Frequently Asked Questions
Hybrid Comp Plan
A Hybrid Agent is a licensed Mortgage Loan Originator that facilitates mortgage loans for borrowers for compensation by Mortgage Lender on a set percentage of the loan amount.
Hybrid Agent gets compensated on:
Personal Loan Origination
1. Personal Loan Origination
When a Hybrid Agent provides borrowers with mortgage services through our Hybrid Mortgage Application, they receive compensation based on a percentage of the closed loan amount.
Here's an example of a Hybrid Agent Comp Plan.
Kelly, a Hybrid Agent helped Sally not only find a home but obtain a conventional mortgage through the Hybrid App.
Purchase Price of the home was $500,000
Down Payment was $100,000 (20%)
Final Closed Loan Amount was $400,000.
As a Hybrid Agent, Kelly's compensation agreement is at .75% of a loan amount. Kelly's commission payout for a $400,000 loan amount was $3,000.
2. Team Building Comp Plan (TBCP)
Hybrid Agents can also participate in the Hybrid Team Building Comp Plan. Yes, it's a mouth full but trust us, if you're considering the Hybrid Agent Program, you'll want speak to one of our Hybrid Account Managers to learn as much as you can about TBCP.
A Hybrid Agent is a new kind of real estate professional that utilizes artificial intelligence to automate, digitize and increase daily production and income. Technology has finally allowed real estate professionals to offer superior service when it comes to real estate and mortgage solutions while adding transparency and simplicity to a client's experience.
So what's a Hybrid Agent?
A Hybrid Agent is a licensed real estate agent and a licensed mortgage loan originator who provides real estate and digital mortgage services to clients for an all-in-one, full-service experience. Hybrid Agents are changing the home buying experience by offering a better, faster, and simpler service and clients are loving it.
Let's not forget the benefit of getting paid on both the real estate transaction and the origination of the mortgage loan.
Hybrid, is our amazing artificial intelligence app that uses bots and algorithms instead of people and sales reps.
From the Loan App, Credit Check, Asset Verification, Underwriting Approval, Loan Options, Rates, Terms, Pre-Approval Letters, Disclosures, Submission, Appraisals and more -- Hybrid does it all.
When clients interact with Hybrid, AI bots start verifying digital assets, employment, income, credit and more in a matter of seconds -- Not days or weeks.
Hybrid then compiles all the data, runs underwriting findings, and crafts the perfect loan option while issuing out a fully underwritten pre-approval letter in seconds.
Once the file is approved, the borrower can start their journey with a Hybrid Agent to find a home.
When a client finds their dream home and the offer is accepted, all they have to do is log back into Hybrid, update the purchase price and their file is ready to submit to processing.
Is There A Hybrid Agent Support Team?
Yes! Our Hybrid support team consists of a designated personal assistant, account manager plus a team of processors and underwriters. The support team is designed to handle the client experience from start to finish, so our Hybrid Agents continue to do what you do best (REAL ESTATE).
Artificial Intelligence and data-driven algorithms have brought life to a new generation of real estate professionals called Hybrid Agents.
With the latest cutting-edge technology, we’ve been able to develop a tool for Hybrid Agents to offer homebuyers and owners digital transparent mortgage services while increasing productivity and bottom line income.
Hybrid never sleeps, eats, breaks or makes mistakes.
Here's How It Works...
Part 1. The Perfect Loan Application
Hybrid is designed to ask clients the exact questions needed to complete a full mortgage application in a conversational style that's easy to understand. Based on the client's answers, Hybrid has the ability to ask additional questions to make sure nothing ever slips through cracks. Say goodbye mortgage reps and say hello to Hybrid Agents.
Part 2. Amazing Credit Review
Once the mortgage application is complete, Hybrid pulls a credit report and in seconds reviews the credit scores, outstanding liabilities, and minimum payment obligations while giving the client the ability to make changes.
For example, a credit card debt might have been paid off or down. Clients can quickly change the amount owed and update minimum payment obligations.
Part 3. Digital Asset Verification
Clients won't have to search for bank statements from multiple accounts to verify their assets. Through Hybrid's integration with major US Banks, clients can digitally verify their assets in seconds through their secure bank portal, providing updated copies throughout a purchase transaction.
Here's how it works: Let's say a client has their down payment money in a savings account with Chase Bank and another account with Wells Fargo. Hybrid's digital integration verifies the assets in seconds, reviews and approves the down payment reserve requirements.
Super secure, super fast and super cool, right?
Part 4. Automated Underwriting Approval
Hybrid then verifies the client's self-reported income and runs the loan application through an automated underwriting system taking the guesswork out, streamlining the process by replacing mortgage reps and underwriting departments.
Approvals are issued out in seconds, savings clients and Hybrid Agents time and money.
Part 5. Approved Loans & Rates
After the approval is complete, Hybrid runs through thousands of programs to present a list of all of the available approved loan options -- But hold on, there’s more.
Each loan option comes with a set of interest rates and a detailed fees worksheet. Clients can review and select the option that works best for them.
This is a huge deal because it protects clients from unlawful practices known across the mortgage industry. Practices like when mortgage reps only show the client loan options that benefit them, not the client.
Once a rate is selected, Hybrid outlines lender, third party and escrow costs associated with a selected loan. Transparency is the name of the game here folks, and through technology, we're able to offer clients just that.
Clients and real estate agents no longer have to wait days for mortgage companies to manually complete a review by hand. It's all done with a few clicks and the best part about it is that it's done without human error, greed, or personal opinions. It's all done on math and data. Super Safe.
Part 6. Pre Approval Letter
Once a loan option and interest rate are selected, a client can either download a pre-approval letter or continue to submit their loan application to processing.
Part 7. Submit To Processing
Woooohooooo, the offer was accepted. Submitting a pre-approved loan application to processing with Hybrid takes minutes - A client goes back into Hybrid, updates any changes to the purchase price and loan amount, and hits refresh. Hybrid recalculates the scenario in a few seconds while updating the loan options and interest rates.
The client can select an updated interest rate and mortgage disclosures are autogenerated in seconds with the ability to e-sign on the spot.
Once the mortgage disclosures are complete, the client can order the appraisal and upload any additional conditions Hybrid requests. For example, a copy of a drivers license or most recent paystub.
Through Hybrid, we've seen clients get pre-approved in under 8 minutes and submit a full loan application to processing in 15 minutes.
A process that use to take days or weeks to complete is now done in minutes.
So you're thinking about becoming a Hybrid Agent. Great, let us walk you through the onboarding process.
The steps to becoming a Hybrid Agent are quite simple and can take less than a week to complete.
Step 1. Start by completing our simple Hybrid Agent App and tell us a little about you.
Step 2. You'll receive a welcome email with an e-calendar invite to schedule a Time & Date for a quick call or an in-person meeting. It's a great way to get started by getting to know each other.
Step 3. Sign up for a two and half day webinar or in-person course.
Day 1: 9AM-6PM (1-hour lunch break) EST
Day 2: 9AM-6PM (1-hour lunch break) EST
Day 3: 9AM-1PM EST
Step 4. Complete the national and state mortgage license requirements.
Step 5. Take a 2-hour training course on Hybrid and our Support Team. That's it.