FAQ – Pioneer Mortgage Funding

Frequently Asked Questions

Section 1: General Information

Do I need a license to work for Pioneer Mortgage Funding? If so, what type?

Yes, you need your license for each state in which you would be originating.
Pioneer Mortgage Funding’s headquarters is in Tampa, FL, and is licensed in AL, CT, FL, GA, KY, MI, NC, OH, SC, TN, TX, & VA

Does Pioneer Mortgage Funding have an application or set up fee?

Pioneer Mortgage Funding does not have an application fee; however, there are startup fees for both Branch Managers and MLOs. Those fees are listed below.

Mortgage Loan Originator Start up fees:

NMLS Sponsorship Fee: $35 (may vary by state)
Pioneer Mortgage Funding Email: $201.60 (Annual fee)
Arive: ($79.99 Originator Seat paid directly to Arive after onboarding)

Start up fees total: $236.60

Branch Office Start up fees:

Florida Statutory Application Fee: $225
NMLS Processing Fee: $25
NMLS Sponsorship Fee: $35 (may vary by state)
First Month’s Branch Fee: $1,650
Recommended Reserve: $500
Pioneer Mortgage Funding Email: $201.60 (Annual fee)
Arive: ($79.99 Originator Seat paid directly to Arive after onboarding)

Start up fees total: $2,636.60

Does Pioneer Mortgage Funding supply training, leads, an office, or salary?

Pioneer Mortgage Funding’s model is designed primarily for seasoned, experienced, and self-sufficient MLOs. However, we may be able to find a Pioneer Mortgage Funding branch to place you in who can offer training and support for a paid training fee. Lead generation will be your responsibility. Most of Pioneer Mortgage Funding’s business is obtained by word of mouth, positive reviews, and/ or realtor relationships.

Does Pioneer Mortgage Funding broker or bank loans?

Pioneer Mortgage Funding continues to have success in doing one thing very well and that is brokering. We strive to engage with our clients, and connect them with potential lenders to determine the best mortgage products for their needs and situation. If you are coming from a 'banking' background, we may be able to find a Pioneer Mortgage Funding branch to place you in who can offer training and support to assist you in learning how the 'broker' channel works (i.e., in terms of shopping lenders, locking loans, etc.) for a paid training fee.

Am I paid 1099 or W-2?

If you are a licensed MLO in AL, CT, FL, OH, TN, TX, or VA you are categorized as an Independent Contractor (paid 1099).

If you are a licensed MLO in GA, KY, NC, SC or administrative staff you are categorized as a traditional employee (W2).

How often do I get paid?

If you are a MLO under the Corporate Office, you are paid upon completion of all compliance. Pioneer Mortgage Funding takes pride in ensuring the MLOs get paid as quickly as possible, meaning you could get paid the same day your compliance is completed. If you are a MLO under a Branch Office, your Branch Manager determines when you get paid. They write your checks from their Branch Office checkbook, so you don’t have to go through the Corporate Office.

Does Pioneer Mortgage Funding have a minimum quota?

We require all Pioneer Mortgage Funding MLOs to close at least 3 loans per quarter.

What types of loans can I originate at Pioneer Mortgage Funding?

How do I price loans with Pioneer Mortgage Funding? Can I see Pioneer Mortgage Funding’s rate sheet?

Pioneer Mortgage Funding does not have its own rate sheet. MLOs have direct access to our wholesale lenders’ rate sheets, these are available on the lender's website. Since you are able to go directly to the lender for a rate sheet there are no hidden correspondent lender fees, rate changes, or padding.

Which lenders is Pioneer Mortgage Funding approved with?

Pioneer Mortgage Funding is approved with over 50 of the most competitive lenders in the business to help you close more loans. We can broker almost any type of loan including Conventional, Jumbo, VA, FHA, USDA, Reverse Mortgages, etc. This allows you to serve your clients to the best of your ability by connecting them with potential lenders to determine the best mortgage products for their needs and situation. No situation or scenario is too complicated and we will work with you and our lenders to close your loans.

How do I access Pioneer Mortgage Funding’s lender portal?

MLOs must request access to the lender portal from the Corporate Office, and the Corporate Office will provide you with logins.

What type of loan origination software do I need to use at Pioneer Mortgage Funding?

Pioneer Mortgage Funding and its MLOs use Arive as our Loan Origination Software. Arive is a data management and loan origination software that allows users to input and store client data, as well as generate applicable forms, etc. Pioneer Mortgage Funding’s MLOs are required to purchase a seat license from Arive Software to obtain and use their unique login for the software. MLOs are required to record every application.

