgage. Thank you in advance.

How to find active builders and spec builders. One way is to go to realtor.com choose a large city go to filters, click home age no min, and less than 1 year. this should list the new construction homes. Get the addresses, the agent usually doesn’t want you speaking with their client. However call the agent anyway and let them know that you can help their builder to build more homes and sometimes they will introduce you. If not then do a google search for parcel search using the city, or county and state. Usually they have a gis map and you can use this to locate the owner and the address of the owner, where you can further search and get a cell phone. Realtor.com is a great source to see who is building where and at what price.

realtor.com

How can you become a commercial loan officer? Is there a great informative commercial loan officer school that doesn’t charge an arm and a leg.

John Parker, who are the top 10 branches at NEXA Mortgage so I can compare apples to apples. I think it’s time we start going full blast recruiting. Also. The largest size branches at NEXA by volume and loan officers. Thanks.

Becoming an independent mortgage broker and operating under a “doing business as” (DBA) name can offer you flexibility, control, and potentially higher earnings. Let’s break down the steps involved:

1. Get Licensed: First, you’ll need to obtain the necessary license. Becoming a mortgage broker typically involves completing 20 hours of pre-licensure education courses and passing the NMLS mortgage license exam. State-specific requirements may apply.

2. Education and License: Start by getting licensed as a loan officer. This process includes coursework, test preparation, and an exam. With the right guidance and resources, you can achieve licensure in as little as 3 to 4 weeks.

3. Choose Your Business Structure: Decide whether you want to operate as an independent mortgage broker or as a DBA of a larger mortgage lender. If you choose the latter, you’ll need to register your DBA name. The process is usually straightforward and involves filing paperwork and running an ad in a local paper. Filing fees vary by state.

4. Build Relationships: As an independent broker, you’ll have the freedom to work with multiple lenders. Building strong relationships with these lenders is crucial. Network, attend industry events, and collaborate with other professionals to expand your connections.

5. Market Your Services: Develop a marketing strategy to attract clients. Utilize online platforms, social media, and local advertising to promote your services. Highlight the benefits of working with an independent broker, such as access to a broader range of loan products and more competitive rates.

6. Set Up Your Business: Establish your business by creating a business plan, setting up an office (physical or remote), and organizing your finances. Consider hiring support staff if needed.

7. Commissions and Fees: As a mortgage broker, you can earn commissions and fees from both borrowers and lenders. Lender-paid commission (LPC) and borrower-paid commission (BPC) are two common models. LPC is paid by the lender, while BPC is paid by the borrower in the form of an origination fee. Having pricing flexibility allows you to be competitive and maintain credibility with referral partners and clients.

NEXA Mortgage, NMLS 1660690, is the largest mortgage broker in the United States with 2,500 licensed mortgage loan originators and a team of 5,000 support and operations personnel, third-party vendors, and upper level management executives.

Remember that each step requires careful consideration and planning. Whether you choose to operate independently or as a DBA, focus on providing excellent service to your clients and building a successful mortgage brokerage business. Good luck!

https://gustancho.com/starting-mortgage-net-branch/

NEXA Mortgage has a strong business platform in joint venturing new dba independent mortgage brokers and teams of loan officers where benefiting the independent mortgage brokerage owner and its mortgage loan officers and support staff. The independent mortgage broker owner keeps everything the same, especially the control of owning and operating its own independent mortgage brokerage company and using the independent mortgage broker’s trade name as a dba of NEXA Mortgage. Gustan Cho Associates is a dba of NEXA Mortgage (NMLS 2315275) licensed in 48 states including Washington, DC, Puerto Rico, and the U.S. Virgin Islands (Massachusetts and New York is pending).

