Remote Loan Officer Career Opportunities at GCA Mortgage
Remote Loan Officer Career Opportunities As A Loan Originator Today
The mortgage business has changed since the Great Recession and the Real Estate Meltdown of 2008. The entire mortgage industry went through a meltdown where sub-prime lending came crashing down and never recovered. Mortgage giants Washington Mutual and Countrywide along with hundreds of other mortgage companies closed their doors. Countless mortgage loan originators left the mortgage business and sought employment in other fields. The SAFE ACT was created and launched and countless mortgage rules. New mortgage laws and regulations were implemented and the Consumer Protection Financial Bureau, CFPB, was created. The National Mortgage Licensing System and Registry, NMLS, was created and launched where all mortgage loan originators had to complete a 20-hour pre-licensing course and pass the national NMLS SAFE ACT exam.
All mortgage loan originator candidates were required to pass both federal backgrounds. investigations and state police background checks on states in which they seek to be licensed. Another important requirement of all loan officers who are applying to get their mortgage loan origination licenses is that every candidate needs to go through a credit check. Every state has different credit requirements. Certain states do not put too much emphasis on the mortgage loan originator’s credit scores and credit report while other states will scrutinize a candidate’s credit report and credit score. Every year all mortgage loan originators need to undergo a credit check as part of their license renewal process.
Training A New Loan Officer
Training a new MLO is extremely time-consuming and takes time. A lot of time. The best analogy that I can use is like training a trial attorney. Say a straight-A law school student graduated from Harvard Law School. Now, this recent Harvard Law graduate needs to study to pass the bar so he can get his law license to practice law. After many grueling months of studying, the Harvard Law School graduate finally aces his bar exam Now what? He meets all of the qualifications of being a lawyer with having a law degree from one of the most prestigious universities in the world and with his admission to the bar, he can now practice law and represent clients seeking legal help. But is this new lawyer ready to practice law and represent clients in a court of law? This is the perfect analogy of becoming a loan officer today, especially in the area of specialty we at Gustan Cho Associates specialize in.
Foundation of Becoming a Successful Loan Officer
I have been a real estate investor for over two decades and got my loan originator’s license in March 2012 and have originated and closed thousands of loans. However, I still run into situations where I do not have the answers and have to get a second opinion. I have worked with underwriters and underwriting managers where even they did not have the answers and had to contact HUD, VA, USDA, or Fannie Mae. The mortgage business is a very unique business where there are thousands of guidelines out there. However, every borrower may have a unique situation where the loan officer needs to be creative Over 75% plus percent of all borrowers that Gustan Cho Associates are borrowers who either had last minute mortgage denials by other lenders or were going through a very stressful mortgage process because of one reason and one reason only.
Number One Reason For Stress During The Mortgage Process
The number one reason for last-minute loan denials or major mortgage process nightmares is due to the fact that the borrower was not qualified properly by the loan officer. The pre-approval stage is the most important step in the mortgage process. Borrowers who are qualified properly will have no issues during the entire mortgage process and will not just close their home loans, but will close their mortgage loan on time and with style. One of the two most important emphases placed when working with Gustan Cho Associates is Compliance And Training.
The Reward of Making the Dream of Homeownership a Reality For Families
No matter how many years a loan officer may have been in the business, every loan originated by a remote loan officer will be reviewed and made sure that there are no violations of disclosure rules and regulations. It is not a matter of getting fined by the Consumer Protection Financial Bureau, CFPB, but one mistake can trigger a mess in the entire mortgage process wherein some situations, the whole mortgage process needs to be restarted where everyone has wasted precious time due to an error that someone has overlooked. We have a team player mentality and we all look out for one another. A loan officer who joins our team does not have to worry about being left alone. Management and team members are available 7 days a week to help one another.
Remote Loan Officer Career Opportunities Versus Branch Loan Officer
Many mortgage companies will allow mortgage loan originators to work from their home offices. However, there is a catch. Remote loan officer career opportunities are now available at Gustan Cho Associates. Depending on the mortgage company, they may allow a loan officer to work remotely from their home but may require that the loan officer come to the branch office for mandatory meetings either a few days out of the week or a few times a month.
