Global equity lending
Global Equity Lending is popularly known by the acronym (GEL). Global Equity Lending is a residential mortgage broker. It is also a subsidiary of World Leadership Group (WLG).
The World Leadership Group functions as the marketing company for the Global equity Lending. It is also the marketing agent for Global Realty Marketing and other such companies.
Global Equity Lending is different from other mortgage brokers because of its unique marketing strategy. The company invests itself completely, in creating a positive image for its loan applicants and employees. There is no other precedent for such unique strategy and deliverance in the mortgage broker market.
The foundation of Global Equity Lending was laid in 2001 by Humphrey Hubert. This company is not an associate of the World Financial Group. Nor is it connected with the National Lending Group. Hubert Humphrey owns World Marketing Alliance, its logo and the World Marketing Alliances mortgaging services. This is after selling a large portion of the assets of WMA to the World Financial Group; which is owned by Aegon. Hubert Humphrey has invested his remaining assets to form a new group of companies called the, World Leadership Group companies.
Global Equity Lending is very open to accepting all associates who are interested in enrolling as recruiters. They also accept inexperienced volunteers without licenses. To sign up, the recruit has to pay one fifty dollar criminal background fee. Global Equity Lending proceeds to hire and train most of its applicants on enrollment. The training period covers a span of several weeks. The trained applicants are allowed to sell its home loan products directly to their clients, as representatives of Global Equity Lending.
Fresh associates normally receive a commission ranging from thirty to forty percent on the gross profit generated by the broker, when he closes a loan successfully. An associate of Global Equity Lending is called a Loan Originator, as soon as he is recruited. This is unlike the recruiters of other mortgage brokers in the market. The company also offers good incentives and opportunities to its associates. They are offered better commissions, based on the number of loans closed by them in a certain period of time. They can also increase the profits generated from the down line or the group they have enrolled under them.
Global Equity Lending is like a system of franchising for its loan originators. However, the company support is without advertising support and leads. A new originator is required to market loans to his contacts which consist of friends, family and working colleagues. An employee who markets to their present contacts can aspire to achieve higher levels of returns in forms of awards. This is given to him either at the initial orientation, or the subsequent meetings which are motivational in spirit.
Global Equity Lending charges a non-refundable admin fee from its applicants. The fee is 12.50-75.00 dollars from all those who apply for loans. This is not dependent on the outcome. This policy of GEL has come into a lot of criticism. The burden is however redeemed by including the actual charges for the particular loan, credit report generation fee and overnight fee that Global Equity Lending has to pay, to the outsourced companies.
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