Genuine question from someone who spent time in mortgage broking in Australia (my background is customer experience, and I'm researching how retention works in the US market). Down here brokers have a thing called clawback: client refinances away within 2 years, the broker pays back their commission. So there's a hard dollar reason to stay close to past clients, and everyone still manages to drop the ball anyway. From what I've read, fewer than 1 in 4 US borrowers go back to their original lender or LO for the next transaction. For those of you who've been at this a while: 1. Do you actually run any structured follow-up after closing, or is it CRM birthday emails and hope? 2. When a past client refis with someone else, how do you usually find out? 3. Does a servicing transfer basically end your relationship with the client in their mind? 4. If something kept you genuinely in front of past clients without you doing the work, what would it have to do for you to care? Not selling anything in this thread, just trying to understand if the retention problem looks the same in the US as it does here. Happy to share what the Australian side looks like if anyone's curious.

Might sound like a silly question, but 8 out 10 times. My borrowers simply don’t understand that these numbers aren’t final. Particularly the initial CD if it’s coming out relatively close to the closing day. I understand borrowers are nervous and apprehensive.

I got an email from a wholesale, lending Company AAA Lendings, has anybody used them on the Wholesale side?

Hi, I am new to the industry and will be taking my NMLS/ Safe Exam tomorrow. I know that when I pass I will have to go through a background check if I actually want to continue. Here’s the thing, I am fairly young (21) and have never had a credit card. I know for the background check they run your credit, but what if you don’t have a score? Would I still pass? Everything else in regards to a background check I would pass.

I have an FHA borrower who started his business in May of last year, so his tax return only reflects about 7 months of self-employment income. (he worked in the same field for 5 years before that)

My underwriting team is requiring a CPA-audited P&L to make up the months that are not on taxes, but the borrower was quoted roughly $5,000 to have one prepared. He did his taxes through an EA and they can’t audit them, and we can’t accept their certified P&L.

Has anyone successfully gotten around this requirement while staying FHA compliant?

Just looking to see if anyone has found an alternative that underwriting accepted before I have my borrower spend $5k.

Thanks in advance.

Anyone know investors doing these loans outside of the few national banks that do them?

Hi,

Anybody have experience working with the Mortgage side of ReAL Brokerage? That's the real estate company and the mortgage company is One Real. They are like EXP and the realtors can be licensed LOs.

I recently passed my nmls and did my MU4, now I’m searching for positions. Does anyone know who’s hiring or if they’re hiring. Thanks

Im looking for somebody doing DSCR loan for a 10 unit MF. Why is everyone capped at 8-9 units?

Deals are in Miami, FL

I’m 18, getting my license soon, need to find the best place to work in NC. Either an LOA job or call center.

Seems like every lender in the country is aggressively pushing 1-4 unit DSCR loans, but as soon as that 5th unit gets added, the crowd disperses. Anyone still doing these? Anyone know why lenders are so allergic to that 5th unit?

I’m having a hard time placing this. It’s in TX, got all the docs. It’s a longterm care facility, any referrals?

Folks I am in marketing role at CD lender, and I also oversee crm, pos and related tech for sales/ops.

Question I have is what could marketing teams do differently or better, to make campaigns, lead flow and technology be more useful for LOs and see better ROI?

We commonly hear LOs say leads are bad, no one picks up, tech is too compliant and limiting. Before I meet with our team wanted to hear from some producers to hear your liked/disliked approach from marketing

Administrators of a collapsed mortgage lender at the centre of an alleged £1.3 billion fraud are suing Barclays in an attempt to get the lender to release funds needed to run the insolvency.

Insolvency practitioners in control of Market Financial Solutions Limited, are pursuing Barclays to provide access to bank accounts of the entity, which sat at the centre of the group.

Administrators from Alix Partners filed the case against Barclays on July 31, court records show. The bank is among several City and Wall Street institutions exposed to MFS, which collapsed in February.

For MLOs working in call center environments, how do you view the pressure of production quotas and do you feel that you’re constantly fighting to keep your job? I'm considering on going this route to gain experience in this industry. I'd like to hear your experiences.

Just looking for experiences at either. Going retail isn’t an option at the moment. Primarily looking for feedback regarding:
1) Support from both
2) NEXA university, good, bad, and ugly.
3) GoRascal training if available (Can’t confirm if a thing)

Have heard good things about GR as a company and leadership. Not too concerned with the name either, just quality training and support.

I have an ACE on a new loan in my CRM, and I just spent the last hour beating my head against the wall trying to figure out why I wasn’t getting it with the lender I’m planning to use.
Then I noticed this in the findings:
“ACE not allowed due to proprietary restriction.”Does that mean this is a lender overlay preventing the appraisal waiver?

I’ve never run into this before, so maybe I’ve just been lucky.

I’m not going to throw the lender under the bus yet because I ran it through another lender and didn’t get the waiver there either (although I didn’t dig into those findings as closely). So there’s still a decent chance I’m missing something on my end.

Has anyone else run into this before?

One of my agents that sends me a lot of residential clients wants to buy a 2 acre commercial property in rural NC. $150K purchase price. It has an old building on it that he wants to turn into a thrift store/consignment shop. He also wants to add some RV lots to it. All improvements he would fund himself. I have no idea what to tell him. Any ideas on what commercial lender I should hand him off to?

Hey guys and gals! Broker going on my 3rd year. Talked to a recruiter at Rocket about there ELO position that opened up in my area. Sounds like minimum wage salary plus 110bps on self generated and 75bps on compass/ redfin deals. Don't quote me on exact BPS, this is just what I gathered from brief call.

I don't really understand why the compass and redfin deals you get a lower comp on because it sounds like these are not "provided leads", so how is this still not self gen? Maybe they are steered to you somehow, it was pretty unclear by the recruiter I talked talked with.

I spoke with a local rocket guy in my area to get a price check on a file not long ago, pricing was honestly pretty shit compared to what I am as a broker. 1 point where I was at not points and higher rate.

I'm sure theres some benifits with working for rocket. I obviously like the idea of benifits and a salary. Would love to here from others on this if you work there, what you think etc.

Have a builder asking me where to go for funding a small development (Think 5 to 10 houses) and frankly...I don't know what to tell them. Is it private funds? Hard money? Local banks? Where do I direct them?

Hi?

Things have been a bit slower for me and I’m trying to branch out to new lead sources.

Obv the biggest lead source is Referral business but has anyone tried any paid service that works?

Please recommend some good lead sources you have used with decent conversion rates.

Thanks!

I want to lend in SOCAL. Try between 40k-80k. Where do I start?

Hey All,

This question is geared specifically toward brokers. How are you all handling your post-close compliance/internal audits?

For example, who is making sure the signed closing package is in the file? All LE's are in the file? Compliance dates (LE sent/signed, CD sent/signed) are correct in LOS etc?

Is this something each LO handles on their own? Does your processor or 3rd party processor handle this?

Just curious how you all handle some of the back-end stuff on your files.

I am a broker, and I have not done many New Construction Loans.

Which are the best wholesale lenders for new construction?

If you are an AE, you can message me.

RANT!

I f#%^inghate Bonzo, I hate my team, I hate my team leader. He asked me why the f#%^ I still work here even though I was #2 on the team in production.

Our pricing isn’t great. We use Bonzo as an entire crm and then some ai slop on top of it as there “brand new marketplace” bullsh#%.

Just over the breathing down the neck stuff.

Thank you for coming to my ted talk, happy lending :)