This is a great video on comp. https://youtu.be/MUdmPxNWmMk?si=0NfJYGZMOAqJkSlX
Too many people are obsessed with promoting 275bps comp. Focus on your end of year goals and the actual money you will make instead of 275bps per deal.
Not a recruiting post but just a general information post regarding Pylon since there has been a lot of chatter in this sub.
I am currently at a broker that offers Pylon, and there have been posts about Pylon being 100bps better priced, etc. Reality is, it is not always the most competitive and here are is a scenario.
500k Purchase, 80 LTV, 760 Fico, SFH, CA, 30 day lock
Pylon Pricing: 6.375% 0pts - Comp 150bps LPC
Provident Pricing: 6.375% 101.5 BPC
CMG Pricing: 6.375% 101.598 BPC
Having said that, with Pylon I can offer 6.25 for a cost of $150 in pts (which I can just lower my comp to cover). So in a pure apples to apples comparison Pylon is not any better vs the lowest priced on loansifter. However, if you were to offer a lower rate with pts that is where it gets competitive. BUT, there is also a holdback of 15bps on avg that you have to be aware of that gets deducted from your comp as well with Pylon to offset the monthly fee the brokerage pays for the platform.
Also to add, there is no admin/UW fee with Pylon at the moment and they provide free credit reports.
Wanted to get your thoughts on Origna8. Founded by former Rocket execs Mike Fawaz and Dan Sogorka. It's a "broker" platform and they seem to be partnered with UWM but integrating with others as well from what I've read.