Q: What is the difference between being a Sales Agent with VMS vs. being a Loan Officer with a mortgage company?
A: As a Sales Agent you are not to particpate in any mortgage-related activities after submitting the basic application for your client. Licensed mortgage professionals will be assigned to price and process the file, as well as to manage all continued communication with the customer. If you are looking to be more involved and to work directly for a mortgage company, this is not the opportunity for you.

Q: What states can I operate as an Indpendent Sales Agent?
A: We operate in all 50 states. However, we may require you to be paid as a business in some states as a result of 1099 and independent contractor guidelines.

Q:What type of experience is required to be a VMS Sales Agent?
A: You must 1-2 years of mortgage sales or related experience to register with us. You will be required to collect the basic information on a loan application, and the technical knowledge to email the file to the processing center.

Q: When and how can I get started?
A: Once your registration fee is paid and you have the software needed to send in your application, you can begin submitting deals right away. You must also complete the VMS employment packet and fax it to our corporate office in order for your contractor registration to be completed and for commissions to be released. All of the tools and instructions will be immediately available to you in the agent back office.

Q: When do I get paid?
A: Commissions are paid out to our Sales Agents within 24 hours of of receiving our marketing fees on the file submitted. We pride ourselves on how rapidly our agents are paid.

Q: How do I submit a new client referral?
A: You will be provided with instructions to download a free loan software (Loan Ace) that will allow you to take basic information from your client. That file will be emailed to our processing center to begin the process.

Q: What do the VMS sales commissions consist of?
A: VMS is paid 55% of the ENTIRE commissions charged on the file. We take $195 and pay the rest to the Sales Agent.

Q: Are there any other fees charged to the client on the file?
A: A third-party processing fee of $495 will be charged to the client, which is standard in all mortgage transactions.

Q: Are there any other fees charged from the lender to VMS on the file?
A: There will be no other lender admin fees or per files charges whatsoever! We are paid 55% of the full commission and after the VMS $195 per file fee the rest is paid to the Sales Agent. Most companies charge as much as $1,000 in fees, greatly reducing the amount of net commissions you are paid. This is not the case with VMS.