Start, Run, and Manage a Successful Mortgage Business

Learn from the president and CEO of Finibi Mortgage, Joe Correa, how to start your own mortgage business

What you will learn

You will be able to understand how mortgage businesses work

You will be able to start a new business with high profit potential

You will understand what is needed to start a mortgage brokerage business

You will understand what is needed to start a correspondent lender and lender business

You will understand what is needed to start a lender servicer business

You will learn how to get approved with lenders to start doing business

You will learn how to get approved with credit companies to start pulling credit and reviewing credit reports

You will be able to submit loans, close loans, and be compensated for doing this

You will learn how to hire, run quality control checks, create a hiring agreement, and prepare a payment structure

You will understand what it takes to process a mortgage loan

You will learn how to close a mortgage loan from beginning to end

You will learn why starting a mortgage business can be a great financial decision

You will learn how to complete an application to get approved for a mortgage brokerage business

You will learn how to complete an application to get approved for a correspondent lender and lender business

You will learn how to complete an application to get approved for a lender servicer business

You will understand what it takes to run a completely virtual mortgage business

You will understand how each mortgage business type profits from each transaction and how to can be a part of this


This is one of the few mortgage courses that actually teaches you how to obtain your mortgage business license from start to finish, how the entire business works, and how to run your own mortgage company. Once you become licensed as a Mortgage Brokerage Business, or Correspondent Lender/Lender, or Mortgage Servicer Lender you can get approved with different lenders to start originating mortgage loans and receive a much higher compensation than as an employee.

In this course you will learn:

How to start a mortgage business no matter what structure you choose to begin with can be very fulfilling financially and lifestyle wise. You can choose to make your business as large or as small as you want by having a small group of employees or a large group. You can choose to hire a branch manager to take care of the daily operations and you just oversee the business and its future growth. Just like starting any business, there are many things to learn but this course takes the guess-work out of the equation by telling exactly what you need to do and who to contact. In order to start any of these mortgage businesses you need to obtain your mortgage loan originator license and either work in the industry for 1 year or hire someone who has worked in the industry for 1 year but this can be done fairly quickly. This course will take you behind the scenes into a world that most people never want you to know about and will never teach you how to get started. The best thing is you will have very low start-up costs and very high profit potential. If you decide to work from home, your initial costs will just be paying for your licensing which you will learn about in this course.

Main benefits of this course and of starting a mortgage business:

Get others to work for you. Stop chasing leads and borrowers. Your mortgage loan originators will bring in deals and you help them to close those deals and make a profit in the process.

More time. As the owner of the business you can choose to hire employees to take care of the daily operations of the business and have more free time to focus more on what matters the most and spend more time with the people you love.

More freedom. When you own a business, you get to choose your hours, who you want to work with, and how much you want to make.

Make more money. When you are an employee, you always receive a smaller compensation than as the employer. When you own a mortgage business you have the capacity to make much more of the profits than ever before.

As a mortgage business owner you can make $100,000+ if you’re just starting out and $2,000,000+ if you’re an established company depending on how you structure your business.

More control. You will have complete control over the transaction and the speed at which your loans close which is very different to make happen when you are not the owner of the business.

You get to help others have a job and a career. Everyone knows that finding a job is not that easy and a great paying job even more. That’s why offering other people a chance to work for you and your business is a blessing that everyone will appreciate.

Having control over your own home loan. As the owner of a mortgage business and as a mortgage loan originator, you will have the unique opportunity to buy real estate at lower rates and with reduced closing costs.

You won’t have to find a job anymore once you open your business you won’t have to work for any one and will have the power to hire others and great an empire.


As a Mortgage Brokerage Business, you typically make up to 2.75% in compensation. This would be the breakdown of how much you can make:

Loan amount $300,000 x 2.75% = $8,250. This is how much you would make and depending on your mortgage loan originators compensation pay structure you pay the MLO their portion of the compensation.

What will you learn in this course?

