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Local Business  » Mortgage Brokering as a Freelance Business Opportunity

Mortgage Brokering as a Freelance Business Opportunity

In the mortgage business there are two foundational areas of

involvement. One is the position of "loan officer," the other is

working as a "broker." The loan officer for the most part earns

from what is called "personal production," which means you are

earning from what you are able to personally produce by bringing

mortgage business into your employer's office. In some cases you

may be paid a base salary and/or draw, but then you will be paid

less in commissions by the company (broker) you are working for.

The second - and most potentially lucrative for you - area of

involvement is the broker. Most people start out in the mortgage

business by working as a loan officer, gaining experience and

expertise, and later they consider opening their own shop by

becoming a broker. This can be frustrating for the broker who is

training loan officers, because they are continually losing

their best loan officers and creating their own future

competition.

The broker hires, spoon feeds and trains their loan officers and

pays them a commission out of the profits they receive from the

lenders with whom they work. As the loan officer begins to learn

the business they obviously start thinking about leveraging

themselves through the efforts of others so that they can earn

from the production of others as the broker does.

~ The mortgage business is currently experiencing re-definition

by new leaders in the industry who are breaking old traditional

earning models. ~

Within the last few years new leaders in the mortgage industry

have been breaking the old traditional earning models, and have

created revolutionary new approaches which allow just about

anyone to build a business in the mortgage industry with very

little knowledge or experience. Beginners are now able to make

more money - in less time - with less effort!

In the past you would have started out as a loan officer -

generally with a bachelor's degree in finance, economics, or a

related field, and earned $30,000 to $50,000 a year. You then

worked locally where the broker who hired you was licensed to do

business. For the most part your income level would have been

limited until you gained enough experience to open your own shop.

The downside of this was that even when you advanced to becoming

a broker yourself, you also took on the financial liability of

running a business. Opening a local mortgage brokerage can often

be very costly, along with the many additional liabilities that

go along with hiring, training and running payroll.

New approaches to the mortgage business now allow you to build a

mortgage business of your own where you call the shots and your

income is not solely dependent on your own personal production.

Here are just a few of the new advantages...

* You can now earn on mortgage business on a national level.

These new business models now allow you to operate under a

"branch license" so you can do business just about anywhere.

* You have the ability to immediately leverage yourself. You can

earn commission overrides just like a traditional Mortgage

broker can. This means that you can build a national team

throughout the United States and earn from their activity.

* No major investment - Instead of investing thousands of

dollars in franchise fees you can get started typically for

around $200.

* You are able to tap into proven business models that will help

you teach and train your unexperienced loan officer recruits.

How much money can you make?

Let's compare the traditional model of earning only from your

personal production with the model of introducing this concept

to others and being able to leverage yourself:

The following will give you an example of what you would earn If

you based your earning level on personal production at three

different commission earning levels. The following are based on

a hypothetical $200,000 mortgage.

One House per month Commission paid out 30% $1,050.00 Earned 64%

$2.240.00 Earned 70% $2,660.00 Earned

Two Houses per month 30% $2,100.00 Earned 64% $4,480.00 Earned

70% $5,320.00 Earned

Let's look at this a different way that shows the power of

leverage where you are not depending entirely on your own

personal production. The following example assumes that you are

earning 64% from two personal loans a month and are earning from

the personal production of five others who are doing just one

loan each per month.

Personal Production 64% Earning Level Your personal earnings -

$4,480.00 Loans From 5 Others Who Are At The 30% Level Your

earnings from their production - $5,950.00

Total Earnings For Month - $10,430.00

As you can see, it really is to your advantage to immediately

involve others in the business. Your personal efforts along with

the combined efforts of others can really produce some exciting

numbers, in this example over $125,000 a year in income! The

exciting thing about this is that you are not limited to just

five people, you have the ability to grow a very large income

very quickly.

Positive Points

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1) You don't have to wait until you're experienced, you can

start right away.

2) You are not limited to earning from the efforts of just five

people, your earnings can come from as many personal recruits

that join your business.

3) You can earn from the personal efforts of those you recruit

as well as the people they themselves introduce to the mortgage

business!

4) Your earnings can be generated from other team members

throughout the United States representing every conceivable city

you can think of or have never heard of.

Am I beginning to get your attention yet?

By now your mind might be flooded with additional questions. One

prevailing question might be...

"There are already many people in the Mortgage business, how can

we compete?"

To be perfectly honest, many people who are approaching the

mortgage business with old worn out models are finding it

difficult to survive, while companies and individuals who are

embracing these revolutionary new concepts are exploding in

growth.

In the USA, the housing market has been booming, but now it is

leveling out or even shrinking in many areas. Most of those

homeowners would love to save on their mortgages now, and their

need is likely to increase if the market keeps going down. There

are some very creative mortgage services available online, with

some research you can make a very good offer to your customers.

If you want a real, tangible business that you can run from

home, using the Internet, this is a good one to consider. Spend

some time searching the web and reading up on this and I think

you will find the information you need, and some good groups who

will be happy to help you launch yourself into this business.

It's a win/win. You will be helping others at the same time that

you build a long-term income and a business to be proud of, for

yourself. www.worlddomainhosting.com/

About the author:

specializes in helping new, aspiring and existing businesses

around the globe. As an Entrepreneurial Consultant that has

lived and worked in various countries around the world he has

been able to assist many companies and entrepreneurs that were

seeking to start, change or expand their business. Currently, he

is focusing his efforts on his family and the upcoming birth of

'the twins' while still assisting entrepreneurs world wide.