|
The BankAgenttm Program |
|
Highlights |
Not a net-branch. Lend in all 50 states (FHA in 46). Retain your company
status. Loan Officer Assistant program with Federally Charter Banks. |
|
Licensing Required |
No licensing required. Loan Originator Assistant
Status |
| Membership Fee |
One time $495 Membership Fee - All 50 states
|
|
Product Mix |
FHA, A, Alt-A, Sub-Prime, VA
Commercial/Construction |
|
Leads |
50 free leads supplied per week |
|
Application |
Calyx Point, Fannie Mae File, Handwritten
Applications |
|
Processing |
Mortgage Pros Processing Center - $495 per
loan |
|
Experience |
1 Year |
|
Volume Requirements |
None |
|
Conventional Loan Commission |
Loan Originator Assistant earns up to 100% of
Origination and Yield Spread Premium
See Commissions |
|
Conventional Loan Fee |
$995 Bank Fee, $310 Quality Assurance Fee. See Fee Disclosure |
|
FHA Commission |
Loan Originator Assistant earns 70% of
Origination and Yield Spread minus 0.5 pt. See Fee Disclosure |
|
FHA Loan Fee |
$450 Application Fee plus $495 Processing
Fee
See Fee Disclosure |
|
DBA |
No |
|
Reserve Account Required |
No |
|
Benefits |
No |
|
# of States |
50 |
|
Direct Marketing
Allowed in States |
Not Allowed |
|
Method of Pay |
1099 |
|
Pay Period |
7-10 days of closing |
|
Lenders |
All Lenders Available (If not on list,
30 day approval
period) |
