Concierge Mortgage Banking Partnership Program Overview
Agenda
• Introduction
• The State of Real Estate 2024
• About Capital Mortgage Services
• About Capital Federal Credit Union
• Concierge Mortgage Banking Program (CMB)
• CMB Vision and Mission
• What is Concierge Mortgage Banking
• Business Opportunity for Agents
• Compensation Plan
• Mortgage Programs We Offer
• How to get started
Eric L. Frazier MBA
• National Director of Business Development NMLS #4618078
• Creator of the CMB Program with Capital Federal Credit Union.
• California Real Estate Broker & Agent (DRE 01143484) for over 32 years,
• State and Federally licensed Mortgage Banker (NMLS #461807) for the last 43 years.
• Licensed HUD approved counselor
• Founder, President and CEO of The Power Is Now Media Inc., a national multimedia education company founded in 2009
• Graduate of the University of Redlands and has a master’s in business administration with an emphasis in Finance and a Bachelor of Science in Business Administration and Management
• Married for 43 years, 4 Daughters all homeowners and College Graduates
• 5 Grand children
• Author, speaker, poet, media, business, personal and life coach.
• Minister of the Gospel, Ordain pastor and teacher for 43 years
State of Real Estate 2024
1. Erosion of Trust: The NAR lawsuit has led to increased skepticism among clients regarding the integrity of real estate practices, which undermines the credibility and trustworthiness of agents.
2. Market Volatility: The aftermath of the Great Financial Crisis has exposed agents to unpredictable market fluctuations, resulting in inconsistent income and heightened pressure to perform.
3. Increased Competition: Agents are facing intensified competition from technology-driven platforms that offer alternative services, challenging traditional commission structures and the perceived value of agents.
4. Low Inventory and Sales Volume: Ongoing challenges with low housing inventory are limiting agents' ability to close deals, which directly affects their income potential and overall market activity.
5. Need for Diversification: Many agents are seeking ways to diversify their income streams but often struggle to find effective avenues to expand their roles beyond traditional sales.
Capital Mortgage Services
• Siwell, Inc. dba Capital Mortgage Services NMLS 149169. Royce and Linda Lewis grew company
• First time home buyers
• Move Up buyers
• Jumbo and Portfolio Loans
• Licensed by the Department of Business Oversight under the California Residential Lending Act
• Royce and Linda Lewis grew Capital
• Down Payment Assistance
• Investors and fix and flip
• VA, FNMA, FHLMC, USDA
• Non-QM Loans
• 3.5-billion-dollar servicing portfolio, with clients across the 50 states and the Virgin Islands.
• 38 years of success in an industry where longevity is a rarity.
• Loans for all types of clients!
• Originate loans nationwide
(CMS) Capital Mortgage Services
• CMS wanted to serve the low to moderate income communities and underserved in Lubbock Texas.
• Created CFCU 10/27/2021
• CFCU started the National MLO Program to train MLOs in underserved communities.
• Eric L. Frazier created the CMB program to focus on Real Estate agents to achieve the same objective and more.
Capital Federal Credit Union Charter
• Capital Federal Credit Union will provide services to a multiple common-bond field of membership that will include:
• Employees of Capital Mortgage Services of Texas,
• Members of the League of United Latin American Citizens — Lubbock, Texas Council #263.
• The underserved portion of Lubbock County consisting of 39 census tracts.
• The credit union will work to obtain the low-income credit union designation by focusing on serving the Latin American population in the underserved area.
• During its first year of operation, Capital Federal Credit Union is providing its membership with essential credit union products and services, including:
• Regular share (savings) accounts
• Vehicle loans
• Personal loans
• Online banking
• Mobile banking
• Capital Federal Credit Union later plans to offer checking accounts and debit card access.
• Capital Federal Credit Union is the third federal credit union chartered in 2021.
• 2 years later (2024) and all goals have been achieved.
• The CMB Program is the latest strategy to achieve the mission.
Concierge Mortgage Banker Partnership Program
Concierge Mortgage Services for real estate agents and their clients
Real Estate Agents and Brokers
• Real Estate Professionals have more experience with the real estate transactions and financing real estate than the retail banker sitting on the bank floor taking applications.
