BrokerVA is the first and only compliant virtual assistant staffing company for mortgage brokers. Save 70% on support costs for licensed activities like pre-qualifying and processing with experienced mortgage professionals.
That's right, we give you the downloadable guides, SOP's, and best practices you need to structure your support staff. Remember, there are three activities in all origination businesses that are the best for delegation because they are trainable, repeatable, and core to your business: Follows up, Prequals, and Processing.
You might look at these as jumbled mix of interconnected tasks, but in-fact they are definable modules. With the right SOP's, BrokerVA’s produce excellent results. This course gives you everything you need to instantly have your structure and documentation in place... and it's free to sign up below.
We bet we can answer most of them here in our FAQ's.
First, there is no contract, everything is MTM. There is no setup fee or cancellation fee. There are two pricing tiers:
• Processors (full-time only)
• LOA's (full-time only)
You can split the cost of a BrokerVA as many ways as you would like as long as you are sharing them with a team that is on the same LOS systems and with the same broker.
You will need to schedule a call with us to learn more. We save 70% of US-based support costs.
Most states require an LOA or Processor be individually licensed or work directly (in the US this is a W2) for a licensed company. The term "direct" does not just mean a W2, you can also directly hire overseas workers when you are incorporated in a target country, with a branch office, and operating as a direct employer. That's exactly what we've done. Without this, brokers are simply employing an overseas worker as contract labor, and this is technically against the law. More and more states require brokers to disclose all contract labor during an audit. But don't worry, you can disclose that you work with us because we are compliant (see states).
Licensed: AZ, CA, CO, FL, GA, ID, IL, MI, MN, NC, NM, OH, OR, PA, SC, TN, TX, VA and WA Coming Soon: LA, MO, and UT
No, our BrokerVA's are essentially dedicated employees. You can split a BrokerVa and share the cost of a BrokerVA with another loan officer as long as they are within the same brokerage and share the same LOS.
Their skills are typically acquired working for Direct Lenders and Banks. Remember, BrokerVA is the only (that we know of) company to compliantly delivers overseas talent to the broker market, but banks and direct lenders have been using them for years. The upside is this: BrokerVA's speak the language of loans. They are processors, underwriters, closers, and LOA's. We put our new BrokerVA's through a 2-week boot camp to learn your LOS (Arive or Lending Pad), processing for major lenders, and shadowing someone who is already doing the job.
We sure do. Remember, all employees, no matter where they reside or where they come from, need a ramp period. We have staff dedicated to ongoing support for things like calculating income, structuring files, processing with wholesale lenders, and scripting borrower outreach (conditions, etc).
You need to simply do the things that any great employee would do - be prepared and spend the time to create a great workplace for your BrokerVA. Remember, this isn't contract processing. This is not plug and play. This is you bringing onboard a full-time employee that is dedicated to you, running on your systems, reporting to you, and taking specific direction from you on everything they need to be successful. If you do this right, you will unlock something invaluable - scale, leverage, growth, and money. You can do it!
That is up to you. You can use tools like Zoom, Slack, and Teams to have your VA available by video, text, and phone call during business hours. We provide them with a US phone number so you can call and text like normal.
You are billed on the day that you sign up and then billed again every 30 days thereafter. For example, if you sign up on August 22, you will next be billed for your plan on September 22. Your card will be automatically charged each month unless you cancel your plan by phone.
Whether you use Calyx Point, Lending Pad, Arive, or another LOS, your LOA can work out of your LOS system in addition to the lender portals where you send your loans.
Yes. In fact, in most cases your borrower's information is more secure compared to the current policies and procedures taken by support staff in the US. Each one of employees:
No problem, book a time with one of our GrowthVA's or go through our free Loan Officer Course. These resources will help you think through your journey in growing your origination business.