WE HAVE OPPORTUNITIES FOR SUCCESSFUL LOAN OFFICERS AND BRANCHES
Successful origination team or loan originator?
You need to be where you can achieve your earning potential!
WNC understands what it takes for production individuals and teams/branches to be successful and has established marketing arrangements with a select group of Mortgage Lenders that offer the tools and support that will let production groups meet their potential. We have identified Lenders that provide the following:
Nationwide Licensing: We have focused on bank-owned lenders where you can originate mortgages in any state and where the Loan Originators have Nationwide licensing preemption
Profitability Model: Successful branch managers that can grow production and control costs can make dramatically more if operating on a profitability model. We have lenders offering these origination models . For individual LO’s we have lenders that allow the remote LO to earn higher origination fees.
Ability to Set Margins: Our lenders allow the branch to set their own profit margins and thus control the competitiveness of pricing
Ability to Set Lender Fees: Our lenders allow the branch to establish their own lender fees
Complete Product Menu: Our lenders have complete menu’s offering all secondary products plus specialty products. We have lenders offering construction products to their production groups and a lender that has the best portfolio jumbo arm products in the Country.
Consistent Timely Underwriting: The lenders we represent all underwrite in-house and all maintain exceptional turn times (48 hours or less) They are also known for consistency in their decisioning processes. Based on volume, the lenders will allow for an underwriter to be placed in the unit.
Low FICO Score Options: The lenders we represent have options for the origination of FICO scores below 620. Below certain levels they may choose to have those loans brokered.
Ability to Broker Certain Products: Most of the lenders we represent allow the production personnel to broker loan products that are not offered.
Technology: The lenders we represent, make a conscious effort to provide the production units with a top LOS, LO and branch websites, price and product engines and in some cases point of sale / CRM systems.
Production Unit Requirements:
Our lenders are seeking production units that have a track record of producing an average of $3.0 million or more per month
Our lenders are seeking individual loan originators that have a track record of producing an average of $800,000 or more per month
Source of Production:
Our lenders are seeking production units and individual loan originators that have developed realtor and builder relationships that generate leads for purchase transactions. They are not interested in production units and individual loan originators that rely on purchased leads or call centers that focus solely on rate driven refinance transactions.
Mix of Production:
Our lenders are seeking production units and loan originators that primarily produce government loans and conforming conventional loans. They are not interested in those that focus on specialty products or jumbo production.
Length of Time in Business:
Our lenders are seeking production units and loan originators that are mortgage professionals that have been in the industry for a minimum of 5 years. If a production unit, they could have some LO’s with less that 5 years in the business.
Purpose for Moving:
Our lenders are seeking production units and individual loan originators that are looking to make a move to an organization that can provide them with the support needed to achieve their potential and want to be part pf a larger successful organization.
Our lenders require that we assemble a comprehensive documentation package on each production group or loan originator: Below are the requirements for them:
Production Unit Documentation Requirements:
Production unit fact sheet
Documentation of past production-this can be in the form of production reports, W-2’s, or the detail behind payrolls. Need to detail the loan types.
Staffing Information- this will include individual employment applications on each staff member and their individual resume’s. (Please note that lenders will pull credit on the individuals but they understand that individuals do have challenges with their credit from time to time)
Marketing Plan-Narrative on the unit’s plan for generating business.
Pro-forma – Detailed pro-forma for a minimum of one year including production, revenue and expenses.
Individual Loan Originator Documentation Requirements:
Loan Originator fact sheet
Documentation of past production-this can be in the form of production reports, W-2’s, or the detail behind payrolls . Need to detail the loan types.
Individual Employment Application
Production Projections-Lenders usually look for detailed projections for the next 12 months.
The Role We Play
Below are the functions that we perform in the process:
Marketing– We market the program and generate interest from production groups and loan originators.
Consulting on Best Option– We discuss your needs and your options with the lenders we represent.
Application Assistance– We assist the production groups/loan originators
Negotiation Assistance -We assist you in negotiating the best terms possible with the lenders.
Transition and Post-Transition Assistance– We know that no transition goes perfectly and WNC will assist you in the transition and after transition if issues arise.
We suggest the following steps:
Complete the Questionnaire available by clicking the button below.
Call to review your information and discuss options