Real Mortgage Partners
Real Mortgage Partners The Evolution of Mortgaging “The Missing Link” A unique partnership that is securely linked by licensed mortgage agents in related business practices. The practice of developing strong business referral relationships is not a new concept; however, in time these relationships begin to drift apart as their core business develops. The idea of building a fence around your client by offering related services is also not a new concept, but again the links tend to weaken as the core business develops. Building the core business is a comfort zone for most professionals and related business referrals become more of a topic only if a client specifically asks about other available services. Who wouldn’t want to have a strong trusting referral group that clients can easily access? The strong trusting link is a Mortgage Agent License. In most professional transactions, a mortgage is the primary common element in dealing with Real Estate Agents, Financial Planners, Home Insurance, Accountants and Lawyers. At this point, obtaining a Mortgage Agent License is an easy, inexpensive process that would complement all of the related fields. Not only will the core business increase, but the trusted services offered to clients will be linked by the Mortgage Agent License. Our mortgage underwriting and administrative team of seasoned professionals will ensure an effective complementary service that will allow the Partnered Professional to concentrate on their core business.
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The Real Mortgage Team • • • • • • •
Centralized underwriting Experienced underwriters Established system flow from start to finish Dedicated assistants Expert database management Increased availability Dedicated retention team
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Education and training Paperless technology Respected industry wide Established volume Longevity – 28 years in business Tristar database Mortgage Free Sooner Plan
The Mortgage Centre is the most reputable and understandable brand identity in the mortgage industry. The Real Partners • • • • • • • • • • •
Real Estate Agents, Planners, and Accountants to be gradually licensed under Tristar Funding Corporation o/a The Mortgage Centre KW Must be properly licensed under FSCO guidelines (level 2 of Partnership) Access to Online Agent Course Broker and Lender connection with Expert mortgage application MCC connection to website All deals underwritten under Richard Kitts’ name Increased Primary Business Revenue • Increased percentage of closings • More referrals • Client retention Added Client Value • Saves money • One stop shop • Professional licensed team Enhanced Client Retention • More services added • Educational upgrade • Direct database link on mortgages Costs • One time cost Agent Licence $350 Ongoing Costs • FSCO – $700 annually • E & O and CAAMP – $55 monthly
Real Mortgage Partners Compensation Partner variable compensation plan depending on level of involvement. Level 1: 20% of Gross Finder Fee (no license required) Mortgage Referral only • • • • • • • • •
Partner will be classified as Referring Partner with Mortgage Centre Team Hand off via email or phone call MC Team to call and complete application All underwriting, collection of documents, and customer signing done by MC Team Close letter on behalf of Partner and MC Team 10 closed deals per year to continue program Must take the Mortgage Agent course within 1 year Clients will obtain MC / Kitts mortgage pricing All deals to be submitted under Richard Kitts
Earning potential would be approximately $330 per closed deal based on a $250,000 mortgage for a 5 year term.
10 deals per year $3,300.
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If you are a dedicated, hard-working sales professional with the passion to take on new challenges, we want to hear from you. Level 2: 35% of Gross Finder Fee and Volume Bonus Agent Partner (Assistant)
Level 3: 50% of Finder Fee and Volume Bonus Mortgage Partner (Assistant)
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The Partner Agent to complete an Expert application by having the Client complete online, by phone, or in person. Include details of subject property and new mortgage details. Credit Consent and KYC forms to be completed by applicant prior to submission MC Team to review, call client if necessary All underwriting, collection of documents, and customer signing done by MC Team Emails sent for Thank you, Anniversary Check-ups, Newsletters, Renewal follow up 6 months prior and opportunities to refinance or break mortgage All deals to be submitted under Richard Kitts Partner Agent will have own business card under MC Team Volume Bonus will be paid on the 12th closed mortgage retro to deal 1 On-going 35% commission based on same agent involvement (ie. Renewals/switches, client referrals, refinances) Earning potential on the first 11 closed mortgages would be $700 per closed deal based on a $250,000 mortgage for a 5 year term
Earning potential on the closing of the 12th mortgage would be approximately $875 per closed deal based on a $250,000 mortgage for a 5 year term retro to deal 1.
12 deals per year $10,500. 6 The Mortgage Centre
Ability and skill to close deal on their own Must close 20 deals per year to proceed to this level Partner Agent to complete application, send out for approval, get commitment and email, fax or sign up client, return signed documents along with outstanding conditions (income, down payment, lawyer, etc.) MC Team will review commitment, prepare, complete and email detailed closing package to agent or client for acceptance, review accepted commitment and follow up on all missing documents (income, down payment). Confirm complete with lender, lawyer and keep all parties up-dated Underwriting support available Database management On-going 50% commission based on same agent involvement All deals to be submitted under Richard Kitts
Earning potential would be approximately $1,250 per closed deal based on a $250,000 mortgage for a 5 year term.
12 deals per year $15,000.
Real Mortgage Partners Richard Kitts Principle Broker Director of Underwriting and Sales
Paul Eckmier Mortgage Broker Senior Mortgage Underwriter / Client Closing Specialist
Brent Richardson Mortgage Agent Business Development Officer / Client Closing Specialist
Rebecca Neufeld Mortgage Agent Mortgage Underwriter / Client Closing Specialist
Katie Childs Mortgage Agent Fulfillment Specialist / Client Closing Specialist / Operations Manager
Melanie Goodburn Mortgage Agent Database Management / Client Support / Fulfillment Specialist
Chelsea Kitts Mortgage Agent Receptionist / Client Support / Database Administrator
Ana Juhik Mortgage Agent Fulfillment Specialist
Jennifer Lovsin Mortgage Agent Guelph Area
Tristar Funding Corp. 201-1120 Victoria Street North Kitchener, Ontario N2B 3T2 Phone 519 743 4365 Fax 519 579 8799 www.mortgagekw.com Brokerage License #10828 Each Mortgage Centre is independently owned and operated
Tristar Funding Corp. 201-1120 Victoria Street North Kitchener, Ontario N2B 3T2 Phone 519 743 4365 Fax 519 579 8799 www.mortgagekw.com