what's the hottest mortgage company?

Hey hey hey! If your like me and enjoying life while making money and working a 40 hour week give me a hell ya. I thought it would be interesting for people out there to hear, where the hottest mortgage companies are with the best pay plans. I'm at First Horizon and I've got to say the pay is pretty good compared to E. I,m on track to make a 6 figure this year.

How do the others stack up?

Originally Posted by Unregistered

Hey hey hey! If your like me and enjoying life while making money and working a 40 hour week give me a hell ya. I thought it would be interesting for people out there to hear, where the hottest mortgage companies are with the best pay plans. I'm at First Horizon and I've got to say the pay is pretty good compared to E. I,m on track to make a 6 figure this year.

How do the others stack up?

do you get paid off of bps or revenue? Base salary? How bout your sources? Are you internet leads? 100% self-sourced? Just curious.

Originally Posted by Unregistered

do you get paid off of bps or revenue? Base salary? How bout your sources? Are you internet leads? 100% self-sourced? Just curious.

bps

lending tree leads

not self sourced

Originally Posted by Unregistered

bps

lending tree leads

not self sourced

40k base
100% self-sourced
1,000,000+ in volume pays out 110 bps
300,000 minimum volume to get paid = 45 bps

Just had one of my best months doing 1.8 million in volume.

In one month, I made what it took me as a BM 6 months to make.

Originally Posted by Unregistered

40k base
100% self-sourced
1,000,000+ in volume pays out 110 bps
300,000 minimum volume to get paid = 45 bps

Just had one of my best months doing 1.8 million in volume.

In one month, I made what it took me as a BM 6 months to make.

Really, damn bro, that is money. Are the bps paid on the loan volume or on the gross fees?

Originally Posted by Unregistered

40k base
100% self-sourced
1,000,000+ in volume pays out 110 bps
300,000 minimum volume to get paid = 45 bps

Just had one of my best months doing 1.8 million in volume.

In one month, I made what it took me as a BM 6 months to make.

So that's like a 22K month. Pretty good. However your leads are 100% self sourced. Does that mean you are paying for leads? Or are you beating the street? firsts, seconds, or helocs? or all three? Sub prime?

I betcha this threads gonna get hot quick.

I made $16k first month in business after leaving Erac. Leads generated by the company. Lost of incoming calls due to advertising. Easy to make $100k+ in a year. Paid off of percentage of fees charged and ysp.

Originally Posted by Unregistered

So that's like a 22K month. Pretty good. However your leads are 100% self sourced. Does that mean you are paying for leads? Or are you beating the street? firsts, seconds, or helocs? or all three? Sub prime?

I betcha this threads gonna get hot quick.

The company I work for has a pretty cool program that pays our referral sources (banks, credit unions, collection agencies, etc) up to 1 percent for every referral that results in a loan. I market for their turndowns in that banks are primarily conforming. . .which would make me part of the subprime market. It's a good life; however, let's be honest with ourselves, the business is a rollercoaster and is constantly up and down. I've had great months, i've had horrible months. However, I no longer wash cars for a living.
I guess what i'm trying to say is that in this business it is so hard to tell who is doing good and who is doing bad. A typical response from most people in the industry will take their best month (which could be $20k) and multiply it by 12. . .thus saying that they are on pace to making $240k. At the same time failing to mention that they missed commission for the past 3 months.

Anyhow, best of luck to you with 1st Horizon. I actually work right next door to them and their employees seem to be doing alright.

Originally Posted by Unregistered

The company I work for has a pretty cool program that pays our referral sources (banks, credit unions, collection agencies, etc) up to 1 percent for every referral that results in a loan. I market for their turndowns in that banks are primarily conforming. . .which would make me part of the subprime market. It's a good life; however, let's be honest with ourselves, the business is a rollercoaster and is constantly up and down. I've had great months, i've had horrible months. However, I no longer wash cars for a living.
I guess what i'm trying to say is that in this business it is so hard to tell who is doing good and who is doing bad. A typical response from most people in the industry will take their best month (which could be $20k) and multiply it by 12. . .thus saying that they are on pace to making $240k. At the same time failing to mention that they missed commission for the past 3 months.

Anyhow, best of luck to you with 1st Horizon. I actually work right next door to them and their employees seem to be doing alright.

Thanks for the reply.

Here's your dinner!! What up dude. It's an up and down business but bust your as work some extra hours and you come out ahead. It's pretty easy to stay steady above the 10k mark per month.