– How to get licensed as a mortgage business

– How to get approved with lenders

– How to choose what lenders to work with

– How to choose a credit company to pull borrowers credit reports

– Choosing what LOS (loan origination software) to use

– Successfully hire mortgage loan originators

– Successfully create a payment structure for mortgage loan originators

– Understand how to process a loan and how to hire a processor

– Understand how to prevent fraud and create a quality control plan

– How to read and understand financial statements

– How to prepare a profit and loss statement as well as a balance sheet

A course diploma will be available to you when all sections have been completed at 100% which you can save or print. For instructions on downloading your course diploma you can go to:

Your instructor

Joseph Correa is the founder and CEO of Finibi Mortgage, a licensed mortgage brokerage business based out of Orlando, Florida. Having closed hundreds of mortgage loans, he has processed, originated, and audited the majority of his loans. In the past, he has also owned a correspondent lender business and invested in real estate.



Start, Run, and Manage a Successful Mortgage Business

Why should you start this course?
Who should start this course?
How do mortgage businesses work?
Should you have a virtual office or physical office?
What credit company should you use to pull credit?
How to choose a Mortgage Loan Originator?
Are Mortgage Brokerage Businesses profitable?
Instructor Background
Mortgage broker business specific course
Are mortgage businesses profitable?
Why should you start a mortgage business?
Who should start a mortgage business?
Can I own a mortgage business and invest in real estate?


One person business model
Branch officer and loan officer business model
Branch manager and owner business model
Passive income business owner
Mortgage brokerage business requirements
Answering all disclosure questions, having a principal loan originator, credit
Mortgage brokerage business application fees
What can you do as a mortgage brokerage business?
Correspondent lender and lender requirements
Answering all disclosure questions as a correspondent lender or lender
Correspondent lender application fees
What can you do as a correspondent lender or lender?
Mortgage lender servicer requirements
Mortgage lender servicer application fees
What can you do as a mortgage lender servicer?
Cost of license renewal
NMLS MCR reports
NMLS Call reports overview
Obtaining your mortgage license through the NMLS overview
Transaction Journal
Understanding a transaction journal overview

Getting Down to Business

Lender paid compensation vs borrower paid compensation
Blueprint to getting started as a mortgage brokerage business
Incorporating your mortgage business
Obtaining an EIN for your mortgage business
Blueprint for closing a loan
What’s a rate credit?

Being a Problem Solver

Problem: What should you do if someone has bad credit?
Problem: What can you do if someone is just short of a minimum credit score?
Problem: What options do I have if my borrower only has W2’s to show or only tax
Problem: What if I add a co-borrower and they have a low credit score?
Problem: How do I address a large deposit on my borrowers bank statement?
Problem: If my borrower is short on funds to close what options do I have?
Problem: What if I am doing an FHA loan and the home needs repairs?
Problem: What if my borrower doesn’t have a job or income but has assets?


What types of lenders should I get approved with?
Lender application submission checklist
Using Scotsman guide to find lenders
What is BRAWL and why is it important?
This is a list of great lenders to work with and their loan programs
Time requirements on documents to comply with all laws


How to hire mortgage loan originators and how to pay them
MLO pay structures
Offer letter
Hiring agreement and contract
Allowing mortgage loan originators access to pull credit
Obtaining a prequal link for loan originators to use
MLO background checks and process
Mortgage loan originator quality control checks
Your customers are your mortgage loan originators: Treat them fairly


Getting a loan origination software
Calyx Point overview
Choosing a credit company
Credit report company review and office inspection
Pulling credit reports overview
In-house processor vs Outsourcing vs Processing your own loans
What does processing mortgage files entail?
Preparing company financials
Profit and Loss Statement and Balance sheet


Digital file management and sharing for the office and employees
“Ubering your business”
The power of Zoom and other video conferencing services
Virtual office vs physical office
Hiring a branch manager
Fraud prevention
Quality control plan
Compliance worksheet
Opening multiple mortgage branches/offices


Saving digital files in case of an audit
Saving Fannie Mae 3.2 files
Choosing a CRM
Review websites
Creating a mortgage website
Creating an exit plan: Taking yourself out of the equation
Do I ever have to return lender paid compensation?
Differentiate yourself as a mortgage business
Thank you and let me know if you have any questions!

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