“You’re not used to wearing the hats of compliance, HR, and technology, and all these things,” Casa said. “So what we’ve done is we’ve really allowed for these people to plug into our platform, get the technology, get the compliance, which is a really big deal, get the systems, and then you can be an entrepreneur. I truly believe that long term, this is where the market’s going.”
By making these types of services available in the wholesale space, Casa said it keeps brokers from having to abandon wholesale for the support of the retail channel once again.
“I think what we’re seeing is that 80% of the people who make the move from a retail lender or bank to the broker channel really want this type of platform,” he said. “And there are other platforms out there.
“I really do believe that a lot of people who have come over the last several years who have gone back have done so because it’s not that the wholesale platform isn’t a great platform to originate in, and it’s not that it doesn’t offer all the benefits that they thought it would. It’s just they’re not equipped to wear this many hats.”
Continued wholesale growth
Companies like UMortgage are offering more than just support to brokers interested in joining up with them. They’re also offering programs and incentives, like the flat-fee model and the corporate margin cap, which allows brokers to keep all their earnings once they exceed 50 units in their anniversary year.
