A Site FOR Loan Officers BY Loan Officers

By
Mortgage and Lending with Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, NMLS #138061 MMCD #1141

A Site FOR Loan Officers BY Loan Officers

 

     LOxchange.com is an online forum FOR loan officers, created BY loan officers.  Since 2007, I've been a member of this community, and wanted to share it as an excellent (free) resource to other LOs that are looking for new products, have questions on scenarios, and want to keep up to date on the latest news and happenings in the world of mortgages.

 

     In the forum, frequent discussions are on marketing ideas, products and programs, and sometimes, referrals go back and forth when state licensing Loan Officerleaves an LO seeking a resource outside of their area.  

 

     The site we previously used (around since 2005) was called Broker Outpost, and ranked atop google for loan officer search terms for YEARS, but Broker Outpost closed their web-based doors last month, so LO Xchange was created by members to continue to offer a resource for loan officers to seek out advice, bounce around ideas, and seek out the latest product and program offerings.

 

     Members include other LOs, a few Realtors (Realtors are welcome to join, if you can handle the anti-Realtor sentiment that some LOs harbor.....I'm guessing they're the LOs that don't get referal business from agents!), appraises, and account executives from a lot of different lenders.

 

     One cool thing I've taken away from the platform, aside from advice on a lot of scenarios over the years, is when new lender reps join and I get to hear about their latest and greatest loan products.  MasonMac just brought on a new non-QM lender that I first learned about through LOXchange.  This lender has Jumbo loans for borrowers with FICO scores down to 640, special qualifying loans for non-warrantable condos, investors, and foreign nationals, and bank statement loans for those with FICO scores down to 580.  Lots of options!   And I wouldn't have been able to offer these programs without hearing about them on LOXchange.  

 

If you're an LO, join the forum and get to know some of us on there already!

 

 

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Rainmaker
4,445,443
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

John,

Thank you for telling us about this site.  It sounds like a great resource for those looking for answers on loans.  A

Mar 27, 2018 02:42 PM #1
Rainmaker
1,321,281
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Great heads up for loan officers, John!  Staying up to date in today's constantly changing environment would be critical to giving your clients the very best possible service. 

Mar 27, 2018 02:50 PM #2
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3,090,271
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Cool to know there's a site just for loan officers to connect and refer business to one another.

Mar 27, 2018 06:29 PM #3
Rainmaker
1,534,336
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

Sounds like a good thing to be in. Too bad that more LO's don't hang out by the watercooler here. Oh, it's anti-agent sentiment lol.

Mar 29, 2018 10:58 AM #4
Rainmaker
1,229,706
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

John .. I appreciate you sharing this site's info and your impressions of the value to be found there. Will be checking it out on your suggestion .. Thanks!

Apr 03, 2018 06:41 PM #5
Rainer
497,783
Dörte Engel
RE/MAX Leading Edge - Bowie, MD
ABC - Annapolis, Bowie, Crofton & rest of Maryland

Dear John,

I love sites like this. They often have solutions for some of your tougher cases. Not all loan officers know everything about everything, so it is good to suggest things, if needed. In return, they sometimes give me ideas, that did not occur to me.

Apr 03, 2018 07:56 PM #6
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371,307
Jana Holmstrup
Jana Holmstrup - CEO - Kings Mortgage Services, Inc. - Visalia, CA

Hi John Meussner, are you primarily doing broker thru MM?  I created an account for this website - I Love to Read! - but seems like broker scenarios, where do I place my loan, etc.  Maybe I'm doing it wrong.... ?

Apr 03, 2018 08:48 PM #7
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi John

Thanks for the news about this. I imagine it's a popular site for Loan Officers for a number of reasons, even those who might have issues with agents.

Jeff

Apr 08, 2018 04:00 PM #8
Rainmaker
401,223
John Wiley
Right Move Real Estate Group- EXP Realty - Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

I think it is a really great thing when people can see others as a resource instead of a competitor.

Thanks for sharing.

Apr 10, 2018 07:23 AM #9
Rainmaker
1,833,723
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Just bumped into this ! I went ahead and joined . I teach a 30 hour Finance Class about twice a year and need to stay on top of changes .

Oct 07, 2018 08:09 AM #10
Anonymous
michael

Attention !!!
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Send an email to: (michaelnordmannloanfirm@gmail.com)

Jan 16, 2019 05:18 PM #13
Anonymous
LaShawn Clay

I am looking for a wholesale broker shop that I can use my AE

Sep 10, 2019 04:33 PM #16
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John Meussner

#MortgageMadeEasy Walnut Creek, CA 484-680-4852
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