Who processes the loan? And how is the processor paid?

MLOs may engage the services of any contract processor on our approved contract processing list. You may also request for the Corporate Office to approve any of your current processors. Branch Managers may hire staff to work as a loan processor from their office. All applicants must be approved by the Corporate Office prior to being hired. In that case, the Branch Manager will assume all responsibility for oversight of the loan processor. This includes, but is not limited to, that processor’s work product, continuing education, etc. Processors who are employed in this way will be employed as a traditional employee who receives a W2.

How do I pull credit reports?

Pioneer Mortgage Funding and its MLOs use CIS, CIC, and Credit Technologies as our vendors for ordering borrower credit/consumer reports, identification verifications, and other similar reports. MLOs must request account set up with one of the three independent credit services from the Corporate Office. MLOs are responsible for paying the financial responsibility of all invoices on their individual CIS, CIC, and/ or Credit Technologies account.

How do I gain access to AMC Portals?

MLOs must request access to AMC Portals from the Corporate Office, and the Corporate Office will provide you with logins.

Section 2: Operational Information

Am I able to open a Branch Office and have MLOs to work under me?

Yes. In order to open a Branch Office and act as a Branch Manager, you must have experience in mortgage origination, and receive approval from the Corporate Office.

Branch Managers may recommend appropriate individuals to hire at their Branch Office. All applicants must be approved by the Corporate Office prior to being hired. Once an application is submitted, each recommended individual must pass all necessary compliance checks before approval to be hired is given. After approval to be hired is given, the Branch Manager sets up a compensation plan, in writing, for the MLO to be included in the MLO’s contract executed by the Corporate Office. Pioneer Mortgage Funding is the only brokerage that provides checkbooks to the Branch Manager. The Branch Manager writes checks to pay the MLO from this checkbook.

How do Branch Managers get paid?

Pioneer Mortgage Funding is the only brokerage that allows the Branch Manager to have their own Branch Office bank account and checkbook. The Branch Manager is responsible for running their own P&L reports. All funds go directly to your branch bank account, not to the Corporate Office account. The Branch Office bank account must have a $500 minimum balance.

Can my checks to be cut to my corporation.

No. We can only pay licensed MLOs.

Can I bring self-generated leads with me to Pioneer Mortgage Funding?

Yes.

Can I run my own advertisements?

Yes, you can, but all marketing and advertising material must be submitted to the Corporate Office for review. You must receive written approval from the Corporate Office for, any and all marketing or advertising material before disseminating such material. Advertisements will be reviewed and approved or denied. Changes may be suggested for any compliance, legal, or business reasons. All advertising must be in Pioneer Mortgage Funding's name. This applies to any form of advertising, including, but not limited to, business Cards; printed documents, online material, websites, social media profiles/pages, or posts that offers the MLO’s services, or explains loan products that are offered, any facsimile communication, any email solicitation, or social media communication intended to reach a broad audience.

Am I allowed to use a name other than Pioneer Mortgage Funding on social media or when advertising to promote my business?

No. If you are advertising or promoting mortgages on any online platform or print document, you must indicate you are affiliated with Pioneer Mortgage Funding, and use Pioneer Mortgage Funding branding on the advertisement, promotion, website, business social media account, etc. This creates consistent branding among Pioneer Mortgage Funding’s MLOs and Branches. You cannot advertise mortgages with a name that is not a licensed mortgage broker. It is very misleading to consumers, and can result in fines from the state.

After onboarding, the Corporate Office will provide you with Pioneer Mortgage Funding’s marketing and advertising policy which includes a detailed list of approved name variations and information that can be displayed when creating advertisements, websites, business social media accounts, etc. to promote your business in order to be in compliance with state regulations and Pioneer Mortgage Funding’s policies.

I want to print business cards and letterhead. Where do I get the Pioneer Mortgage Funding logo?

After the onboarding process, MLOs will be given access to Pioneer Mortgage Funding’s Internal Web Portal where you can find business card order forms and logos. Once your business card order form is filled out and approved, your material can be ready within 10 days.

Do I need to answer my phone as Pioneer Mortgage Funding?

Yes, all Pioneer Mortgage Funding MLOs must operate and advertise as Pioneer Mortgage Funding

Do the 1003, appraisal, credit report and all loan documentation need to be in Pioneer Mortgage Funding's name?

Yes, all paperwork that is submitted to the lender must be submitted as Pioneer Mortgage Funding

Can I originate my own loans or my spouse's loan?

