Which Mortgage Pill Will You Choose?
10XLO - The Movement
At 10XLO.com, we believe that ALL Loan Officers were born with the seeds of greatness. They were created to be a living manifestation of the ideal loan officer. You know who were are talking about. They are the ones that have to pinch themselves when they think about how much money they earn, the ones that have the ideal work/life balance. So while making all the money they want, they are working as few hours as they want and spending as much time with their significant others, their families, friends, and loved ones as they want.
They love their work because they control their own destiny. They run their businesses the way they want. They can not only choose which products to sell but also how they want to market them. They can hire whomever they want and write precise job descriptions for those new hires. Competing on loans is not a problem for them because they can price their own loans without having to ask for exceptions. It’s the kind of business and career in the mortgage industry that we all dream about having.
Now while we believe that all loan officers have this kind of career somewhere inside of them, the fact is that as a percentage, very few ever achieve it. The reason for this is that, sadly, the large majority of working environments for loan officers actually work against having this kind of success and freedom. LOs find themselves working with a financial product list controlled by someone else, with pricing controlled by someone else, living on a comp plan controlled by someone else, working with people hired by someone else, with job descriptions created, and yes controlled, by someone else. Certainly, this can work out well sometimes, but only so long as it is working out well for the controlling person or company.
Similar to the parable of the sower in Matthew Chapter 13, the seeds that fell along the path and were eaten by birds are like aspiring LOs who come into the business but receive little or no training and wash out before they ever really get started. The seeds that fell on rocky places and were scorched by the sun, are like LOs who wind up in some call center. They may thrive for a minute but when interest rates rise they are scorched by the market. The seeds that fell among thorns that grew up and choked them are like LOs who wind up in a credit union, bank or other lender, places which are notorious for bad pricing, low comp plans, limited offerings, rigid compliance, tough HR policies, and outdated technology as well as forcing the LO to pay for services they may not even use.
The LO has two choices. They can take the blue pill, wake up in their own bed tomorrow morning and continue believing that this is normal. OR, they can take the red pill, have the veil removed from their eyes, and reject that business model in favor of a much better one. They can say "no more" to "Big Finance" and join the Broker Revolution.
OUR MISSION is to help them do that. We are here to help them take the red pill and be like the seeds that fell on the rich, fertile soil and produced a hundred times what was sown. The really good news is that a loan officer is not a seed that has no control over where it is thrown. No matter where they started, they can take the red pill and learn how to get to that rich, fertile soil. In that amazing place, all of those pricing, comp, offerings, compliance, HR, technology, and unused service issues are no more. The loan officer is truly free to become all that they want to become. OUR MISSION is to educate them on how to make their choice between the red pill and the blue pill. To those who choose the red pill, who are ready willing, and able to evolve, OUR MISSION is to help them transform into that transcendent loan officer that they were always meant to be.
10XLO - Come Home To The Broker Space
This is Where You Belong!
Mat Ishbia (CEO of UWM) on Why the Broker Side is the State of the Art for Mortgage Professionals
10XLO Love
This is the perfect environment for brokers who don't want the hassle of being brokers. All the back office heavy lifting has be done for you and they only keep a sliver of the revenue for doing it.If you want the highest payout, transparent pricing with NO overlays, total control, and a host incredible benefits, you seriously need to take the Red Pill. - Butler, TN
My experience at here has been phenomenal. While no company or organization is perfect, there is little I can say that would detract from my experience working in this broker environment. It has afforded me so much financially and has given me my spark back. I love that flexibility, creativity and the collaboration with peers who truly want to help you succeed. It has been nothing short of AWESOME! - Colorado
The reason I love this space is because of the freedom and independence I have to work like I'm self-employed, but have the backend support to take care of the business setup which allows me to focus on originating.No more useless zoom meetings, requirements to go into the office, or begging for pricing exceptions to win deals.I'm in control of my destiny and my compensation and I love it.
