FAQ On Joining BluEleven
Do I need a license to work for BluEleven? If so, what type?
Yes, if the clients home is their primary and No, if its a Business Purpose or Investment property.
Do I need to be license if I am only working with Private Money clients
There are many states that don’t require you to be licensed to handle B2B loans.
Does BluEleven Broker or Bank its loans?
You have the option to broker to any number of our lending partners. Its your choice and we are here to support you.
Does BluEleven supply training, Leads, an office, or salary?
The BluEleven platform is designed primarily for seasoned and experienced and self-starter loan originators. We provide weekly training on all products and programs. Please inquire.
Am I paid 1099 or W-2?
Most states are paid 1099 with the proper license. Some exceptions: CA, DBO requires W2. Additionally, Oregon and Arizona and Nevada require W2. Note: If you obtain license (under BluEleven) in a state outside of your home state, that can impact your pay status in your home state.
How often do I get paid?
Once we have the complete file and check, commission are cut and sent with in 72 hours. W2 state: BluEleven cuts W2 checks on a bi-weekly basis. We must have both the file and check the PREVIOUS Friday to give adequate time for the file to be reviewed. We understand you need to put your money back into your business.
How do I price loans with BluEleven? Can I see BluEleven’s rate sheet?
As a broker, BluEleven does not have its own rate sheet. You will simply use our lender’s rate sheets, these are available on the lender’s website, or Loansifter ($60/mo.), an online pricing engine, to price out loans.
As a banker, you will use Price My Loan “PML” through Lending QB.
