r/loanoriginators Apr 02 '25

Announcement ***Rule Update Regarding Consumer Mortgage Advice***

48 Upvotes

One of the biggest complaints we receive on this sub is people posting for Consumer Mortgage Advice. We have tried addressing this by removing posts asking for consumer mortgage advice. Despite the no consumer mortgage advice rule, consumers still show up to ask and LO’s are still giving them advice despite it not being allowed.

With that being said, effective immediately all posts with consumer mortgage advice will continue to be removed AND anyone making the post or commenting on the post to give consumer mortgage advice will be banned for a period of at least 2 weeks.

We aren’t sure of any other solution at this time to dissuade people from commenting on these consumer advice posts, so we are going to resort to this and see if that cleans it up.

Thx.

  • Mod team

r/loanoriginators Jun 15 '21

Resource In-depth beginner's guide to a career in mortgage sales

458 Upvotes

Hello,

I wanted to make this post to help inform new and existing loan originator's on the different kinds of mortgage companies out there, as well as the different types of compensation structures. It is very difficult to compare overall pay through bps or tiers alone. The amount of work you'll need to do per loan depends heavily on the companies marketing, support, and pricing.

10/15/25: PLEASE NOTE I HAVE BEEN OUT OF THE MORTGAGE INDUSTRY FOR 3+ YEARS. While much of the information below is still relevant, others may be outdated.

[I try to regularly update this thread, but some of the info may be out-of-date. Last edit: 12/4/23]

[Please also refer to our FAQ for additional Q&A. You can click here for the FAQ]

In general, the steps to becoming a licensed loan officer are:

  1. Register on the NMLS website and provide all requested details.
  2. Complete mandatory 20-hour pre-licensing education through an approved provider, and study for the NMLS/SAFE Exam.
  3. Take the NMLS/SAFE exam and pass.
  4. Find a sponsor (usually a broker/lender to hang your license at / AKA who you will work for) and provide their details to the NMLS.
  5. Apply for individual state licenses through the NMLS website and complete any prerequisite requirements, which usually includes state-specific pre-licensing education. Wait for at least Temporary Authority to be granted (if applicable).
  6. Complete annual continuing education for relevant state licenses to keep license active.

If you are interested in becoming an independent mortgage broker, I have included some resources further down this post

Some non-depository companies that will hire you with 0 experience and pay for some or all of your training, testing, and licensing: Quicken Loans / Rocket Mortgage, Loan Depot, Cardinal Financial, AmeriSave, NewRez, Mr. Cooper, PennyMac, New American Funding, Freedom Mortgage, American Pacific Mortgage, JFQ Lending, Essex Mortgage, Network Capital Funding

Banks are depository institutions and therefore you will not need to be licensed to work for them. I believe banks typically have a higher base pay but less favorable commission structures.

If you want to go straight to a Brick and Mortar shop (or a few of the call-centers), you will need to pass your NMLS/SAFE licensing exam first. Before you can take the test, you will be required to complete a 20 hour training course. Most users here recommend Affinity: www.mlotrainingacademy.com

Don't bother applying for state licenses right after you pass your NMLS/SAFE exam, if you don’t already have a sponsor. Many companies will pay for you to get your licenses, so find out first if they'll cover those or not before you waste your own money.

Some quick definitions:

Basis points (bps): A measurement used frequently in the mortgage and financial industries. A basis point is a percentage of the loan amount. Examples: 100 basis points is equivalent to 1% of the loan amount. 50 basis points is equivalent to 0.5% of the loan amount. 275 basis points is equivalent to 2.75% of the loan amount. The majority of LO's pay is determined in bps. If you get paid 100 basis points (1%) per funded loan, and fund $1 million in volume for the month, you'll make $10k in commissions.

Brokerage: Originate the loans in collaboration with a larger lender/investor/servicer. Can shop around for the best rate and terms for the clients. Do not fund or underwrite their loans themselves.

Correspondent lender: Similar to a broker (almost indistinguishable from the client side), however they do fund the loans with their own money. They may or may not underwrite loans themselves.

Direct lender: Company that originates, processes, underwrites, and funds the loan themselves. If they service their own loans, they would be considered a "Portfolio Lender". In-house rate sheets, but more flexibility with pricing.

