Just by YOU reading this. And due to the great leadership that our Nation has that supports FREE ENTERPRISE. TRID WASN’T designed to help big mortgage companies make more money. Especially Banks. Technically, TRID is more forms signed by a client, so that increases the money spent on compliance to enforce that. With an LO, it’s easier to BROKER a loan than even set up a Correspondent relationship with any lender out there. And NOW, your disclosures are just as the same as bankers. You could even hire and employ others. Including all the tax advantages of being self-employed.
TRID actually LEVELED THE PLAYING FIELD for the loan originator that owns his own shop versus who is at a bank. The LE now is the same for the rate shopper. There is no need to disclose Broker’s commission on that initial disclosure. And with Banks you will not be paid as much “per loan”. Hence why YOU a WJ Bradley employee should OPEN your OWN Mortgage Broker shop. If the big companies have to do more to ensure you’re in compliance then take advantage of it as a “Third Party Originator”(TPO businesss) in their eyes. More and more LO’s already are.
In fact, at one point prior to the mortgage melt down, the overall total TPO origination versus bank originated mortgages was basically 50/50. And due to the melt down, the amount of TPO origination fell to as low as 6 or 8% of overall mortgage volume. However in the more recent few years, the Broker business is growing again. As a result of TRID, more and more Broker shops are opening again and that is a movement that has already been in play since around 2010. The small change in disclosures from the GFE to the LE makes another boost in this direction. RIGHT NOW is a GREAT TIME to START a SMALL BUSINESS.
If you respond to my article in the ask for help, I would be happy help develop a full marketing campaign to help launch your company. I HAVE a ton of Broker’s that come to me to help them develop everything from LOGO’s to company cards. To slogans to marketing campaign’s to drum up business. I will personally help you start your company. Reach out to me, I am the Mortgage Juiceman, and I support the BROKER BUSINESS OF SMALL TOWN USA. I also help Brokers get approved to do business even when new. So even if that’s you out there reading this now, I’m that refreshing voice supporting you a NEW BROKER OWNER. And would love to help you grow. Start with THE MORTGAGE JUICEMAN PAGE
Call me if your looking for a true business and marketing partnership to help you help others to get a piece of the American Dream. In fact my Broker Packages are FREE this month. You can too get a piece of the American dream of owning a business. Call me and I’ll even give you a signed copy of my book free of charge, that will help you get started. Persuasion as an Art
Sell Well – JUICEMAN