Access Your Pending Contract Commissions With Commission Advance For Brokers
For many mortgage brokers and loan officers whose livelihoods depend on closing deals, maintaining adequate cash flow can be very challenging. At a time when even streamline refinance transactions take longer to close due to enhanced compliance and a tighter regulatory environment, an early payout is a welcome idea.
How It Works
A commission advance for brokers offered by Wilson Gordon firm, means being able to tap working capital for the purpose of keeping the business afloat. A real estate transaction does not have to be delayed for the sole reason that a loan officer left her job in frustration because processing the application was taking forever.
1. Online Application
Everything starts with an application, which is completed online. The application will ask information about you (the broker) the subject property and the type of financing that you are seeking.
Each application is reviewed for feasibility. This review is necessary for the purpose of determining your (the broker's) advance rate. Once this rate is calculated a payment offer is formulated.
3. Calculation and Approval
After the application is reviewed and your advance amount is calculated, an electronic agreement is drafted and sent to you. You can then affix your digital signature.
Payment can be disbursed immediately or within 24 hours; the payment method is ultimately decided by the mortgage broker.
Why You Should Choose a Mortgage Broker Commission Advance From Wilson Gordon
A commission advance for brokers makes sense at a time when the housing economy of the United States is recovering at a very solid pace. Deals are being signed, but they are not getting to the closing table fast enough because of the sheer volume of transactions; this may sound like a great situation for mortgage lenders since they have access to money lines, but the same cannot be said about individual brokers.
In essence, the idea is based on the financial strategy of factoring, which means that a portion of an expected commission is sold by a broker to a factoring agent who provides funding. In other words, mortgage brokers can access part of the commissions they expect to earn in the near future.
The Trusted Choice
A broker commission advance is a win-win situation for all parties involved. Even if a deal falls through due to unforeseen circumstances or because borrowers exercise their right of rescission, there will always be another deal in the pipeline.
Advancing a commission is as simple as having an item paid at closing. The title and escrow agent will take care of all disbursements, including wiring funds to the agent providing the advance.
Individuals are not the only beneficiaries; the brokerage firms they work for also get peace of mind knowing that their brokers and loan officers are not planning on taking their clients elsewhere because they cannot wait any longer to receive their commissions. For all these reasons, a commission advance for brokers makes good financial sense for you as a broker. Apply online now and receive your commission today!
Low Advance Costs
At Time of Contract
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