Are you ready to make the life-changing career switch from retail lending to wholesale as an independent mortgage broker or loan officer? Our team at BeAMortgageBroker.com is here to help you every step of the way.

RUNNING A BUSINESS HIS WAY IN THE BROKER CHANNEL

Getting to the point where you’re doing so much business that you need help is a dream scenario for any mortgage loan originator. However, that dream can quickly turn into a nightmare if you don’t surround yourself with client experience support. That’s the situation Derek found himself in and what prompted his move to the broker channel.

After starting at one retail lender, Derek was lured to another with the promise of the company building a team around him. With the amount of loans he was doing, having help was exactly what he needed. But he quickly realized that it was doing more harm than good.

“They weren’t my people,” said Derek. “I’m telling them to do it this way, then they go to the company meeting and it’s a whole different way.”

At this point, Derek knew he needed to make another change. Only this time, he was making the move to the broker channel.

“I realized I just needed to have some independence,” said Derek. “And that’s where the wholesale channel came calling.”

Even before he began running a business, Derek had heard rumblings about how much better things could be as a mortgage broker. He had friends working in wholesale who were thriving.

“They're figuring it out and they're doing more volume and they're closing deals that I can't do,” he said. “And the real estate agents that are sending clients over that I can't do deals for, they're going to a broker and figuring it out there.”

Once Derek switched from retail to wholesale, he no longer had to send loans elsewhere. He was able to build a team that was tailored to his needs, and if he needed to tweak something, he didn’t have to worry about it upending his business.

“The two-and-a-half years I've in been wholesale there have been so many transitions. If this was the old way of doing it, I'd be changing companies each time there was a problem. Now we just adjust it and move on.”

 As Derek has scaled his business, he’s had to become more than a loan originator. He’s now recruiting, hiring and training people. Being a mortgage broker has provided him with support to help in each of those areas, especially from other mortgage brokers.

 “It’s more of a collaboration. That’s how you grow.”

 And grow he has. Derek is consistently doing more loans than ever. Though he doesn’t have much time to reflect, when he does, he realizes the path he took from retail to broker has made him into who is today.