There is no better company to work at as an originator. The compensation is fantastic while offering better rates to your customers than your competition.From top to bottom, the company is filled with leaders. The support from fellow loan officers who are willing to help is unbelievable.You are free to run your business how you want and make as much money as you possibly can. No limits! - Minnetonka, MN
This has been amazing. The originator who helped me "take the red pill" has been outstanding in helping me learn the broker side of the business and to get loans pushed through and to the closing table. Being able to adjust my margins keeps me competitive. I lost several deals previously due to retail shop prices. Here, the compensation is very clear and I can set how much I want to make on every file. If I need to price match, no problem because it's 100% in my control. The efficiency of the wholesalers is dramatically better than any retail place I've worked. I was sold on the "underwriter control myth" for a long time. I've found I have much better communication with the underwriters and they want to figure out how to say yes to these loans, too. - Denver, CO
Stop paying your employer to work and start earning what you're worth. You are literally stealing from your clients by working in retail. It's the same as a department store. If you had access to wholesale clothes, groceries, gas, and cars, wouldn't you take advantage of this? Or would you pay a marked up price so they can pay their employees, management etc? That's what retail is, the margin in your rate and your lower comps is paid to your company. I love being Robin Hood and giving that margin back to my clients as a credit!
If you're looking for the next step to really grow your business, your realtor relationships, and most importantly clients for life, then jump on the last ship you will ever need to sail. - Edina, MN
Former retail LO, now a Broker. The obvious - Great Compensation, work/productivity is yours to control, systems are in place to really take care of your clients/customers. The not so obvious - a community that really responds to help you grow and learn as you develop as a broker. It can be a challenging move from retail to brokerage depending on how much experience you may or may not have of the backside of lending. Here, you simply have to reach out and you will have as much help as you need to understand each new element as you experience it. The generosity of the brokers that are here is amazing to me, and it's obvious that my peers realize that there's more than enough to go around to make all of us successful. - Spanaway, WA
This is by far the best mortgage company I’ve worked for. If you’re a self starter and a go-getter, I can’t imagine why you’d want to spend another minute working anywhere else. Period. The best work decision I’ve made in years was coming onboard. Period. - Virginia Beach, VA
I have been at a retail bank and a direct lender and nothing is better than the broker world. It has the highest comp and no manager breathing down your neck. You run your own show. There is also a revenue share program that is unheard of. Wholesale rates make all the difference too. Now is the best time to go broker. - Phoenix, AZ
I've been in the mortgage business almost 20 years. Am licensed in 13 states. I love that I was able to go back to the broker world from the correspondent lending side - and hit the ground running so quickly. I have amazing support - and the tech is the best I've seen. Lots of freedom to fly. Highly recommend this company to LOs looking for a great home. - Richmond, VA
There really is no comparison. Other's may argue but this is the best place I have ever worked. The tools put in place to help us succeed along with the support are second to none. The compensation and profit sharing are one of a kind. Your search is over... DFW, TX
I came from retail mortgage lending and was always told that the broker world was the “Wild West” and that I’d never get support or structure needed to thrive. Well "taking the Red Pill" proved to me immediately that I was being lied to for years! Not only do I have support, but it is 10x what I ever received from any other company, including access to the company's top producers who are always willing to help. - Denver, CO
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ABOUT US
Ralph Watkins
10XLO Tour Guide
Ralph Watkins began as a Loan Officer in January of 1996. After about 4 months, he was managing a Mortgage Office located inside of a local RE company, and in his first year, he took it from 2 closings per month on average to about 12.
After 2 years, he coaxed his wife away from the dental office to help him start their own mortgage company. Their original goal was to close 8-10 loans per month but over the next nearly 10 years, they built one of the largest private lending firms in Florida at the time, as well as having their own title company, construction company, and RE Holding company.
Since then, Ralph has been teaching LOs what true freedom looks like in this industry while having a lifestyle that most people can only dream about. Specifically, Ralph is known for helping LOs understand the actual monetary value of each of the tasks they do every day and how to spend their time on the ones that pay the most. He also shares with them the epiphany that the people they most need to call to build their businesses will actually get upset if they DON’T get called.
