Simple Fee Structure: Pay a flat fee of $2,500/month and close as many loans as possible in a month.
Efficient Financial Setup: We arrange a dedicated checking account for all your earnings, including overrides and bonuses. Set your lender comp on every deal.
Direct Fund Reception: Receive funds directly to your business account via wire or checks from title companies.
Flexible Compensation Plans: Pay your loan officers at your convenience, setting up a compensation plan that suits your preferences. For example, set up your loan officers at 250 basis points (BPS) and lock loans on the mini-corr channel at 350 BPS, allowing you to retain 100 BPS.
No P&L Constraints: Enjoy the freedom to use your funds as you see fit, without unnecessary P&L restrictions.
Customized Margins and Locks: Utilize your own LoanSifter to set up margins and locks according to your specific needs.
Advanced LOS Software (LendingPad): Leverage state-of-the-art software to control what your loan officers can and cannot see.
Extensive Lender Network: Work with over 100 lenders, choosing between broker/Mini-Corr/non-del (RAW PRICING) options to ensure a suitable place for closing your loans. In cases where that doesn’t work, utilize the Delegated channel with an impressive 98% closing ratio.
We are a group of 5 MLOS and our current volume is 10 to 12 million a month. We mostly engage with the Hispanic community and originate and close ITIN loans. We broker 90% of our business so we don’t deal with HQ too much, or our AE Amy. However, when we need help with a FHA or Non-Qm Amy is always there to help and use the non-delegated channel where we can make a little more because we can charge to borrower the UW and use the fees out option. This has made us more money every time and I wish I could use it more.
Me and my son joined Obsidian in July 2023, we produce 5 to 8 million a month. I use nothing but the non-del and delegated platforms so I can max out the compensation. We have a presence in the Chinese realtors’ offices here in Orange County, CA. I have had 6 loans so far that I sent non-del where the lender turned down the loans. I spoke to my RM Jennifer, and we sent the files to the delegated channel and closed on time with all borrowers, anywhere else the files would have been dead. We really like it so far.