Remote Loan Officer Positions: The New Normal
Regardless, most mortgage companies do want their mortgage loan originators to be able to come to the branch office and will not accept any licensed loan consultants that are totally remote where they are not able to come to the branch office if the need be. Gustan Cho Associates now has unique remote loan officer career opportunities with qualified leads provided to all new LOs. We offer the support of a great marketing team where we will help you brand your name and promote your services nationally via custom-created informational optimized and backlinked websites with our proven consumer-direct business platforms and realtor referral network.
Remote Loan Officer Career Opportunities at Gustan Cho Associates
Gustan Cho Associates Mortgage is always looking for talented individuals who are interested in joining us as licensed remote loan originators. We are not looking for quantity but the individual quality of the loan officer we want to represent our team. All candidates will be fully vetted via background, financial, and character investigations.
Many of our Borrowers Become Loan Officers
A good percentage of our loan officers at Gustan Cho Associates are prior borrowers of Gustan Cho Associates where they realize the importance and responsibility the loan consultant has. Our LOs are available to all of our borrowers 7 days a week, on evenings, and on holidays. Our motto is that we are not salespeople who sell products. We have licensed mortgage loan originators. Our borrowers are banking on and give us the most private credit and financial information and depend on us making sure that their home loans close and close on time.
Role Of an NMLS Licensed Loan Originator
An MLO represents clients where these clients depend on them. The borrower is not the only person dependent on the MLO but so is the borrower’s family. We are looking for individuals who have been successful in their field and were the best of the best and are now looking for a new career as a licensed mortgage loan consultant.
Experience In Mortgage Loan Origination
Experienced loan originators are welcome to apply with us for Remote Loan Officer Career Opportunities. However, more important than production is how they, as loan officers, treat every borrower and the willingness to adapt to our business model. All calls or emails from our borrowers need to be replied back timely and customer complaints are not tolerated. The borrower is always right and there are no two sides to the story. Education is the key for all borrowers so any question they may have is an important question and there is no such thing as a dumb question. The only dumb question is a question not asked.
Join Our Growing Team Today With our Remote Loan Officer Career Opportunities
If you have an interest in being part of our team, please call or text Gustan Cho at 262-716-8151 or text us for a faster response. Or email at [email protected] There is no cold calling necessary and all new loan officers will be assigned to borrowers who have been qualified for a home loan. We normally have more leads than loan officers to handle them so having a shortage of borrowers for loan officers to service will never be an issue. As long as you have at least one year’s full-time origination experience, we are interested in talking to you. You need the passion to help home buyers realize the dream of homeownership becoming a reality, we like to talk to you about Remote Loan Officer Career Opportunities. We are available 7 days a week to speak to anyone who wants to join our growing national team for our Remote Loan Officer Career Opportunities.
Remote Loan Officer Career Opportunities: What Does Gustan Cho Associates Offer?
5 days of training/orientation at our corporate headquarters in Lombard, Illinois is mandatory for all new hires. All expenses paid; flight, room, and board, plus expenses. A team of 700 plus licensed and support personnel. No lender overlays: By no lender overlays, zero overlays and we go off AUS FINDINGS on government and conventional loans. Full benefits: Medical, Dental, Vision, Life Insurance for employees and families of employees 401k Plans.
Why Experienced Loan Officers Should Take Advantage of our Remote Loan Officer Career Opportunities
In the following paragraphs, we will cover and discuss remote loan officer career opportunities for NMLS licensed mortgage loan originators. A career as a remote mortgage loan originator can be one of the most rewarding and highest paying careers that is available today. Gustan Cho Associates is hiring experienced licensed remote loan officers nationwide.
Benefits of Joining Our Remote Loan Officer Career Opportunities at Gustan Cho Associates
A career as a loan officer is different than any other career in the sense that this job has endless opportunities. The sky is the limit to how successful you want to be. In a way is like having your own business. As time passes and a loan officer closes more mortgage loans their business will expand. In this article, we will cover and discuss Remote Loan Officer Career Opportunities at Gustan Cho Associates.
