Username:       Password:     
 

Frequently asked questions

How can I set up branch?
We hire experienced loan officers or existing broker-owners as Branch Managers to assist us in setting up and managing a Camino Real Mortgage Bankers’ branch. We will hire and sign contracts with all loan officers, processors and other employees needed to run the branch; we will pay the loan officers a commission split based on experience and volume; we have production incentive programs that include a bonus for the Branch Manager based on the profitability of the branch.
 

How long does it take to set up a branch?
Assuming that all required documents are complete and legible and all Loan Officer licensing requirements have been met, it takes our HR department 1-3 business days to conduct necessary due diligence and approve a new Loan Officer or Branch Manager.
 

Do you hire processors at the branch?
We do have quality, competent processors available at the corporate office, but if volume warrants it, we will hire processing staff at the branch.
 

Can I use contract processing?
Camino Real Mortgage Bankers will only allow company processors (either corporate or branch) to process the loans; If you know a loan processor with the required experience and the branch production warrants it, we will interview the recommended processor for employment; if the application is approved by our HR department, we will offer the processor a position with Camino Real Mortgage Bankers.
 

How long does it take to get paid?
Our payroll department pays regular payroll and loan officer commissions on a weekly basis, assuming that all payroll procedures are followed; production incentive bonuses are paid once a month.
 

Can I use my own business name?
We do not do “Net Branch” agreements, this is against HUD regulations; all branches are Company owned and operated branches, supervised by Camino Real Mortgage Bankers’ corporate officers and Branch Managers.
 

Do you provide loan origination software?
Yes - We provide the LOS to all Camino Real Mortgage Bankers’ Branch Managers, Loan Officers and Processors. See SOP for more details.
 

Can I work out of my house?
There are no restrictions as to where a loan officer is physically sitting at the time (s) he enters borrower data, it could be at the Loan Officers home, the clients home or a Real Estate Office; however all loan files, including income, asset and any other borrower documentation must always be kept at a licensed location and at our company’s servers.
 

Do I have to disclose YSP?
Camino Real Mortgage Bankers is a residential mortgage banker; mortgage bankers do not earn YSP.
 

I already own/ work-for a mortgage company. Can we use Camino Real
Mortgage Bankers for our FHA loans only?
Working for more than one lending institution is considered a violation of federal regulations, you must resign to any previous employer or terminate all existing Independent Contractor’s relationships; Camino Real Mortgage Bankers’ Loan Officers cannot work for any other Lender or Broker.
 

Are there minimum production requirements?
We like to see that a loan officer averages at least one loan every 60 days and a branch closes more than 1.5 Million in production.
 

Do I have to train the Loan Officers at the branch?
Branch Managers’ primary function, among other things, is to produce, mentor and assist in the supervision of Loan Officers; the corporate office is primarily responsible to conduct training sessions on Compliance and Lending Guidelines for all Loan Officers, as well as all licensing, payroll and HR issues.

NEWS