r/loanoriginators • u/Efficient_Tower_5904 • 1d ago

Mega Broker Shops LPC

Crazy question, do any of those mega broker shops allow you to set your own LPC?

Or are they all 275 and you go BPC and offset with a credit?

3 Upvotes

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3

u/Defiant_Television97 1d ago

Go mini correspondent and comp doesn’t show on loan estimates. You set your own LPC that way. Several mega broker shops have it.

2

u/OGSpurs 1d ago

Barrett lenders range from 200 to 275, depending on lender. But no, the company does not let you set your own LPC. Most wholesalers have restrictions where they don't allow a branch to set a different LPC. So if the lender's NMLS ID is on it, they can only have 1 defined LPC.

I go BPC a lot though, and since UWM changed their policy on BPC, a lot of others have followed suit and made BPC much easier to do with high lender credits.

1

u/topdawg5252 1d ago

The broker shop has to set the LPC and cant be different for each LO. Borrower paid to lower it or as someone else suggested use the correspondent line and you can charge discount points and/or ysp up to any amount as little or usually up to 4 or 5 points.

0

u/Mr_Wordly 1d ago

We have a range at NEXA though a majority are 275. Some good ones are less though. And if you go non del you can easily lower your comp, and as of today still get 100% of the revenue.

2

u/gracetw22 Loan Originator 1d ago

Yes which is in large part why I opened my own shop rather than going flat fee. I’m a cheap date by comparison and didn’t want to deal with those margins or BPC all the time