• Real Estate Professionals have the relationship with the borrower. Not MLOs
CMB Vision and Mission Statement
• Vision: To be recognized as the leading Credit Union in the U.S. for real estate loan origination, innovation, strategic partnerships with top real estate firms and for our VIP level of concierge customer service in the CMB program.
• Mission: To empower real estate agents and their clients by providing seamless, accessible, and competitive loan products through a dedicated team of seasoned lending professionals supported by great communication, technology, and a commitment to an Agent Centric Environment of high performance, perfect execution, extraordinary customer service and closing on time.
What is Concierge Mortgage Banking?
• Concierge Level of service for you and your clients means:
• A VIP level of service of mortgage and consumer banking products and programs for the clients of real estate professionals.
• Complete access and transparency throughout the entire loan process for real estate professionals.
• A dedicated Loan Officer Assistant to take applications, price, package, process, fund and close every loan.
• Direct communication and access to processors, underwriters, closers and funders throughout lending process.
• Become a team member of CFCU and earn 50 bps (basis points ) on every funded loan - (1/2 of 1% of the loan amount 1% = 100 bps)
• Obtain a Federal NMLS License to originate loans in 50 states without taking the NMLS exam or pre-licensing education requirements.
The Top 10 Reasons to be a CMB
Stop leaving money on the table
The Top 10 Reasons to be a CMB
1.Elevate Your Profile as a Real Estate Agent: By joining the CMB program and working with a Financial institution like a Credit Union, you become more than just a real estate agent—you'll also be seen as a trusted financial advisor. Your clients will rely on you not only for their home purchase but also for mortgage and refinancing advice.
2.No Need for State Licensing Exams: With Capital Federal Credit Union, you can obtain your mortgage license without having to take the traditional state exams. This streamlined process gets you licensed faster so you can start originating loans in no time.
3.Originate Loans Nationwide: As part of CFCU, you’ll have the ability to originate loans in all 50 states. Whether your client is buying locally or relocating across the country, you can assist them wherever they go, ensuring no opportunity is missed.
4.Referral Opportunities Across State Lines: Not only can you originate loans nationwide, but you can also refer clients to agents in other states. This allows you to earn not just from the referral, but also from the loan, maximizing your income potential.
5.Deepen Client Relationships: With CFCU, you can help your clients with everything from home equity loans, personal loans, lines of credit, auto loans, and even online banking services. You’re providing more than just a home; you’re offering a complete financial package you solidify yourself as a trusted advisor in their financial journey. This means long-term relationships and continued business.
The Top 10 Reasons to be a CMB
6. Another Stream of Income: As agents, we bring so much business to banks and mortgage companies, but most of them won’t hire us to originate loans. With CFCU, that changes. Now, you can get licensed in weeks and create another stream of income on the loans you originate.
7. Get Paid every 30 Days: Once you're licensed, you can start earning immediately. We can close a purchase in 17 days and a refinance in 21 days. This quick turnaround allows you to see the financial benefits of your hard work faster than ever.
8. Boost Your Broker’s Bottom Line: Not only do you benefit, but your broker does too! For every loan you originate, you’ll earn 50 basis points, and your broker will receive an additional 10 basis points as your partner and manager.
9. Supportive Infrastructure: CMB offers dedicated Loan Officer Associates to manage the loan process, freeing agents to focus on sales while ensuring their clients receive a high level of service.’s a win-win for you and your real estate firm.
10.CFCU Concierge Mortgage Banker (CMB) Program: By becoming a CMB you increase your value proposition to your clients and Buyers’ and save them time. One less person for your clients to communicate with.
Business Opportunity for Real Estate Agents
Business Opportunity – CMB
• Real Estate Agent Commissions (CMB): 50 basis points on your production.
• Real Estate Broker Commissions: 10 basis points on their agents' total loan volume and 60 basis points on their production.
• Team Leader Overrides: 10 bps on their teams' production. Required to have recruited 50 qualified agents in their team. 65 bps on their production.
• Sales Manager Overrides:
• Sales Managers receive 15 bps overrides on their agents' total production volume and 75 bps on their production. Required to have100 agents on the team.
• Dedicated Loan Officer Associate:
• They receive 40 bps on each loan. This allows you to offer mortgage services without adding an additional workload.
• All agents will have a dedicated Loan Officer Associate who will handle all communication and status reports for your clients' loans from start to finish.