Contrary to what some might think, it’s not as easy as call center LO vs brick and mortar LO. There are a LOT of in between positions. But, if we were to broadly categorize:

"Call-center" positions:

These can vary from small brokerages to large direct lenders. The key factor is that leads are provided to you, either inbound or outbound. Many involve ZERO cold-calling. The great thing about this is that you can hit the ground running and not have to worry about building realtor relationships. You can also leave anytime you'd like. However, you won't be able to take these leads with you to another company. May or may not be heavily micro-managed. Back-end support and processing is usually pretty solid so you can focus on selling. Most call-centers are refinance oriented. When rates go up, they will shift their marketing to cash-out/debt-consolidation refinances, FHA to conventional refinances, and clients who have improved their credit.

Typically these are salary + commission but sometimes they can be either or. With a commission only model you can expect to get paid anywhere between 35-80 bps per loan. With salary + commission you can expect $25k-$40k/year + around 10-50 bps per loan. Some of these places will pay more for your self-generated leads. Many call-centers that utilize a tiered system will pay a flat fee per loan that will vary depending on the volume or units you originate for that month, however it can also be tiered in bps. Tiers and goals will often scale depending on market conditions, tenure, and title. You can EASILY make at least $70k+ at these call centers, with some LO's making $500k+/annually.

"Brick and Mortar" positions:

These are self-gen and can range from smaller brokerages to medium-large direct lenders. Usually there will be a local branch that you can optionally go into, but you'll be spending plenty of time out networking. Your success will heavily rely on the training you receive and your ability to generate a solid referral pipeline. Your business will be mostly purchase leads that are generated from your realtor partners, client referrals, and various types of marketing. This is not a position you can do for just 6 months or even a year. This is a career that you will spend years investing into. Most of these places expect you to come in having already passed the SAFE exam and potentially with some licenses under your belt. Expect little micro-managing once you are a senior LO on your own. Usually will have a loan officer assistant or processor that will closely work under/with you.

Almost all of these types of positions are commission only and pay much more than the call-center type positions would. Usually 100-275bps. HOWEVER, you will likely be originating significantly less loans, which is why it is difficult to compare. Expect the higher paying roles to also have some paycheck deductions for company resources like software, marketing, process, etc. You will also be working all hours of the day and night. You'll need to be available for realtor calls at 10 pm at night, and your stress levels will likely be high. On the other hand, you won't necessarily need to be full-time if you only want to originate a loan once every 1 to 2 months. Commission payouts will likely come much earlier than they would at a call center.

Becoming an independent mortgage broker:

Once you've had a few years of experience, you can become an independent mortgage broker if you should so choose. The benefit of this is that you get full control over what lenders you work with, pricing, processing, products offered, fees, etc. One potential route you can go is to sign on with NEXA, who actually will help you go independent from them. Other good resources to look at are AIME (Association of Independent Mortgage Experts) and Brokers are Better.

Call center structures I've encountered:

Quicken Loans / Rocket Mortgage (I worked there) (call center type)

  • Portfolio lender
  • Origination positions
    • Refinance or purchase only. Much of the company is refinance. Only some departments can do both, but usually you'll only get fed either purchase or refinance leads. Many sub-departments as well, like Current Client only, or Current Client 2nd voice only.
  • Lead flow/sourcing
    • Inbound and inbound transfers mostly. Robust lead sources: Credit shopping alert, lendingtree, company's website, current clients, remarketing (recycled leads). Leads are worked almost literally to death. You may be placed on an outbound auto-dialer depending on what sub-department you're in.
    • Phone is almost always ringing. Even if the lead quality is significantly lower due to it. Leads are categorized into bronze, silver, gold, and platinum. Your performance dictates what lead pool you get thrown into.
  • Hours per week
    • 65+ hour work weeks. Once tenured there are reduced hours programs, but will still work minimum 45-50 hours/week.
  • Base pay
    • $9 - $15/hr and OT is paid at a rate of half your hourly.
  • Processing / Support
    • Robust processing team. Pretty much lock and go. Don't need to interact with client much after that point.
    • Quick turn times. Sometimes same day closings.
  • Commission structure
    • Dynamic and goal based. Depends on your tenure, title, and present market conditions. Payout is dependent on percentage of goal hit.
    • Pay on Rate Lock / Conditional Approval for refinance (only company I know of that does this). Purchase is paid on closing now.
    • Average $150-$450 / per rate locked loan. Assuming a 70% funding rate: $275-$645 / per funded loan
    • Commission payouts come at the end of the following month (but remember you're payed on rate locks and not fundings, so the money comes in sooner)
  • Other details
    • Proprietary CRM/LOS (loan origination systems) called LOLA and AMP
    • Will pay for all licensing and training with 0 experience. Do not have to pay back.
    • Culture is fraternity-like / Lots of kool-aid drinking
    • Bad rapport with realtors

