Loan Officer Career Opportunities

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, 2 weeks ago by  Gustan Cho.
• This discussion was modified 4 months, 1 week 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…

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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