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Hey, you! Yeah, Mortgage Loan Officers...

Are you lookin for...

  • More freedom

  • More products

  • More opportunities

  • More support

  • Guidance on how to become a mortgage broker?

If it does, you’re in luck! Discover the power of practical steps, dynamic workbooks, and versatile templates on our portal. Enrich your knowledge with our courses and vibrant community or take a giant leap and partner with us to operate your very own mortgage brokerage.

Discover the benefits of owning a mortgage business.

Schedule a no obligation call to learn about growth opportunities.

The Mortgage Industry is Facing Tough Challenges

You know that:

The mortgage industry is a dynamic landscape, but recent trends have presented some unique challenges for loan officers. Here are just a few of the hurdles you might be facing:

Rising Interest Rates

Fixed-rate mortgage rates have climbed significantly in 2023 and into 2024, surpassing 7%* for a 30-year loan in some regions. This increase can make homeownership less affordable for many potential buyers, potentially impacting your origination volume.

*According to the Freddie Mac Primary Mortgage Market Survey (https://www.freddiemac.com/pmms)

Shrinking Inventory

There has been a continued trend of low housing inventory with
with homes often receiving multiple offers and selling quickly above asking price. This fierce competition can make it difficult for buyers to secure a property, further impacting your pool of potential clients.*

*According to The National Association of Realtors (https://www.nar.realtor/infographics/existing-home-sales-housing-snapshot)

Increased Competition

The Mortgage Bankers Association (MBA) reports a significant increase in the number of licensed mortgage originators (MLOs) in recent years.. This saturation in the market can make it even tougher to stand out and attract clients, especially in a time of lower loan volume due to rising rates and low inventory.

Increased Regulation and Compliance Requirements

The mortgage industry is heavily regulated, and these regulations seem to be constantly evolving. Staying compliant can be time-consuming and require ongoing education to ensure you're meeting all the latest requirements.

What Are Your Options?

Charing a course through today's mortgage market.

The landscape of the mortgage industry is constantly evolving, and the challenges you face today may not be the same ones you encounter tomorrow. Feeling the squeeze of rising interest rates, low inventory, and a more competitive environment is perfectly understandable. So, what options do you have to navigate this dynamic market and thrive in your career?

  • The Constant Churn: Jump from lender to lender, chasing temporary benefits but lacking long-term stability.

  • Going Solo: Freedom and control, but requires significant effort and risk to build a business from scratch.

  • Build Your Dream: Partner with a proven brokerage. Gain independence, access resources & support to launch & grow efficiently.

Have You Considered Being a Mortgage Broker?

In 2022, independent mortgage brokers originated approximately 35% of all mortgages in the United States. This market share is expected to continue to grow in the coming years, as more and more borrowers seek out the personalized service and expertise that independent mortgage brokers provide.

Mortgage Broker vs. Mortgage Banker

Mortgage Broker

A mortgage broker is an intermediary who connects borrowers with lenders, offering a variety of loan options from different financial institutions.  Mortgage brokers do not lend their own money, which therefore reduces the risk of the products they offer.

Mortgage Banker

A mortgage banker works directly for a specific financial institution, such as a bank, credit union, or mortgage company. They sell and promote loan products offered by their employer.  This can create efficiencies, but lenders have to watch the risk levels they expose themselves to.

Extensive Lender Network

Brokers provide access to a wide range of lenders, allowing you to shop for the best rates and loan options for each client. This flexibility is crucial when finding unique loan products, especially for borrowers with non-standard financial situations.

Limited Loan Product Offerings

Bankers offer a focused selection of loans from a single lender or parent company. This streamlined approach allows for efficient processing and may be ideal for borrowers with straightforward needs. However, customization options might be limited.

Flexibility in Commission Structure

Brokers compensation can be structured in various ways, allowing you to prioritize factors like loan volume or competitive rates. This flexibility can be advantageous when tailoring your approach to different client needs

Higher Commissions and Higher Customer Rates

Bankers compensation structures may offer the opportunity to earn more per loan closed. However, keep in mind that loan options may be limited, potentially affecting your ability to secure the best rates for clients.

Partner Driven Success

Brokers typically Rely on established lender relationships, brokers may have significant control over loan processing speed and team selection. However, this requires experience and careful lender selection to achieve the same level of control and efficiency as an in-house model.

In House Processing

Bankers Loans are typically managed entirely within the company, potentially leading to faster processing times and greater control over who handles each step. This can ensure consistency, but may limit flexibility in handling unique borrower needs.