Remote Loan Officer Career Opportunities at Gustan Cho Associates Helps Loans Officers Market Themselves
One of the greatest benefits of working at Gustan Cho Associates is our in-house marketing department. Loan Officers come in contact with referral partners. Here are examples of referral partners:
- Home buyer’s realtors
- Sellers realtors
- Buyer’s attorneys
- Seller’s attorneys
- Divorce Attorneys
- Bankruptcy Attorneys
- Title company officers
- Insurance agents
- Financial Planners
- Home inspectors
- Other real estate industry professionals
The above list of professionals can be referral partners and can refer potential mortgage loan borrowers to loan officers. Gustan Cho Associates Mortgage Group Marketing Department can co-brand referral partners with loan officers by creating flyers, brochures, mailers, and custom websites and landing pages.
Experience Requirement For Remote Loan Officer Career Opportunities
We do require that remote loan officer candidates have at least one-year full-time loan origination experience with the following financial institutions:
- Mortgage Brokers
- Mortgage Banking Companies
- Credit Unions
- Wholesale Account Executive Experience
Work From Home: Remote Loan Officer Career Opportunities
As a beginner to this business, newer loan officers will need to understand that it will take some time and a lot of hard work to establish themselves and brand their name. Unlike other careers, a career as a mortgage loan originator has no caps on compensation. Many hard-working beginners can easily make six figures their first year and their incomes continue to escalate year after year.
Remote Loan Officer Career Opportunities: How To Launch Your Career As a New Loan Officer
We will be discussing how to launch your career as a licensed loan originator and how to become a top producer in this mortgage blog article. We currently have Remote Loan Officer Career Opportunities nationwide. BUT one-year full-time experience is required. We have an excellent training program for those with at least a one-year full-time experience. A senior mortgage loan officer will be assigned to the new loan officer.
The New Loan Officer Remote Opportunities with our Mentor Program with a Senior Experienced Loan Officer
The first 20 to 30 mortgage loan applications will be worked on together with a supervising senior loan officer so the newer loan officer will know every possible case scenario. Mortgage Loan Officer Career Opportunities hired by Gustan Cho Associates. need to attend a one-week training/orientation through our virtual online training program. Full benefits available: Medical, Dental, Vision, 401k.
Marketing Yourself And Branding Your Name
Marketing is the most important part of any business. You can be the best attorney, realtor, insurance agent, doctor, dentist, a mortgage loan officer in the world but if you cannot get customers, then you have no business. We are one of the most aggressive mortgage lenders in the country with no mortgage lender overlays.
Gustan Cho Associates Has A National Reputation for Being Able to Do Loans Other Lenders Cannot Do
Over 75% of our borrowers are folks who were told that they cannot qualify somewhere else due to their mortgage lender overlays. For example, most lenders have a minimum credit score requirement of 640 FICO to qualify for an FHA loan when the minimum credit score requirement from HUD ( parent of FHA ) is 580 FICO credit score.
Remote Loan Officer Career Opportunities With A Mortgage Company Licensed in 48 States
The higher credit score requirement that is above and beyond the minimum requirements of HUD is called a mortgage lender overlay by the particular lender. Often times the lender that is telling the borrower does not tell them that they can qualify with a lender like us where we do mortgage loans with 580 FICO credit scores all day long. Another common denial by other lenders is debt to income ratio overlays. HUD allows up to a 46.9% front-end and 56.9% debt to income ratio for borrowers on FHA loans.
What Are Lender Overlays?
Most lenders will have a debt to income ratio cap at 45% so many get turned down by debt to income ratio overlays. We do higher debt-to-income ratios mortgage loans all day long. I can go on and on with the various case scenarios. The bottom line is that we have a product that millions of mortgage loan borrowers need and exists and marketing is the key.
Working For a Mortgage Company Licensed in 48 States with Over 160 Wholesale Lenders
You, as a new mortgage loan originator with us, need to let the world know that you are a mortgage loan officer that can do a loan where others cannot. You will only go by federal minimum lending guidelines and have no overlays. A large percentage of our business is from borrowers who got turned down by several other lenders due to their overlays. As you meet more realtors as time goes by, your realtor partners will realize that you are the lender to go to and this is the start of your marketing process and grow your career as a mortgage loan originator.
Start Your New Career With Full Marketing Support
We offer a personal website to all of our new loan officers and our marketing department will help each new loan officer optimize their new website with search engine optimization through blogs, videos, social media, newsletters, and listing their website to over 50 online directories for maximum exposure.