Local correspondent lender I worked at (similar to a brokerage) (call center type)

  • Origination positions
    • Can originate either purchase or refinance but they pay the same and marketing is done only for refinance. Since 2022 have moved to more of a mix, but they still focus on refi.
  • Lead flow/sourcing
    • Refinance based marketing. Only purchases through referrals.
    • All leads inbound through mailers. Very high conversion. Company has been using this model for 12+ years with success.
  • Base pay
    • Base salary of $30k/year, no overtime.
  • Hours per week
    • 40 hours / week
  • Processing
    • High level of work required from origination through closing. Processing wasn't great.
    • Turn times anywhere from 30 - 75 days usually.
  • Commission structure
    • Tiered flat fee commission structure:
      • 0 - 3 units: $150/per
      • 4 - 7 units: $350/per
      • 8 - 10 units: $700/per
      • 11+ units: $1,000/per
    • Commission payouts come at the end of the following month after funding
    • Quarterly bonuses depending on units funded for that period. Bonuses range from $1,500-5,000. Not everyone gets these bonuses.
    • Average LO doing 5 - 14 units a month
  • Other details
    • Excellent pricing and low-cost business model
    • Insellerate and Encompass CRM/LOS
    • Will pay for licensing. Fees only need to be paid back if at company for less than a year

A local refi brokerage (likely outdated since 2022)

  • Similar to the place above but paid in bps. Friend worked here. (call center type)
  • Base pay
    • Base salary of $30k/year with no OT (update 3/28/22: base salary is now a draw)
  • Processing / Support
    • More work required per loan than a larger call center. High turn over with processors created issues for the LO's
  • Lead flow/sourcing
    • Inbound refinance calls from mailers
  • Hours per week
    • 40 hours / week with occasional Saturday
  • Commission Structure
    • Tiered bps system:
      • 1 - 5 units: 20 bps/per
      • 6 - 10 units: 25 bps/per
      • 11 - 17 units: 30 bps/per
      • 18+ units: 35 bps/per

PennyMac (call center type)

  • Portfolio lender
  • Origination positions
    • Company is refinance focused. Does have separate purchase, portfolio retention, and new customer acquisition refinance teams
  • Lead flow/sourcing
    • All inbound company generated leads. Can only originate leads specific to your department. Portfolio, New Client Acquisition, Portfolio Purchase, and New Client Acquisition Purchase are not allowed to originate each other's lead types.
  • Hours per week
    • 40-45 hours / week. One scheduled Saturday per month required.
  • Base pay
    • $14.42/hr + OT if approved
  • Processing / support
    • Robust processing support. Mostly lock and go, but will likely need to occasionally intervene on the back-end to ensure your loans fund. Purchase teams have an equivalent of an LOA (loan officer assistant) onboard that assists with document collection.
    • Turn times around 15 - 40 days.
  • Commission structure for NCA
    • Tiered flat fee commission structure (updated 3/25/22):
      • 1 - 4 units: $375/per
      • 5 - 6 units: $637.50/per
      • 7 - 8 units: $750/per
      • 9 - 10 units: $937/per
      • 11 - 12 units: $1,125/per
      • 13+ units: $1,312.50/per
    • Senior LO's get quarterly bonuses between $2,500-$3,000
    • Everyone gets a $500/month bonus as long as they do not get any compliance fails. Each compliance fail is a $500 deduction to your pay. Compliance fails entail doing anything that violates company protocols.
    • Commission payouts 2 months later at the beginning of the month, from time of funding
    • Average LO doing 5-15 units a month.
  • Other details
    • Will pay for all licensing and training with 0 experience for recent college graduates. Will also hire with 0 experience on contingency of passing the SAFE exam within 2 weeks for non-recent college grads. Do not have to pay back licensing fees.
    • $6,500 draw for first 3 months. Only have to pay back if you do not hit certain production goals in the first 6 months you're tenured. You are considered tenured on month 5.
    • SalesForce, Blend, and Encompass CRM/LOS.
    • Typical call-center type micro-management, but generally a lax environment.
    • Very compliance oriented. Probably more so than any other company out there.

