| Q. |
How long have you been in business? |
| A. |
Charles Restrepo, the owner and founder of Landmark Lending Group, Inc. is a licensed attorney in Florida since 1989. His practice is strictly dedicated to all aspects of real estate, including but not limited to the sale and purchase of residential properties, commercial properties, business opportunities, and/or residential and commercial mortgage financing. In addition to his law practice, Mr. Restrepo also owns and operates, Traditional Title Company, Inc., Park Avenue Realty Corp., and Landmark Lending Group, Inc. All businesses are run from one central location, providing for a seamless transaction and better customer service. Our offices currently has 200+ professionals working throughout the State of Florida. We are continuously growing and adding new brokers and issuing branch office designations throughout the State.
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| Q. |
Do you accept both licensed and unlicensed people to join your company? |
| A. |
You recently signed up with the State to hopefully become a Licensed Mortgage Broker. However, we understand that you may not have passed the state exam as of yet. Many of our very successful brokers actually had to take the test several times before they passed it. So, don’t give up. On the other hand, we also have many other people who never did pass the state exam, yet, they have become very successful loan officers with Landmark Lending Group, Inc.
What we are saying is that you do not have to pass the state exam in order to make money in this business. As a loan officer with Landmark Lending Group, Inc., a “correspondent mortgage lender” you do not have to have a state license so as to originate mortgage loans. Don’t let the fact that you have not passed the state exam. yet, slow you down in originating loans. Don’t sit there waiting to pass the state exam and let opportunity pass right by you and let others out there get the business.
You obviously have shown an interest in working in the mortgage business. You have taken the time and money to take a class and sit for the state exam. Don’t let all that effort and momentum go to waste. You can still originate loans; make money, with or without a license. You can always continue to work on getting you license in the meantime while originating loans. Interest rates are only getting higher, the market is getting tighter and mortgage industry experts predict that thousand of mortgage professionals will be squeezed or forced out of this business within the next 12 months. To survive, you have to find every angle possible and not sit back and watch potential loan opportunities go by you. You have to take advantage of the opportunities when the moment they present themselves.
We at Landmark Lending Group, Inc. are successful mortgage professionals doing things differently. We have learned how to reposition ourselves in the face of competition, we have extensive training and personalized support to get you originating loans with or with out a state license. We can show you how to get started, get leads, market yourself, shop loans, price loans, etc.
In order to complete your signup process with Landmark Lending Group, Inc. and start originating loans with or without a state license, you need to complete your signup package and fax the same to us. Upon receipt, your user id and password will be activated and you will be contacted by our production manager to get you started.
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| Q. |
Now that Subprime & BC loans do not exists anymore what programs can you offer? |
| A. |
Subprime or BC ("Bad Credit) loans have only been around for the last 10 years. These loans replaced the traditional FHA loan which basically became extinct as a result of these loans. Many companies today have unfortunately not renewed their FHA certification because of the lack of FHA business and its rigorous yearly requirements. Landmark has met all of HUD's requirements and is a fully approved Title II FHA Correspondent Lender. Landmark has lived thru these market cycles and has positioned itself to maximize its potential during the next wave. As such, Landmark can offer all types of loans from, FNMA, FHLMC, FHA, Non-Conforming & Private Investor Loans.
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| Q. |
I just received my Mortgage Brokers License and I have no experience. Do you require any experience? |
| A. |
No, we do not require any experience at all. You received an invitation to contact us, because you may not have mortgage brokering experience and we are willing to train you if necessary.
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| Q. |
Why do you prefer to hire only new Mortgage Brokers and/or Loan Officers? |
| A. |
Our office has a zero tolerance for fraud and/or misrepresentation. We are not interested in hiring anyone who may have been trained incorrectly or unethically by some other company. Unfortunately, greed and low ethical standards are wide spread in this business. Therefore, we prefer to provide to you our training which we know upholds the highest ethical standards. By doing so, we protect our reputation, the future of our company, as well as protect our individual broker's future. Thus, by hiring only new mortgage brokers and/or loan officers we minimize the risk exposure to our company and to you.
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| Q. |
Do you provide training? |
| A. |
Yes! Yes! Yes! As you already know, we do accept "new mortgage brokers and/or loan officers" to represent Landmark Lending Group, Inc. As such, we are committed to train all new mortgage brokers so that they will be productive. This is not an empty promise! We do not charge you anything for our training and thus the only way we can both make money is to get you trained and originating loans as soon as possible. Our extensive training programs include but are not limited to over 100 hours of various training courses and numerous materials in loan origination, qualifying, sales, marketing, etc. It is our goal to make all this available to you so as make you productive and start originating loans. Aside from the our initial training courses we strongly believe that you should be continually educated so as to stay up to date with new and innovative loan programs, regulations, sales and marketing ideas. As such, we offer various forms of educational materials, courses, seminars, bi-monthly wholesale lender training sessions, and so much more that we are unable to describe here. We are sure that we have more training materials and support than you ever want or need.
