This blog at Gustan Cho Associates will cover the MLO revenue share residual income career opportunity at NEXA Mortgage, LLC. Founded in July 2017 by CEO Michael Kortas, NEXA Mortgage, LLC is hands down the fastest growing largest mortgage broker in the nation. NEXA Mortgage, LLC is the nation’s largest and fastest-growing mortgage lender.
What is this MLO Revenue Share Residual Income Career Opportunity program? You will find out how under the leadership of CEO Mike Kortas,
NEXA Mortgage, LLC, founded with less than ten employees, now has over 2,000 licensed mortgage loan originators and is licensed in 48 states, including Washington DC, Puerto Rico, and The U.S. Virgin Islands. This type of growth is unheard of. Regarding qualifies of newly licensed loan officers to look for, they are positive, energetic, well-spoken, consistent professionals with a strong foundation. In the following paragraphs, we will cover MLO revenue share residual income career opportunities at Gustan Cho Associates.
How Does MLO Revenue Share Residual Income Career Opportunity Work?
We will show you how Michael Kortas is the Thomas Edison of the Mortgage Industry and how you can join the MLO Revenue Share Residual Income Career Opportunity program.
NEXA Mortgage also has a Realtor / MLO Revenue Share Residual Income Career Opportunity joint licensed program where the real estate agent is a licensed mortgage loan officer who can make commissions on both sides of the transaction.
The real estate agent makes a commission on the home purchase transaction PLUS, since the realtor is also a licensed mortgage loan officer, the agent will be paired up with a veteran, experienced loan officer where the MLO will take the file from application to closing. In this article, we will cover the realtor / MLO revenue share residual income career opportunity program.
How NEXA Mortgage, LLC Was Created
To paint a clear picture of the MLO Revenue Share Residual Income Career Opportunity, we need to give you how NEXA Mortgage, LLC was born and the man behind building the fastest-growing and largest mortgage broker in the nation in less than five years. Due to the way, CEO Mike Kortas structured the MLO revenue share residual income career opportunity program, the program is stronger than ever, comments Bill Burg of NEXA Mortgage, LLC.
By the way, we have high earners from the MLO Revenue Share Residual Income Career Opportunity program but remember one thing. These high-earners have job security and consistent monthly revenue share for life. For Life? YES.
You must know about the man behind building this life-changing foundation for loan officers behind NEXA Mortgage, LLC. For the first time in the history of the mortgage business, mortgage loan originators can now earn residual income like insurance agents. In the following paragraphs, we will cover and discuss the MLO Revenue Share Residual Income Career Opportunity with NEXA Mortgage, LLC. We will show you how to make six monthly figures with a product that sells itself.
Mortgage Brokers Licensed In 48 States
Licensed in 48 states with a lending network of over 210 wholesale investors, NEXA Mortgage, LLC, CEO Kortas had a vision and dream he wanted to accomplish. Why do insurance agents get financial security with the benefit of getting residual income for every customer they sign up with and loan officers don’t?
NEXA Mortgage, LLC has the states, the mortgage loan products, and the lowest rates. NEXA Mortgage, LLC has the winning formula that out beats every competitor in today’s market place.
What if NEXA developed a system where mortgage loan originators would have a similar system where loan officers can make a consistent residual income, month after month, year after year, and call it the MLO Revenue Share Residual Income Career Opportunity at NEXA? One thing, Kortas thought.
How Long Does It Take For The MLO Revenue Share Residual Income Career To Take Off?
It takes decades for insurance agents to make a six-figure residual income sufficient for them to retire comfortably. Mike Kortas’ vision was not only to create a residual income system similar to how insurance agents earn from the insurers they sign up, but he was going to crush it. Numbers do not lie.
If the loan officer decides to retire from the mortgage industry and travel the world, the residual income is guaranteed for life. In the unfortunate event the MLO passes, the NEXA MLO revenue share residual income is transferable to the MLOs’ heirs. NEXA Mortgage, LLC is only five years young.
The million dollars revenue share earners did not reach the million-dollar per year residual income mark for decades. The product at NEXA sells itself. And we will walk you through step by step on giving you any information so that you will decide whether you want to join us at NEXA Mortgage, LLC and take your career to the next level.
How Do Mortgage Loan Originators Get Paid?
Loan officers work very hard on loans from application until closing. They get paid a fraction of the overall yield spread premium to the company. Depending on the comp plan, the MLO has an agreement with the company once the deal is closed. When is the chance the borrower will do another loan, either by purchasing a home or refinancing their existing one that just closed?
Three to five years from the closing date? Ten years? Thirty years? Maybe never. Zero residual income. Without residual income, the loan officer needs to keep hustling for new clients by making contact with potential new realtor partners.
Loan officers must keep their pipeline full with various marketing strategies such as buying leads, cold calling, meeting new real estate agents, social media campaigns, etc. Mike Kortas saw a vision so clear he knew it was a given and needed to launch in creating NEXA Mortgage, LLC and the MLO Revenue Share Residual Income Career Opportunity. On July 2017, NEXA Mortgage, LLC was born with less than ten employees in Chandler, Arizona.
Why NEXA Mortgage?
CEO Mike’s vision was not just a pipeline dream that most people often fantasize about and talk out of their asses, but a vision that many in the mortgage industry often asked themselves hundreds if not thousands of times over and over again.
Now, there is nothing guaranteed in life, but by asking the right questions and doing research you should be able to determine a realistic productivity rate for anyone you connect with.
Why not create a mortgage company for the loan officer to take their talent and hard work to the next level? CEO Kortas, like many of us licensed loan officers, asked why loan officers work so hard to get a loan to the closing table, and there is no residual income like insurance agents.