• We want you to be a great agent, not a loan officer.
• Utilize your dedicated loan officer associate to manage your clients.
Business Opportunity – CMB
• Default Services Network:
• As a CFCU team member and agent, you automatically become a Capital Mortgage Servicing Agent Network member for real estate default servicing professionals
• You will have opportunities to work with our servicing department on properties in your market area.
• Capital Mortgage Services has a $3.5 billion portfolio of loans nationwide, including REOs, short sales, BPOs, and other activities.
• Note: Opportunities are limited at the present time. Delinquencies are low.
Business Opportunity – CMB
• Capital Federal Credit Union desires strategic partnerships with real estate agents, brokerages, franchises, and real estate trade associations nationwide to offer their clients competitive loan origination services through CFCU and to receive compensation.
• In return, CFCU benefits by having a presence in the agent's marketplace to originate mortgages and sell other CFCU financial services and products.
The collaboration will include:
• Co-Branding Opportunities: Joint marketing efforts that highlight the partnership between CFCU and real estate professionals, large real estate organizations and national real estate associations.
• Streamlined Loan Processing: CFCU will provide a concierge loan processing experience, making it easier for agents to assist their clients and close transactions.
• Banking Services: Agents can offer: Auto Loans, Personal Loans, Debit Cards, Online banking services.
• Servicing opportunities: Qualified real estate professionals can assist the loan servicing department with REOs, Short Sales, BPOs, and other default services opportunities as they will occur and any lead generation that may come from the Credit Union in your market area.
Business Opportunity – CMB Credit
Union Membership:
• As a member of the Credit Union, you will have all the rights and privileges of a traditional loan officer, including:
• Inclusion on Capital Federal Credit Union website
• Receive Capital Federal Credit Union Employee Email account.
• CMB Mortgage Application website – Your clients apply online.
• As a License MLO you have access to loan pricing, credit reports, applications, underwriting details, and appraisal reports - Just like a traditional MLO
• Direct access to communicate with underwriting, processing, doc drawing, and funding and to senior management – Just like a traditional MLO
• As a team member you receive discount mortgage services, free checking accounts, auto loans, and online banking.
Compensation Plan
Production Estimates based on one loan per month and average loan amount of $500,000.
Agent Compensation
• Units per Month: 1
• Average Loan Amount: $500,000
• Total Volume per Month: $500,000
• Personal Earnings: $2,500
• (50 bps)
• Total Annual Earnings: $30,000
• Units per Month: 3
• Average Loan Amount: $500,000
• Total Volume per Month: $1,500,000
• Personal Earnings: $7,500
• (50 bps)
• Total Annual Earnings: $90,000
Team Leader Compensation
• Team Leader Mgr Units: 1 loan per month
• Agent Units: 1 loan per month
• Average Loan Amount: $500,000
• Team Leader Earnings: $3,250 (65 bps)
• Team Leader Earnings Annually: $39,000
• Production: 10 agent x 1 Loan
• Loan per month 10
• Team Production:
• $5,000,000 Funded Loan Volume
• Team Sales Manager’s Earnings:
• $5,000 (10 bps)
• Total Annual Earnings: $60,000
• Total Annual Comp: $99,000
• Team Leader Units: 1 loan per month
• Agent Units: 3 Loans per month
• Average Loan Amount: $500,000
• Team Leader Earnings: $3,250 (65 bps)
• Team Leader Earnings Annually: $39,000
• Production: 10 agents x 3 Loans
• Loans per month 30
• Broker Team Production:
• $15,000,000 Funded Loans Volume
• Team Leader Earnings:
• $15,000 (10 bps)
• Total Annual Earnings: $180,000
• Total Annual Comp: $219,000
Broker/Owner Compensation
• Broker/Agent Units: 1 loan per month
• Agent Units: 1 loan per month
• Average Loan Amount: $500,000
• Broker’s Earnings: $3,000 (60 bps)
• Broker’s Earnings Annually: $36,000
• Production: 10 agent x 1 Loan
• Loan per month 10
• Broker Team Production:
• $5,000,000 Funded Loan Volume
• Broker Team Earnings:
• $5,000 (10 bps)
• Total Annual Earnings: $60,000
• Total Annual Comp: $96,000
• Broker Units: 1 loan per month
• Agent Units: 3 Loans per month
• Average Loan Amount: $500,000
• Broker’s Earnings: $3,000 (60 bps)
