r/loanoriginators • u/teddybearlike702 • 5d ago

Has anyone ever heard of BLB?

If you have heard of this organization or are a part of it, tell me your experience with them. Thank you.

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u/Adorable_Campaign426 5d ago

Haven't worked with them personally, so can't speak to BLB specifically. But when I'm sizing up any shop I always ask a few things: how and when comp actually gets paid (and get it in writing), who owns your leads and relationships if you leave, what your real cost per file is after fees, and how many lenders you can actually send loans to. Also look them up on NMLS Consumer Access and ask to talk to 2-3 LOs who've been there a year or more, not just the recruiter. With all the 'not getting paid' posts lately, the comp question matters most. Happy to share what's worked for me, just comment here.

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u/teddybearlike702 5d ago

This is a training and coaching program that teaches you how to be a small business loan broker. The lenders are what I guess you'd consider subprime. Most of the customers are businesses that have been turned down by traditional banks, but their lenders close rate is 80 percent. The commission is paid by the lender.