Start, Run, and Manage a Successful Mortgage Business
What you'll learn
- You will be able to understand how mortgage businesses work
- You will be able to start a new business with high profit potential
- You will understand what is needed to start a mortgage brokerage business
- You will understand what is needed to start a correspondent lender and lender business
- You will understand what is needed to start a lender servicer business
- You will learn how to get approved with lenders to start doing business
- You will learn how to get approved with credit companies to start pulling credit and reviewing credit reports
- You will be able to submit loans, close loans, and be compensated for doing this
- You will learn how to hire, run quality control checks, create a hiring agreement, and prepare a payment structure
- You will understand what it takes to process a mortgage loan
- You will learn how to close a mortgage loan from beginning to end
- You will learn why starting a mortgage business can be a great financial decision
- You will learn how to complete an application to get approved for a mortgage brokerage business
- You will learn how to complete an application to get approved for a correspondent lender and lender business
- You will learn how to complete an application to get approved for a lender servicer business
- You will understand what it takes to run a completely virtual mortgage business
- You will understand how each mortgage business type profits from each transaction and how to can be a part of this
- Must understand English
- High School Diploma level Mathematics
This is one of the few mortgage courses that actually teaches you how to obtain your mortgage business license from start to finish, how the entire business works, and how to run your own mortgage company. Once you become licensed as a Mortgage Brokerage Business, or Correspondent Lender/Lender, or Mortgage Servicer Lender you can get approved with different lenders to start originating mortgage loans and receive a much higher compensation than as an employee.
In this course you will learn:
How to start a mortgage business no matter what structure you choose to begin with can be very fulfilling financially and lifestyle wise. You can choose to make your business as large or as small as you want by having a small group of employees or a large group. You can choose to hire a branch manager to take care of the daily operations and you just oversee the business and its future growth. Just like starting any business, there are many things to learn but this course takes the guess-work out of the equation by telling exactly what you need to do and who to contact. In order to start any of these mortgage businesses you need to obtain your mortgage loan originator license and either work in the industry for 1 year or hire someone who has worked in the industry for 1 year but this can be done fairly quickly. This course will take you behind the scenes into a world that most people never want you to know about and will never teach you how to get started. The best thing is you will have very low start-up costs and very high profit potential. If you decide to work from home, your initial costs will just be paying for your licensing which you will learn about in this course.
Main benefits of this course and of starting a mortgage business:
- Get others to work for you. Stop chasing leads and borrowers. Your mortgage loan originators will bring in deals and you help them to close those deals and make a profit in the process.
- More time. As the owner of the business you can choose to hire employees to take care of the daily operations of the business and have more free time to focus more on what matters the most and spend more time with the people you love.
- More freedom. When you own a business, you get to choose your hours, who you want to work with, and how much you want to make.
- Make more money. When you are an employee, you always receive a smaller compensation than as the employer. When you own a mortgage business you have the capacity to make much more of the profits than ever before.
As a mortgage business owner you can make $100,000+ if you're just starting out and $2,000,000+ if you're an established company depending on how you structure your business.
- More control. You will have complete control over the transaction and the speed at which your loans close which is very different to make happen when you are not the owner of the business.
- You get to help others have a job and a career. Everyone knows that finding a job is not that easy and a great paying job even more. That's why offering other people a chance to work for you and your business is a blessing that everyone will appreciate.
- Having control over your own home loan. As the owner of a mortgage business and as a mortgage loan originator, you will have the unique opportunity to buy real estate at lower rates and with reduced closing costs.
- You won't have to find a job anymore once you open your business you won't have to work for any one and will have the power to hire others and great an empire.
HOW MUCH CAN YOU MAKE IN A TYPICAL TRANSACTION AS A MORTGAGE BUSINESS?
As a Mortgage Brokerage Business, you typically make up to 2.75% in compensation. This would be the breakdown of how much you can make:
Loan amount $300,000 x 2.75% = $8,250. This is how much you would make and depending on your mortgage loan originators compensation pay structure you pay the MLO their portion of the compensation.
What will you learn in this course?
- How to get licensed as a mortgage business
- How to get approved with lenders
- How to choose what lenders to work with
- How to choose a credit company to pull borrowers credit reports
- Choosing what LOS (loan origination software) to use
- Successfully hire mortgage loan originators
- Successfully create a payment structure for mortgage loan originators
- Understand how to process a loan and how to hire a processor
- Understand how to prevent fraud and create a quality control plan
- How to read and understand financial statements
- How to prepare a profit and loss statement as well as a balance sheet
A course diploma will be available to you when all sections have been completed at 100% which you can save or print. For instructions on downloading your course diploma you can go to: https://support.udemy.com/hc/en-us/articles/229603868-Certificate-of-Completion
Joseph Correa is the founder and CEO of Finibi Mortgage, a licensed mortgage brokerage business based out of Orlando, Florida. Having closed hundreds of mortgage loans, he has processed, originated, and audited the majority of his loans. In the past, he has also owned a correspondent lender business and invested in real estate.
Who this course is for:
- Anyone looking to start a new career in real estate as business owners
- Real estate agents looking to increase their income by starting a new business
- Students who want to make a large income no matter what your age
- Anyone who wants to start a career in real estate
- Adults that need a job but can't get hired
- Anyone who wants to be their own boss in a growing and profitable industry
Hi, my name is Joe Correa, and I'm a multi-business entrepreneur with years of experience in real estate, mortgage, personal finance, and investment advisory in Florida. I believe in living a financially independent lifestyle by maximizing your strengths and creating passive income streams to balance your life. I've chosen to follow the path of philanthropy by helping others to fulfill their dreams by reorganizing their financial lives in a way that would give them the most free time while increasing their income. I believe in not working harder but instead in making money and knowledge work hard for you. I am the author of several books and am very passionate about teaching. Once, you become one of my students, you can message me and ask me anything you have doubts on. I can't wait to see you inside one of my courses.
These are some of the books I have written besides the courses I have created online.
Joe Correa is the author of:
"The Compound Interest Millionaire"
In this book, Joe teaches you how to retire wealthy by using the power of compound interest.
"How to Pay Off Your Mortgage in 6 to 8 years"
Learn how to eliminate your mortgage debt in just a few years using new techniques that will allow you to own your home free from debt.
"Rich Kids Made Simple"
Teaching our kids how to manage their finances at a young age is the only way to prepare them for life and all the financial pitfalls that can appear in their path.
"How to Take Your Credit Score from 0 to 800"
Managing your credit is necessary in our economy and this book teaches you to save the most on interest by having the best credit scores.