Mortgage Loan Officer

Insight Mortgage Corp

United States
Aug 4th, 2022
$ 70000 - 400000 / Year

We are looking for Licensed Loan Officers to come join our Insight Team. Insight Mortgage Corp. is licensed in NH, MA, ME, CT and FL.

We use up to date technology like Floify, Loansifter, etc.. we offer 401K, Commisson, Additional Bonus programs, Lucrative employee referral program and we work with over 20 Lenders for the BEST pricing.

We offer one of the highest and most straight forward compensation plans in the industry, ranging from 105 bps to 180 bps! We do this all while managing to keep our rates more competitive than local banks, credit unions, and correspondent lenders. Here’s some of our everyday practices and resources that help set us apart from the rest:

– A mobile app that allows you to track every step of your loans from application to funding

– Multiple Licensed Processors, Mortgage Coordinators and Processor Assistants to get you the CTC

– Coordinators doc out, run findings and facilitate signature chasing enabling you to move on to new loans

– Full-time marketer to assist with everything from personal LO advertising to custom digital campaigns

– Technology that auto-requests and auto-reminds customers incorporating a mobile app that allows them to take pictures of docs and upload them while alerting them of time/date-driven milestones

– Every loan type available including no-ratio and stated, FICO’s to 580, renovation loans, less-used FHA/VA construction loans and TBD approvals allowing you to issue commitments coinciding with pre-approvals

Let’s see how the comp plan looks based on a $300,000 loan amount average:
An average of the Loan Officers total closings from Jan 1st to June 30th is calculated and will determine the compensation for applications dated July 1st to Dec 31st. (See chart below)

An average of the Loan Officerstotal closings from July 1st to Dec 31st is calculated and will determine the compensation for applications dated Jan 1st to June 30th. (See chart below)

130 bps = 3 units or $900K average per month ($300K Loan Avg = $11,700/month – $140,400/year)

135 bps = 4 units or $1.2Mil average per month ($300K Loan Avg = $16,000/month – $194,400/year)

140 bps = 5 units or $1.5Mil average per month ($300K Loan Avg = $21,000/month – $252,200/year)

146 bps = 6 units or $1.8Mil average per month ($300K Loan Avg = $26,280/month – $315,360/year)

153 bps = 7 units or $2.1Mil average per month ($300K Loan Avg = $32,130/month – $385,560/year)

161 bps = 8 units or $2.4Mil average per month ($300K Loan Avg = $38,640/month – $463,680/year)

170 bps = 9 units or $2.7Mil average per month ($300K Loan Avg = $45,900/month – $550,800/year)

180 bps = 10 units or $3Mil average per month ($300K Loan Avg = $54,000/month – $648,000/year)

We’re all about transparency and believe in competitive compensation. We achieve this while offering the best rates and lender credit back to your customers. This applies to all loans including Conventional, FHA, VA, USDA, Jumbo, etc. This means thousands of dollars in lender credit can be available for your customers depending on the program they choose. We have NO padding, NO special rate sheets; just raw, wholesale pricing direct from 25+ lenders which allows you to compete against the best and win!

We are licensed in NH, MA, ME, CT and FL offering just about every program available and always adding more. If there’s a program we hear of that we can get, we get it! We have zero concerns for program overlays, as most of our lenders are direct with Fannie and Freddie.

You’ll have access to the most high-tech, easy, and convenient tools in the industry to make closing loans easy and with minimal effort.

For exclusive leads, you’ll earn 80 bps should you wish to receive them.

We provide you with loan coordinating support, as the processors deal directly with your clients from application to close (Unless you prefer otherwise). It’s our belief that a Mortgage Advisors job is to originate new loans and not be slowed down by processing-related duties.

As far as benefits, we offer 401K with a match up to 6%! We also have group health care options.

Take control of your business and feel like you’re a client to the lender rather than an employee. Say good bye to rebranding and changing your business cards forever…or at least until after your move to Insight!

We’re looking forward to speaking with you and making your transition to Insight Mortgage Corp. as smooth as possible. Call or message Michael Warenda (603) 759-9378for more information.

Job Description:

Responsible for developing loan applications by evaluating applicant information and documentation by performing the following duties.

  • Provides applicants with information regarding the loan application process.*
  • Counsels customers with respect to credit needs.*
  • Obtains complete loan application including all supporting documentation needed to process the loan.*
  • Receives and interprets mortgage loan applications from borrower as needed, via phone or borrower’s residence.*
  • Pre-qualifies potential loan applicants by analyzing financial background.*
  • Establishes rate with borrower verbally and in writing prior to settlement.*
  • Follows up on processing the loan by obtaining additional applicant information.*
  • Maintains communications between the lender and borrower.*
  • Explains loan disclosure statements, rates, and fees to loan applicants as needed.*
  • Understands and supports the corporation’s policies and procedures to provide proper and effective treatment to all of the corporation’s customers.*
  • Coordinates with the selling real estate agent and attorney/escrow officer regarding loan status via phone or home office.*
  • Communicates effectively with related parties via telephone.*
  • Performs follow–ups on all telephone inquiries as required.*
  • Resolves any customer problems in an expeditious and tactful manner.*
  • Reviews and reports complaints received from customers and recommends corrective action to management.*
  • Performs other related duties as assigned. *

Job Types: Full-time, Part-time

Pay: $70,000.00 – $400,000.00 per year

Benefits:

  • 401(k)
  • 401(k) matching
  • Employee discount
  • Flexible schedule
  • Referral program

Schedule:

  • Self-determined schedule

Supplemental Pay:

  • Commission pay

Experience:

  • Fair Housing regulations: 1 year (Preferred)
  • Loan origination: 1 year (Preferred)
  • Sales: 1 year (Preferred)

Work Location: Remote

If you require alternative methods of application or screening, you must approach Insight Mortgage Corp directly to request this, as we're not responsible for the employer's application process.

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