Hello Troy,
It's me again, Michelle
). I have decided to go with a company here that does a graduated pay scale for the commission. I am currently working out of the office. I have to generate my own leads, but they do all of the processing. The commission goes from as low as 30% for loans 1-3, 40% for loans 4-6, and then 50% for anything over 6, which I was not that thrilled about the commission structure, but they are going to train me to do processing after a month when I move into the office where the commission structure will go to 50%-70% and they also gave me a lot of materials to get me started and give me a better understanding of the processes.
What I am wondering is, is that I am currently going between two states. I see a lot of business in the state that I used to live in, but the big problem is that the company that I am currently working with is not able to originate in the state that I used to live in. Is it ok to sign up with another company just for the purposes of being able to originate loans in a state that my current company is not able to?
Also, I live in a state that does not require licensing for loan officers. Do you know if there is a standard licensing course that would apply for all the states that require licensing or do I have to go to each and every state that I am interested in, and take their separate course and pay separately for each one of those states?
Thank you so much for your time. I hope that all is well with you and yours. Also, please let me know when your net branch is up and running. Take care.
Michelle