Starting a Mortgage Broker Business?

Got my Calif Real Estate Broker License. Going into business with an agent and want to offer mortgage brokerage services. My question, how do you go about setting up connections with wholesalers and lending agencies? If I have a client, how do I go about finding the lender that fits their need? Thank you in advance for your answering this query.

6 Answers

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  • Anonymous
    1 decade ago
    Favorite Answer

    hello, here's an easy

    link with info and offers on mortgages:

    http://finance.ebookorama.com/

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  • 1 decade ago

    You can hire Eros21, or you can work with me - no payroll (LoL). You're the type of client I do work with - every single day! Contact me or check out this website: http://www.mortgageservicescenter.org. Highly recommended.

    I provide back office support for brokers who are just getting into loan origination or opening their mortgage division - if they've been in the real estate sales side of the business.

    Quick tip: You don't sell the borrowers to lenders. You sell lenders' programs to borrowers. This concept will make it easier for you to glide through the industry - survive the times, as you may call it. No, it's not too late for you to get in this business because this profession is cyclical.

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  • Anonymous
    1 decade ago

    I went through the same ordeal as well. It's hard to find "A" paper lenders if you have no experience and are new. Your best bet is to look in the Penny Saver for subprime lenders and fill out a broker application for every lender. In fact, any lender you come across, fill out a broker application. Broker apps are usually availble online at their website.

    Also, if you know any friends who are mortgage brokers or come into contact with account reps of lenders, your application usually gets accepted with the referral. For example, I came across a rep for Flagstaff when I attended a Calyx Point training course. Because of my conversation with her, she gave me an application and told me to who to submit it to so it gets approved.

    Good luck!

    Regards

    Source(s): Satar Naghshineh satarnag@amirifinancial.com www.amirifinancial.com California Licensed Real Estate Broker and Investor
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  • 3 years ago

    no longer understanding the place you reside, i will make it easier to comprehend what's needed for my state. you are going to be able to desire to have not any under 5 years adventure interior the private loan origination agency. you are going to be able to desire to document for a license (and instruct a funds reserve of 50K). as quickly as you receive your license, your waiting to start generating loans as a private loan broking service.

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  • 1 decade ago

    Your a little late to be going into this market or haven't you heard.

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  • Anonymous
    1 decade ago

    hire me and i'll tell you

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