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Bill Rapp, Mortgage Originator:
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HERE'S WHAT MY CLIENTS SAY:
What People Are Saying:
Excellent Service
Bill is an exceptional loan officer. He helped us to purchase our home with very personal and professional service. He helped us navigate the whole process from start to closing without any problems. We didn't think we're qualified to purchase a house, but Bill went above and beyond to find a way to help us achieve our goal. He always responded very quickly with our requests, he would come back with different options with comparison chart to clearly indicate how much we need for down payment, monthly payments, interest rates, closing costs etc.
We would highly recommend Bill to anyone in need of lending services. In fact, we have already recommended Bill to one of our friends on purchasing a house.
--- David Chan - Houston, TX
Bank Statement Lending!
William Rapp of Network Funding, L. P. was very professional and I felt comfortable in dealing with him. I will definitely recommend him to family and friends.
--- Ian F - Missouri City, TX
Professionalism - Expert In Home Style Loan
Bill is an expert in the topic, his explanations and online material make a difference and he is always there from the beginning to the end. He is committed to make thing happen.
--- Felipe Caldern & Carolina Angel Gutierrez
Great Service!
Bill Rapp's handling of our loan (even though out of state) was unparalleled to any service I have been through prior, including 3 different real estate transactions and multiple refinances. Extremely quick close, with great options and flexibility for my families needs. All around A+
--- Chris & Beth Sheehan - San Jose, CA
Knowledgeable and Responsive!
Bill was a pleasure to work with and he made the loan process fairly easy. He answered all questions I had very quickly and was straight forward in doing it. I would recommend Bill to others.
--- Wes Brady - Richmond, TX
Very professional and always returned our calls!
Bill takes a lot of pride in his job and is very dependable. They were very patient and understanding. He went out of his way and explained all my questions and concerns. They were very professional and returned my phone calls and emails. He did a great job and I fully recommend him.
--- Therese, Malcom & Shirley Teixeira - Katy, TX
Great Job!
Bill helped us out from beginning to end of loan process. The loan closed in a timely manner as Bill worked hard with bank to get our to the final steps.
--- Kamal & Theresa Wilson - Hartford, CT
Avid Problem-Solver and Absolute Pleasure to Work With!
Bill Rapp worked very hard to ensure that we closed our loan and were able to move into our new home. He always had alternatives to any problems we encountered while closing. He worked with us from the beginning identifying solutions to any problems that we were having. He was an absolute pleasure to work with!
--- Nikita Rayani & Sanit Tejani - Houston, TX
Awesome to work with!
Being a first-time buyer I came in with lots of questions and concerns. Bill was always available for any questions I had and answered everything to my satisfaction. Bill made the loan process so painless that I could still concentrate on other things. We ended up closing early which made things even better. If you are in need of a lender and want someone who is very approachable and stays on top of your loan then Bill is your guy.
--- Cesar Raya - Richmond, TX
Loan Declined by my bank, and he saved the day!
Bill, did an amazing job helping me close on my house. He took the reigns and reassured me the best route to take to help close. He was accountable, thorough and trustworthy. I will continue to work with Network Funding, L.P. when it comes to home buying in the future because of the quality of service Bill gave.
--- Jacob Smith - Boerne, TX
Bill Rapp Will Definitely Make It Happen!
Bill is the most kind, patient and helpful person I have ever known. He answers his phone calls and emails promptly. You can ask him a million questions, and he will answer each and every one of them. Before I started working with Bill, I had been turned down for a home loan, because of some past credit issues I had, plus I was a single mother. However, once I started working with Bill, he was able to quickly get me a home loan, with a good interest rate. I would recommend that you call him, as he will help you.
--- Corinne Wilson - Roselle, NJ
Knowledgeable, Honest, Trustworthy, and Reliable!
"I will definitely keep you in mind. If anyone I know needs financing, I will send them your way!"
--- Jon & Andrea Saleem, CRPC Financial Advisor - Houston, TX
Best Dam Mortgage Guy a man could know!
"Hands down the best loan experience to date!"
--- Gabe & Chelsea Jackson - Pearland, TX
Phenomenal, Hard Working and Never Quits!
Had a stupid foreclosure that could have been avoided if ex’s attny would have sent my buy out offer. So Bill was able to push this through with a 4 year foreclosure. He worked his butt off, was very diligent with his communication; and was very professional talking to me even when I was screaming and/or crying at him. Highly recommend this lender. He really go to the ends of the earth to help you!
--- Liz Keeter - Harlingen, TX
Exceptional customer service!
