INTRO/ABOUT
For those interested in exploring an entry level position in the mortgage industry, this is your opportunity. Trulo Mortgage is a fast-growing start-up mortgage company seeking motivated individuals who want the ability to set their own income where there is no cap on earning potential or upward mobility within the company.
You will be reaching out and speaking with prospects who have inquired about a loan for an investment/rental property long term financing, fix & flip/rehab, hard money or bridge, commercial property, and ground up construction loans. All of the loan types we currently offer are for investment properties and considered business purpose loans, primarily on 1–4-unit residential properties, and occasionally commercial properties. Most of the loan types we offer are considered hard money loans.
An ideal candidate will have studied or is currently studying one of the following fields or similar in college, although this is NOT a requirement or prerequisite for the position: Finance, Business Administration/Management or other business fields, Economics, Communications, Accounting, and Marketing/Sales.
ROLE DETAILS
For the first 60-120 days you will be working closely with a Sr. Broker and the Owner who will mentor and coach you to ensure that you have the tools you need to succeed in the industry. Given that this position is for a start up role, we are seeking individuals who ideally want to evolve to a top producer position, where they will build a team around them, or a leadership position such as Team Lead or Sales Manager, where you would oversee other LOs and sales staff to ensure their success. We are a fast-growing company, and the sky is the limit, and we are seeking individuals who are excited and driven by their growth potential within the company.
You will start by opening calls and qualifying the leads, and transferring the leads to an LO. Once management has decided you are ready, you will go through a training process and be promoted to Jr. LO. This will take on average 2-3 months depending on the individual.
Note: Most business purpose loan products do not require this, but those applying should be willing to undergo the coursework, testing, and prerequisites needed to obtain an NMLS loan originators license if necessary or required.
COMPENSATION
The pay start as a base plus per file bonus, and once you are transitioned to LO, will become a draw vs commission. Those seeking a large base need not apply, as the role is designed for commission motivated individuals who like the ability to set their income through their production.
A Loan Originator meeting our minimum production standards will make a minimum of $70-75k per year. Most Loan Originators will be able to exceed that, as it is based on meeting the minimum production requirement. A starting role producing an average number of deals can expect $10-15k per month. A top producer can expect more.
Note that one advantage to working with real estate investors is that many of them become repeat business. Many of our clients are full time real estate investors who are always buying new property or refinancing existing properties in their portfolio. If they had a good experience with you initially, they will usually come back to use you again, creating a snowball effect in terms of your originations and commissions.
Any further details or questions regarding the pay structure will be discussed in detail on our introductory call.
QUALIFICATIONS
- DISCIPLINED AND SELF-STARTER- As a company we believe in fostering a culture with no micromanagement. Although we do strongly believe in coaching, mentoring, and helping set goals as needed.
- COMMISSION ORIENTED- as a Loan Originator your income will be tied directly to the revenue you bring in for the business. There is no limit to the income potential a Loan Originator can make. Which is why it is one of the highest paying job roles in any industry for the top producing LOs.
- ACCOUNTABLE- take extreme ownership where wrong, willing to acknowledge where improvement is needed.
- SELF-DEVELOPMENT ORIENTED- the ideal candidate is someone that is also interested in self-development in all areas of their life.
- LONG TERM- CAREER BASED GOALS- those who are interested in the position solely for the purpose of making a lot of money need not apply. You don't need to love every aspect of the industry, but you will have to have a certain level of interest and enjoyment in the work being done. Otherwise it will not be a good fit, as we are seeking those interested in making a career in the mortgage industry.
- ETHICAL- We do not condone any practices such as misleading or lying to clients, etc. We only work with team players.
- ADAPTABLE- The mortgage industry is an ever-changing industry. Loan product guidelines, marketing campaigns, interest rates, loan program offerings, wholesale lenders, etc. are always changing. The ideal candidate understands this and is excited about the ever-changing landscape, as opposed to a monotonous or complacent company or industry. On top of this, Trulo is an ever-evolving, rapidly growing start-up. You will see the company evolve and assist with its growth and development, as well as have the opportunity for unlimited growth within the company at a much faster rate than your typical business.
- ANALYTICAL- An important aspect that makes a great Loan Originator is the ability to analyze complex loan scenarios to determine how they can be structured, as well as which loan program best suits the client's needs.
- DETAIL ORIENTED & ORGANIZED- There are a lot of moving parts to originating a mortgage loan. Many criteria must be met to determine viability of any of our loan products. Ability to organize and properly store and analyze all of this information is vital to assisting our clients with providing them their best option.
- EXCELLENT AND PROFESSIONAL WRITTEN AND VERBAL COMMUNICATION SKILLS
- ABILITY TO MULTI-TASK, ORGANIZE, AND PRIORITIZE WORK
Those who do not meet the above need not apply. You do not have to meet all the criteria above by any means. Discipline, motivation, and a willingness to be coachable and learn is the most important. We will take those seeking greatness and guide them. Those seeking a comfortable regular job with a comfortable base pay or salary who are not production/commission motivated need not apply. We are only seeking those who would like to evolve to top producers or leaders within the company, as well as become experts in sales and mortgage. By applying, you understand that many candidates will not make it in this role, yet for those that do, it can lead to a very rewarding career in the industry.
Any further details or questions you have will be discussed on the initial introductory call.
Job Type: Full-time
Pay: $75,000.00 - $300,000.00 per year
Schedule:
- 8 hour shift
- Monday to Friday
Ability to Commute:
- Los Angeles, CA 90064 (Required)
Work Location: In person