Retail mortgage loan originators, have you ever think about becoming a remote mortgage loan originator with the key to success? Have you ever dream of having the opportunity to own and manager your own net branch with all the amenities, bells and whistles of a large mortgage company but yet without the expenses that come along with it? Gustan Cho Associates is a dba of NEXA Mortgage and can help you start the journey for you to becoming a successful independent mortgage loan originator with the option of owning, and operating your own mortgage branch with the potential of expanding your business platform to most of the 50 states. Gustan Cho Associates will assist with the tools you need to become a top independent branch manager of your own mortgage P and L operations. You determine whether you want to own and operate a one man branch or a 200 loan officer mortgage net branch operation. You are given and entrusted with the key to success without no quota, pressure, or meddling. Remote mortgage loan officer career opportunities at Gustan Cho Associates, a dba of NEXA Mortgage, is right at your fingertips. A remote mortgage loan officer has a wide range of responsibilities. Here are some key tasks they typically perform:

1. Interviewing Clients: They conduct initial pre-qualification interviews and assist clients with the completion of loan applications1.
2. Loan Processing: They work closely with the underwriting department to determine conditions for loan approval1. They are responsible for the origination of first mortgages2.
3. Assessing Applications: They screen and assess new mortgage applications for loan eligibility.
4. Customer Service: They provide exceptional customer service throughout the loan process3.
5. Loan Products and Services: They maintain a thorough knowledge of mortgage loan programs and company products3. They engage with customers to recommend loan products and services3.
6. Business Development: They develop close business contacts with a diverse group of consumers4. They also work with realtors, builders, and other intermediaries who can refer mortgage applicants5.
7. Flexible Working Hours: As a remote worker, they often have the flexibility to choose their own hours35.

Please note that the exact responsibilities may vary depending on the company and the specific role. It’s always a good idea to check the job description provided by the employer for specific details.

https://www.gcamortgage.com/mortgage-loan-officer-career-opportunities/

• This discussion was modified 8 months, 2 weeks ago by  Gustan Cho. Reason: Wrong url

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If you want to get paid 1099 as a loan officer you need to surrender getting licensed in the following states.

1. Nevada

2. Hawaii

3. Illinois

4. Mississippi

5. NEBRASKA

6. New Jersey

7. North Carolina

8. South Carolina DFI: SC DCA NO W2

9. Georgia

10. Vermont

11. MA

More and more states are allowing loan officers become 1099 wage earners. We will update this list as states update allowing 1099 wage earner for loan officers.

• This discussion was modified 9 months ago by  Gustan Cho.

I appreciate the wealth of information on the Great Content Authority FORUM for the resources available in furthering my career as a branch manager and NMLS licensed loan officer. I could not believe what I have heard today by a fellow mortgage loan originator, a member of this forum, who owns her own mortgage brokerage company. My friend who owns her own mortgage broker company and is licensed in six states always had countless leads from states she was not licensed but could not monetize on those leads and realtor referral because of her mortgage brokerage only being licensed in three states. One of the options my friend had was give up her own mortgage broker shop and close it and join a larger mortgage company with NMLS licenses in most of the 50 states. However, her mortgage broker shop is her baby and she put a lot of sweat and equity in creating and launching her mortgage shop. The great news that was revealed to my friend which can apply to me is that a licensed mortgage loan officer can be licensed with multiple mortgage companies at the same time. Therefore, you can have and own your own mortgage shop licensed with a few states and simultaneously be sponsored with another mortgage company and be licensed in the states your own mortgage broker shop is not licensed. By doing so, you can be licensed in all or most of the 50 states and be in compliance and not worry about crossing the grey area. My friend asked me to reach out to @Bruce , Esq., MBA, LL.M. for more information. From my past experience, if a deal sounds too good to be true, it normally is. I would love to hear a lot more about this. I spoke to Danny Vesokie, President and Founder of Affiliated Business Partners, a commercial loan training school, and Danny did say to reach out to @Bruce . for more detail information because Bruce sponsored by three mortgage companies at the same time

https://www.youtube.com/watch?v=0TKHRlvHNWc

• This discussion was modified 9 months ago by  Gustan Cho.
• This discussion was modified 3 months, 3 weeks ago by  Sapna Sharma.