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| Q. |
Aside from the on-line training, is there someone I can speak to and/or that will assist me, since I have no mortgage brokering experience whatsoever? |
| A. |
Our unprecedented expansion has led to the hiring of Business Development Executives/Managers. It is the policy of Landmark Lending Group, Inc. that all our brokers will be provided with the highest level of training and support possible. This is only one example on how we stand out from the competition and one of the many resources we provide to our brokers to assist you in your success.
In this connection, each broker will be assigned a Business Development Executive/Manager. It will be the goal of this individual to provide you with information on all of our policies and procedures, products and guidelines, as well as provide any assistance that you may need with pre-qualifications, loan pricing, loan programs, placement, marketing and/or training. Your Business Development Executive/Manager will contact you periodically to inform you of new products, cover any changes in procedures, answer questions and assist you in any way they can. They will also monitor your activity with regard to loan registrations, cancellations, funding and overall performance evaluations.
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| Q. |
Do you provide leads? |
| A. |
Generally, our answer to that questions is, "we do not promise" leads but we do however "provide" leads depending on the compensation program you are under. We do not want to be misleading and be like most of the competition and give you an empty promise. When you join Landmark Lending Group, Inc. you should be independent, ambitious and a self starter. You will be training and working at your own pace and with your own sources of business (i.e. friends, family, other business, advertising, etc.). We do not "promise" leads because we do not want you to join our organization with the expectation that we are going to fill your plate. However, our company does purchase and receive its share of leads and neither the management nor its owner compete with its brokers. On these occasions, we do "provide" the leads we get to those brokers and loan officers whom have demonstrated the competent ability to take a lead and convert it to an originated and closed loan. Therefore, there is the potential of working out an arrangement with you in the near future, however, only after you have demonstrated your abilities.
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| Q. |
What is my commission split? |
| A. |
Regardless of your lack experience, we know that with the training we provide, you will soon become productive and self sufficient. Your commission is as follows: Your commission split on your first three (3) loan transactions will start at 55% for licensed Mortgage Broker's. After the first three (3) loan transactions, your split will be increased to 60%. Higher splits are available for branch offices and volume production on a case by case basis. Your commission splits are based on the total fees collected from the wholesale lender as a yield spread premium, any points, origination and/or mortgage broker fee collected from the borrower. Commissions are based on our "wholesale rates" as we receive them from the lender. We do not "mark up" the lender's rates and pass those rates on to you. Some companies mark up the "wholesale rates" to secretly secure the companies profit and tell you that they will pay you between 70% to 90% split. This tactic makes you less competitive in the marketplace, is unfair to you and deceiving on the part of the company. As such, we provide and give direct access to the lenders wholesale rate sheets to allow you to price your own loans accordingly. What you see is what you get with no hidden costs and/or fees. Don't be fooled by "high split" offers which are merely a sales gimmick.
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| Q. |
I am located in city far away from your main office, therefore, how do I get my training? |
| A. |
Our agents are spread out throughout the State of Florida. As such, all of our training is available to you via the internet. You can receive your classroom education when and where you want, 24 hours a day, 7 days a week, and 365 days a year. All you have to do is, once you sign up with our organization, you connect to the internet, go to our secure streaming web site and receive the same materials and attend the same classroom training as if you were attending the same training class "live". If you have any questions, you can submit your question on our site and get an answer within 24 hours. It is as easy as dropping a VHS tape into your VCR, sit back and learn. Our site is full of audio/video classes from originating loans to closing, sales, marketing and much more. Aside from your initial training to get you going, our site also features our bimonthly presentations from our wholesale lenders whom train you on their specific programs. We also have online live training seminars through our various affiliations in the mortgage industry. Further, our site has, daily mortgage news, information, marketing ideas, forms, samples, etc. Our site is considered one of the most complete mortgage broker training sites available so as to make you productive and keep you above the competition.
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| Q. |
Is there someone at the office that I can speak with in case I have further detailed questions about a transaction? |
| A. |
Yes, our office staff consists of highly trained professionals whom are eager to assist you with your transactions. We know that you are new to the business and initially will need some hands on assistance from one of our staff. We are all eager to provide the support you need, when you need it, so as to assist you in originating and closing loans.
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| Q. |
If I have not finished the training, when can I start originating loans? |
| A. |
You can start your first loan the second you sign up with our organization. We do not want you to pass up any potential customers just because you have not finished the training program. Our staff can assist in directing you on how to originate your initial loans during your training process. As you know, we do not make any money from training, it is when you originate and close a loan that we both make money. Thus, we have a vested interest in training you, making you self sufficient and productive as soon as possible.
