How to Join

In order to join our company you will need to first fulfill the minimum Colorado State Mortgage Broker Temporary License requirements (A-E below). Next you will need to read and sign the employment contract with Realty Plus Mortgage, complete the W-9 and then we will install Calyx Mortgage Software (F-G below). In order to receive a temporary license, a licensed mortgage broker (Realty Plus Mortgage) must sponsor the mortgage broker whose application is pending. At this point, you will be given a Colorado Temporary License within 5 business days that allows you to originate loans immediately, on a 120 day temporary basis. Then after the State reviews all paperwork a final license should be issued by the State of Colorado prior to the 120 day expiration.

NOTE: Upon completion and acceptance, a USER ID and PASSWORD is assigned allowing you access to Affiliated Brokers our fully functional templates.

Realty Plus Mortgage reimburses mortgage brokers 65% of all startup fees up to $707, after issuance of a temporary license and their first "static" closing.

• A.  Complete the criminal background information (CBI) ($39.50 fee) and fingerprint requirement ($10 fee) before filling out the mortgage broker registration.  If you belong to a local Realtor® Board you may be able to obtain fingerprints for free through that board. *Waiver: The Division of Real Estate will accept background checks submitted for a Colorado real estate broker licenses that have been conducted in the 12 months prior to the application for mortgage broker registration.
• B.  Colorado mortgage brokers bonding requirement is ($188 fee) annually and you must receive a bond number prior to filling out the mortgage broker registration on line with Colorado Real Estate Commission.  A bond application is available through Moody Insurance: Scott Howard 303-824-6600 office; 303-370-0118 fax; www.moodyins.com  (bond number)
• C. After you receive a bond number you will now be able to complete your mortgage broker registration online with The Colorado Real Estate Commission($200 fee). Here is the link to the Colorado Real Estate Commission mortgage broker registration site online.
• D. Starting January 1, 2008 all registered mortgage brokers must pay for Errors and Omission Insurance coverage annually ($500 fee) . Information regarding E&O insurance can be found on the Colorado Real Estate Commission website located under the mortgage broker link.
• E. On or after January 1, 2009, each individual applicant for initial licensing as a mortgage broker must complete, within the three years immediately preceding the date of the application, 40 hours of licensing education and pass a two-part exam prior to applying for a mortgage broker license. All mortgage brokers who currently maintain a Colorado mortgage broker’s license must complete 40 hours of licensing education and pass a two-part licensing examination by January 1, 2009. A course is offered on-line by TrainingPro. The cost of this class and exam varies, approximately $199.
• F. 1099 Employment Contract with REALTY PLUS MORTGAGE and W-9.  Print and Sign the Employment Contract and W-9 on links above, then fax or email to us after signing.  Required to be a 1099 employee to originate loans.
• G.  Calyx software for mortgage loan applications integrates, prints and stores client information (No Fee). Calyx Software loan applications can be emailed to us, (password protected) integrates in our system, back into your system and easily transfered throughout our banking system. Your calyx software stores your client information for future use and keeps a record for RESPA. 

(Total Cost $1087)-($707 Reimbursed Cost)=$380 NET COST after 1st close; Earned Banking Fee on AVG/LOAN/FEE at 35% payout=$1100 at 1st close; EXAMPLE: Net Income at 1st closing=$720 ($1100 Fee Income-$380 Costs)