Mortgage Loan Originator

Dear Loan Origination Professional,

Even if you are already successful and think you are happy in your current position, sometimes we don't know what we don't know, and that can be detrimental to our career potential as loan originators. At times, there may not be anything wrong on the surface, which prevents us from asking ourselves how much more right it could be if we were exposed to a better system.

How do I know? Because I've been there myself…for a huge percentage of my career in fact. I was always a top loan originator putting up big numbers at every company I ever worked for, and unfortunately as a result, I thought I knew more than I did. In short, I had no idea what I was missing out on by becoming a broker again and combining that with other critical leverage points to help me earn the highest quality business out there, giving my clients better interest rates and making way more money doing it. The freedom to have access to all the top lenders, the best pricing, substantially better compensation, and without all layers of management from massive correspondent/banking operations constantly digging into my pocketbook.

Here is a simple and straightforward breakdown on why top loan originators are joining our team and never looking back. FACT-we have not had a single employee quit or be terminated since the start of our company. If that isn’t a testament to the things we are doing right, then I’m not sure what would be. As a top loan originator who is potentially looking to make a transition, there are some major considerations, and listed below are a few of the important ones:

• 
  Pricing- The name of our company says everything you need to know. We are able to sell better rates, lower fees and lower PMI than our banking and correspondent counterparts
• Compensation- get paid WAY MORE than the industry average despite selling lower rates
• Technology- we provide you all the most cutting-edge tools to help you close more business, and monitor your previous business so that you never lose an opportunity on a new deal or a past client
• Operations- simply put, our process is dialed! We have experienced top-notch support staff in place to handle the paperwork so you can stay focused on moneymaking activities, i.e., taking more applications and selling more loans. We also have access to 3rd party processing so that you aren't stuck paying your processor out of your own compensation.
• Coaching- high-level coaching to help you grow your pipeline and level up your business even if you are already a high-level LO. None of us is our own best coach
• Work remotely! We had already proven this to be extremely effective a number of years before COVID forced many other companies to learn this. Working remotely is more productive for most employees if you have the right setup and technology in place
• Licensed in 6 states and adding more states monthly. More states equal more opportunities to close more volume. We focused on the top states that convert the best to help you generate more business. (Colorado, Florida, Michigan, Minnesota, Washington, Wisconsin, are active. Virginia and Texas will be online soon.)
• Employee Benefits- we offer healthcare/vision/dental insurance and 401k benefits to all of our employees

Having said that, here's what I have in place that I believe makes Reduced Fee Mortgage Inc. a superior choice in each of those categories:

Pricing
As most seasoned loan officers are aware, the lenders that have the best rates continually ebb and flow on a regular basis. This is why we have more than 20 different lenders in place (with over 40 different lenders available overall), to make sure that we are in a position to always offer the best pricing regardless of what any individual lender may do at a certain point in time

As a broker, we can sign-up any new lender within a matter of days if we want to add them to the roster. We are not bound to one rate sheet like a bank or a correspondent lender

Transparency- as a broker we also have lower margins across the board and those margins are 100% transparent for everyone to see, meaning there is no greedy middleman putting all of your commissions in their pocket. This means better compensation for the loan officer (more regarding that in the next section).

Compensation
Our compensation plan is 200%+ greater than the industry average, and there are multiple ways to get paid:

The 100% Comp plan
If you are a loan originator or branch manager who is looking for the best pricing and compensation, then this is the plan for you. Under this plan, you keep 100% of the revenue that comes through the door, minus an $1195 per file fee to RFM and expenses that YOU get to dictate. You have complete control to choose which lenders you want to use, where you want your compensation set with those lenders, as well as what you want to spend money on and what you don't want to spend money on to maximize the success of your business. We have many tools in place but It's all up to you which ones you want to use and which ones you don't!

