PROS AND CONS

Joining a mortgage banking firm or a direct lender might seem like a lucrative option, but let’s pull back the curtain on how it really works. These companies secure a warehouse line of credit to fund loans, creating the illusion that they are the actual lenders. In reality, they sell these loans to approved wholesale lenders or investors. This setup allows them to craft their own rate sheets, adding a significant markup to both the rate and fees. As a Mortgage Loan Officer in such an environment, you’re often kept in the dark about the true core pricing available in the market. The result? You end up offering consumers higher interest rates and additional fees, limiting your ability to provide the best solutions for your clients.

At Layton Mortgage, we prioritize transparency and ethical decision-making, empowering you to offer competitive rates and exceptional service. Don’t settle for less; choose a career path that aligns with your values and financial goals.

Compare life as a Loan Officer at Layton Mortgage vs a Retail Loan Officer at a Bank or Direct Lender

A Revolutionary Platform: More Than Just a Job

Layton Mortgage: We are revolutionizing the mortgage industry with transparent pricing as well as transparency in all we do. Our unique platform offers industry-leading commission splits and a revolutionary downline revenue share model. You’re not just joining a company; you’re becoming part of a movement that’s transforming the mortgage landscape.
Bank or Direct Lender: Traditional employment model with no revenue share and limited commission splits with the majority of the profits going to the lender as well as hidden profit margins built in for the lender which can affect the consumer’s pricing.

Financial Benefits: Optimal Rates and Choices

Layton Mortgage: With over 25 years of experience and low overhead costs, we offer excellent interest rates and lower fees, saving money for your clients and enhancing your reputation.
Bank or Direct Lender: Higher fees and interest rates due to added operational expenses which include numerous offices as well as the expense of brick and mortar.

Culture and Values: People Come First

Layton Mortgage: Our culture prioritizes your well-being and financial success, aligning with the advantages of working for a mortgage broker where a people-first approach is standard.
Bank or Direct Lender: Often a corporate environment with less focus on individual well-being.

Earning Potential: Sky’s the Limit

Layton Mortgage: Industry-leading commission splits, and a unique mortgage industry leading downline revenue share model means your earning potential is unparalleled. You are unlikely to find another opportunity that compares to what we offer. Retire while enjoying income from our downline revenue share for life.
Bank or Direct Lender: Limited to a basic salary if one is lucky and typically meager commissions unless you are a top producer. Often limited retirement options available and vesting that may take as long as 3 to 5 years or more.

Flexibility and Autonomy: Be Your Own Boss

Layton Mortgage: Experience collaboration and inclusivity, along with the autonomy to make decisions that best serve your clients.
Bank or Direct Lender: Typically bureaucratic, with less emphasis on teamwork and more on individual performance as well as the employer’s bottom line.

Client Focus: Tailored Solutions

Layton Mortgage: Offer best-in-class rates and services to your clients without compromising on quality, thanks to our low overhead costs and multitude of lender partnerships.
Bank or Direct Lender: Limited to the products and rates offered by the institution, often leading to less optimal solutions for clients.

Professional and Personal Growth: Never Stop Evolving

Layton Mortgage: Encourages both professional and personal growth, a unique advantage over banks and direct lenders. Continuous encouragement to grow your own team as well as sharpen your team building and leadership skills.
Bank or Direct Lender: Limited opportunities for advancement and less comprehensive training as well as limited opportunities to build your own team.

Local Community and Social Impact: Make a Difference

Layton Mortgage: Be part of something bigger and make a meaningful impact in the communities we serve and in your own local community.
Bank or Direct Lender: Often less focus on community involvement and more on meeting institutional revenue targets. Can sometimes be more focused on appearance rather than meaningful impact in a local community.

Streamlined Processing: Focus on What Matters

Layton Mortgage: Our top-notch processing team takes care of the busy work, expediting your path from application to close. Our processors are paid for performance.
Bank or Direct Lender: Often burdened with additional administrative tasks, regulatory constraints that often lead to slowing down the loan process. Processors at many banks or lenders often only work a fixed schedule and during economic slowdowns they may be prohibited from working after hours.

The Ultimate Conclusion

If you’re a Loan Officer aiming for a rewarding, flexible, and financially lucrative career, the choice is abundantly clear: Layton Mortgage offers unparalleled advantages that you simply won’t find in a bank or direct lender setting.

At Layton Mortgage, you’re not just choosing a job; you’re choosing a fulfilling career and a meaningful life. Our mission transcends traditional leadership models, embracing a people-first approach that places your well-being at the forefront. Join us in setting a new standard for the mortgage industry and making a meaningful impact in the communities we serve.

List of items MLO gets when they Join Layton Mortgage

Microsoft Office Subscription:

Includes all Microsoft Office applications such as Outlook, Word, Excel, PowerPoint, etc.

SharePoint Intranet Access:

Industry News, Training Opportunities, and Document Storage for borrower files.

Loan Officer Toolbox:

Immediate access to essential L/O forms and tools for top-producing MLOs.

Lending Pad:

LOS/POS software

Recruiter Toolbox:

Drip Emails, Drip Text Messages, Ringless VM Drop, Social Media Content, Pitchbook, and more for recruiting.

Consumer Facing Websites:

Custom-branded websites for Layton Mortgage and/or Reverse Mortgage Authority, featuring your information.

Recruiting Websites:

Websites linked to you with built-in follow-up drip marketing for both immediate and long-term success, associated with Layton Mortgage and/or Reverse Mortgage Authority.

Prebuilt Lead Funnels:

Branded for various mortgage loans, ready for advertising on different social media platforms.

Leads4Real / Reverse Live Transfers Lead Portal Access

Illuminate Automated CRM Access

And More

Additional benefits and features not explicitly mentioned in the list.