How NEXA Mortgage, LLC Grew From 10 Loan Officers to 2,000 MLOs in 5 Years
This blog will discuss best practices for recruiting business professionals and how they could impact your revenue share with NEXA Mortgage, LLC. The revenue share program offered by NEXA is a great way to earn residual income.
Once you have decided to dedicate time and energy to the revenue share program, you should come up with an additional business plan. There are certain factors that should be included to ensure your success.
Factors such as setting goals, developing a call to action, and implementing the proper steps to achieve your goals are imperative to succeed. The executives of NEXA established the program to disburse the company profits to employees rather than it being shared with top executives like other companies. It is not a requirement to participate in the revenue share program. However, it is available to entrepreneurs who choose to build their portfolios and establish an additional source of income.
WHAT IS THE TYPICAL CANDIDATE TO FOCUS MY RECRUITING ON
First and foremost, what is your goal? In my approach to the revenue share program, I aim to recruit at least ten producing loan officers within the first 45 days and 60 producing loan officers within 120 days. What is a producing loan officer? My expectations I look for a licensed loan officer who will write at least two loans per month.
There is also the option of recruiting newly licensed mortgage loan officers. There may not be statistical data to show past success seeing as they are newly licensed, so you will have to evaluate them differently.
Let’s consider a house since we are in the real estate industry. When the house is built, the foundation is the most important part. Without a solid foundation, the house will not be safe. When comparing that to new loan officers, it will likely prevent them from sustaining long-term success if they do not have a solid foundation.
Is The MLO Revenue Share Residual Income Career Opportunity Available For Brand New Loan Officers With No Experience?
Oftentimes, the best recruits come in as newly licensed loan officers. There is an old saying, “ positive attitudes bring positive results.” I am a firm believer and choose to live daily by that concept. A very successful mentor and dear friend once said, “wake up in the morning and tell yourself today is going to be a great day.” When you get ready for bed at night, “think of something positive from the day to be thankful for and always find a way to be better tomorrow.”
Loan officers with experience are also great candidates to recruit. When you are recruiting experienced professionals, it is very common for the process to take slightly longer. Most people who are already established within the industry and many people in life for that matter hate change.
With that mentality, I often prefer to recruit newly licensed loan officers. Because NEXA is committed to building successful loan officers, they offer a training program called NEXA Academy to train newly licensed loan officers. Combining the vetting process with the training offered, it is possible your recruit will become a rock star within the industry.
HOW DOES THE REVENUE SHARE PROGRAM WORK
As I previously mentioned, the NEXA revenue share model was established by NEXA executives to share company profits from the top down rather than having them isolated to the top executives within the company. The revenue share program is not required but is optional for all loan officers employed by NEXA.
For those to choose to participate, the revenue share program can be very lucrative. Each person is allowed 3 tiers of partners to bring on. Typically each tier is eligible for 20 new recruits which will allow a total of 60 recruits. The sponsoring officer will receive a 10 basis points commission on all productivity for each recruit they bring on.
The compensation is paid by the third week of the following month, so, for example, for all products a recruit does in September, the commission will be paid to the sponsoring loan officer by the third week of October. Another amazing benefit of the revenue share program is the residual income will be provided as life benefits for the sponsoring officers’ families.
WHAT ARE THE BEST PRACTICES FOR RECRUITMENT
As in all aspects of business and life, what works for one person may not work for another. However, in this section, I will provide some best practices to help you recruit and build a powerful downline. The most important thing when it comes to recruiting is your approach. When talking to other business professionals, it is imperative to present yourself with a sense of confidence and positivity. Along with confidence and positivity, knowledge is key.
Know the market you are recruiting in and know why your company, in this case, NEXA, is better. I always refer to the “if I could would you approach” which was ingrained into me from the early days of being in the automotive industry. In recruiting, I have to tweak it a little but the same concept applies.
With the knowledge of the market and what NEXA provides, it is very easy to ask someone, “Mr. Smith, if you could double your comp per file would you be interested in hearing more?” In today’s times, most of your recruiting avenues are done through social media. LinkedIn and Facebook are the two platforms I use primarily.
Marketing Your Professional Brand
Make sure your social media profile is clean, clear, and welcoming. I highly recommend avoiding anything to do with political affiliations, religion, or any other outlet that may create controversy. Your profile pictures and cover photos need to be professional and should show what industry you are in.
In my case, I promote Mortgage Lenders For Bad Credit, which is my brand and an affiliate of Gustan Cho Associates. You want to create posts that show factual data along with success stories and motivational quotes, which will start to build credibility for you and your page. Once credibility is established, it is good to make posts that will engage others to comment on your post. There you will begin to communicate with professionals and start to build relationships.
The last part of social media networking is creating advertisements. It is the quickest way to reach a large audience. Speaking of networking, using your sphere of influence is a great way to meet people.
Why NEXA Mortgage, LLC is a One-Stop Lending Shop
The competition never sleeps, is the saying at NEXA Mortgage, LLC. You always have to stay ahead of the competition. For some people, social media advertising and marketing generally come easily.
Fortunately, once you have the attention of experienced loan officers, the culture and business model of NEXA sells itself. With the ability to be licensed in 48 states nationwide and having over 210 wholesale investors along with industry best compensation plans, joining NEXA Mortgage becomes a “no brainer”!
They work directly with realtors and loan officers daily, helping them build their businesses in multiple ways. You never know how the next person you meet can affect your life. Stay focused, stay consistent, and be confident. The last bit of advice for recruiting is joining a business professional group. Through those experiences, more doors will open, and you will have to know which ones to walk through and make the best out of every opportunity.