Recruiting Comp Plan
For every qualified loan officer that we hire through your referral, you will receive an ongoing compensation of $300 per loan, per loan officer for as long as you are employed by RFM. In other words, as a loan originator at RFM, if you were to refer 10 loan officers that do 10 loans per month, you would be collecting $30,000 per month as a recruiting fee, which is completely independent of your own loan origination.

Technology
At Reduced Fee Mortgage, one area that we do not cut any corners on is technology. Technology to generate new business. Technology to make sure you don't lose the business you already have. Technology to scavenge your current database and notify you if rates drop, or if your client gets their credit pulled by another lender, or if your client puts their current home on the market. Technology to make document collection super easy (even for clients who are not tech-savvy), as well as making the overall loan process so much smoother than what you are probably used to.

Operations
While this may sound a little harsh, one of the simple reasons behind our operational success is the fact that we only hire pros when it comes to both loan originators and loan processors. Our systems flow smoothly and make our employees a lot of money, both on the origination side as well as the administrative side for this reason. In fact, we have some of the highest-paid administrative people in the industry. The reason why is very simple. This is not a training ground for newer people in the industry. This is a platform for high functioning professionals who already know what they are doing, but want to sell better rates, get more high-level support, close more loans, and be paid more on each closing.

We are the only company that I am aware of, that does not have a single administrative person on base salary. Not one! Yes, you heard me correctly. Our administrative support staff is 100% commission just like you are. Why would any administrative person in their right mind subject themselves to this? Because we close a ton of deals, and they get paid much more money per deal than the industry average, and they know this! What does this mean to you as a loan originator? Simply put… Your administrative support staff wants every loan closed as badly as you do! They have a lot of money at stake just like you do, and if the loan doesn't close, they don’t get paid. None of us do! This means we are all in it together, which naturally creates a very high proven success rate.

FREE Coaching and team building resources
We spend thousands of dollars per month on coaching that you have 100% free access to, as well as hiring tools you won't pay a penny for to help you build your team as you grow. We are all about helping our loan originators solve the bottlenecks in their careers, level up, and build out the right team.

In addition to this here are a couple of other important benefits that you will want to be aware of:

We work 100% remotely!- work from home (or a private office if you choose). The result of our team doing this is simple. Fewer distractions, greater results, and bigger paychecks across the board. There is absolutely no question that this works. I had my own office for 16 years and going remote was the best thing our team ever did! Don't worry, we will still get together for team events, dinners, and happy hours so we can high-five in person from time to time.

Employee Benefits

• 401k - RFM Employees are eligible for 401k
• Health/Dental/Vision Insurance - RFM offers a group health plan with multiple options including HSA plans

Think you have what it takes to be a good fit for our team? If you are serious about leveling up your mortgage origination career in a hurry, apply today.

$100,000 - $500,000+ yearly

We are looking for top mortgage professionals that are looking to take their loan origination career and production from good to great. As a loan originator who is a good fit for our team, your primary responsibilities will be:

• Prospecting for new leads (we also set realtor appointments for you to help with this)
• Structuring, qualifying, and selling new loans for your support team to take from submission to CTC

We are looking for team members who possess:

• 3-5 years minimum of (current) loan origination experience
• Highly proficient knowledge in mortgage guidelines (Conv, FHA, VA, USDA)
• AUS (LP and DO) skills and problem-solving abilities (GUS is a plus but not mandatory)
• Great people skills and a great attitude
• A great degree of resourcefulness
• Technological proficiency (a major plus and will help you excel in our systems)
• Experience with ARRIVE LOS is a plus (but not required because it is so darn easy to use)
• Licensed or willing to get licensed in Colorado, Florida, Michigan, Minnesota, Wisconsin, Washington (Texas, Virginia, Maryland, and California coming soon)

Reduced Fee Mortgage, Inc. is a rapidly expanding, highly innovative company that is attracting top producers for a good reason. We aim to take an increasingly larger slice of the lending industry, and we are continually seeking to partner with talented, driven, like-minded people who have the desire and ability to achieve that goal together.

For more information about who we are and what we do, go to www.reducedfeemortgage.com