Calculate Your Potential Earnings as A Mortgage Broker

Use our calculator to project your potential mortgage business income.

Pro's and Cons of Becoming a Mortgage Broker

The Pro's

  • Unlimited opportunity

  • Low initial investment & start-up costs

  • Lower risk of failure opening with a book of business

  • Extensive network of other brokers

  • Complete control over your business

Becoming a mortgage broker offers unlimited opportunity, low start-up costs, lower risk, a supportive network, and complete control over your business. Now, let's explore some key considerations..

The Con's

  • Limited access to structured support

  • Lacks simplistic all-in-one system for organizing your pipeline and the banks you work with

  • Steep Learning Curve of running & owning a business

  • It is 100% on you

Is Opening a Brokerage Right for You?

5 Questions to ask yourself

Book of Business

Do you have a consistent book of business that you can leverage to launch your mortgage business with?

Self Accountability

Can you accurately calculate the volume of business you need to leverage from your existing client base to ensure a thriving mortgage brokerage and ensure you can meet those goals?

Proper Support

Do you have a reliable and experienced operations team (or a strong individual) in place to handle the essential administrative tasks behind the scenes if you will spend time originating?

Knowledgeable Network

Do you have a supportive network of experienced mortgage brokers to share best practices and troubleshoot challenges?

Investment

Is there an investment you can make in your future that will help you save time, money & mistakes as you start on your journey?

Already Know That Opening A Mortgage Brokerage is Your Next Move?

Join the elite with the Mortgage Broker FastTrack, the game-changing online program revolutionizing your journey to owning a thriving brokerage in just 90 days! Unlock the secrets to a seamless launch and exponential growth with our step-by-step master blueprint, all taught by the finest industry mavens. Don't just dream—dominate with us.

Embark on a transformative journey with our meticulously crafted course and program. Follow a designed timeline and roadmap, immerse in engaging lessons, access exclusive resources, and forge your unique model. Our unwavering support is yours—we're here to guide, resolve your queries, and steer you towards success.


If you would like to learn more and check out our confidential webinar that shows you the behind the scenes details on how to get started. We host regular webinars and you are welcome to join any one of them. This is 100% free training and no payment is required and it is also confidential.

The LAB: Community, Fast Track Course, and Commercial Access

If you’re ready to take your career or mortgage brokerage to the next level by enrolling in The Lab, simply choose your payment option. You can pay monthly or annually.

$249

USD/monthly

Save 10%

$2689

USD/yearly

Not Ready to Own and Operate Your Own Mortgage Brokerage?

Instead, choose the right brokerage to work for.

The right brokerage can be the key to a fulfilling and lucrative career in the mortgage industry. Don't worry if launching your own brokerage isn't quite on the horizon - joining a supportive team offers a rewarding path as well.

Finding the perfect fit is crucial. The ideal brokerage should be more than just a paycheck; it should empower you to thrive. Imagine a work environment that not only makes you feel comfortable but also equips you with all the necessary tools and guidance. A good brokerage will guide you through the intricacies of building a successful mortgage business, making the initial steps less stressful and more exciting.

Key Questions for Brokerage Selection

Given the long-term impact on your career, choosing the right brokerage deserves careful consideration. To help navigate this important decision I'll share several key questions to ask brokerages you are considering joining.

1. Compensation Structure and Earning Potential

  • "How does your commission structure work, and what is the average earning potential for experienced loan officers like myself?"

  • "Are there any bonuses or incentives for exceeding performance goals?"

2. Support and Training

  • "What training and development programs do you offer to help your loan officers stay ahead of industry changes and regulations?"

  • "Do you have a dedicated support team to assist with processing, underwriting, or other back-office tasks that allow me to focus on client relationships?"

3. Technology and Resources

  • "What technology platforms and tools do you provide loan officers to streamline the loan origination process?"

  • "Do you offer marketing resources or support to help me generate leads and grow my client base?"

4. Culture and Team Environment

  • "Can you describe your company culture and what it's like to be a loan officer here?"

  • "Do you encourage collaboration and knowledge sharing among loan officers?"

5. Bonus Question

  • "Can I speak with a few of your current loan officers to get their perspective on working here?"

What Do Our Clients Think?

"I've been wanting to leave retail for a while now. I finally did it when I learned about Mortgage Broker Fast Track. It's amazing. My only regret is that I didn't get it sooner."

– Ken Travis, Porch Light Mortgage

Still Have Questions?

If you're are still unsure about how Co/LAB can help you or what path is best for your future in mortgage click the button below and schedule time to talk to our team.

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