Basic Opportunity Comparison

Background and Thoughts - from William Bronson

Gateway Mortgage Group Breaks the Mold

These days there are a ton of pop-up mortgage companies, especially internet based call centers. I take clients away from these companies every day and, occasionally, save loan officers from them as well. The Gateway business model is second to none. You can choose your own processor and program. We have multiple options for a changing work force. Our online LOS system is our latest innovation. You can access and work on files from any computer, with internet access, from anywhere in the world.

With Gateway Mortgage Group, you call the shots. You get the business, banker or broker it, manager your own P&L. All of this with our guidance and help, when you need it. If you’re a little rusty about some of the processes, we can help. You are never alone unless you choose to be.

"A seasoned Gateway branch manager is among the most competent in the industry. Our company, by its very nature, produces some of the nation’s top mortgage professionals. I refer to a career with Gateway as graduation for loan officers. When you come to us with a decent pipeline you quickly learn the process while earning a great living. It’s like being paid to get your masters or doctorate degree. We master lead sourcing and cultivation, application interview techniques, program investigation and placement of our clients into the best scenario possible, and following up with a completely compliant loan package for payroll. The company pretty much does all of the tedious things we don’t want to do. They take care of payroll, auditing, housing the files, compliance, educational updates, etc. You can plug in and be a big part of things at Gateway or you can be alone. You can recruit, train, and manage loan officers or you can stay independent. You have a big hand in how your career develops. It’s all up to you."

Commission Split?

Gateway Mortgage Group extends 100% commissions on Banked as well as Brokered loans. Our Branch Partners are charged a per loan fee based on schedule below.

NEED TO INSERT THE IN NETWORK/OUT OF NETWORK FEE SCHEDULE HERE

In Network Lenders are:
Gateway Mortgage Group LLC

Out of Network Lenders are:
Any other of the 200 plus wholesale companies we currently have set up.

There are no other hidden charges or additional fees. Here is an example.

Based on funding  a total of 1 loan for the month on the In Network

You Collect:

Origination/Mortgage Broker Fee         = $1400.00
Processing Fee                                  = $350.00
Application Fee                                  = $250.00
Yield Spread Premium                        = $2800.00

The total fees that you collected are $4,800.00. Gateway would assess a transaction fee of $399.00.  You keep the rest.  That means that on a loan where you made $4,800.00; we paid you $4,800.00 and deducted a transaction fee of $399.00, which leaves you with $4,401.00.

This $399.00 covers our overhead costs such as accounting, monthly audits for compliance, licensing, etc.  We are able to keep our fees low because of the large amount of volume our branch partners produce.

If this deal was your 11th funded loan for the month on In Network you would only pay 199.00 per loan which means this deal would have paid you 4631.00!

Based on funding  a total of 1 loan for the month on the Out of Network

You Collect:

Origination/Mortgage Broker Fee         = $1400.00
Processing Fee                                  = $350.00
Application Fee                                  = $250.00
Yield Spread Premium                        = $2800.00

The total fees that you collected are $4,800.00.  Gateway would assess a transaction fee of $699.00. You keep the rest. That means that on a loan where you made $4,800.00; we paid you $4,830.00 and deducted a transaction fee of $699.00, which leaves you with $4,101.00.

This $699.00 covers our overhead costs such as accounting, monthly audits for compliance, licensing, etc. We are able to keep our fees low because of the large amount of volume our branch partners produce.

If this deal was your 11th funded loan for the month on Out of Network you would only pay $399.00 per loan which means this deal would have paid you $4431.00!
 
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If you’re one of the many loan officers tired of the problems with your existing company, You’re not alone!
We’ve been fortunate to attract new loan officers, leaving unorganized, poorly managed companies, to our established team.

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Complaints we’ve heard about existing mortgage employers:
"They were withholding my commission!"
"I seldom got return phone calls"
"They had a lack of funds and held back my production!"
"They lost their FHA/ VA approval"
"They had junk fees and payroll deductions"
"Suddenly, they were out of business"
"Their service was horrible"
“Is a $10,000 holding account really necessary”?

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Benefits of working with us:

• 100% split
• Banker or Broker - your choice
• No need to disclose YSP - on bankered products in most states.
• Online virtual office full of support resources
• You have total control over loan placement and processing
• Free online loan origination software and training
• FHA/VA
• Freedom to work from home
• The advantages of being independent with the support of a national company
• Relationships with hundreds of lenders
• Personal mentor to provide you with extra support 
• Payroll bi-weekly
• Get paid like a branch manager without the hassle and overhead of opening a commercial office.

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