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					                        Realtor Loan Originator Team Program

Increase Your Personal Income
On Every Home You Sell
Current RESPA legislation allows Realtors to act as a loan originators and receive compensation
for originating mortgage loans. You can originate loans on your sales transactions as well as
refinance or purchase loans where you are neither the listing agent nor the buyer’s agent.

No Licensing or Testing
As an employee of UHMC you will be able to legally originate mortgage loans under our Florida
Correspondent Lender License, thereby avoiding the need to personally become licensed as a
mortgage broker, or pass the state mortgage broker license exam. You would be required to be
paid as an employee and will be provided with a W-2 at the end of the tax year.

No Monthly Fees
You will not be asked to pay a monthly fee of any kind. You will not be charge for pulling credit
reports in connection with the mortgage. A one time $75.00 setup fee would be required.

Bilingual Support
I will support you every step of the way, from pulling a credit report, pre-approval, application,
loan structuring, placing, pricing, and processing. The work required form you is minimal. I will
meet with you and your clients in your office and assist you in explaining the loan process to your
clients and work to close the loan in a timely manor.

Free Mortgage Marketing Materials
Upon request you will receive personalized marketing materials for your open houses. These
materials are professionally designed and contain up to date mortgage news and information.
Spanish language materials are available.

Access
You will be given access to our system via the internet which includes your personal UHMC email
address, the latest version of Calyx Point, up to date mortgage information and news, mortgage
marketing assistance from top professionals with years of experience in the mortgage industry.
Access to over 150 lenders with thousands of loan programs to choose from. Access to our
offices is available, but not required. You may work from home or from your current broker’s
office as you see fit. If you wish 24/7 access to one of UHMC’s offices, a $50.00 key deposit
would be required.

Compliance
The Florida Division of Finance Department of Financial Regulation and other regulating bodies
require that mortgage loans comply with strict guidelines. Files will be thoroughly reviewed
before they are submitted to any lender and again at closing before they are submitted to UHMC
for commission disbursement. No commissions would be dispersed for non-compliant files.
After files are submitted, they will be again reviewed by the UHMC compliance department. Once
the file is found to be compliant, commission checks will be disbursed, the file will then be stored
as required by law. You will have access to the stored files electronically through the UHMC
system.

As your group leader, I will be with you every step of the way assisting you with the mortgage
loan process or you may introduce me to you client as your mortgage consultant, I will take the
application and explain the entire process to your client. I will always maintain that YOU are the
loan officer and I am your mortgage consultant.

For more information please contact Nelson Velasco 786-301-0299, I’m always available!!
                        Realtor Loan Originator Team Program

Requirements
As a loan originator you will be required to have minimal participation in the mortgage process.
Below is an overview of what is typically perform by the Realtor loan originator.

  1. Discuses general mortgage options that may be currently available to the borrower. (verbally)
  2. Be present when taking the application. (application is usually taken over the phone, I will
       review and print the application and disclosures)
  3. Sign the application and other disclosures. (can be done in your office or borrower’s home)
  4. Disclose the fact that you are the Loan Originator. (Conflict of Interest Disclosure is included in
       the disclosure package)
  5. Collect supporting documents. (normally faxed directly to processing)
  6. Notify the borrower of any issues that may arise during the process. (verbally)
  7. Notify the borrower verbally of their approval. (verbally)
  8. Assist in scheduling the closing. (verbally)
  9. Attend the closing.

The Approach
Once you have a buyer in contract or ready to pre-qualify, you can introduce me to them as your
loan consultant, I will reach out them on your behalf. I will introduce myself as your loan
consultant and begin the course of taking the application and gathering the necessary information
to complete the application, pull the credit report and develop a strategy for structuring the loan.
Alternatively, if you feel comfortable taking the application yourself, you are more than welcome
to do so. When we are ready to proceed I will review the application and disclosures before we
print them and meet with the borrower(s) for signatures. We can meet with the borrower in your
office or in the borrower’s home. The borrower must sign the disclosures and application. The
loan originator must also sign the application, broker business contract, truth in lending disclosure
and several other disclosures. From this point on the loan is said to be “in process” no further
action is required by the loan originator at this time.

Processing
I will order the appraisal, title work, homeowner’s insurance or condo questionnaire as required. I
will request any supporting documents from the borrower and loan originator as required. I will
communicate directly with the lender and other third parties. I will submit the loan to underwriting
and clear any outstanding conditions.

Closing
When the time comes for closing I will notify you and the borrower and we can schedule a date,
time and place where the closing will take place. I will attend the closing barring any scheduling
conflicts with other closings.

Post Closing
I will collect the UHMC check and a copy of the executed closing package from the title company
and integrate it into the file. I will review the entire file several times before it is submitted to
UHMC compliance department. If any document needs correction I will meet with the borrower or
loan originator for signatures as necessary. I will then submit the file to UHMC.

Commission disbursement
Once the file is cleared by the compliance department checks will be ready by Friday of the
following week.

NOTE: According to new FHA guidelines, licensed real estate sales professionals are explicitly
forbidden from originating FHA insured mortgage loans.

				
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