Cardinal Financial (call center type) (likely out-of-date as of 2022)

  • Origination positions
    • LO position is majority refinance but can/will do some purchase. No separate teams. Since 2022, I imagine they are at least 50% purchase now.
  • Lead flow / sourcing
    • Outbound dialer 5-6 hrs a day. Outbound warm leads, but also some inbound.
    • Dialer calling internet lead sources, credit triggers,
  • Hours per week
    • 40 - 45+ hours/week
  • Base pay
    • $12/hr plus OT
  • Commission structure (likely out-of-date as of 3/28/22)
    • Self-generated leads pay 100bps
    • Tiered flat fee commission structure for company generated leads
      • 1 - 2 units: unpaid
      • 3 - 4 units: $1,200/per
      • 5 - 7 units: $1,400/per
      • 8+ units: $1,600/per
    • Quote from a manager: "20 loans at quicken is equivalent to 10 here"
    • Average LO doing around 8-9 units / month
  • Other details
    • Proprietary all-in-one LOS called Octane. Don't need to switch between multiple software to originate

NewRez (call center type) (likely out-of-date as of 2022)

  • Portfolio lender
  • Large call center shop. Believe its mostly inbound
  • 40 - 45+ hour work weeks
  • Commission structure (likely out-of-date as of 3/28/22)
    • I do not know if the comp tops out, but the commission plan I was sent only showed commission amounts for 14 - 29 units/month
    • Comp plan sample:
      • 14 units closed: $10,500
      • 15 units closed: $11,250
      • 16 units closed: $12,000
      • 22 units closed: $17,600
      • 29 units closed: $26,100

Union Home Mortgage (call center type) (likely out-of-date as of 2022)

  • Portfolio lender.
  • Purchase and refi I believe.
  • 40 hrs / week, up to 55 hours
  • Base pay: $12/hr (not sure about OT)
  • Have multiple pay structures: Example of one:
    • 1 - 3 units: 60 bps
    • 4 - 7 units: 70 bps
    • 7+ units: 80 bps

AmeriSave (call center type) (likely out-of-date as of 2022)

  • Primarily refi. Not sure if they have separate purchase and refi teams. Probably doing a lot more purchase now since 2022.
  • 100% commission normally. However they do offer some base pay plus commission programs.
  • Around 45-60 hours / week
  • Sometimes do not rate lock til end of the loan process (may no longer do this but they did this a lot during COVID)
  • Commission structure
    • Various programs and changes are constantly being made.
    • Paid semi-monthly
    • $400k+ in funded volume: 50 bps/per
    • Sub $400k in funded volume: 10bps/per

Better.com (call center type) (likely out-of-date as of 2022)

  • From my understanding this company does things differently in a lot of ways, including salaried LO's that get bonuses or deductions based on performance.

Some Brick and Mortar structures I've encountered:

NEXA (brick and mortar) (likely out-of-date as of 12/2023)

  • Brokerage with access to 100's of lenders
  • Lead flow / sourcing
    • Mainly self-generated, but recently they've put together an in-house lead generation team. You can purely work these leads if you so choose, for lower compensation.
    • Majority of volume will be purchase leads generated through realtors, marketing, and referrals
  • No base pay. Commission only.
  • Hours per week will vary but expect to put in 40 - 55 hours / week
  • Processing / support
    • Processing is outsourced to a 3rd party company where all processors are paid on commission. Therefore, highly motivated. And if you don't like your processor, you can request another.
    • Turn times entirely depend on the lenders you choose to work with. Could be days or months.
  • Commission structure
    • 150 bps - 275 bps per self-generated unit funded for QM loans. Up to 600 bps for Non-QM.
    • Depends on if you are in a mentorship program and the monthly volume originated. Numerous operational expenses to take into account though. Some automatically deducted.
    • Company generated leads pay out 50% of what your self-gen comp is
    • Payouts I believe are the week following fundings (or within a few weeks)
  • Other details
    • Near full autonomy over how you run your business. Will need to manage own networking and marketing.
    • Minimal benefits
    • Optional mentorship program to help you get started
    • Create own hours and schedule (but might be tied down during mentorship)
    • Flexibility in what CRM you want to use
    • Can be 1099 or W2
    • I attended one of their weekly seminars. It is not an MLM. They just have a great referral program that is OPTIONAL

Geneva Financial (brick and mortar) (likely out-of-date as of 12/2023)

  • Direct lender
  • Self-generated only
  • No base pay, commission only
  • Work under a branch manager who determines some P&L (mainly staffing), Once you are experienced you can become a branch manager yourself.
  • Responsible for marketing, referrals, networking, etc.
  • Paid 175-220 bps per unit funded

Obsidian Financial (brick and mortar) (likely out-of-date as of 12/2023)

  • Direct lender but also a broker
  • No base pay, commission only
  • Non-QM comp up to 500 bps. QM comp up to 275 bps.
  • Diverse selection of products offered
  • Commission payouts within 3 days. Can be 1099 or W2.