• Broker’s Earnings Annually: $36,000
• Production: 10 agents x 3 Loans
• Loans per month 30
• Broker Team Production:
• $15,000,000 Funded Loans Volume
• Broker Team Earnings:
• $15,000 (10 bps)
• Total Annual Earnings: $180,000
• Total Annual Comp: $216,000
Sales manager Compensation
• Sales Manager Unit: 1 loan per month
• Average Loan Amount: $500,000
• Brokers Units: 1 Broker x 1 loan: 1 loan
• Agents Units: 10 Brokers x 10 agent units: 100
• 1 funded loan x 100 agents = 100 Funded loans
• Sales Team Production: $50,000,000
• 100 Funded Loan
• Sales Managers Earnings: $3,750 (75 bps)
• Sale Managers Earnings: $75,000 (15 bps)
• Total Annual Override Earnings: $900,000
• SM Annual Earnings: $45,000 (Personal production)
• Total Compensation: $945,000
• Sales Manager Unit: 1 loan per month
• Average Loan Amount: $500,000
• Brokers Units: 1 Broker x 1 units: 1 Loan
• Agents Units: 10 Brokers x 10 agents: 100 Loans
• 3 funded loan x 100 agents = 300 Funded Loans
• Sales Team Production: $150,000,000
• 300 Funded Loan
• Sales Managers Earnings: $3,750 (75 bps)
• Sale Managers Earnings: $225,000 (15 bps)
• Total Annual Override Earnings: $2,700,000
• SM Annual Earnings: $45,000 (Personal production)
• Total Compensation: 2,745,000
How to Get Started
How to Get started
• A one-time setup fee of $150.00
• A monthly membership fee of $75.00 for training, administrative support.
• The fee can be paid quarterly at $202.75 per quarter or $725 per year.
• This is a commission only business opportunity.
• There is no salary or draw.
• You are responsible for 100% of all marketing expenses to originate loans.
• Your production expectations are 1 closing and 3 preapproved or refinance applications per month.
• You must close one loan per quarter to stay in the program
How to Get started
• Obtain an individual license first with the NMLS.
• When applying, please note that you will work for a Federal depository, not a State depository.
• You will be an employee and not an independent contractor.
• NMLS and CFCU will order background checks. Here is the link to get started with the NMLS.
• As soon as the NMLS application is completed and the background check is ordered, please complete the employment application
• Call George Watson, Senior Loan Officer Associate, Cell 304-610-4634 or email gwatson@capitalfcu.org
How to Get started
• For onboarding with the NMLS and CMBP application:
• Camisha Etherege Barton, National Sales Administrator, Cell: 770-771-9876
Email: cbartonetheredge@capitalfcu.org
• Zach Johnson, Membership Services and Data Solutions, Office: 800- 6424400 Email: zjohnson@capitalfcu.org
• For Operations and Program Support:
• Bill Cohen, National Sales Director, Cell: 806-777-5576 Email: bcohen@capitalfcu.org
• For Marketing Materials and Strategy Support:
• Teresa Gobrecker, National Director of Growth and Operations, Cell: tgrobecker@capitalfcu.org
How to Get started
• Minimum production requirement:
• 30-day Probation: 1 preapproval, real deal purchase transaction or refinance required at the time of onboarding or within the first 30 days employment.
• Exception is required if you do not have a loan at the time of onboarding .
• 90 – Performance Review: 1 funded loan per quarter and 3 preapproved application or refinance application per quarter.
• Failure to achieve the minimum production standard will result in termination from the program.
• 10-, 15-, 20-, and 30-Year Fixed Rate Purchase or Refinance
• FHLMC Programs
• CHOICE Renovation Mortgages From Freddie Mac
• Single Close Construction Loans
• Veterans Administration (VA) Loans
•Non-QM
•Debt Service Coverage Ratio (DSCR) Loans
•Fix & Flip Loans
•Bank Statement Loans
•Non-QM (Portfolio Jumbo and Conforming Programs
•Bank Statements
•Asset Depletion
•DSCR
•1 Year tax returns
•Business Purpose
•Interest Only
•No max cash-out
•Greater than $4 Million
•LLC or Trust are OK
•Cross Collateral is OK
•Lite Doc Non-QM
•Foreign Nationals OK
•Bridge Loans
•Individual Tax Identification Number Loans (ITIN)
•Cap Express Loans - Limited Income Documentation Loans
• Conventional Jumbo Purchase or Refinance
• Mortgage Program Highlights Jumbo Loans:
• Loan Amounts up to $3 Million
• Approval with a FICO score as low as 660
• 90 LTV up to $1 million with at least a 700 FICO score
• 1-4 Family Home, PUD, Condo & Co-Op
• 30 Year Fixed & ARM available
• Available for Primary Homes, Vacation Homes, Investment Propertie s & More.
