No More Big Commissioned LO's

In 1966 when I started in the business it was with a 60 year old nationwide multi-billion dollar organization whose procedures were long-established. After 2 years of OJT plus formal training also, and for the entire 13 successful years I worked there, I managed, hired, and trained several hundred people the ‘company way.’ In 1979 When I left and opened up my own company – which I operated about 2 decades – I continued with many of the same formulas to do things, since it was all I knew! I closed it down (in large part because I got Cancer); subsequently operated as a consultant to owners of mortgage brokerage and mortgage banker firms, then opened up my own nationwide mortgage training school in cyberspace plus local face to face sessions as well. As both the consultant (which I still am BTW) and certified State licensed teacher, I taught those various processes, methods and techniques – which by then had almost a hundred years worth of experience working perfectly well.

Let me sum up one of those for you today: You can be shown how to hire what you would call a ‘processor’ with ZERO industry experience and/or contacts. Train her/him how to be both a processor and a 'junior underwriter'. Then take that salaried Promise Keeper utility individual and show them how to explain the available various loan programs to potential applicants, an activity you would call being a Promise Maker ‘LO’ – all on salary with a modest bonus here and there (buh-bye big gagging/choking commissions).

The result of this technique is you can control your payroll with the salary/bonus concept, saving the hundreds of thousands of dollars you would have otherwise wasted by paying it over to commissioned LO’s (that business model gained favor in 1998 - it's run its course now). With that huge savings, you can spend it on various advertising/marketing programs and buy yourself a couple of new Ferrari’s like I did.

Want to learn how?