Branding Yourself For Your New Career and Business
Websites will have a Word Press platform where you can write blogs and share them on Facebook, Linkedln, Google, Twitter, email campaign, and other network platforms you may have. As your website ages and has more content, your exposure will increase and a large percentage of borrowers will be from your viewers who will be contacting you from the information and blog articles that are on your website. Your contact information which includes your name, your biography, and the services you offer will all be on your website. Your potential clients will also be able to apply online and you get alerted once they complete the secured online mortgage loan application. Since your audience and target market will be online, you should establish a strong presence of yourself and the products you offer on social media.
Client Reviews And Testimonials
As you close more and more loans, many of your borrowers will become your lifelong friends and will write testimonials about you. Client testimonials are extremely important and many potential borrowers will want to read your testimonials by other borrower clients on the experience they had with you. Any mortgage loan officer can originate, process, underwrite, and fund a borrower with an 800 FICO credit score, 20% down payment, and 40% debt to income ratios.
Helping Borrowers With Bad Credit
Many borrower’s may have prior credit issues, 580 FICO credit scores, unpaid collection accounts, 56.9% debt to income ratios, and recent late payments and may have gone through multiple lenders and were told they could not qualify. Representing these types of borrowers is our specialty and if you can help these type of borrowers, they will appreciate you and will write testimonials and good reviews on major client review sites. As time passes and you close more loans, your testimonials and reviews will increase as well.
Using Flyers And Mailers: Remote Loan Officer Career Opportunities
As you close more and more mortgage loans, real estate agents will be requesting flyers and business cards from you so they can pass them out at open houses or give them to their home buyers. We offer a full 5-star marketing department where we can help you create custom flyers and mailers that already has been approved by our compliance department and is ready for use. It takes seconds to customize the flyers and mailers with your photo and contact information as well as your intended message. You can also add your real estate agent to your flyer and mailers and co-brand the marketing materials.
Remote Loan Officer Career Opportunities: Getting Started
Remote loan officer career opportunities are career positions and are not recommended for someone who is just looking for a job for a year and changing fields. After getting properly licensed, it will take a good year to fully understand the mortgage loan business. Even a mortgage loan officer who is a veteran top producer needs to constantly study the new laws and regulations in the mortgage industry that are constantly changing.
Case Scenario Help Desk
Many mortgage loan officers with over ten years of experience still do not know everything and often times when they get into a unique case scenario, they will need to ask our Loan Case. Scenario Help Desk or do their own research by going through the particular loan program’s guidelines. If you are one of those individuals who want to help people and want to help a hard-working individual, couple, or family realize the American Dream of Home Ownership, this career may be for you.
About Us And Products We Offer
Gustan Cho Associates is a 5-star mortgage lender with no overlays on government and conventional loans licensed in 48 states. Gustan Cho Associates empowered by NEXA Mortgage, LLC has over 160 wholesale mortgage lenders we are partnered with. There is no shortage of mortgage loan products at GCA Mortgage. Gustan Cho Associates has no lender overlays on FHA, VA, USDA, and conventional loans. When I say we have no lender overlays, I mean we have ZERO OVERLAYS on government and conventional loans. Only go off AUS FINDINGS. We do not have any overlays so as long as the mortgage loan applicant gets an approve/eligible per Automated Findings. We close all of our pre-approvals.
Remote Loan Officer Career Opportunities: We Close On All Of Our Pre-Approvals
All pre-approvals are full credit approvals signed off by our mortgage underwriters. Over 75% of our borrowers we close are folks who could not get a mortgage loan approval due to that lender’s overlays or borrowers who changed over to us due to stress in the mortgage process. Minimum credit scores for a 3.5% down payment home purchase FHA Loan is 580 FICO. Minimum credit scores for Conventional Loans are 620 FICO. Unpaid collections do not have to be paid off as per FHA lending guidelines. We can do loans with judgments and tax liens as long as the borrower has had a three-month payment history and a written payment agreement with the creditor. We do manual underwrites at Gustan Cho Associates.