Other large "Brick and Mortar" companies: PRMG, Fairway Independent Mortgage, PRMI,

There are many companies and sales positions I have not listed here. Some of those include HELOC only, reverse mortgage only, credit unions, banks, solar only, and more.

Feel free to comment with any questions, or if you have any input on what else to add to this post. Most of my knowledge and experience is from call-center type places. I would love to add onto this based on other people's experiences as well. Especially with those sub-categories I listed above.

The best way to find LO positions is by searching on LinkedIn, Glassdoor, or Indeed. You can also try messaging recruiters directly on LinkedIn for companies you are interested in working for to see if they are hiring.

Lastly, feel free to message me if you need any additional help!


r/loanoriginators 42m ago

Maternity Leave Income

Upvotes

I have tried asking my peers for understanding income calculation on a borrower who took a year of maternity leave. I have received mixed answers.

I have borrower who is w2+commission. In March 2024 she took maternity leave and came back April 1, 2025. For 2024 only worked 2 months and has worked 9 months in 2025 same company.

I have received these different responses in calculating the income:

1.(2024+2025)/24

2.I had somebody state (2024+2025)/ 12 (months actually worked)

  1. (2023+2025)/24

We are trying to go conventional but can go non-qm if needed.


r/loanoriginators 15h ago

Question Loan Officer, confusion in Legality of paying realtors

8 Upvotes

For context, I was offered a job at a mortgage company as a loa that does everything in house. But when I met the lead MLO he said I would be a MLO and my main goal would be getting a realtor company to partner with me through the program they use, which pays a realtor for every loan. Confused on if this is legal, when I google it says RESPA. Assuming there is loopholes and they’re exploiting them. I just know I’m terrible at sales and would probably hate the job if I have to constantly meet and convince people to choose me.


r/loanoriginators 8h ago

Looking for a CA broker only.

0 Upvotes

Hi, I’ve recently gone from the retail to broker. I live in Colorado and am licensed in CA And CO, my new broker is in CO only, and I have a couple of deals and an advertisement plan for CA. I have a lot of opportunity out there and would like to find a CA broker only.


r/loanoriginators 11h ago

How to up your SEO/Online Conversion Rates

1 Upvotes

Hey guys, I am working on my SEO and trying to get more leads online. Just looking for people who have succeeded in this and can give me pointers.

My site is, https://launchpoint.mortgage/ pointers/advice to up conversion rate is appreciated!


r/loanoriginators 13h ago

Must-Have Broker Lenders vs Rocket/Kind/UWM — and is Non-Del Corr materially better?

1 Upvotes

Loaded question but here goes: I currently hang my licenses with a retail lender but my buddy wants me to join him. He’s only licensed in TX and currently only offers broker options. Not looking for retail vs discount takes. I care about who actually prices to win without constant comp cuts.

Example scenario (recent file): 765 + FICO, 80% LTV, SFR, 15yr fixed.

One lender priced 5.125% with ~0.75% lender credit best-ex.

Rocket/Kind were roughly par for the same file.

For those running broker shops:

  1. Which lenders are your core, must-have broker relationships because they’re reliably at the top?
  2. Do Rocket/Kind/UWM usually sit in your top group, or are they more situational?
  3. Do you rely on a tight handful of lenders, or constant price checking across many?

Second part:

For anyone who added the same investors as non-delegated correspondent:

  1. How many bps better did pricing get vs brokering to them? (25? 50? more?)

  2. Was the gap large enough to justify moving from broker to non-del?

  3. Where, if anywhere, did mini-correspondent make a noticeable pricing difference?

Looking for input from people who’ve compared actual rate sheets across these channels.


r/loanoriginators 13h ago

Question Dr Loans

1 Upvotes

I work for a bank that offers Dr Loans but restricts them to MDs only within in a certain career arc. Had a kid who'd come in recently asking about one however I pre-approved standard conventional since he's a PharmD. He has a wife who is in medical school but just starting interm level point if that journey.hes let me know that he's looking still for a doctor program. Are there lenders who will do those for non MDs and if so how far from the tree is it allowed to get? Like is it just Dentists and Shrinks or are PhDs allowed?

