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#18091 - 07/27/06 12:39 PM
50% commission on loan for REFERRAL!
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Junior Member
Registered: 07/27/06
Posts: 6
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I am a Mortgage Banker, licensed in over 40 states and am seeking a business partnerships in which I split my loan commission with you!
Get 50% of my commission just for the referral! Average broker commission is $5,000-$12,000!
Now you can get paid on the sale and on the financing!
I have over 10 years experiance and can lend in all scenarios...Bad Credit, No Credit, No Income, etc.
Lets work out a business plan where we can both make money!
If you are interested plese contact me via email so I can call you and discuss your options in detail!
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#18092 - 07/27/06 12:43 PM
Re: 50% commission on loan for REFERRAL!
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Veteran Member
Registered: 06/08/05
Posts: 899
Loc: Colorado Springs
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How are you able to do loans from jail?
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#18094 - 07/27/06 12:46 PM
Re: 50% commission on loan for REFERRAL!
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Junior Member
Registered: 07/27/06
Posts: 6
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Carla, so are you interested?
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#18095 - 07/27/06 12:50 PM
Re: 50% commission on loan for REFERRAL!
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Junior Member
Registered: 07/27/06
Posts: 6
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My business is valuable Greg, I don't sleep on my clients, they get their loans closed. This is what I do and im not going to make .25% on a loan for working on it.
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#18096 - 07/27/06 02:48 PM
Re: 50% commission on loan for REFERRAL!
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Veteran Member
Registered: 10/29/04
Posts: 794
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I don't sleep on my clients You sleep with them?
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#18097 - 07/27/06 03:38 PM
Re: 50% commission on loan for REFERRAL!
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REO Slave
Major Contributor
Registered: 02/04/06
Posts: 1715
Loc: USA
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Hahahaha
_________________________
"There are people who make things happen, there are people who watch things happen, and there are people who wonder what happened. To be successful, you need to be a person who makes things happen.." - James Lovell- Astronaut
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#18098 - 07/27/06 03:53 PM
Re: 50% commission on loan for REFERRAL!
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Junior Member
Registered: 07/27/06
Posts: 6
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You guys must be real professionals.
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#18099 - 07/27/06 04:01 PM
Re: 50% commission on loan for REFERRAL!
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Member
Registered: 02/23/06
Posts: 84
Loc: Sacramento, California
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#18100 - 07/27/06 07:21 PM
Re: 50% commission on loan for REFERRAL!
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Member
Registered: 07/16/04
Posts: 2899
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Originally posted by grigerny: You guys must be real professionals. You ought to read this before you start smarting off: Violations of Section 8's anti-kickback, referral fees and unearned fees provisions of RESPA are subject to criminal and civil penalties. In a criminal case a person who violates Section 8 may be fined up to $10,000 and imprisoned up to one year. In a private law suit a person who violates Section 8 may be liable to the person charged for the settlement service an amount equal to three times the amount of the charge paid for the service.
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#18101 - 07/27/06 07:41 PM
Re: 50% commission on loan for REFERRAL!
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REO Slave
Major Contributor
Registered: 02/04/06
Posts: 1715
Loc: USA
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Where did the comedian go???
The fact that they don't know/think that it's illegal to do this is sad, expecially since they claim to have been in business for 10+ years.
_________________________
"There are people who make things happen, there are people who watch things happen, and there are people who wonder what happened. To be successful, you need to be a person who makes things happen.." - James Lovell- Astronaut
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#18102 - 07/27/06 08:13 PM
Re: 50% commission on loan for REFERRAL!
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Junior Member
Registered: 02/21/06
Posts: 5
Loc: NW Indiana
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What I understand this to be, and I have heard other mortgage people state this, there are 13 steps that are identified in the mortgage process. And, if someone were to do at least 5 of these steps they could be entitled to a fee. One step is ordering Title work or attending the close. Simple, but I would suggest reading more in depth.
_________________________
A man and office that is different.
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#18103 - 07/27/06 08:27 PM
Re: 50% commission on loan for REFERRAL!
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Member
Registered: 07/16/04
Posts: 2899
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Originally posted by PWRAgent: What I understand this to be, and I have heard other mortgage people state this, there are 13 steps that are identified in the mortgage process. And, if someone were to do at least 5 of these steps they could be entitled to a fee. One step is ordering Title work or attending the close. Simple, but I would suggest reading more in depth. Please show us where it says this in an official source.
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#18105 - 07/27/06 08:52 PM
Re: 50% commission on loan for REFERRAL!
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Member
Registered: 07/16/04
Posts: 2899
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(edit) Grigerny's proposal is still illegal for at least 3 reasons. See my discussion a few posts further down in this thread.
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This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.
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Registered: 11/03/07
Posts: 2335
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