Click now to begin the first steps toward your certification. Take advantage of the rewards that being a LOANPRO certified real estate professional has to offer.
Frequently asked questions
1. The LoanPro Program
How is LoanPro's system different?
Is more work involved on my part?
May I earn more on each transaction?
May I use the LoanPro logo in my marketing material?
2. Legal & Compliant
3. LoanPro Certification
What kind of training do I need?
What are the steps to get licensed and certified?
May we submit loans before getting licensed?
What are the costs associated with the program?
4. Getting Paid
How do I receive my commission?
May I get paid directly from the title company?
5. LoanPro’s Product Offering
What kind of loans may I offer?
What is the best loan for my client?
6. LoanPro System
1. The LoanPro Program
The LoanPro system was designed specifically for you, the real estate professional. Through a proven system of utilizing your current skills and your client’s relationship, you become their trusted mortgage advisor. LoanPro provides the loan structuring and back office processing support so you can focus on what you do best, building relationships with your clients and close their transactions on time. LoanPro allows you to make a commission on the transaction or pay a portion of the closing costs for your clients, all the while being fully RESPA compliant. For complete guidelines of RESPA and Section 8 please Click Here
How is LoanPro’s system different?
Loan Pro's system removes the traditional loan officer and places the real estate agent in control with direct communication throughout the mortgage process; wasting time is a thing of the past. By allowing access to your pipeline 24/7, you are informed and can make sure the process is going smoothly. Through state of the art software, you and your clients are able to upload any documentation needed and you will be able to see the progress of the loan file as it is updated. Through our access to hundreds of loan products you are not stuck with being able to offer your clients only minimal choices. This process allows you to offer more products, better value and efficiency, as well as, lower costs.
Is more work involved on my part?
Minimal. LoanPro realizes that in the past you have done the lion’s share of the work only to hand your client off to a traditional loan officer who is really only a sales person. Since you have already done most of the work in building your client’s relationship, the next step is to have you or your client complete a short online application. This is comprised mostly of basic borrower information you already have. Furthermore, you may need to gather a few documents from your clients (which most real estate professionals already do). You have known all along that if given the right opportunity and company to work with, you could control the process from start to finish. Well, that company is now here: LoanPro.
Yes. In most states, in order for LoanPro to pay you, each real estate professional must be licensed by their respective entities that regulate licensing. Any fees associated with the process are fully reimbursed by LoanPro upon your first successful closing. In addition to the license, we will assist in getting a surety bond, if required. The procedure is simple and we have all the sources to make the licensing process streamlined for you.
LoanPro structures a portion of the loan amount, a commission, on each transaction for you to use at your discretion. You can either take the commission or choose to pay a portion of your client’s closing costs, the choice is yours.
May I earn more on each transaction?
No. LoanPro wants to keep your client’s closing costs as low as possible so you can present one of the most affordable loans in the market. We have structured our loan fees as low as possible so your client will remember you for their next transaction and refer you to their friends. Typically, once you send the loan off to a traditional loan officer, your client ends up being theirs (or losing the client) and you may never see them again. Now, being LoanPro certified, your client is “your” client and there are no more missed opportunities—or having someone else directing your client to another real estate agent in the future.
May I use the LoanPro logo on my business cards or other marketing materials?
Yes, we encourage this. Once you are LoanPro certified you may use the logo on all your promotional material and business cards. When your client sees the LoanPro logo they will know that they are getting the best service and loan available. Furthermore, LoanPro certification and branding associates you with an expanding number of real estate professionals in your state.
2. Legal & Compliant
Yes! It is legal and compliant with RESPA as long as you maintain your proper licensing status in your state and you perform certain and actual work on each transaction. For complete guidelines of RESPA and Section 8 please Click Here
Will I have to disclose my fees to my client?
Yes. All the fees must be fully disclosed to the client and listed on the HUD Settlement Form. A Good Faith Estimate, a Mortgage Loan Origination Agreement, and an Affiliated Business Arrangement along with any other state specific documents, in addition to the normal loan disclosures must be signed by the client and will fully disclose your position.
3. LoanPro Certification
What kind of training do I need?
You will go through our no cost LoanPro training certification. The LoanPro training certification takes less than two hours and covers all you need to know to succeed with our program. In some states you may be required to attend a licensing agency sponsored class as a licensing requirement. Please contact us for state specific details.
As a part of our certification you will be trained on 24/7 access to your pipeline, the gathering of necessary loan documents, and any other legally specified state specific requirements.
What are the steps to get licensed and certified?
We guide you through all the required steps such as a background check, licensing, obtaining a surety bond, and any other state specific procedures. This is similar to the real estate licensing processes in many states, some without taking any tests. You will attend training and get set up in the LoanPro system. Lastly, we will guide you through your transactions to ensure that all runs smoothly.
May we submit loans before getting licensed?
Yes. In most states you may, but you must initiate the licensing process before being able to submit loans through LoanPro. Depending on the state, until you are fully licensed you may only be able to offer a credit to your client to offset some closing costs.
What are the costs associated with the program?
LoanPro does not charge for the certification process. The licensing and bonding fees will generally be $450-$500 depending on the surety bond if required by your state. These fees are fully reimbursed by LoanPro after your first successful loan closing. We will reimburse your fees before licensing is finalized if you happen to close a transaction during the interim process.
4. Getting Paid
How do I receive my commission?
If you choose not to pay a portion of your client’s closing costs, you will receive a check within 24 hours of the funding. You will be required to fill out a form that allows LoanPro to pay you 1099 income at the time you attend the LoanPro certification training.
May I get paid directly from the title company?
No! LoanPro will disburse all commission checks once the transaction has funded and this keeps accounting accurate.
5. LoanPro’s Product Offering
What kind of loans may I offer?
LoanPro has hundreds of products for you to offer your client’s; that is one of the huge advantages of our system. Each real estate professional will have a designated account representative and processing team that are familiar with the loan products being offered. We do in house loan structuring and processing to allow you to focus on your job of finding and maintaining your client’s. The pre-qualification process is simple, and alleviates the hassle of knowing the myriad of loan products which, in turn, is the job of our loan structuring and processing department.
What is the best loan for my client?
With each client comes a different need. Your discussions with your client will lead you in the right direction and your designated account representative along with our support team are there to help and assist in any way possible. Based on your discussions with your client, your loan structure advisor will come up with many scenarios for you to offer.
6. LoanPro System
Click here and after completing the form you will be contacted by an account representative to give you the details of the process and training schedules.
