Questions & Answers

 

Do you offer support?   Yes, we train you daily on our telephone conference call each day at noon EST. We provide you step-by-step instructions on everything you will need to do. Our training manual is 200 pages. You will have virtually everything you will need to learn the business. This is the fun way to do the mortgage business, because you will quickly learn that people get excited about this product. You will learn the business & we will support you in your marketing!   How well do Reps. perform?   That depends entirely upon you. We have something to offer that is in high demand. By specializing in this niche product, you will become known as the expert in your community. You will be pleased by the excitement it creates.

Do you hire new people that have no experience?

Yes. unfortunately it is difficult to break into this business, unless you have a couple of years' experience. Loan brokers and banks do not have the time to train new people just to have them move on. There are huge liabilities with rate locks, mistakes and complicated programs. We have simplified the process and specialized in this one product and will train you to become an expert in your community. You will be able to understand and master this plan very quickly under our system and we have no rate locks. We also do much of the backroom work for you. We work as a team and help you with the paperwork. We are selective and only want hard working and positive people in our program.

Do you provide training?

Yes, if you can follow simple instructions, you can master this job. Since we specialize and focus on this one product, you will become extremely knowledgeable in a short period of time. No previous experience is necessary.  We provide you with a 200 page training manual and complete starter kit, thirty conference call classes on cassette tape, and access to our famous live 30 minute training teleconference call class held each weekday at noon EST time. In class, you can ask questions and hear what works for other agents around the country. We also provide an ongoing private mentor program by phone and email.

We started this business in 88' and for the last five years have specialized in this one loan. I have it on my home and Robert in my office has it on his home. He has also specialized in this one product the last four years.

We answer our own phones and are always available to help you and your prospects. We even do three way calls with your prospects. Since we are talking to each client, we will make sure that the loan package is presented properly and that the highest standards are met as far as quality control. In a short period of time, you will become an expert in your community on this specialized product. One loan a week is very realistic and top reps can do three or four. We pay on a W-2 basis.

How do I get leads?

Leads are everywhere! The product is unique. Many people have a built in market, but if you don't, you will quickly learn that leads are on every corner. I recently wrote a client that referred me to three new loans, simply because I asked for his help. Everybody in his family wanted the "Cash Flow loan".  More cash in hand is a concept that everyone understands. It captures peoples' attention, because who do you know that wouldn't want to reduce their payments by approximately 45%?

Methods of promoting our business have been accomplished by word of mouth, fliers in newspaper boxes and on door steps, mailers, inserts, telemarketing business to business, take one cards, fliers on public notice boards, and referrals from Realtors, accountants, attorneys, builders, friends and neighbors. We teach the best methods in class and exactly what works from experience. We have separated ourselves from the crowd with this product. This product is with the #1 lender in America and has been around for over 15 years. To understand the product, it is vital that you read www.cashflowloan.org in detail. We are on a mission to educate the American people on a better way of doing a mortgage. Look at the slide show and listen to the audio and use the calculator. We believe in what we are doing.

What are the commissions and the various ways to earn extra income?

The commissions are paid as follows on our One -month Arm product: If you charge 1 point, which is a minimum, you will be paid 1.16 Points in return or 116% of the upfront fee.
Some Examples:

• If you charged 1 point on a 300k loan, you would earn 1.16 times 300k = $3480. in commissions.

• If you charged 1.5 points upfront on the origination fee, you would be paid 1.34
  points in return.

• If you charged 2 points, you would be paid 1.52 points in return and at 2.5 points
  charged upfront, you would be paid 1.7 points in return.

• If you earned 1.7 points on a 350k loan, your commissions would be $5950.00.

• You will earn between 1.12 points and 1.7 points per loan on these One-month arm notes.

You select what you want to charge. We have people that write one loan a day.
Summary:

Charge 1 point upfront = 1.16 points to you or 1.16% of loan
Charge 1.5 points upfront = 1.34 points to you
Charge 2 points upfront = 1.52 points to you
Charge 2.5 points upfront = 1.7 points to you

Our rates and guidelines are identical to Washington Mutual, which is the best lender in the business and #1 in the country.  Our goal is to teach you to have fun while offering our unique product. Since our product is unique, we don't have to deal with rate shoppers. It is what it is and they either want it or they don't. The clients' only out of pocket expense will be the appraisal and the rest can be rolled into the loan. Most people that do this program charge at least 1.5 to 2 points upfront and have no problem with this at all. You will read the presentation book to the client and it explains everything in exact detail. You then just ask them if they wish to proceed. Anyone can succeed in this business with a little hard work and desire. We provide virtually everything you will need.

Why we are so popular?

In addition to the above, we pay your matching taxes of approximately 6.5%, which is like a 6.5% increase in commissions, considering many companies charge it to you, which is fairly standard in the industry to do this. Other companies talk about large commissions, but reduce them dramatically at payroll time. They have you pay your own matching taxes, which is perfectly legal and then they charge you large payroll and administrative fees. We have absolutely no hidden fees. We pay your marketing expenses as follows: After your third closed loan, we will reimburse up to $500. per closed loan for your marketing expenses over and above your commissions! This allows you $500. per loan for marketing. Name one company in America that will pay your marketing. This is a huge drawing card for those of you who like to recruit.  Since we are a bank, and not a broker, we do not have to disclose Yield Spread to the client.  This is another advantage, as any loan broker can tell you. They have to disclose their backend points to the client on the Good Faith Estimate and on the HUD. We don't. 