Lastly, he absolutely loves showing loan officers how most of what they believe to be true about the mortgage industry isn't. It's merely a false construct created by "Big Finance" to keep most loan officers in bondage to them, making themselves wealthy by taking up to 76% of the revenue generated from loans created by the hard work of "the little guy/gal". Ralph loves teaching LOs that that is the Blue Pill and that it doesn't have to be that way. They are free to choose the Red Pill, change the rules for how "the "game" is played, and transition into being the transcendent loan officer that they were always meant to be.
★★★★★ Ralph is super smart and always has wisdom to share and most importantly urges you to implement it! Have Ralph in your corner, to take your mortgage business to the next level!
Jackie Barikhan - California
★★★★★ Ralph took a 30k foot view of my company and helped guide and direct us so we could grow on as straight of a line as possible with the fewest errors!
Kevin Wells - California
★★★★★ Ralph helped me identify which tasks were crucial for business expansion and those that could be delegated or automated, freeing up my time and energy for higher-level activities.
David Stallings - Georgia
★★★★★ Ralph truly cares about my business and anything that impacts it...so if there is something in my personal life that is causing an issue at work...he wants to know and is understanding and caring.
Gregg Driggs - Utah
★★★★★ Ralph gave me hope and motivated me to think outside the box.
Wes Tool - Colorado
★★★★★ Ralph helped grow my numbers through daily marketing for success.
Sherry Scofield - Arizona
Kristen Watkins
10XLO Tour Guide
Kristen Watkins began her career in the mortgage industry in 1998. She originally planned to work in the world of dentistry working in pediatrics and orthodontics and was awarded a full tuition scholarship from a premier local hospital. She was then recruited by her husband Ralph to join him in opening their own brokerage in Tarpon Springs, Florida which is in the Tampa Bay area. They grew from being a new company to doing 50+ units a month.
During that time, she aided in the development from a broker shop to correspondent to fully licensed lender. This included a servicing department to handle the payments from borrowers and to private investors, securing the FHA designation and maintaining relationships with investors, insurance, taxes, and escrow for construction. She also facilitated the growth of their real estate holding company, construction company, and title company. In 2008 she began doing behind the scenes support for loan officers. Over the years this has grown into coaching to help clients grow in their goals with financial and time freedom.
Kristen is known for guiding through the journey to build the support staff team. This encompasses ad creation, the best hiring practices and how to best evaluate the applicant via the DISC assessment. She also has a passion for networking and making sure her clients have the connection to the resources that they need. Finally, she loves to brainstorm and think outside the box for solutions to conquer a fear or a challenge which is why, like her husband, she is now so passionate about helping loan officers take the Red Pill, change the rules for how "the "game" is played, and transition into being the transcendent loan officer that they were always meant to be.
★★★★★ Kristen helped me structure my team get me up for success. She is very talented, I love the way she took a personal interest in my business. She also connected personally and made the experience working with her enjoyable.
Mike Larsen - Utah
★★★★★ Kristen is my mortgage therapist. I have had the greatest gift and have been beyond positively impacted by having the opportunity of being coached by Kristen for over three years.
Dorothy Satti - Connecticut
★★★★★ Kristen worked with me to recognize the challenges that were keeping me from growing. She truly cared about me, and my needs and we planned every session to Improve. I would recommend her to anyone!
Tom Bickett - New Jersey
★★★★★ Kristen brought clarity to my thinking. She met me where I was and guided me in the direction where I wanted to go. My income absolutely increased but more importantly, I gained ground in the most important things in my life, like using that monetary success to actually afford the time and experiences to invest in my closest relationships. I LOVE Kristen! She will be my friend forever.
Mark Day - Utah
★★★★★ Kristen was a coach, mentor, friend, supporter and so much more to us. We are forever grateful for all she did for us and our family. We turned what felt like a one-man show/juggling act into a well-oiled machine with her guidance. She is an all around incredible coach and human and would recommend her 10/10 to every LO and team I know. Grateful!!!
Tamar Jakubos - Arizona
★★★★★ Kristen helped me to see potential in this industry and in myself. She was truly a teacher to me and guided me towards a thoughtful and diligent process that opened up all possibilities for success. I’m very thankful for my time with her.
Jennifer Lampe - Arizona
★★★★★ Words cannot express how grateful I am to Kristen. She is the number one reason my business has grown.
Miles Pitcher - Utah