Key Takeaways:

• In the housing market with lower interest rates and high home prices, potential borrowers need a level of transparency and simple pricing when working with lenders. 
• Offering a competitive flat rate for underwriting and an affordable success fee lets branch managers streamline the loan origination process for clients. 
• A true P&L model and the freedom to set compensation gives branch managers what they need to earn more and offer a better client experience. 

Lower interest rates have finally arrived. The recent 50 basis point cut to federal funds rate was the first in more than four years. Good for borrowers? Maybe. 

While lower rates may add wind to the sales of would-be homebuyers, home prices are still high. Long story short–it’s a tumultuous market, and those ready to pull the trigger on a new mortgage or refinance need transparency and peace of mind from lenders. 

A loan officer who provides a clear and transparent pricing structure has a leg up right now. They can offer a level of simplicity that makes the lending process easier for clients and themselves. Unfortunately, lenders working for large institutions must base their service on a fee structure they have no control over.  

MortgageRIght offers a solution for branch managers ready to upgrade their client experience and make a mortgage loan officer salary free of earning caps. Our $995 flat underwriting fee simplifies the cost structure for branches and borrowers, ensuring everyone knows what to expect. 

What Does the $995 Flat Rate Cover?

Seasoned loan officers understand the potential hurdles associated with the underwriting and approval process. It’s time-consuming and often comes with a complicated fee structure. Confusion is commonplace for borrowers (especially first-time homebuyers) who don’t fully understand what they’re paying for. 

Streamlining the underwriting process at large banks is difficult. The compliance-heavy environment, bureaucratic system, and high-volume mindset throw a wrench in the underwriting stage of loan origination. Plus, loan officers rarely have close relationships with the underwriters they work with, which isn’t ideal when up against tight deadlines.  

MortgageRight’s $995 flat rate puts transparency and convenience front and center. It makes pricing simple for the borrower and covers the following essential steps in the underwriting process: 

• Loan application review 
• Identity and income verification
• Employment verification
• Credit report and history check 
• Asset analysis 
• Debt-to-income ratio calculation
• Loan-to-value ratio analysis 

Getting all this done with a one-time flat rate saves time and eliminates hidden costs for borrowers. And unlike the large financial institutions, MortgageRight’s branch managers have access to 24-hour underwriting and 4-hour turn times. This is a strong trust-builder that opens the door to repeat business, higher revenue, and a better mortgage loan officer salary. 

Success Fee = Incentive 

Another challenge for loan officers at large banks is caps on their compensation. Rewarding high-performing loan officers is rare and commissions get swallowed by upper management. That’s why burnout and discouragement is so common in the mortgage industry. 

At MortgageRight, branch managers take control of their revenue and compensation so they can make the mortgage loan officer salary they never could with other companies. Our true P&L model gives managers the chance to run their own businesses and make important financial decisions that affect the long-term success of the branch. 

Our model also has a built-in $129 success fee. It’s paid by the client after the loan closes. But why would we do this?

We believe branch manager success and client satisfaction go hand in hand. The performance-based success fee is in place to incentivize efficient service and obtaining client results. Think of it as additional compensation for the hard work and expertise that goes into origination. 

Pairing the success fee with the $995 flat underwriting rate provides clients with a clear breakdown of our competitive pricing. Our branch managers don’t hit borrowers with surprise costs like hidden application or broker fees, and this makes for a smooth origination process.

Our crystal clear pricing also adds to the customer experience, an invaluable benefit in a market conducive to refinance strategies. With many homeowners choosing to refinance multiple times as rates gradually decrease, branch managers have a chance at repeat business. And satisfied clients are happy to pay the success fee again. 

Complete Fee Breakdown

Making the switch from loan officer to branch manager isn’t easy. It comes with some major stressors, many of which are financial. 

“Will I be able to start making the mortgage loan officer salary I need right away? Will my new partner provide the support and transparency required to operate a successful business?”

These are common (and understandable) concerns. 

At MortgageRight, it’s our goal to provide comprehensive support to branch managers. We’ve created a detailed branch fee sheet that gives managers a transparent overview of our less common fees for operational support services like warehouse bank fees, credit report fees, and additional employee health insurance. 

All branch managers have access to their P&L report that breaks down each expense so they fully understand the fee structure. Like their clients, they won’t get hit with unexpected costs. 

One of the unique features of the MortgageRight model is that branch managers aren’t required to use our support services. For example, if a manager prefers to hire their own processor, they have the freedom to do so. This flexibility, along with fee transparency, makes it easier for new managers to get their branch up and running while maintaining the mortgage loan officer salary they need. 

Supporting Excellence

Unlike many of the big banks, MortgageRight recognizes the value of high-performing loan officers. We understand the work that goes into originating loans and are willing to pay more to branch managers who go above and beyond for their clients and maintain high-volume operations. 

Becoming a branch manager for MortgageRight gives you more control over your revenue within a P&L model. You’ll have the freedom to run your branch the way you want with the support you need to succeed. 

Our value-driven mindset allows you to: 

• Set your own margins and build in extra compensation for yourself.
• Earn up to 300 basis points per loan.
• Build a high-quality team and get compensated for your branch’s production. 
• Receive a mortgage loan officer salary on top of your basis points.

In addition to uncapped earning potential, our branch managers get a full benefits package. This includes an employer-matched 401K, life and disability insurance, and medical, vision, and dental benefits. 

MortgageRight also provides managers access to the lowest rates in the industry, innovative products like an Upfront Approval Guarantee Program, HR and accounting support, and a modern tech stack with IT assistance. It’s our goal to make branch operations as easy as possible for managers so they can concentrate on originating loans. 

Finally, high-performing branch managers with MortgageRight don’t have to wrestle with multiple layers of management, another common pitfall at large mortgage companies and banks. This means their revenue and compensation remain with them. It doesn’t end up in the pockets of managers who have nothing to do with their origination process. 

Quality Service, Transparency, and an Uncapped Mortgage Loan Officer Salary

In a housing market full of ups and downs, borrowers need a loan officer who’s a guiding light. Expertise, transparency, competitive pricing, and a simple process allow homebuyers to focus on what matters most–their future. 

MortgageRight’s commitment to honesty and support ensures that branch managers have what they need to close loans and provide an unparalleled client experience. It’s what sets us apart from all other companies in the industry. 

If you’re ready to make the switch to branch management and uncap your mortgage loan office salary, schedule a demo today and learn how the MortgageRight platform helps you thrive.