Job Details
INTRO/ABOUT
If you are interested in exploring an entry level position in the mortgage industry this is your opportunity. Trulo Mortgage is a fast-growing start-up mortgage brokerage seeking motivated individuals who want the ability to set their own income where there is truly no cap on earning potential or upward mobility within the company.
In the beginning your primary role will be outbound sales calls to online inquiry leads. We do not cold call, all the leads we reach out to have inquired directly with us about one of the loan programs we offer. We do all marketing in-house to ensure lead quality and full control of lead flow.
You will be reaching out and speaking with prospects who have inquired about a loan for an investment/rental property long term financing, fix & flip/rehab, hard money or bridge, commercial property, and ground up construction loans. All of the loan types we currently offer are business purpose loans, primarily on 1 4-unit residential properties, we do not currently focus on or offer consumer purpose loans. (Investment property loans can be considered business purpose loans even if on residential property). All property types are eligible and other than 1-4 unit residential we also focus on 5+ unit multifamily, mixed use and commercial properties. (retail, office, restaurants, strip mall, etc.)
An ideal candidate will have studied or is currently studying one of the following fields or similar in college:
Finance
Business Administration/Management or other business fields
Economics
Communications
Accounting
Marketing/Sales
Other related fields are NOT excluded from consideration. For those still in school, part time will be an option until school has been completed. A college degree is NOT a requirement for the position.
ROLE DETAILS
The initial 60-120 days will be training on our loan programs, systems and processes, etc. While you are training you will learn how to initiate the sales process with prospective borrowers. You will be paired with a Sr. Loan Originator (LO) who you will transfer the interested and qualified leads over to. The Sr. LO will train and mentor you, as you work with them to guide leads to the finish line and learn in real time. Once you are fully trained and ready to take on leads, you will be promoted to Loan Originator and able to take leads from start to finish throughout the loan process. This promotion will result in a commission per file vs a bi-weekly draw.
Once you have developed within your position as a Loan Originator and a certain pre-determined production threshold has been met, you will be promoted to Sr. Loan Originator. As Sr. Loan Originator, you will receive a per file commission increase and be eligible to build a team around you, including sales assistants, Jr. s, openers. (This will all be determined by production and the individual LO s capabilities.) You will also be eligible for promotion to Team Lead or Sales Manager, which will involve the ability to train, develop, and oversee your own team of LOs. The sky is the limit at Trulo, where you are truly entering at the ground floor.
COMPENSATION
The pay will always be a draw vs commission. The draw will be $700-$1000 weekly (depending on experience, qualifications, degree, etc.) The per file commission as a Loan Originator will be 30-50% of gross revenue per loan (depending on tier, lead source etc.) The average per file commission is around $2,400 per loan. An average originator can do 4-5 loans per month. (YES even in this market with our marketing). Above average can do 5-10. Top Producers can do 10+ deals per month. The pay of $200k per year on the listing is really just a placeholder as the income will vary drastically from individual to individual. A top producer can definitely make more than $200k/yr.
Also, working with investors, the more you originate, the more it creates a domino effect of your clients coming back for more transactions, as many of the borrowers are constantly buying new investment properties and adding to their portfolio or doing new fix and flips.
QUALIFICATIONS
- DISCIPLINED AND SELF-STARTER
- COMMISSION ORIENTED- as a Loan Originator your income will be tied directly to the revenue you bring in for the business. There is no limit to the income potential a Loan Originator can make. Which is why it is one of the highest paying job roles in any industry for the top producing LOs.
- ACCOUNTABLE- take extreme ownership where wrong, willing to acknowledge where improvement is needed.
- SELF-DEVELOPMENT ORIENTED- the ideal candidate is someone that is also interested in self development in all areas of their life.
- LONG TERM- CAREER BASED GOALS- those who are interested in the position solely for the purpose of making a lot of money need not apply. You don't need to love every aspect of the industry, but you will have to have a certain level of interest and enjoyment in the work being done. Otherwise you will burn out soon and waste your time.
- ETHICAL- We do not condone any practices such as misleading or lying to clients, etc. We only work with team players.
- ADAPTABLE- The mortgage industry is an ever-changing industry. Loan product guidelines, marketing campaigns, interest rates, loan program offerings, wholesale lenders, etc. are always changing. The ideal candidate understands this and is excited about the ever-changing landscape, as opposed to a monotonous or complacent company or industry. On top of this, Trulo is an ever-evolving, rapidly growing start-up. You will see the company evolve and assist with it s growth and development, as well as have the opportunity for unlimited growth within the company at a much faster rate than your typical business.
- EXCELLENT AND PROFESSIONAL WRITTEN AND VERBAL COMMUNICATION SKILLS
- ABILITY TO MULTI-TASK, ORGANIZE, AND PRIORITIZE WORK
Those who do not meet the above need not apply. You do not have to come perfect by any means. We will take those seeking greatness and guide them. Those seeking a comfortable regular job with a comfortable base pay or salary who are not production/commission motivated need not apply. We are only seeking those who would like to evolve to Top Producers, as well as become experts in sales and mortgage. As well as those who would like to evolve to a leadership position.
By applying, you understand that many candidates will not make it in this role, few will excel, and as a result have unlimited earnings potential as well as the ability to evolve to a leadership position within the company (if desired - not a requirement.)
Any further details or questions will be discussed on the initial introductory call.