Mortgage Loan Officer Gustan Cho
Mortgage Loan OfficerForum Replies Created
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Thank you Kimberly. On another note, there is no rush on the answer we are looking for about contract processing company needing to be licensed in a state if we are doing a loan via correspondent lending.
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Christian Sorenson @Christian Sorensen handles most of our government loans at Equity Prime Mortgage and he did request a lot of CPA letters from our borrowers. I can ask Christian to fact check on how it works.
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You do not have to be an actual certified public accountant. You need to be a registered or licensed tax preparer with a state and you are able to have them do it. You can ask Jordan Threatt who is one of our preferred wholesale lenders @JThreatt and he will tell you what his experience is. @Kim Kim Lambert is an experienced veteran contract processor and @Angie_Torres is our ops director at GCA and they can give you their opinions on this matter. @Ali Aldiva, Inc. is our preferred business advisor for our team at GCA Mortgage Group.
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Self-employed borrowers are required by mortgage lenders to get a CPA letter. Many self-employed borrowers do their income taxes themselves and do not have a CPA. No need to be alarmed. The team at GCA Mortgage Group often refer self-employed borrowers who do not have an accountant or CPA to our preferred business development partner Aldiva, Inc. Ali the president of Aldiva, Inc. does CPA letters as well as income taxes, setting up new corporations and limited liability companies, credit repair, and business credit consulting. Ali will
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James
Arts and Crafts FORUM is in the GENERAL FORUM subforum
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I think it makes a lot of sense
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Contact Marine Credit Union. Troy Fredrick a senior personal banker and hands down goes above and beyond to help you. Troy Fredrick can help get your credit rebuilder programs.
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Megan, I have many friends and associates who work at other mortgage companies and often come to me for information on loan programs or career tips. One of the questions I am getting the past several weeks is wil Motto Mortgage require franchisee owners originate loans in all the states Motto Mortgage is licensed in or are they tied to a certain territory. From my understanding, Motto Mortgage charges a franchise fee of $35,000. Then the franchise fee is $5,000 per month after six months. The first six months is a graduated fee. Other FAQ questions on my inbox is the following:
1. Out of the maximum total broker yield spread premium of 2.75% per file or a YSP borrower paid compensation, what percentage does Motto Mortgage Corporate take, what percentage does the branch get, and what compensensation plan is recommended for loan officers.
2. Is a brick a mortar required or is the loan officer franchiser owner rent a space with an existing REMax officer.
3. Does the franchise owner Motto Mortgage branch manager required to get licensed as a real estate agent for ReMax?
4. Does ReMax real estate agents refer leads to the franchised Motto Branch and how much does that cost.
5. Do you need to have experience in the mortgage business as a loan officer or branch manager to buy a Motto Mortgage branch.
6. Is there a minimum past production number for Motto Mortgage Branch buyers or can non–producers buy a Motto Mortgage Branch.
7. If things do not work out, does the franchise buyer get a refund of the franchise fee?
8. If the Motto Mortgage franchise owner want to originate in all 50 states, can the Motto Mortgage franchise owner be able to as long as the loan officer is licensed in the respective stats?
7. If the Motto Mortgage Branch franchise owner wants to hire a lot of loan officers and processors for his or her mortgage branch, is the franchise owner allowed to.
8. Can a franchise owner have multiple regional offices? How does that work.
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