Working with the Transition Team: Assisting Clients Before Your MU4 Transfer

If you have clients who need assistance before your MU4 is transferred or your license is approved in the applicable state, you’ll need to work with the transition team. This is essential, as you are not legally allowed to originate loans until your MU4 is fully transferred and your license is active.

Please be aware that if you have an existing loan application completed before your MU4 transfer to Mpire Financial, it may or may not be accepted into our system. If the 3.4 file has been processed through your current company’s Loan Origination System (LOS) or Point of Sale (POS), we cannot accept it, and your client will need to reapply with the transition team at Mpire Financial. However, if you’ve been using a "side" POS tool (e.g., Floify) outside your company’s official LOS, we may be able to utilize it.

Please note that we cannot accept phone or written applications. It must either be a completed 3.4 file or the borrower will need to reapply with us.

Step-by-Step Process for Using an Existing Loan Application (Instead of Client Reapplying)

1. Set Expectations: Clearly communicate the process and timeline to your client and referral partners.
2. Notify the Transition Team: Email the transition team at [email protected] to request the "Borrower Authorization" be sent to the client for eSigning. Please include the names, cell phone numbers, and email addresses of the borrowers, and provide the Pre-Approval Team with the story of the file.
3. Gather Documents: Once the Borrower Authorization is eSigned, the Pre-Approval Team will request the 3.4 file and any supporting documents you have. We will not import the 3.4 file into our system without the eSigned Borrower Authorization. Properly organizing supporting documents—labeling files and sending them separately—will help speed up the process. Submitting everything in a single 100+ page PDF may delay processing.
4. Importing the Application: After the loan application is imported into our ARIVE system, the Loan Partner will introduce themselves to the client, provide instructions for the client to authorize and pay for their own credit report ($99), and request any additional documents. The SmartPay link for clients to order their credit report is AuthorizeMyOwnCreditReport.com. This introductory call will take place within 24 hours of receiving the completed loan application.
5. Pre-Approval Completion: The Loan Partner will aim to complete the pre-approval as quickly as possible. The borrower must provide required documents promptly. Our goal is to pre-approve files within 48 hours of the introductory call, but some files may need lender submission for full TBD approval, which could extend the timeline by up to a week.

Step-by-Step Process if the Client Applies Directly with the Transition Team

1. Set Expectations: As with existing loans, set clear expectations with your client and referral partners.
2. Notify the Transition Team: Provide a heads-up to the transition team with the names, cell phone numbers, and email addresses of the borrowers for any anticipated loan applications.
3. Application Received: Once the completed loan application is received, the Loan Partner will contact you to discuss the file before reaching out to the client.
4. Client Introduction: The Loan Partner will reach out to the client, provide instructions for ordering the credit report ($99), and request any supporting documents. The introductory call will occur within 24 hours of receiving the completed loan application.
5. Pre-Approval Completion: The pre-approval process will proceed as quickly as possible, with the goal of completing it within 48 hours of the introductory call. Delays may occur if the borrower is unresponsive or if third-party verifications (e.g., VOEs) are required. Some files may also require full TBD approval, which can extend the timeline.

Loan Partner Pipeline Meeting

If you have questions about a file or need a status update, you are encouraged to contact the dedicated Loan Partner. However, each Thursday from 9:00 AM to 10:00 AM, we hold a Loan Partner pipeline meeting to review all files in the App Intake or Qualification milestones in ARIVE (i.e., any files that are not yet pre-approved). You are welcome to attend this meeting! Please request a calendar invite by emailing [email protected].

While you are welcome to connect with the Loan Partners throughout the week, it is most efficient to address questions during this dedicated meeting to ensure we can serve all branch members using shared resources effectively.

Important Notes

• Refer to the attached graphic for a list of states where I am licensed and can assist you.
• If the loan becomes a RESPA app (i.e., the client goes under contract) before your license transfer is complete, the loan will remain in my name, and there will be an 80/20 commission split. If the loan does not become a RESPA app before your license transfer, the loan application and credit report will transfer to your name, and your regular compensation plan will apply (with no 80/20 split).
• Loan Partners work standard business hours (not nights or weekends), so please keep this in mind when planning communications.

Transition loans can feel challenging, but rest assured, we are here to guide you every step of the way. This is an exciting time as you transition to Mpire Financial, and we are committed to making this process as smooth and successful as possible. Let’s get ready for a bright future together!

p.s. Here is that suggested Transition Team pre-approval steps email. Make sure to cc [email protected] when you send this to the client.

Subject Line: Next Steps - Transition Team

Body of email:

Thank you so much for allowing me the opportunity to assist you with your financing. While my license is transitioning over to Mpire Financial, The Betz Team will be assisting me with my clients pre-approval needs. Here is the link to start the pre-approval process. Please note that each borrower will need to use a separate email address to complete this. 

http://www.ApplyWithTheTransitionTeam.com

 If your credit report is currently frozen, please make sure to thaw it out prior to starting on the loan application. Once you have completed the loan application, you will be prompted order your own $99 credit report using your credit card. We cannot start working on your file until this is received. 

 Thank you for the opportunity to assist you!

 p.s. Our team password is “unicorn” because that’s what we are. Unique and one of a kind. If the person you are speaking with doesn’t know the correct password, tell them it is “catfish” because that is what they are trying to do to you. Catfish you. Please do not give them the correct password if they do not know it to protect our other clients from being catfished as well. Here is a set by step walk through on how to opt yourself out of the credit bureaus marketing arm which should dramatically reduce the number of “trigger lead” mortgage companies calling you. https://bit.ly/OptOutPreScreen