Loan Officer Career Opportunities

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 2 years ago by  Sapna Sharma.
• This discussion was modified 1 year, 8 months 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 1 year, 10 months 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 1 year, 10 months ago by  Gustan Cho.

I appreciate the wealth of information on the Great Community 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 1 year, 10 months ago by  Gustan Cho.
• This discussion was modified 1 year, 5 months ago by  Sapna Sharma.
• This discussion was modified 1 month ago by  Sapna Sharma.

Thousands of mortgage loan officers left the mortgage industry for good in 2023. Tens of thousands of loan officers have not renewed their mortgage loan origination licenses. The mortgage loan origination career have proven devastating to tens of thousands of loan officers. Just two years ago the average mortgage loan originator made hundreds of thousands of dollars a year and their career was very promising. Many mortgage loan originators were so successful they formed teams and ventured to a P and L mortgage Branch model with a larger mortgage lender or broker. Other mortgage loan originators opened their own mortgage broker companies. Here’s a credible recent article about how many loan officers are leaving the Mortgage Industry

The Mortgage Market Is So Bad Lenders Want Ex-Employees …

Wall Street Journal

https://www.wsj.com › finance › banking › the-mortga…

wsj.com

The Wall Street Journal - Breaking News, Business, Financial & Economic News, World News and Video

Breaking news and analysis from the U.S. and around the world at WSJ.com. Politics, Economics, Markets, Life & Arts, and in-depth reporting.

Does anyone know anything about C2 FINANCIAL and why so many loan officers are leaving their retail mortgage company and going to C2 FINANCIAL?

CEO Mike Kortas is hands down brilliant. Amazing Chief Executive Officer who is a pioneer of the mortgage industry by creating and launching NEXA Mortgage LLC Revenue Share program. I am definitely looking forward to going full blast with the REVENUE SHARE program this year.

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.

Gustan Cho Associates is a mortgage company based in Oakbrook Terrace, Illinois, founded by Gustan Cho NMLS 873293. Gustan Cho Associates NMLS 2315275 is a dba of NEXA Mortgage, LLC, the nation’s largest mortgage broker NMLS 1660690, headquartered in Chandler, Arizona and headed by Chief Executive Officer Michael Kortas aka as CEO Mike and CEO Kortas. Over 80% of the borrowers at Gustan Cho Associates are borrowers who could not qualify at other mortgage companies due to a last minute loan denial due to lender overlays, stress during the mortgage process, or because the lender did not have the mortgage loan program or was not licensed in the state the borrower needed a mortgage loan. Gustan Cho Associates has a national reputation for being able to do mortgage loans other lenders cannot do. Gustan Cho Associates and its subsidiary companies specialize in providing a variety of mortgage options for home buyers and real estate investors, including conventional loans, FHA loans, VA loans, USDA loans, non-QM loans, alternative lending options, commercial loans, hard money loans, bridge loans, SBA loans, business loans, all in one construction loans, overseas land development loans, and any other loans that is based and collateralized with real estate. The company aims to offer personalized service to clients and help them navigate the mortgage process efficiently. Please note that as of the last update, Gustan Cho Associates is thriving and growing during the toughest real estate market in the history of the United States. Gustan Cho Associates is licensed in 48 states including Washington, DC, Puerto Rico, and the United States Virgin Islands (New York and Massachusetts are pending states and should be getting licensed later 2024 or early 2025. The information about Gustan Cho Associates has been verified and is accurate, but there may have been changes since the publication of this post.

If you are a loan officer, how do you start your own mortgage net branch and operate under a P and L. What type of requirements is necessary to have your own business as a P and L mortgage net branch? @Bill Burg

I was asked to come to GCA Forums to get the right answer to whether it is better to open your own mortgage broker company or try to get hooked up with a mortgage lender and open your own P and L net mortgage branch? What are the pros and cons of owning your own mortgage net branch versus having your own mortgage brokerage company? What are the two start up costs of having your own mortgage broker company versus a P and L mortgage net branch of a national mortgage lender. @Bill Burg

How can I open my own mortgage company? Can I buy an existing mortgage company or how do I go about starting my own mortgage company and hire mortgage loan officers to work under me? How much money does it cost? What type of licensing do I need to get.

I have been with NEXA Mortgage LLC going on 2 years as of February 24th. NEXA MORTGAGE is hands down the best mortgage company I have worked for in the mortgage industry. No other company comes close. NEXA MORTGAGE LLC has the states, lowest rates, and the products. No other mortgage company comes close. Tge reason why NEXA Mortgage is the best of the best is because of its founder and CEO, CEO Mike Kortas. Since the day I started working with NEXA, CEO Mike Kortas has never told me what to do, how to do things, or flex his muscles to show he is the boss. A man who is humble, honest, transparent, and is always supportive and backe you up on anything you want to do to further your career. A true leader who is loved and respected by all and gives you the key to succeed. A man who if you are loyal to him with give you ten fold back. CEO Mike is available seven days a week and have never not returned a call or text when you try to get a hold of him. We are all proud of CEO Mike Kortas for him being him. A true legend and Godsend.

https://www.facebook.com/share/v/2fqq6JHamHXgvh8a/?mibextid=21zICX

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From Mike Kortas, CEO of NEXA Mortgage: "Staying closely connected with our Loan Officers is key to our success. That's why I'm personally ensuring we... | By Mike Kortas | Facebook

From Mike Kortas, CEO of NEXA Mortgage: "Staying closely connected with our Loan Officers is key to our success. That's why I'm personally ensuring we...

The mortgage industry is hurting due to the high surging mortgage rates, low housing inventory, skyrocketing home prices, and tough competition among mortgage lenders. This thread is geared towards experienced veteran mortgage loan officers and managers. Which mortgage company is best to launch your career as a mortgage loan officer? Mortgage banker, mortgage broker, FDIC bank, credit union, buying a mortgage franchise or independent loan officer. Thank you in advance. I just ran into this informative blog from GCA Mortgage Group and want to thank GCA Mortgage Group sharing this informative blog on Choosing The Right Mortgage Company To Work as a loan officer.

https://gustancho.com/choosing-the-right-mortgage-company/

gustancho.com

Choosing The Right Mortgage Company For Loan Officers

Choosing The Right Mortgage Company For Loan Officers is so very important. There are now hiring experienced remote loan officers nationwide.

Many loan officers are often curious about working for an FDIC Bank as a loan officer versus a state licensed mortgage company

How is working at Edge home loans? I like to compare other mortgage companies while I am doing my due diligency on NEXA Mortgage Mortgage and see which mortgage company is best for me. I want to avoid going to one mortgage lender to work as a loan originator and quitting because I did not like a certain aspect or overlays on the individual mortgage lender. I am learning a lot about NEXA Mortgage and AXEN Mortgage and like to see how the other competitors fare. Thank you in advance.

We are going to launch John Parker’s websites and show the progress in this section. John, think about the layout, template, functionality of the following websites:

• http://www.bestvamortgageloans.com
• http://www.vastreamlinerefinancelenders.com
• http://www.fhastreamlinerefinancelenders.com
• http://www.realtormlocareers.com
• http://www.nexamortgagecareers.com