Remote Loan Officer Career Opportunities: Types Of Loan Programs Gustan Cho Associates Offers
Gustan Cho Associates, empowered by NEXA Mortgage, LLC NMLS 1660690 offers The Following Loan Programs:
- FHA loans
- VA loans
- USDA loans
- Reverse mortgages
- Conventional loans
- Jumbo loans
- Reverse mortgages
- FHA 203k loans
- Non-QM 90% LTV jumbo mortgages
- Condotel loans and non-warrantable condominium loans
- Loans For Foreign Nationals
- Special Loan Programs such as non-QM Loans and Bank Statement Loans for Self Employed Borrowers
- Escrow Advance On Refinance Loans
- One Time Closing Construction Loans
- No-Doc mortgages
- Stated income mortgages
- Fix and flip loans
- Homes for heroes
- Doctor’s loan programs
No Cold Calling Required: All Of Our Loan Officers Will Get Clients Assigned From Day One
Mortgage Loan Officer Career Opportunities With Leads Provided From Day One. Due to the demand for our no mortgage lender overlay mortgage products, we are currently aggressively hiring experienced loan officers and brand new loan officer recruits. Unlike other mortgage companies, none of our licensed mortgage loan originators cold call or buy leads from mortgage loan lead origination companies. Every one of our licensed loan officers will be assigned to mortgage loan applicants from day one. As long as you want to keep busy and are willing to work, you do not have to wait for your phone to ring nor have to go knocking on doors. Most of our licensed loan officers have a full pipeline of mortgage clients.
How Do I Apply And Get Started
If you have decided that a career as a licensed mortgage loan originator is for you, the first step is to contact me at 262-716-8151 or text us for faster response. Or email us with your contact information and resume at [email protected] We will have a phone interview and once we determine we will be a mutual fit, then the licensing process starts. Loan Officers who were exempt from licensing due to working at FDIC financial institutions need to go to NMLS LICENSING and get licensed. Once you get your NMLS ID number, you need to register and complete a 20-hour NMLS Approved pre-licensing course.
Need To Be NMLS Licensed and Current on CE Courses
I can recommend you to several schools or you can find a school of your choice online. Once you complete the 20-hour pre-licensing course, you then need to take your federal NMLS federal exam, which is a three-hour, 125 question examination and receive at least a 75% for a passing grade. Once you have passed your federal NMLS examination, you can then apply for your mortgage loan originator license for the state or states you want to originate loans in. We, as a company, are licensed in 48 states with our goal being to be licensed in all 50 states. The federal NMLS test will enable you to get licensed in most of the 50 states. Part of the licensing process includes both a federal criminal background examination, state criminal background investigation, and credit check.
Getting Sponsored By Gustan Cho Associates | NEXA Mortgage, LLC
Once you are cleared, you will be sponsored and will receive your credentials which include your corporate email address, access to a corporate computer network, credit bureau logins, Fannie Mae and Freddie Mac Automated Underwriting System, and other important and private logins so you can originate loans from wherever you are at. You will receive one-on-one training and the first 20 to 30 files you work with will be with a senior mortgage loan originator. You will not be alone and will be working with a team. We have a family atmosphere and every new recruit is treated as a member of the family. If you want to get started, contact Gustan Cho Associates at 262-716-8151 or text us for a faster response. Or email us at [email protected]
Benefits and Career Advancement with our Remote Loan Officer Career Opportunities at Gustan Cho Associates
Guaranteed bi-weekly draw. Guaranteed leads: These leads are fully qualified borrowers with completed 1003s and docs. All full-time loan officers will have assigned Loan Officer Assistants (LOA). All our pre-approvals are full credit approvals signed off by our mortgage underwriters. Competitive rates. Top compensation plans. Alternative Financing Loan Programs: NON-QM Loans, Bank Statement Loans, Condotel & Non-Warrantable Financing, Down Payment Assistance Programs in most cities and counties. Please contact Gustan Cho at Gustan Cho Associate Associates today at 262-716-8151 or text us for a faster response. Or email us at [email protected] There are countless talented loan officers who do not have leads. We guarantee you that we can keep you busy 7 days a week, 365 days a year. We have more qualified borrowers than loan officers. Check out our Zillow Reviews:4
Read our reviews below and apply to work with us!!