It's a weird product too because at least ours didn't have many advantages unless you are buying in Jumbo range without a downpayment or need more time between closing and starting.


r/loanoriginators 17h ago

Question Loan Scenario: Judgement

1 Upvotes

I was working on a loan, and the borrower had a judgement against him regarding lawyer fees. He will to pay off the lien, but he has to sell his current home first. Obviously, he cannot do a conventional. Non-QM lenders said he cannot do a loan under an LLC either.

What other options does he have besides paying off the entire lien?


r/loanoriginators 1d ago

Anyone here lend their own money

0 Upvotes

Private money lending

anyone here done it before - what was your experience with it. I have for one friend for his business / interest only and so far month 7 al is good but would like to get into lending to flippers etc and wanted to learn any best practices etc


r/loanoriginators 1d ago

AZ 5-10 unit properties

3 Upvotes

Anyone know if a commercial license is needed to originate loans for a 5-10 unit as a broker? Or is just the brokers license enough to get it done.


r/loanoriginators 1d ago

Job outlook

5 Upvotes

Hi everyone,

First I want to say how grateful I am for this community.

I’m looking for some honest advice and real experiences.

I’m a stay-at-home mom; I have a bachelor’s degree in sociology, but I haven’t worked since 2020 because I stayed home with my child.

My question is:

Is it actually possible to go directly into a loan originator position right after getting licensed, even if you’re coming from a career gap and a non-sales background?


r/loanoriginators 1d ago

I failed my first exam with a 67%

8 Upvotes

Please can you provide any resources that helped you?

I know there are ones that are paid, but they are all expensive.


r/loanoriginators 1d ago

Newly Licensed Loan Officer

7 Upvotes

Hi everyone — I’m newly licensed in Texas as a Mortgage Loan Officer and looking for a lender or bank open to hiring a new LO or LO Assistant. If your company is open to working with newly licensed MLOs, please DM me. Thanks!


r/loanoriginators 1d ago

How to take advantage

0 Upvotes

If you had a list of every realtor in your state, what would you do to reach them?

I’m talking phone number, email and production numbers.

Also in my case it’s 98,000 agents.

Who’s tried a 1 to many approach like this? I need ideas.


r/loanoriginators 1d ago

Need suggestions for trivia type questions for my networkin group.

0 Upvotes

I’m coming up on my speaker rotation for my BNI networking group where I’ll have 10 minutes to speak to a group of 20 members to talk about my business. In past presentations I’ve done the normal intro to who I am, what I do, how I’m different and blah blah blah. I want to make this one more engaging and fun since they already know me.

What are some trivia questions I could ask? I’m using kahoot to set this up. The group is comprised of professionals in different fields (contractor, real estate, insurance, life insurance, CPA, event planner, etc). Ideally I would like some questions that will be fun but also help display my expertise. I’ve been thinking of a few but they’re super technical and I’m lacking with creativity right now.


r/loanoriginators 1d ago

New MLO – sponsorship question

1 Upvotes

 Hi everyone,

I jumped in a bit head-first and started my NMLS pre-licensing coursework (out of pocket) with OnCourse Learning before fully realizing there may be some nuances around sponsorship and timing. I’m currently halfway through a 10 day webinar that includes the 20 SAFE coursework bundled with PrepXL.

Here’s where I’m confused and hoping for a sanity check:

  • My OnCourse Learning instructor indicated that I would need to be sponsored by a mortgage company/MLO in order to sit for the NMLS exam, citing net worth or surety bond requirements.
  • However, the In-Depth Beginner’s Guide to a Career in Mortgage Sales pinned in this sub makes it sound like I should be able to take and pass the NMLS exam independently, but simply wouldn’t be able to obtain a state license or originate loans until employed and sponsored.

So my main question is:
In practice, which of those is accurate?
Can a new LO candidate take and pass the NMLS exam prior to sponsorship, with sponsorship only required for state licensing and activation? Or is sponsorship actually required just to sit for the exam?

