Dually Licensed Lisa Jones
Dually LicensedForum Replies Created
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I did extensive research on choosing the right mortgage company to work for as a mortgage loan originator. I think if you are a new loan officer, choose a mortgage company where there is a brick and mortar than a remote loan officer position. This way you can learn hands on from fellow veteran loan officers, processors, and the manager. I think for me, becoming a mortgage loan officer with a mortgage broker best suits my needs because you are not captive and you have access to many different wholesale mortgage lenders. You can get great training from wholesale account reps as a mortgage broker and wholesale lenders have great training programs.
Mortgage brokers and mortgage bankers both play key roles in the mortgage lending process, but they operate in different capacities:
Mortgage Broker:
A mortgage broker acts as an intermediary between borrowers and lenders. Brokers don’t originate loans themselves but work with multiple lenders to find the best mortgage product for their clients. They help borrowers navigate the mortgage market, comparing rates and terms from various lenders. Brokers typically earn a commission from the lender or borrower upon successful completion of a mortgage loan.
Mortgage Banker:
A mortgage banker is a direct lender. They originate, process, underwrite, and fund loans using their own capital or a line of credit. Unlike brokers, mortgage bankers have the authority to approve and fund loans directly. Mortgage bankers may offer a more streamlined process since they control the entire lending process in-house. They often service the loans they originate, meaning borrowers make payments directly to the mortgage banker.
To conclude my research, I have talked to many veteran loan officers and managers. While both mortgage brokers and mortgage bankers facilitate the home loan process, brokers act as intermediaries connecting borrowers with lenders, while bankers originate and fund loans directly. Each has its own advantages and considerations depending on the borrower’s needs and preferences.
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I am a licensed real estate broker in three states and a real estate agent is five states and am studying for my mortgage loan originator NMLS license. I have referrals for loan officer referral partners but do not make any referral fees. Can I become a loan officer for an FDIC bank without mortgage loan orignation license and be registered in 50 states without paying each state licensing fees? I have originated loan prior to the 2008 financial crisis but we did not need to have NMLS license during the era I originated loans. I am familiar in most aspects of originating loans from government-backed loans to conventional and nonprime loans.
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Bill would you mind explaining the difference between AXEN and NEXA Mortgage
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Thank you for the prompt response Bill. I am going to pick on your allegiant and knowledgeable expertise in the real estate industry if you can be nice and share your knowledge. First, many real estate companies are getting into the mortgage business. Compass Mortgage, Keller Williams, Fathom Realty and ibam sure dozens of other firms Are all taking a bath or are they profitable? How are they able to recruit with a potential conflict being a realtor and loan officer? Is Motto Mortgage the only lender with the franchise model? Are these realty owned subsidiary lenders mortgage brokers or mortgage lenders. Have you hear or know about Edge Mortgage, Barrett Financial, C2 Mortgage? Are these companies brokers or lenders? Respectfully thank you in advance
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Thank you for sharing your information. I heard of Motto Mortgage. Actually, Gustan asked me if I knew about Motto and how it worked. I know everyone has their own perks and not each company is perfect for each individual. I am a realtor but getting my NMLS LICENSE once I pass the exam. Thank you.
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Here’s another political humor about Michael Robinson Obama. This one, I found it cute. Whether it’s a Michael or Michelle, please don’t get offended by this. Just political humor and memes
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This is Fake News. Just amazing how technology can distort and photoshop people like it came from them. Funny.
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This report states the Colorado Supreme Court Justice Monica Marquez arrested for treason.
https://apnews.com/article/fact-check-colorado-supreme-court-justice-marines-arrested-000267638437
apnews.com
False report targets Colorado justice who voted to disqualify Trump from 2024 primary ballot
Following the court’s decision on Tuesday that Trump is ineligible for the White House under the U.S.
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Joe Biden is not a clone. Conspiracy theories about political figures being clones or impostors are not based on credible evidence and are typically unfounded. Joe Biden is a real person who has been involved in American politics for several decades. He served as Vice President under President Barack Obama from 2009 to 2017 and was elected as the 46th President of the United States in the 2020 election. It’s important to rely on reputable sources and factual information when discussing political figures and to be cautious of misinformation and conspiracy theories.