Are you ready to make the life-changing switch to wholesale and take advantage of what ‘going independent’ offers you as a mortgage broker or loan officer? Our team at BeAMortgageBroker.com is here to help you every step of the way.

TAKING THE PLUNGE AND NOT LOOKING BACK

Making a career change is never easy, even if you know it’s the right thing to do. And sometimes you don’t realize it’s the right thing to do until you actually make the move.

Once Joseph made the switch away from retail lending, where he’d worked for 25 years, to become an independent mortgage professional, it didn’t take long to figure out that not only had he made the right decision, but he should have done it much sooner. Among other reasons, he cites the exclusive access that independent mortgage professionals have to wholesale lender partners and other industry-leading vendors – and he encourages his colleagues who are still working in retail to make the move.

Better Late Than Never

“When we jumped in (to wholesale) with both feet, it was a lightning rod instantly,” said Joseph, who is now the Managing Partner at a brokerage in Shelby Township, Michigan. “We started closing loans right off the bat. We should have done it many years before.”

After spending 25 years in retail, Joseph decided to make the transition to become an independent mortgage professional. The biggest difference he noticed working as an independent was the freedom and flexibility it offered.

“I get to make the decisions that I feel comfortable with – the decisions that I feel are best for my clients and myself,” said Joseph.

Faster and Easier

The transition to the wholesale lending channel was a smooth one thanks to the support Joseph had along the way from partners who exclusively support independent mortgage professionals. He gives a lot of credit to wholesale lenders who helped him throughout the process of starting his business and got him up and running to start submitting loans quickly. 

“Pointing out things that I didn’t know, haven’t seen, haven’t experienced yet,” said Joseph. “I always felt like I had true partners next to me that were willing to help me through the whole transition.”

Not only that, Joseph found that the process of submitting loans is far more seamless than what he experienced in retail.

“It’s easier to do loans,” Joseph said. “I find that they’re asking for less conditions, have quicker turn times, better pricing. It’s just an overall very easy experience.”

A Breath of Fresh Air

When he thinks about the impact of his move to become an independent mortgage professional, Joseph cannot overstate the difference from his time working in the retail lending channel. He’s having fun at work again – something he didn’t know was possible until he made the switch.

“Going from retail to wholesale has completely changed my work life,” he said. “I’m actually a happy person again. I didn’t realize after being in the business for so long how bad it was beating on me being on the retail side, but boy, oh boy it’s been a breath of fresh air. I've enjoyed it like I did when I first had success 20-some years ago.”