MortgageAdvisorNetwork is compliant with the Real Estate Settlement Procedures Act (RESPA), a federal consumer protection statute. You will be paid a flat fee of $500 regardless of the transaction size. You are paid for the services that you perform.

RESPA prohibits kickbacks and referral fees among settlement service providers that could unnecessarily increase the cost of settlement services to consumers. It is also illegal for anyone to accept a fee for services if that person has not actually performed settlement services. RESPA does not prevent those who actually perform a service in connection with the mortgage loan or the settlement from being paid for the reasonable value of their work.

To ensure compliance you must complete our online training program and assist your clients with at least ten of the required tasks—things such as counseling on available loan programs, assisting with the application, and providing certain disclosures, etc. We provide all the resources you need to easily assist your clients.

Your job is to gather the initial loan information and maintain contact with the buyer. You will be completely supported by our team of experts who will process, underwrite, and close the loan. Our automated approval system approves about 75% of all buyers. For tougher loans, we recommend you continue to work with a local loan officer that specializes in hard-to-qualify borrowers or one of our referral sources for these types of loans.

Mortgage loans are available nationwide, with the exception of the following states where we are actively pursuing licensing: Nevada, New Jersey, and Pennsylvania. (However not all states allow the Mortgage Advisor Network program to employ real estate agents.)