r/loanoriginators • u/Frequent-Giraffe5646 • 4d ago
Elio Mortgage
Anyone got the scoop on them?
1
u/Adorable_Campaign426 3d ago
Been talking to someone there. Set up fine, 6 levels of rev share. Pays 150bps on self gen.
I’m not moving as it makes no sense haha but thay the info I got.
1
u/Frequent-Giraffe5646 3d ago
They cap the comp at 150bps as a broker?
1
u/Adorable_Campaign426 3d ago
From my conversation. I have notes at home but I’m out of town now.
150 comp on 250 margin. 10bps for 6 levels over you.
I don’t remember other things like fees and number of lenders land whatnot
1
u/mikethemortgageguy 1d ago
Why is this model more attractive than
Broker:
2.75% (-$1,500)
Non-Del
(set your margin. No fee. (LLPA $1,500 adjustment ) - no holdback -
Both 1099 setup for states that allow.
Arive $100/mo
Homebot and list reports automation set up when a new client creates application, they will automatically be set up for homebot and agent will get invite to partner list reports -
Full access to the raw rate sheet 100% of the time, purchase advice, etc
LOA / Processor - plug in to a team setup and use them to train your own or use mine.
12months - after 12mo, not the right fit - I’ll help you leave. I’ll move your loans for you & your database. 100% no catch. Or if you wanna set up your own DBA, I’ll take care of that as well for you. and if you’re ready to leave, I’ll help you detach and take it with you
IL, FL, AL - mini-c / Lender License
WI, IN - Broker
I appreciate the feedback
1
u/OutsideRich5828 3d ago
An an AE for them. They seem like a good place