• Single Family Homes, Condominiums and 2-Unit homes are all eligibl e for financing. If you are financing a 2-unit home the borrower must occupy one of the units
How to Get Started
Real Estate Agent Employment
• The following are conditions of employment to be Real Estate Agents in the CBM program:
• Real Estate Agents:
• 30 Probation period
• Must be an active full-time or part time real estate agent/broker
• You must have a preapproval or real deal client or refinance transaction now to start the program
• Broker/owners who bring their team are excluded from this requirement
• We will conduct quarterly performance reviews after the first 30-days of employment.
• Minimum production requirement – Every 90 Days:
• Originate 6 preapprovals or refinance applications per quarter
• Fund a minimum 1 loan per quarter
• Target Production Goal:
• 3 preapprovals or refinance application per month
• Fund 1 loans per month.
• Complete all bank compliance requirements and training when required
• Failure to meet these conditions may result in termination of employment
• Attend monthly Sales management meetings with their Sales manager and Quarterly meeting with the Senior Leadership.
Team Leaders Employment
• The following are conditions of employment Team Leaders in the CBM program:
• Real Estate Agents :
• 30 Probation period
• Active CMB Agents only
• Must have recruited 50 active agents on their team.
• Management will conduct quarterly performance reviews.
• All Team Leaders must hire and maintain an active agent count of 50 at all times.
• We will conduct quarterly performance reviews after the first 30-days of employment.
• Minimum production requirement – Every 90 Days.
• Personally originate 6 preapprovals or refinance applications per quarter
• Fund a minimum 1 loan per quarter
• Team minimum: Originate 175 preapprovals or refinance application per quarter
• Fund a minimum of 25 loans per quarter
• Complete all bank compliance requirements and training when required
• Failure to meet these conditions may result in termination of employment
• Attend monthly Sales management meetings with their Sales manager and Quarterly meeting with the Senior Leadership.
• Zach Johnson, Membership Services and Data Solutions, Office: 800- 642-4400 Email: zjohnson@capitalfcu.org
• For Operations and Program Support:
• Bill Cohen, National Sales Director, Cell: 806-777-5576 Email: bcohen@capitalfcu.org
• For Marketing Materials and Strategy Support:
• Teresa Gobrecker, National Director of Growth and Operations, Cell: tgrobecker@capitalfcu.org
How to Get started
•Obtain an individual license first with the NMLS.
•When applying, please note that you will work for a Federal depository, not a State depository.
•You will be an employee and not an independent contractor.
•NMLS and CFCU order background checks. Here is the link to get started with the NMLS.
•As soon as the NMLS application is completed and the background check is ordered, please complete the employment application.
•A one-time setup fee of $150.00
•A monthly membership fee of $75.00 for training, administrative support.
•The fee can be paid quarterly at $202.75 per quarter or $725 per year.
•This is a commission only business opportunity. There is no salary or draw.
•You are responsible for 100% of all marketing expenses to originate loans.
•Your production goal is 1 closing and 3 preapproved or refinance applications per month.
•We will want you contact your past customers and your sphere of influence to let them know you are now able to originate loans. You will work very closely with your LOA.
•The minimum production requirement to stay in the program is 1 funded loan per quarter and 3 preapproved application or refinance application per quarter.
•Failure to achieve the minimum production standard will result in termination from the program.
Submit Your Loans Now
• Capital Federal Credit Union will provide a dedicated Loan Officer Associate (LOA) for loan discussions with your client, packaging, program setup, pricing, and expertise on all loan products.
• So, you can start referring your clients now. Your licensing will only take a few days. The sooner you get deals in the pipeline the sooner you will get paid.
