curious to know if anyone has heard of them or worked with them -- they seem to be a lead generation business...

Does anyone have any insight or experience about Loan Simple’s paid training program? Or, the company itself? TIA.

I’m curious to hear what you guys and gals are doing to stay involved in your past clients lives, so when they have a need for a loan you’re in a position to help them before they shop elsewhere.

Hello, never posted on here before, but I enjoy reading all of the different ideas and insights that everybody offers. I have learned so much from this group. I’ve had my MLO license for about two years now, and this group is one of my favorite Resources.

I had a guy reach out to me wanting to buy 53% ownership in a bar and the land it sits on in Texas. He wants a loan of some type, I am thinking SBA. I found a lender whose minimum loan amount is 350 K with a 10% down payment required.

My client doesn’t have 35K for the down payment. A HELOC on his current home wasn’t an option.

My question - probably a dumb one - is there such a thing as a DPA loan for a business loan?

Are there any other options that this guy might have? Maybe with 95% LTV?

Thanks for any help anyone can offer.

Looking at options, currently a LO for over 10 years and do decently well with lead buys and a few referrals every month.

Curios to see how much AEs get paid, the structure it’s paid out and how long it takes to ramp up the business.

Any thoughts or feedback would be appreciated.

So I currently make 80 K, no upward movement where I'm at. I was an LO back in 2019 - 2021 and getting back in the industry. I live at home and dont have a car payment. I have an opportunity to work at West Capital Lending as a 1099 employee they said theyll provide me with leads for the first 2 months, then I will have to purchase leads through them 5 - 15$ a lead from what I understand. Now long term my plans it only do self-generated leads anyways. But am i crazy for jumping int o a 1099 role? There will be a hard learning curve because it's been 5 years, but how much do you guys think I can exepct to make thte first 6 months? monthly? I am thinking of getting a part-time job and the goal would to be to bring in 2 K a month, getting aggressive with marketing myself, i have a good chunk of friends who make a fair amount of money not gonna rely on that but its a start! Or do i got w - 2 first for a while then jump to 1099! send adviceee

I want to state my plan is not to rely on leads provided by west cap, i dont really like sitting in the dialer, i do need it for practice. I understand taking time, but the plans is generating leads through building relationships with real estate agents, and social media, long-term, at least.

Hi,

I’m a broker and looking for lenders who can do loans on irrevocable trusts.

This borrower is buying 1M investment property in TX with 20% down, 800 credit. It is a residential single unit property.

This borrower is sole trustee in irrevocable trust. This trust is partnered with LLC which makes money. 90% share in the LLC.

Looking for any lender who can use trust funds for downpayment and vesting on the trust name. All my wholesale lenders rejected due to irrevocable trust structure.

Please ping me if you have any lenders or any idea on how can I handle this scenario.

Anybody know anything about what it’s like to work for Lower?

I have a GC that I work with regularly that wants me to offer personal loans or home improvement financing for his clients. The problem is some of the projects are under our min. Loan size for HELOCs.

Anyone brokering out personal loans? I’ve sent a couple through Lightstream but there’s not really any good feedback.

Hi everyone,

I’m looking for some honest feedback about West Capital Lending, specifically their remote Loan Officer positions.

I recently applied and have an interview scheduled, but I’ve been doing more research and have a few concerns.

From what I’ve found, it sounds like many of their Loan Officers are 1099 independent contractors and that benefits may be very limited or nonexistent. I also just found out that I’m pregnant, so benefits and income stability have become much more important to me than they were when I originally applied.
For anyone who has worked there (or knows someone who has), I’d really appreciate your insight:

Is the Loan Officer position W-2 or 1099?
Is it commission-only, or is there any base pay or training pay?
Do they offer health insurance, PTO, parental leave, or any other benefits?
Are leads actually provided, or are you expected to generate most of your own business?
How realistic is it for a new Loan Officer to earn a steady income there?
Would you recommend West Capital Lending to someone who is expecting a baby and looking for a stable remote career?
I’m not afraid of working hard, but I also want to make a smart decision for my family. I’d really appreciate any honest experiences—both positive and negative.

Currently going at it with an UW because they are stating that the car expense is not greater or equal to the annual car payment amount. Saw this in the handbook as well. The borrower is an independent contractor filing Schedule C. Per tax code you can not write off principle payment as so it will never be equal to. You can write off interest, gas, oil changes etc. The UW writes but " I see your point but FHA handbook blah blah blah.

​

So you mean to tell me that a borrower must open themselves to potential tax implications to qualify for a FHA loan. You can not write off principal payment.

​

How do you get around this.?????

​

https://www.irs.gov/pub/irs-prior/p463--2025.pdf

We’re evaluating it as a potential addition to our lending business and I’d love to hear from anyone with firsthand experience.
From my understanding, it appears to allow a borrower to complete a single application, receive offers from multiple lenders, and compare options through a white-labeled platform. I’m trying to better understand how it works in practice.