Pioneer Mortgage Funding does not allow arm’s length transactions. Branch Managers must ensure that all employees, relatives, and business partners’ loans are not originated from the branch location. Pioneer Mortgage Funding employees or managers may not be the seller or borrower, and MLOs on any transaction of sale, whether the property belongs to a company owned by such or personal property. Pioneer Mortgage Funding employee and employee’s relative loans will be originated by the Corporate Office.

I currently have great relationships with certain Account Executives. Can I continue to work with those AEs, or do I have to switch to yours?

Typically, you will only use the AE who is currently assigned to the Pioneer Mortgage Funding account which is reflected on our lender list.

Do I need to be exclusive with Pioneer Mortgage Funding and operate as Pioneer Mortgage Funding?

MLOs are not required to be exclusive with Pioneer Mortgage Funding However, while operating under Pioneer Mortgage Funding, if you wish to originate in AL, CT, FL, GA, KY, MI, NC, OH, SC, TN, TX, & VA, you must originate as Pioneer Mortgage Funding If you are licensed in state other than the 12 stated above, you may originate in that state with a company other than Pioneer Mortgage Funding

Can I use Pioneer Mortgage Funding just for my out of state loans?

Yes, as long as your current company is not licensed in that state as well.

What address do I use on loan documentation, i.e., 1003 and disclosures?

You would use the address of the branch you are associated with which is either: Pioneer Mortgage Funding's Corporate Office address, or your registered Pioneer Mortgage Funding Branch Office address. You would never use your home address.

If I am working from a commercial location, do I need to register my branch with the state and or the NMLS?

Yes. You must notify Pioneer Mortgage Funding’s Corporate Office if you are operating out of a commercial office location, so we can register the branch with the state and NMLS. Branch registration fees differ by state. A few states require a 'home office' be registered.

Section 3: Transitioning to Pioneer Mortgage Funding

How long does it take to review my application for employment?

Once we receive your application, please allow 48-72 hours for us to run all compliance checks.

What's the best way to transition so I don't have a two-month gap in income?

You can immediately begin originating new loans under Pioneer Mortgage Funding once your license(s) are fully transferred to Pioneer Mortgage Funding, and the requested documents are received and processed by the Corporate Office. You may not originate any loans under Pioneer Mortgage Funding until this process is complete. Any loans originated out-of-compliance will be subject to return of commissions to borrower.

Once my application is approved, how long before I can start originating loans?

Once the compliance checks are completed, the Corporate Office will inform you of our findings. If the applicant passes the verification check and is appropriately licensed, the decision to enter into a contract will be decided by a member of the senior management of Pioneer Mortgage Funding If a member of the senior management approves the hire, a contract will be offered to the applicant. Once your licenses are fully transferred to Pioneer Mortgage Funding, the requested documents are received and processed, and you have received approval in writing by the Corporate Office, you may immediately begin originating loans under Pioneer Mortgage Funding MLOs may not originate until all the requested documents are received and processed by the Corporate Office.

Why should Pioneer Mortgage Funding be the last brokerage that you ever sign up with?

Pioneer Mortgage Funding leads the industry in integrity and professionalism, which has allowed us to create lifelong relationships in our community. Building a team that cares about their clients and helps them realize their dreams has built Pioneer Mortgage Funding into one of the most successful mortgage brokers in the country. Our strength is our relationship with the community and our lenders, and our Mortgage Loan Originators work to strengthen those bonds every day.

We understand that strong and successful Mortgage Loan Originators are the cornerstone of our business, and we foster a professional atmosphere that will support your ability to close loans quickly and effectively for your clients.

Pioneer Mortgage Funding is a Mortgage Broker that works directly with Lenders, we are not a correspondent lender. That means no hidden fees or sudden interest rate changes for you or your clients. It also means that you have direct access to our network of over 50 of the most competitive lending partners. We work with you to ensure that you have all the tools that you need to get the deal done.

In 2002, seeing a need for a high-quality brokerage in the Tampa Bay area, we developed a unique business model that sets us apart from other brokerage firms with the goal of helping our customers realize the American Dream of homeownership. Since then, Pioneer Mortgage Funding has developed into more than a mortgage company, we are a family of professionals who are committed to each other.

Frequently Asked Questions

Section 1: General Information

Section 2: Operational Information

Section 3: Transitioning to Pioneer Mortgage Funding

Think Pioneer Mortgage Funding is the right fit for you? Schedule a call to learn more about joining the Pioneer Mortgage Funding team

Contact Us

Quick Links