We are pleased to make you the following offer of employment: We will employ you as a Loan Agent in which capacity you will solicit borrower for loans.

You shall devote reasonable time, ability, and attention to the business of MortgageCompany.com (MCC) during the term of your employment and shall not directly or indirectly render any services of a business, commercial or professional nature to any other loan companies or competitors, whether for compensation or otherwise, unless approved by MCC in writing.

As total compensation for your services, as an outside salesman/saleswoman, you shall be entitled to a commission of 30% of the net loan commissions earned by MCC on borrowers referred by you while an employee. Net loan commission is defined as a loan commission actually earned by MCC after payment of any loan origination fees or points that may be charged by the lending source. Your commissions shall not become due and payable to you until the loan proceeds have fully disbursed to the borrower and MCC.

The term of your employment shall be as long as the services rendered by you are satisfactory to MCC: the owner of MCC shall be the sole judge as to whether your services are satisfactory.

You agree not to, at any time, directly or indirectly, furnish any information as to the methods of operation, advertising, promotion, or actual lender or any other information relative to the operation as a Loan Agent or loan broker, to any person or persons, corporate or real.

If this offer of employment is acceptable to you please provide your e-signature in dialogue box provided below.

Dear Prospective Broker,

Thank you for your interest in becoming an approved broker with MortgageCompany.com (MCC). There are four steps in the approval process.

Remember, for a quicker approval, please utilize the checklist when you are submitting the application materials. Please direct any questions you have about the process to your Account Executive.

Please use this checklist to ensure that you are including all necessary documents in your application to become an approved broker of MCC.

As a new Broker with MortgageCompany.com (MCC) we’d like to welcome you to what will be a new and lucrative career with us.

As a MCC Broker Affiliate we require, all licensed brokers to send us their original license issued by their prospective State. MCC is Net Branch which is licensed in most States across the United States. This allows all of our Mortgage Broker Affiliates, whether licensed or not, to broker loans through MCC.

Review our section on Licensing before contacting our MCC Lenders. If your state requires loan brokers to be licensed, you must have your license before affiliating with our MCC Lenders.

Let’s talk about our Lender partners for a moment. Knowing who will loan you money is the first foremost ingredient in securing a loan commitment. Remember that a lender is in the business to lend money. There are lenders that specialize in mortgage money, lenders whose expertise is concentrated upon projects such as high rises, apartment complexes, and shopping centers. There are factors, and lending institutions that work with small business-types loans, ranging from $15,000 and up. And there are, of course tye more sophisticated lending sources that become involved in a combination of lending institutions. Therese lenders depend on you as an MCC Broker, to bring them their borrowers.

As one of the biggest assets in your new business is the MCC Approved Lenders List. It has taken our company many years and a history of successful MCC fundings to develop a relationship with these lenders.

As you review our lenders you will quickly note that these lenders are actively seeking loan broker business. Their literature on our site has been specially created for MCC Broker use. They have staff representatives (i.e. Account Executives or AEs) who work exclusively with loan brokers.

Our staff at MCC has researched lending across the nation that utilizes loan brokers. While we disclose these lenders to you, we cannot possibly have a personal relationship with every lender or every office. What we do know is that these lenders are the “core lenders” for successful loan brokers across the country!

The first thing you will notice about MCC Lenders is the wholesale rate sheets. The important point to remember is that this wholesale money cost is the rate your lenders charge you. The difference between this rate and the rate you charge your borrowers is your profit. The rate charged your borrowers is the retail rate. The retail rate is the same as quoted to a borrower off-the-street by the lender.

Quite often the very lenders you use will have both a wholesale division and a retail division. You could charge less than their retail division and thus be better priced to your borrower than if the borrower went to the lender direct.

Let’s review some terms that you will see on a typical Wholesale Rate Sheet (See the Lender Profile page):