Mortgage Loan Officer

Groves Capital, Inc.; United States; Remote; USD 60,000 - 120,000; Full time

Job summary

An established industry player is seeking motivated Mortgage Loan Originators to join their team. This role offers the flexibility to work from home while providing a comprehensive suite of loan products. With competitive commission rates that you can adjust every 90 days, you have the opportunity to significantly increase your income. The company prides itself on quick underwriting and no monthly costs for systems, ensuring you can focus on what you do best: closing loans and providing excellent service. If you're looking to take your career to the next level in a supportive environment, this position is perfect for you.

Benefits

Flexible Work Hours

Commission Structure

In-house Processing Support

Qualifications

• Candidates should have a valid state mortgage license.
• Experience in the mortgage industry is preferred.

Responsibilities

• Work independently to increase income from home.
• Manage and grow your pipeline of mortgage loans.

Skills

Mortgage Loan Origination

Sales Skills

Customer Service

Education

Valid State Mortgage License

Job description

1 week ago Be among the first 25 applicants

Get AI-powered advice on this job and more exclusive features.

Direct message the job poster from Groves Capital, Inc.

Company Overview

We are a family-owned and privately operated company looking to expand. We are looking for Mortgage Loan Originators (MLOs) who want to work independently and significantly increase their income from home. Ideally, candidates should currently be in the industry and ready to grow their pipeline. Please note that a valid state mortgage license is required to join our company.

Loan Options and Competitive Edge

We provide a comprehensive suite of loan products, including:

• FHA and VA Loans: Accepting credit scores as low as 500, with rates comparable to traditional loans.
• Conventional Loans: Debt-to-Income (DTI) ratios up to 49%.
• Non-QM and Commercial Suite: A variety of options including bridge loans, ground-up construction, rehab, DSCR, bank statement, and we are always adding more!

Additional Benefits:

• No overlays on loans.
• Lowest mortgage insurance rates in the county through our wholesale investors.
• Quick underwriting within 24 hours and regular clear-to-close in 7 business days.
• NO monthly costs for your systems.
• Competitive pricing with low company margins to ensure you, and the company, remain competitive.

Compensation Structure

• Commission Rates: You choose your compensation in your contract on our NDC channel and it's adjustable every 90 days to meet changing market conditions. You can go as low as 0.5% or up to a maximum of 2.75% per loan, depending on your preference. This is your take home value. For example, if you choose 2% in your contract then you will make 2% of the loan amount on your fundings - no deductions or caps
• Compliance: To remain compliant, the maximum compensation is set at 2.75%, but you may opt to lower your compensation to attract more business without charging the client. The drop down is set at 1.25% - this is your take home value and you can use this option as needed
• Broker Fee: Our broker fee is never deducted from your commission earned and is baked into the pricing on our correspondent channel.
• Processing Fees: In-house processors handle your files for a flat fee of $795 or $595
• NO caps on commission.

Payment and Support

We issue payments twice weekly and provide a 1099 at year-end (We can also pay your entity directly if you prefer that) I am available to schedule a phone appointment to answer any questions you may have and discuss loan scenarios. I can also provide raw pricing information, highlighting the significant spread that banks, credit unions, and other brokerages retain while you do the work.

States We Serve:

AR, AZ, CA, CO, FL, IA, ID, IL, IN, MD, MI, MN NE, NJ, OH, OR, PA, SC, TN, TX, VA, WA, WY

For more information, please reach out to:

Email: [e-mail]

Phone Number: 858-204-8245

Website: www.Grovescapital.com

Seniority level

• Seniority level

  Entry level

Employment type

• Employment type

  Contract

Job function

• Job function

  Finance and Sales

Referrals increase your chances of interviewing at Groves Capital, Inc. by 2x

Get notified about new Mortgage Loan Officer jobs in United States.

Northstar Mortgage Loan Processor and Loan Officer Assistant

Dallas-Fort Worth Metroplex $80,000.00-$120,000.00 6 days ago

New York City Metropolitan Area $60,000.00-$80,000.00 1 week ago

CML Loan Closing Officer II -OPX (Remote)

VP SBL Loan Closing Officer III (Remote)

We’re unlocking community knowledge in a new way. Experts add insights directly into each article, started with the help of AI.