| Do I need an individual mortgage license to participate? |
| Transcontinental Lending Group is licensed in the following states: see state map. Some states require that the loan officer must be licensed. Florida, like many other states, does not require a mortgage license as long as you are a W2 employee of the company. In those states that require licensing we will guide you through the entire process. For further information, click on the Licensed States tab. |
| Why must I become an employee of Transcontinental? |
| It’s simple, easy and legal. Florida and many other states permit a W2 employee to work without a license. In our system you are treated as an outside commissioned salesman and will be paid by Transcontinental for each mortgage loan submitted and closed by Transcontinental Lending Group. |
| Is it legal to be compensated for performing mortgage origination services? |
| Absolutely! RESPA guidelines allow our “Mortgage Partners” to be legally compensated for performing mortgage origination services. The fast and easy Transcontinental Mortgage Partner Program was developed and based on RESPA guidelines and other applicable Federal laws. |
| What kind of lending products can I offer my clients? |
| Currently Transcontinental offers a wide array of lending products. As soon as you complete your training, you can begin to offer competitive purchase or refinance, first and second mortgages and equity line mortgages. In addition, you can offer commercial financing, construction loans and equipment leasing. |
| Can I be paid on FHA Loans? |
| Maybe, FHA loans may not be originated under the Mortgage Partner program. However, there are numerous look alike conventional programs that may offer the same advantages as FHA loan programs. |
| How much can I earn? |
| Our compensation programs pays extremely competitive commissions. Please contact the person that introduced you to our company to discuss your individual compensation package. |
| What do I have to do to be paid? |
In order to earn a fee for the origination of a mortgage loan, the associate must perform specific tasks. You will learn how to quickly and efficiently perform these tasks during our weekly conference calls and monthly training seminars. Six of the following tasks must be completed in order to receive compensation:
· Complete the initial loan application (mandatory).
· Provide the borrower with a good faith estimate and company disclosure.
· Help the borrower gather supporting documentation.
· Shop the rates with the help of a Senior Loan Office.
· Collect a $295 check for an application fee - Refundable to client after closing.
· Order the Appraisal with the help of a Senior Loan Office.
· Order the Title with the help of a Senior Loan Office.
· Order the Credit check with the help of a Senior Loan Office.
· Stay in diligent contact with the borrower.
· Attend the closing (optional).
Your Senior Loan Officer or Branch Manager will supervise all work. |
| What Next? |
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Thank you for your interest in joining the Transcontinental Family. As a part of our hiring process you are required to attend our custom Business and Marketing Seminar. The seminar is not a “promise of employment,” however it is required before you can be considered for a position.
2 packages are offered
- $118.00 for students experienced or inexperienced that have not completed their
Florida mandated 14 hour Continuing Education Credits (Transcontinental is a
Florida based Corporations and Florida CEU credits are required for all new employees)
- $69.00 for students who have already completed the current required
Florida 14 hour Continuing Education Credits (verifiable certificate will be required to be provided to Human Resources)
* “Now I am in the business where do I start?” the 5 DVD Home study course with interactive workbook may also be purchased separately for $99.00
Seminars will be offered in the Transcontinental Corporate Centers or will be broadcast by webinar if there is not a location or class scheduled in your location. Seminar dates , times and locations will be posted on the Transcontinental Events Calendar located @ www.tlg.bz
At the end of the Seminar you will receive a certificate of completion that will be forwarded to Human Resources and will assist in the determination of your hiring process.
Even if you do not qualify to be an employee of Transcontinental you will still gain a wealth of information as to how to make your career a success that you can take with you as well as your 14 hour Florida Continuing Education Credits.
For further questions you may contact ceu@tlg.bz or 954-354-8179
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