New Originator Orientation Presentation

Transcription

1 New Originator Orientation Presentation 1

2 This is a step by step assistance to get you up and running with Innovative Mortgage as quickly as possible. You should have received a welcome that has important information that you need to review. Please contact Suzanne via at suzanneehrlich@gmail.com if you did not receive a welcome . 2

3 The first step to becoming a new Loan Originator with Innovative Mortgage is to associate with us thru the NMLS website. We will receive an once you have completed this step. Follow the steps below to complete the association with Innovative. 1. Log onto and select the Filing tab at the top of the page. 2. Next select Company Access. 3. Next click Add and enter Innovative Mortgage Services under the Name field. Select Florida under the State field. Next click search. 4. Innovative Mortgage Services, Inc. will populate and you must select the check box next to Innovative and then click on Save. Now you have associated with Innovative. You will also need to go into the state section of your NMLS record and update your employment section as well The state of Florida and Innovative do not require that we sponsor you, but some of our lenders may. In the event that you need to be sponsored by Innovative, we can complete this step on-line for you. The NMLS does charge $30 for this so you will need to provide us with credit card information 3

4 Please with the 3 or 4 lenders that you wish to have immediate access. You can request additional lender access as necessary. Please be aware lenders do require the your license to be associated prior to access to their website. A list of currently approved lenders can be found at Lenders are listed alphabetically based on the category/type of products they offer. Please note that lenders are updated monthly. Before proceeding with a new loan always confirm with the Account Executive that Innovative is currently approved and active with the wholesale lender. Broker Approval requests should be ed to SuzanneEhrlich@gmail.com 4

5 Innovative is currently set up with 3 credit vendors: Avantus Credit, Credit Technologies and Network Credit. If you wish to use Avantus Credit, please suzanneehrlich@gmail.com for a login and password. If you wish to sign up with Network Credit please contact Doug Swan, at x4 or him at doug@networkcredit.com to get signed up. If you wish to sign up with Credit Technologies, Inc. please contact Belinda at BGowen@CreditTechnologies.com. Innovative prohibits originators from accepting third party fees. Therefore, credit report fees cannot be collected at closing from the borrower. The borrower or originator is permitted to pay for credit report at the time of the order via credit card directly on the credit vendors website. 5

6 A comprehensive list of lender paid compensation can be found at The password to open is 1234IMS. Requests to lower/raise current lender compensation can be ed to for consideration 6

7 You will need to submit a Quarterly Volume Bonus for each new quarter even if you have not changed your compensation. The form can be completed at Please retain a copy of your submission for reference. Each transaction requires a revenue form. This automated form will assist in determining what the borrower should be charged. This form needs to be completed and forwarded to your processor to be included in the loan file. These forms can be completed at You can view our online tutorial for compensation at Please note that failure to complete the volume bonus in the quarter that the closed loan was originated will result in forfeiture of the loan commission or deferment to 1%. 7

8 You can use our Warehouse line thru Guaranty Trust Mortgage for Conventional, VA and Jumbo loans You will want to review our Warehouse tutorial at Innovative deducts.25 for warehouse transactions. The rate sheet is not adjusted for the quarter point. The online pricing engine deducts the quarter upon pricing/locking. 8

9 Once you have completed the NMLS association, you will be able to purchase Calyx thru Innovative Mortgage. Innovative Mortgage utilizes Point Central via an on-line server so that your processor will have direct access to your files. Innovative Mortgage charges a quarterly fee for access. In addition, you will receive access to have your borrowers complete on-line applications. Instructions on importing the Calyx file can be found at Importing Calyx Applications. The password to import Calyx files is 1234IMS. You will receive your own page with your specific link to forward to your borrowers. An example of loan officer webpages can be found at Please your picture and bio to BryanEhrlich@gmail.com. You will receive a link to download to your computer for installation. You will need to install the link on your computer within 24 hours of receiving the link. Calyx tutorial and assistance can be found at Our account number with Calyx is should you wish to register for any classes or need technical assistance. 9

10 The easiest way to have instant access to Innovative Mortgage Management is via Google Talk (Instant Messanger). Make sure to invite and to your Google Talk. Please go to for instructions on how to install in your computer. 10

11 Once you have an active loan, make sure to move the file into the Processing folder of Calyx. Contact your selected Processor to advise her that the loan is now in her pipeline. Make sure to complete the appropriate revenue form and forward to your processor to place in file The purpose of the revenue form is to help you ensure that you collect enough revenue to equal your quarterly volume bonus compensation, plus Innovative s fee, plus processing or extraneous fees. 11

12 All Broker Checks must be sent by the title company to our corporate mailing address 1430 Flores Ct Trinity, Fl Your company approved processor maintains a list of the required items needed from the title company on closed loans. Innovative does not review files until all of the following items have been received: broker check, title package and processing package. Once all of these items have been received compliance will be completed on the file in 1-2 business days. Due to a high volume of closings occurring at the end of the month, the review time is subject to change. Your commission will be automatically deposited into the account you have provided to Innovative in your new hire paperwork. Warehouse closings require advance notification and select items ed to suzanneehrlich@gmail.com at least 24 hours prior to closing. 12

13 Please add your NMLS number and Innovative Mortgage Logo and NMLS number to the signature line of your address. All websites and marketing material require advance Innovative management approval. Calyx mobile for iphone and android is now available. Please if you wish to purchase. The charge is an additional $30 per quarter. 13