Remote Mortgage Loan Originator Jobs Florida 1099/275bips+90% Payouts @ Closing.
M-F 11 AM Daily Zoom Training For New MLO+90%1099 Payout
Licensed in: FL, GA, AL, SC, NC, TX, AR, OK, LA
https://www.usmortgagelenders.com/usml-mortgage-loan-originator-job-questions-and-answers/
Mortgage Loan Originator Jobs Questions And Answers
Why should i cosider working for (USML) US Mortgage Lenders LLC?
(USML) US Mortgage Lenders LLC offers 90% payout, up to 275bips, par rates, with over 100+ Lenders, all the specialty mortgage loan programs, and daily Zoom screen share training and support Monday – Friday.
Does US Mortgage Lenders Allow its originators to work Remote Work From Home?
Yes, US Mortgage Lenders LLC hires remote work-from-home mortgage loan originators. All remote originators must follow the remote work-from-home policy. Identity theft is the largest financial crime in this country and a mortgage application provides everything an identity thief would need. With that being said remote work-from-home mortgage loan originators must follow work from home security measures while working remotely.
What States is (USML) US Mortgage Lenders LLC hiring in?
We are expanding in the following states in Florida :: Georgia :: Alabama :: Texas :: N. Carolina :: S. Carolina :: Arkansas :: Oklahoma :: Louisiana.
What is the commission split with US Mortgage Lenders LLC?
The total commission mortgage loan originators can earn is 2.75% lender paid or borrower paid. The payout to MLO is 90% commission in 1099 states and 80% in W2 states. All commissions are immediately disbursed after receiving mortgage compliance to the checklist and payout request.
When will I be paid for each closed loan?
In 1099 states MLO’s be paid on the day of closing. For states that require a w2 the payment is provided as soon as payroll is available by direct deposit the next business day. Note: All post closing documents must be received.
What (LOS) loan origination software is available?
We offer UWM Blink at no cost, others can pay to use if they choose ARIVE.com or Preapp1003 the monthly fees apply.
How many US Mortgage Lenders do I have access to?
MLO’s have access to 100+ lenders including all the speciality loan programs including and not limited to FHA, VA, Conv, USDA, NONQM, Private lenders, Commerical lenders, you name we have it.
Do I have to use your processor or can I process my own loans?
You can hire an NMLS-licensed processor or process your own loans and some lenders will even process the loan for you.
Who must be licensed to originate mortgage loans?
MLO: Mortgage Loan Originator – Chapter 494, Florida Statutes: The license is required for an individual who, directly or indirectly, solicits or offers to solicit a mortgage loan , accepts or offers to accept an application for a mortgage loan, negotiates or offers to negotiate the terms or conditions of a new or existing mortgage loan on behalf of a borrower or lender, or negotiates or offers to negotiate the sale of an existing mortgage loan to a non-institutional investor for compensation or gain. The term includes an individual who is required to be licensed as a loan originator under the S.A.F.E. Mortgage Licensing Act of 2008.
What states require w2 employment as a mortgage loan originator and what states allow 1099?
Each state has their own laws in regards to how a company must pay mortgage loan origionators. For the states of Georgia, North Carolina, South Carolina, and Louisiana all require a w2 payout. And, Florida, Texas, Alabama, Arkansas, Oklahoma, allow payouts by 1099.
Who are most of your mortgage loans brokered out to?
USML mortgage loan originators have access to over 100+ wholesale lenders. Most of our loans go to UWM, Plaza, Equity Prime, Angeloak, Lendsure, ADmortgage.
Are the rates padded by US Mortgage Lenders?
We are mortgage brokers so we can Not pad our rates. We offer par wholesale rates from all the top mortgage lenders.
How long does it take to get started with US Mortgage Lenders LLC?
Upon signing the agreement and meeting all state licensing requirements qualifications we will request your logins for Advantage credit, your LOS software, and your Lenders list credentials. Your state’s NMLS could take 24-48 hours to approve your license transfer.
What is The SAFE Act?
The SAFE Act mandated that Nationwide Multistate Licensing System (“NMLS” or the “System”) thatestablish protocols for assigning a unique identifier to each licensed or registered loan originator that will “facilitate electronic tracking and uniform identification of, and public access to, the employment history of and the publicly adjudicated disciplinary and enforcement actions against loan originators.” All individuals who maintain a record in the system are assigned a unique identifier which is permanently attached to that person or entity and remains attached to the individual’s record regardless. Companies and branch offices that are licensed or registered through NMLS are also assigned unique identifiers.
Do you need a criminal back round check to be licensed as a mortgage loan originator?
As determined by each state agency, Direct Owners, Indirect Owners, Executive Officers, Branch Managers, and Qualifying Individuals must submit a (CBC) Criminal Background Check through NMLS. The requirement to submit a CBC through NMLS varies by license type, position held, and agency. Please review the MU2 NMLS CBC Requirements Chart to determine individuals reported on the MU2 Form that are required to submit a CBC through NMLS.
How do I find a school for mortgage loan originatior license education?
The NMLS maintains a list of approved course providers which is updated monthly. These are the only entities authorized to deliver courses for MLO licensing.
What are the Continuing Education (CE) requirements?
Federal and State law requires MLOs to complete a minimum of eight (8) hours of annual CE which must include the following:
a. Three (3) hours of Federal law and regulations;
b. Two (2) hours of ethics that shall include instruction on fraud, consumer protection, and fair lending issues;
c. Two (2) hours of training related to lending standards for the nontraditional mortgage product market; and
d. One (1) hour of undefined instruction on mortgage origination.
Alert: Many state agencies also have state-specific CE requirements. See the State-Specific Education Requirements for details.
When do I need to complete CE continuing education?
the The CE requirement is set based on license approval date and is required to be completed prior to submitting for license renewal. See the State-Specific Education Requirements for additional details and deadlines.
Who will i use to pull credit reports?
You can charge the borrower exaclty what the credit reports cost using Advantage Credit Reports.
https://www.usmortgagelenders.com/
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US Mortgage Lenders LLC
Thomas Martin
911loan@gmail.com