How to Save Money and Start Growing Your Business
Contract Loan Processors work on a per File Basis. They are paid when you are paid as a Loan officer or Broker. Contract Loan Processing allows flexibility allows the Lender, Originator, or Broker flexibility. If there is a spike in Volume, the Contract loan processor can step in to help and take the overflow. If there is a down month in volume and you have less closings then normal, then you don’t have much overhead since your Contract Loan Processor doesn’t have a salary. Contract Loan Processors also don’t have benefits and you don’t have payroll tax. Contract Loan Processing can also be paid at the closing table on the Closing Disclosure by the consumer. That way, the Broker, Lender or Loan Officer can receive their full commission payout and reinvest in their company to growing their business.
Contract Loan Processors don’t need training when you bring them on board. They are already licensed and knowledgeable and know what is needed to close loans for you. The Contract Loan Processor more than likely has already worked with many of the same lenders you are working with and already know the ins and outs of the system and lender to help you close more loans. Contract Loan Processors already have their computer, phone and email set up. You don’t have to spend time getting them a computer, phone, email, credentials, etc that normally goes into a new hire and then can reinvest in the company to begin growing their business
Contract Loan Processing can be a great benefit to many Loan Originators, Brokers and Lenders in many different ways. Please contact us at Priority Processing Mortgage Group to find out how we can help you close more loans on time, every time and help start growing your business.