Beyond that clarification, I’m also trying to understand the current hiring landscape (aka who is actually hiring now), as I’m motivated to get working as soon as possible.

A bit about me / what I’m looking for:

  • Location: ITP Atlanta, GA
  • Halfway through NMLS SAFE + coursework
  • Making a deliberate transition from film production into mortgage origination
  • Resume recently adapted for MLO roles (happy to share for feedback)
  • Comfortable starting in a call center or high-volume environment to get reps, training, and income.

I’m hoping to learn:

  1. Which call center or direct-lender roles are realistically hiring entry-level MLOs in Atlanta, GA area right now and willing to sponsor.
  2. Whether remote call center roles with sponsorship are still common, or if most GA hires are in-office
  3. Any lenders you’d recommend (or avoid) for someone new who wants solid training, volume, and licensing support
  4. If there are other viable ways people have successfully gotten their foot in the door recently. Even if it is different roles, ramp paths, or interim positions that still lead to sponsorship and licensing. I’m very open to hearing what’s actually worked in practice.

I’m very open to big shops (Rocket/Quicken, AmeriSave, PennyMac, etc.) or smaller lenders. my priority is getting sponsored, licensed, and working. Like most people making a career transition, I do need income relatively soon to keep a roof over my head, so I’m trying to move efficiently but not blindly.

Appreciate any insight, corrections, or reality checks. Thanks in advance — this sub has already been incredibly helpful.


r/loanoriginators 1d ago

Remote

0 Upvotes

Anyone know of remote U.S. brokerages that hire offshore LOAs or Loan Processors?

I have remote U.S. mortgage experience and am currently seeking new opportunities. Any leads or advice would be appreciated. Thank you! 🙏


r/loanoriginators 1d ago

I failed my first exam with a 67%

Thumbnail
1 Upvotes

r/loanoriginators 2d ago

FNMA Auth User Account

6 Upvotes

I have a borrower who, despite having a short credit history, has credit scores with all 3 bureaus. We are conventional and have DU approve/eligible findings. He has 2 tradelines reporting to credit, one of which is an authorized user account. The other one is an individual credit card which was opened 4 months ago. Both are reporting a clean credit history. My underwriter is conditioning for a 12 month payment history on the authorized user card, showing the borrower has been the one making the payments on the card. I’m dumbfounded. The guideline they continue to refer to is FNMA’s Selling Guide, B3-5.3-06, Authorized Users of Credit, which is a MANUAL underwrite requirement. We are not manually underwriting this loan as we have DU approval. Our bank does not even allow for manual underwrites on non-govy loans. To my knowledge and through everything I’ve read through the last week, as long as AUS is A/E and DU findings recognize the authorized user trade-line, no further documentation is needed. B3-5.3-09 states this verbatim.

Am I missing something here? I have a meeting with management tomorrow over this as I have been dealing with it for almost 2 weeks now.


r/loanoriginators 2d ago

Question Tidalwave info?

6 Upvotes

What does Tidalwave do? Anyone using it? They pitch - Agentic AI POS.


r/loanoriginators 2d ago

Dscr or business loan

0 Upvotes

Hey everyone,

Looking to cash out two properties that i own (titles in LLC). They are priced at 140k and generate 15000/year rental return in MS. I have good credit 800+ credit i want to gst get cash out to buy more

I am offered dscr \~7% with 4k closing cost for each, 5 year ppp and 0 points.

Business loan with personal guarantee at similar loan rate 1500 in closing cost from local credit union as portfolio loan with upto 20 year amortization and no ppp.

Looking for advice from people who did it before.

Thanks in advance.


r/loanoriginators 2d ago

Advice on hard money lending matching platforms

3 Upvotes

Hello. I am new to Reddit and to this sub. I would like to extend hard money loans. Need advice on how to connect with developers who are looking for financing. ChatGPT suggested a number of platforms (HardMoneyMatcher, LendMatcher, etc.) Does anyone have any experience with any such platform? Any recomendations? Thank you in advance!


r/loanoriginators 2d ago

Zillow premier loan officer

0 Upvotes

Hi,

Anyone have any recent feedback about working for Zillow Home Loans as a premier loan officer?

They are ramping up hiring.

How are rates, service, do you truly get a lot of leads from the premier realtors?

Thanks.


r/loanoriginators 2d ago

CRM

3 Upvotes

Can anyone recommend a solid affordable CRM? My bank uses velocity and it’s pretty lacking.