Realty Plus Mortgage
Join Realty Plus Mortgage

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-D below and $1088 in upfront fees). At this point, you will be given a Colorado Temporary License within 5 business days, that allows you to originate loans and earn mortgage broker fee income immediately, on a 120 day temporary basis. 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 (E-F below). In order to receive a temporary license, a licensed mortgage broker (at Realty Plus Mortgage) must sponsor the mortgage broker whose application is pending until completion of (step G) below which includes 20 hours of state, 20 hours of national education class time and passing 2 tests (SAFE and State). Then after the State and NMLS reviews all your completed paperwork, a permanent license should be issued 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 $1002, after issuance of a temporary license and their first "static" closing.

  • A.  Complete the criminal background information (CBI) ($39.50 fee) and Fingerprint Requirements ($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 ($92 to $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 Scott Insurance: Cary McFadden office (434) 832-2100; fax (434) 832-2190; Scott Insurance
  • 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 ($350 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 Philadelphia Insurance Companies website.
  • E. 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.
  • F.  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. 
  • G.  Nationwide Mortgage Lending System (NMLS) requirements begin in January 1, 2010, each individual applicant shall complete, within the three years immediately preceding the date of the applications, the 20 hours of pre-licensing education requirements developed, administered and approved by the Nationwide Mortgage Licensing System and Registry or by a company contracted by the Nationwide Mortgage Licensing System and Registry to develop, administer and approve the 20 hours of pre-licensing education and pass the two-part S.A.F.E. For further information link to the NMLS Resource Center. Initial set up costs at NMLS are $55, NMLS finger printing costs (in addition to state fingerprinting) for a back ground check of $39 is required along with a national test costing $92, to schedule a test, call 866-994-6657. Each state requires a unique testing requirement of $69 (including Colorado). Internet classroom courses are available for the state and national exams at TrainingPro at a cost of ($199).

Your profitable after first "static" closing, EXAMPLE: Earned Banking Fee on *AVG/LOAN/FEE at 35% payout=$1106 after 1st close; (Startup Cost $1541)-($1002 Reimbursed Cost)=$539 NET COST after 1st close; (Earned Fee $1106) minus (Net Startup Cost $539)=$567 Net Fee Income *Average Income=$211,000 (Loan)x 1.5% (1% PT+0.5%YSP)x 35% (Payout)=$1106. Annual costs of renewing a mortgage license will be approximately $1000 (Colorado $245+Bond $188+E&O $500+8 hours of Continuing Education to follow).