Answers
I am a service rep for a financial services company and I would like to be able to get new clients thru the internet but dont like craigslist. Does anyone have any other places where I could advertise myself?
there's also www.backpage.com. it's like craigslist tho.
www.lendinguniverse.com broker commercial loan mortgage, construction to perm loans, mobile home loan rates, land development loan, construction ...
and what education is required?
Checkout these sites.
How to determine your salary range, a Yahoo HotJobs Site.
http://hotjobs.yahoo.com/salary/How_to_D etermine_Your_Salary_Range__2004421-1719 .html?subtopic=Salary
Here is another site that gives salary ranges by industry.
http://www.salary.com
U. S. Department of Labor Occupational Outlook Handbook.
A good reference material for job hunters.
http://www.bls.gov/oco/
Peace and blessings!
which one makes more?
Both are brokers and can be one of the other or both. Most brokers specialize in certain markets so as to become to become well known for a certain field.
A commercial broker specialize in doing commercial loans such as hotels, shopping centers, motels, warehouses apartment buildings that exceed more than 5 units, and other commercial properties.
A residential mortgage broker specialize in 1-4 unit apartments, single family homes and a hybrid called mixed use properties, where as a small commercial property might also have a living space on the same property.
The earning capacity will depend on the ability of the broker, number of sales that closed and other factors. Does he work alone or have others working for him, or is he on a corporate staff?
Brokers are allowed to hire others to work for him under his license. Since others are working for him he is entitled to a share of what transactions they bring into the office and close.
Since there are a variety of ways of earning it is difficult to determine what each can earn. It is safe to say that one that has others working for him/her will probably make more in the earning department.
I hope this has been of some use to you, good luck.
"FIGHT ON"
Can the broker hold a loan officers license while a commercial loan is in the pipeline. When the loan officer does not want to close with the current company? also, can i move the loan to my new company?
No One can HOLD possession of your license. However, if you placed a loan (submitted it to a lender) under a Brokers license (your being under that one as an individual) and the lender approved the loan, ethically, morally and maybe even legally depending on what you signed when you joined the broker, the loan should close UNDER that broker.
Again, ethically, morally and legally depending on what you signed at the time of employment/contract the broker SHOULD pay you the earned commission.
If the client refuses to take the loan with the OLD broker - that is the client's right. However, the client would then need to reapply through your new broker and get approved from preferably a different lender. You may even need to get a new appraisal since the broker that originally ordered the appraisal will not allow the appraisal to be released.
Sticky situation. My advice, always do the RIGHT thing. If the client will move forward with the deal, trust the broker to pay you and let the deal close. What goes around comes around. I know on commercial deals, commissions are great, proceed with caution. Your license is public record and if you get a complaint - that will follow you in the future.
Hope this helps
I would like to broker a loan for a small business, but I'd like to have a contract in place before I make the connection, just to be safe. I have no idea where to look for a sample contract. Everything I find is for real estate loans, not business loans.
NAR Commends Congressional Action to Extend Higher Mortgage Loan Limits
WASHINGTON, DC -- 10/30/09 -- The National Association of Realtors® thanked Congress for speedy action in passing a congressional resolution yesterday that would extend the current higher Fannie Mae, Freddie Mac and FHA loan limits through 2010. The present loan limits would expire at the end of 2009 and revert to previous lower limits.
"NAR commends both houses of Congress for their quick action in continuing these higher limits during a time for recovery in the housing market and national economy. The higher limits, along with the home buyer tax credit extension, are necessary to keep the markets moving at this critical time," said NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth.
"Home sales have shown significant movement upwards in the past six months and reduced inventory in some segments of the housing market, but not in all. Home purchases in the middle-income and higher brackets have not moved much, and those markets must improve before we can experience a fully sustained housing recovery. These higher loan limits will help motivate qualified home buyers to purchase in those markets," McMillan said.
Business Loans » Blog Archive » Commercial Loans – Cost Effective ...
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...News
Tower Financial Corporation Reports Third Quarter ResultsReuters - Oct 30, 2009
Examiner.comLoan broker fees were $219000, a 12.3 percent increase from the second quarter 2009, due to increased refinancing activity being experienced throughout the GFI Group Inc. Announces Third Quarter 2009 Results; Declares Quarterly Cash NBT Bancorp Inc. Announces Third Quarter Earnings of $0.40 Per Share; Declares Willis Group Reports Third Quarter 2009 Resultsall 1,395 news articles »
Earthtimes (press release) - Oct 30, 2009
The present loan limits would expire at the end of 2009 and revert to previous lower limits. "NAR commends both houses of Congress for their quick action in and more »Seeking Alpha (blog) - Oct 26, 2009
In addition, we had $33 million of commercial loans which moved to non performing loan status during the quarter. Our allowance for loan losses increased and more »Reuters - Oct 28, 2009
This was primarily the result of customers decreasing their balances on lines of credit, the charge-off of a single commercial loan relationship for $3.1Business Wire (press release) - Oct 28, 2009
Under the new program, portions of eligible 504 first mortgages pooled by originators or broker dealers could be sold with an SBA guarantee to third-party and more »