We are a chartered bank and you don't need a license and can do loans in all 50 states as a W-2 employee. This means we can do loans in any state and so can the people you bring on board.  This also means we have no problems in "no prepay states."  We handle all your processing for you. We just need a 1003, GFE, processing checklist and any documents you can gather. We order the appraisals, send the disclosures, put the loan together for you, and arrange the closing. You will have the processors phone number at the office and open communication at all times. It is a great backroom!

Recruiting income:

You can make a full time living as a recruiter in our program and we do the work for you.   We will duplicate the recruiting website and all emails and calls go directly to you.
Overrides can represent a large ongoing income source if you recruit. How many C.P.A.'S, financial planners, builders and realtors do you know? Who do you know that might like to earn an extra 3k for spending one hour in a home reading a presentation book to a friend or associate? We close 40% of our cold calls and 80% of our referrals.

Recruiting other loan officers into the program is optional. It is extremely popular and lucrative as well. Plug them into our system and we do the rest. We hold our daily classes by conference call.  For those who cannot attend, we provide in the starter kit thirty-classes on cassette tapes. It covers everything you need to know from A to Z. We have a presentation book and if you read it to the prospect, it will answer all questions. Our training manual is very complete and we provide virtually everything you will need to get started immediately.  We have been doing this for years and it works. Here is how the overrides work. We also reimburse your marketing cost for recruiting.

The commissions on recruiting overrides for anyone directly recruited is 10 basis points for the first million and up a month funded. This represents your entire group volume.  Next, you are paid 20 basis points for 2 million and up a month funded, 30 basis points for 3 million a month and up funded, (9k) 40 basis points for 4 million a month and up funded (16k), and 50 basis points for 5 million a month and up funded (25k).  As an example, if you recruited five guys who close four loans a month at $250k each, you would be paid $25,000.00 that month alone. The overrides are for directly recruited loan officers only.  There are no additional levels as it is not multi-level marketing.  One or two solid reps can earn you a fantastic ongoing income and all you have to do is plug them into our system and we do the rest. Ads in papers will get your phone ringing off the hook. Send them to your duplicated website and if they are interested, they can call you back. It is not that hard to develop a team, because to the best of our knowledge, no one else offers exactly what we have.

In summary, you are paid on personal production, reimbursements for marketing, reimbursements for the small set up fee, and ongoing generous overrides if you recruit. It is one of the best programs in the industry for a person who wants to learn a better way of doing this business. Serious money is being made and we are seeking winners who wish to join our team.
 

 

 

How to get a domain and host cheap, so you can duplicate our cashflowloan.org website and or loans125.biz website?

Answer: We don't get involved in what web host or domain you select, but this website will rank them for you. Once you have the host and domain and the user name and passcodes, send them to our office by email and we will forward them to Tom to duplicate your site. Until you have this info, we can do nothing. Tom's email is tom_barret Do not contact him until you have your host and domain completely set up. He will then need your email address, address and phone number as well and or fax number. If you wish to duplicate the recruiting website separately, you will need another host and domain as well. There are no changes to the site and Tom sets it up so the applications and emails only go to you. http://www.webhostingunleashed.com

 

What states are we in?

We are a bank and as a W-2 employee will be allowed to work in all states.  No license is involved or needed. You can also recruit in all states.

How long does it take to get paid?

The good news is the fact that it is one of the best loans in America and the bad news is that it takes 30 to 45 days to close. We pay within 24 hours of being paid.  We have closed loans faster, but we would rather under promise than over promise. We teach our marketing reps to under promise with the prospects as well.

Is the mentor program free?

You truly don't want it to be "free". We want to limit our size and give each person the attention they deserve and require. Free would mean you have a no cost program that is open to the public, which limits our ability to provide individualized training. We have to do a background check, set you up on our information database and provide you with a presentation book, 200 page training manual, and a tape of 30 of our teleconference sessions. We provide a password to our ongoing teleconference call classes held weekdays at noon EST. The cost also includes a private mentor program by email and or phone. Our experience is very simple: People who pay a small fee are serious about doing it and the rest are a waste of time. We charge $295.00 to join and it can be paid on the application page or by check. Call if you plan on paying by check for mailing instructions. The money is refunded on your third closed loan. Do not pay until you have been approved by email notification. Once we have your application, we will decide. We are looking for positive and hard working people who can follow instructions.

I want to do this. How do I proceed?

Apply now by following this link to fill out an application.  Our business address is: Western Financial Services, Rich Johnson/Loan Specialist, Lancaster, CA 93535. 661-492-9554 (re: Loan Officer Job).  If you have been referred by someone, we need to know. After we receive your application, we will respond within 24 hours.