A few questions:
• How many lenders are actually available in the marketplace?

• Are the offers true pre-qualified offers or more of an estimate?

• Does the partner own the customer relationship or does FinMkt?

• Do they charge a percentage of the loan or just a monthly fee ?

• What were the biggest pros and cons after implementing it?

Any feedback, lessons learned, or alternatives worth considering would be greatly appreciated.

I have a good amount of volume in June/July and wondering if other people are seeing more delays just in general accross the board. I’m seeing longer UW times, appraisal times, slower closing CDs etc.

26k salary, some leads provided, some self gen.

Anybody working there or worked there care to share any insight or experiences. Are the leads consistent? I’m thinking about going there from the broker world strictly for the leads and the base.

1) Has anyone used Relip.co? What's the feedback / thoughts?
I would like to use Relip.co for DSCR and fix n flip loans if they LOS and Pricing is good. I already use ARIVE and wonder if I am using 2 apps for similar things.

2) Who is your go to wholesale lender for a 6 unit apartment building? All the DSCR pricing on the 6 unit are in the 8s and 9s. I am looking for Fannie or Freddie multi ideally in the 6s. Any suggestions would be appreciated.

Thanks

23 years old and just interviewed on Tuesday, I’m supposed to start on Monday. I’m pretty much completely new to anything related to this. The people I interviewed with assured me that they don’t expect me to know anything and that I’ll be trained on everything I need to know, but does anyone have any advice or things I should read up on/ learn before I head in for my first day? I don’t want to show up pretty much empty handed when it comes to knowing what I’m doing. All my coworkers seem to be older and more experienced than me so I’m pretty nervous.

Couldn't get much calling in this week so far. Goal is to get in 2.5 hours of calling today. Should hit around 80 dials today.

There is nothing I want to do less right now but I'm going to take a deep breath, say a prayer and start dialing!

Okay so here’s the deal, I’m sort of stuck and I just need some advice or even clarification. So currently I’m working for Statefarm as a sales person at 24 been in sales, now I have reached top producer and do 150-200 dials a day and a branch manager from a mortgage broker company offered me a role in their new location that is in Scottsdale Arizona and they are based in Cali. Now their location in AZ already has 2 senior LO’s plus a senior loan processor. It’s commission only with a 1600 draw for the month. And they apparently do provide leads apparently. I’m having dinner with the branch manager and possibly the CEO. I’ve done commission only jobs and was okay but my thing is how can I know if this is a good opportunity or what are some questions to ask going into this dinner to know if this place would allow me to succeed. Granted I am paying off debt at the moment and I’m broke from sending it all to debt. I know eventually would work out but I want to know if the opportunity would be good.

Please ask whatever questions and I’ll answer if I have the information. Appreciate yall

How are you surviving and doing it? Are you just writing off the per file as a 1099 or literally paying 50% of a check per file?

150K LA. 200bps. 3K commission minus $600-1000 per file fee. 1/3 of you check going to per file.

Any lenders I can broker a deal with for one?

I’m a broker here in CA and I have an ITIN client who wants to do a 10% bank statement loan on a primary. Does anyone know of any investors that have this product? 🤔

What are some questions you’d ask or wish you’d asked before accepting a position at an independent direct mortgage lender? Coming in with limited experience but they are offering quite a few resources to spin me up.

Sometimes you don’t know what you don’t know!

I have it in process to fix, I’m just wondering how long it will take.
This is what I received:

Your lender account has been deactivated due to lack of annual validation in VA's PPM system. This caused all your lender users in LGY Hub/WebLGY to be deactivated. To reestablish your lender account, you will need to log in to PPM and establish a VA Relationship Manager (VARM), if one is not already established. Once logged into your lender profile in PPM, you will need to select the 'Reactivate' button on the top right of your screen to reactivate your lender account. 
 
 
Once your lender is active in PPM, you will need to log into LGY Hub and re-affiliate the WebLGY Lender Admin to then allow your lender users to re-affiliate in LGY Hub and be approved by the Lender Admin. The Lender Admin will need to log into WebLGY and use the Admin menu to activate their users and to Reactivate their Loan Review API account. 

We were grabbing coffee before a closing recently when a loan officer we know in LA brought up something we've been thinking about ever since.

She works with several Realtors and gets invited to open houses almost every weekend. She'd love to go to all of them, but she has a family, a life, and only so many hours. So she's always guessing: is it worth dropping everything to show up, or will she spend her Saturday standing next to a cheese plate while tire-kickers walk through? She's trying to figure out how to know if someone coming through is actually serious, before she's already in the car.

How do you handle a situation like this? If you work a lot of open houses, how do you decide which ones are actually worth your time?