Mortgage Minders

 

FAQ'S:

1) Q. Why contract processing?

A. Mortgage Minders' staff has years of combined experience in the industry, which helps give you, the broker, a competitive edge. The less time you spend tracking down stipulations, putting out small fires, or explaining to others what needs to be done on files, the more time you have to originate new loans. With in house processors, your job does not stop once the loan is originated. Processors have to be managed and all their decisions have to be answered for. Imagine having more time to talk to more borrowers?


2) Q. How will contract processing benefit my company?

A.
The benefits of contract processing are numerous - but most importantly, Mortgage Minders' will catch potential problems early on so that decisions can be made in a timely fashion thus avoiding the chance of diminishing your relationship with your borrower. Basically, you are gaining a consultative staff proficient not only in processing, but sharing the full responsibility of the sale from start to finish. Best of all, you don't pay anything if your loan does not close and fund!


3) Q. Why Mortgage Minders, LLC over other contract processing companies?

A.
Mortgage Minders is extremely flexible - whether you prefer e-mail status or direct phone to phone conversations regarding your loans, we will accommodate you. Our goal is to keep you informed on a daily basis on the status of your loan. We do so in a non obtrusive manner which allows you to not only stay on top of your pipeline, but to give you the freedom that is essential to a loan officer's increased originations. Mortgage Minders' staff is pleased to speak with your borrowers directly which has proven to be very helpful when the borrower feels more than one person is concerned about their loan. Our job is not considered complete until your loan funds - we will do all that is necessary to help facilitate funding.

Internal Processors vs. Outsourcing
Monthly Cost Comparison
 
1 Employee
Mortgage Minders
Salary
FICA
Benefits
$2,500
$187
$250
$2,937
$625 per loan closed
     
 Office Supplies
 $25
 
 Office Equipment
 $30
 
 Telephone
 $50
 
 Leased Space
 $100
 
 Management Time:    
 (Recruitment, Training,
Supervision, Coaching, Counseling)
x 2 hours daily
x Minimum of $75 hr
$150 x 20 days =
 $3,000
 
     
0 LOANS:
$6,142
$0.00
     
10 LOANS:    
Processor Expense:
$50 Incentive - $ 500
FICA -$ 35
Management Time:
(Same 2 hours)
$2,937

$535
$3,000

$6,472
     
15 LOANS:    
Processor Expense:
$50 each - $ 750
FICA - $ 57
Management Time:
3 hours Daily x $75
$2,937

$807

$4,500

$8,244
     
20 LOANS:    
Processor Expense:
$50 ea - $ 1,000
**
FICA - $ 75
Management Time:
3.5 hours Daily x $75
$4,405
1-5 employees

$1,075
**

$5,250

$10,730
Imagine all the additional loans that can be originated when
your time is freed up!

What can you do with an extra 3 hours per day?

We are sure you will recruit, train and develop loan officers.

More loans, More Money!


***Does not include additional incentives.

The benefits are obvious. Regardless of the size of your office, Mortgage Minders saves you money up front and continues to do so no matter what the volume.

We are doing all leg work to make it happen and you are focusing on new loans and not the day to day headaches of managing a processing person or team.



4) Q. How do I sign up with Mortgage Minders, LLC?

A
Please visit the "contact us" tab on our website, at your request, we can send you a copy of our proposal and fee schedule along with our flyer. We look forward to hearing from you soon.


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