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| Q. |
Where do I work from and how does the process work when I am here and your office is somewhere else? |
| A. |
Generally speaking, you are responsible for five major functions of the process. 1. Taking an application, 2. Gathering documentation, 3. Providing a Good Faith Estimate, 4. Analyzing the loan file and 5. Advise our processor which loan program you wish to place your borrower with. Our training will teach you how to handle all these steps as well as how to price a loan, lock a loan and close the same and much more. You will be ready before you know it. As a mortgage broker or loan officer you do not need a physical desk at our facility. You can originate loans anywhere in the State of Florida. There is no need to be present at our facility to originate and close a loan. Most of the time, you will be taking an application at the borrowers home, realtor's office or their place of business. Thereafter, you would overnight the loan application, disclosures and documents to our central office. Upon receipt, we will review the file for accuracy, submit the loan for approval which may be automated, depending on the type of loan, get the loan underwritten, clear conditions and close the loan for you.
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| Q. |
Which wholesale lenders do you work with? |
| A. |
As a result of our flawless reputation in the mortgage industry we have been able to establish various wholesale relationships with many of the nations top lenders. Regardless of how many lenders we have, most of the time we tend to only need a few lenders to cover the full spectrum of our client base. As a result of having the availability of the nation's top wholesale lenders, you in turn can be very competitive and in turn very productive overall.
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| Q. |
Do I have to sign a contract that obligates me to stay for a specific time period? |
| A. |
There is an Agreement which spells out our mutual obligations to each other but it does not bind you to a specific period of time. We are not interested in keeping you here if you do not want to stay with us. Frankly, because of the overwhelming success of our program, the majority of our brokers and loan officers continue to stay with our company. They find that the initial training, support and resources as well as the continuing education we offer is essential to their continued success in this business. Further, most people who have decided to go thru the trouble of getting their mortgage license are professionals and do not abuse our system to get their training and then go somewhere else. Therefore, we find it unnecessary to obligate you to stay.
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| Q. |
Frankly, I am a new mortgage broker, but my long term goal is to set up my own office. Is that a problem with your company and what room is there to grow? |
| A. |
Perfect! Your goals mirror our long term goals. Our mission is to take motivated individuals like yourself, train you in the mortgage business and then make you a management leader so that you can set up your own branch office. We are always granting branch office opportunities to those individuals who have demonstrated competency in the mortgage business, management skills, the highest ethical standards and are willing to succeed to their fullest potential. Branch office opportunities are currently available throughout the State of Florida.
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| Q. |
Okay, I have taken the mortgage course and received my license but I do not know what to do now! I was never taught how to get started, what to do with my license and how do I make it work for me? |
| A. |
EASY! Weigh your options, consider all the pros and cons, don't let yourself get blindsided by empty promises or outrageously high splits. It never works! If you have any questions, please feel free to call us at this point. If you have decided to join Landmark Lending Group, Inc. and take the first step toward your new successful career, then continue on this page. It is our specialty to take brokers and/or loan officers like yourself and help you become productive and/or a successful branch managers/leaders.
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| Q. |
Can I get paid for originating loans before I actually take my state licensing exam? |
| A. |
You recently signed up with the State to hopefully become a Licensed Mortgage Broker. However, we understand that you may not have passed the state exam as of yet. Many of our very successful brokers actually had to take the test several times before they passed it. So, don’t give up. On the other hand, we also have many other people who never did pass the state exam, yet, they have become very successful loan officers with Landmark Lending Group, Inc.
What we are saying is that you do not have to have to pass the state exam in order to make money in this business. As a loan officer with Landmark Lending Group, Inc., a “correspondent mortgage lender” you do not have to have a state license so as to originate mortgage loans. Don’t let the fact that you have not passed the state exam slow you down in originating loans. Don’t sit there waiting to pass the state exam and let opportunity pass right by you and let others out there get the business.
You obviously have shown an interest in working in the mortgage business. You have taken the time and money to take a class and sit for the state exam. Don’t let all that effort and momentum go to waste. You can still originate loans; make money, with or without a license. You can always continue to work on getting you license in the meantime while originating loans. Interest rates are only getting higher, the market is getting tighter and mortgage industry experts predict that thousand of mortgage professionals will be squeezed or forced out of this business within the next 12 months. To survive, you have to find every angle possible and not sit back and watch potential loan opportunities go by you. You have to take advantage of the opportunities when the moment they present themselves.
We at Landmark Lending Group, Inc. are successful mortgage professionals doing things differently. We have learned how to reposition ourselves in the face of competition, we have extensive training and personalized support to get you originating loans with or with out a state license. We can show you how to get started, get leads, market yourself, shop loans, price loans, etc.
In order to complete your signup process with Landmark Lending Group, Inc. and start originating loans with or without a state license, you need to complete your signup package and fax the same to us. Upon receipt, your user id and password will be activated and you will be contacted by our production manager to get you started.
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| Q. |
What is the next step? |
| A. |
If you have decided to proceed to join our organization you will be clicking the link below to proceed. Because, you will be providing personal information during the signup process you will be entering a "secure site" which protects the information you will be providing to us. In order to establish a secure connection with your computer, click on "yes" at the next pop up window so as to authorize and authenticate a secure connection with your computer.
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