Gelt Financial loves working with Mortgage Brokers, and a very common question is how they get paid. This very short video answers that question.
“Jack: Michael, how do Brokers get paid?
Michael: Well, we allow the Brokers to charge the clients whatever they agree upon. We’ll put it on the term sheet. They get paid on the HUD at closing.
Jack: That simple.
Michael: That simple.
Jack: Brokers tell you how many points they want to pay.
Michael: Yep.
Jack: We put it on the HUD of closing.
Michael: Yes.
Jack: The title company wires them the money.
Michael: Absolutely.
Jack: It’s that simple. That’s how Brokers get paid, nothing to it, right? All Brokers need to do is go out and get the deals.
Michael: And also, if they ever have issues with selling our product, I’m happy to jump on a call. We can go over it with their client with them. If there’s any questions, we can iron it out right there.
Jack: And we do the processing.
Michael: Yeah.
Jack: Brokers should look at themselves as like toll gates. If someone needs something and they can get them, they’re going to get paid for it. If you can be a toll gate in this world, you’re going to be fantastic. People will pay you for what you need, and you’ll make a lot of money. So, it’s that simple. That’s—
Michael: Finding us is invaluable. We can close quickly. We do what we say, so I think it’s worth a lot to them.
Jack: Okay, Michael, that’s it. That’s how Brokers get paid. Take care. Have a great day. Remember, “When your bank says no, we say yes.” Check us out at gelfinancial.com.”
Category: Mortgage Brokers
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