UMortgage launches flat-fee model to recruit 1,000 loan officers

Previously, UMortgage operated with a 50-bps corporate margin. On a $500,000 loan, that equated to about $2,500 in company revenue, or roughly $250,000 annually from an originator who closes 100 loans. Under the new structure, revenue in that same scenario would total about $49,750 — roughly 20% of the prior level.

Casa said the model mirrors approaches long used in residential real…