Bill is the most kind, patient and helpful person I have ever known. He answers his phone calls and emails promptly. You can ask him a million questions, and he will answer each and every one of them. Before I started working with Bill, I had been turned down for a home loan, because of some past credit issues I had, plus I was a single mother. However, once I started working with Bill, he was able to quickly get me a home loan, with a good interest rate. I would recommend that you call him, as he will help you.
--- Isha Lopez & Mauricio Garcia - Houston, TX
Service with a capitol S
Bill went above and beyond at every turn. He worked late on Saturday, he worked late all the time. We wanted to close ASAP and he really helped make it happen for us.
--- Jeff & Wendy Heger - Houston, TX
Best Buying Experience!
I would would highly recommend going with Network Funding LP. As a first time home buyer I didn't know what to expect. Bill Rapp was very helpful in answering all my questions and guided me through all ghe steps. I couldn't have asked for a better buying experience!
--- Tabitha Turner - Humble, TX
Would recommend him and use him again!
Very involved and professional . Kept me informed and up to date on everything that was going on Went with me closing and was very helpful and knowledgeable.
--- Kathy Ward - Houston, TX
Great experience!
Well I meet bill back in December 2016 he got recommended by my real estate agent we had a house in sight and started the process to get approved but we fail due to my work history and credit bill told me not to give up and put me in contact with a credit repair company they help me bring my score up and bill walk me thru the process of getting a new line so this time around we got approved before looking for our house after we found it we still had a couple of hick up but with bills help on Sunday 6-18-17 to be exact Father's Day bill called me to give me the great news that we had got approved and the closing date was as scheduled bill was more than just a lender to my family he became a friend and I'm alway going to have him in mind for any other financial situation.
--- Alejandres Felimon - Richmond, TX
I really liked his attitude!
I wouldn't usually say this but the way he had handled my mortgage was really pleasant. I personally enjoyed the time spent with him while we discussed feasible rates. He's a great man with a great personality and he offered really low interests as well. Definitely recommend him to others.
--- Tom Troiano - Atlantic City, NJ
He's nothing short of a miracle!
I'm a self-employed businessman and had him figure out the mortgage of the house after 30% down payment. The interest rates I received were incredibly low given what I had thought of earlier. One other important thing to note was that I hadn't really taken any loans earlier, so I had no credit history. He helped me out with all that as well so I can't really call him anything else but a miracle.
--- Fran Suarez - Cleveland, OH
He's really helpful!
I made a bid to him and the very same day he gave me an offer which I couldn't resist. It was too intimidating with those incredibly low interest rates and all, thoroughly recommend him.
--- Kenny Mickle - Houston, TX
Expeditious!
Bill was very expeditious and made it real easy going through the loan process. I felt he was on top of things.
I deal with investment properties and will more than likely call on him again.
--- Wayne King - Pensacola, FL
Bill was great!
Bill made us feel like a friend all the way thru the process. He was patient and explained everything he needed clearly. He was available ANYTIME we had questions or needed more information. Hopefully we won’t go thru this process again anytime soon, but if we do - we’d choose Bill! =)
--- Barbra & Nick Grimmer - Austin, TX
Great broker!
Bill was a great broker to work with. As first time home buyers we had many questions about the process, Bill took the time to help us even calling us back on weekends with answers. I would not hesitate to recommend him to anyone looking for a broker to work with.
--- Murray & Lisa Turner - Pensacola, FL
Outstanding service!
I couldn't have been more pleased with Bill's level of service. He made what is typically a lengthy, arduous process far quicker and easier at every turn. I'm extremely comfortable recommending Bill to friends and family, and will definitely utilize his services again!
--- Jim Lipari - Austin, TX
Jumbo and Non-QM Mortgages: Made Simple
Getting a jumbo or Non-QM mortgage is easier than most people expect. This guide explains what these loans are, who they’re for, and when they make sense.
What Is a Jumbo or Non-QM Loan?
A jumbo mortgage—also called a non-conforming loan—is any mortgage that does not meet the guidelines set by Fannie Mae and Freddie Mac.
Fannie Mae and Freddie Mac were created by Congress to provide liquidity and stability in the mortgage market. They buy mortgages from lenders, but only if those loans meet strict rules for:
Loan amount
Credit score
Down payment
Debt-to-income ratio
Post-closing reserves
Loans that exceed these limits are considered non-conforming.
When Do You Need a Jumbo Loan?
You’ll need a jumbo loan when the loan amount exceeds the conforming limit in your area.
How Jumbo and Non-QM Loans Are Underwritten
Jumbo loans are evaluated using the same fundamentals as conventional loans:
Credit score
Down payment
Debt-to-income ratio (DTI)
Cash reserves after closing
That said, jumbo loans often allow more flexibility in how those factors are evaluated.
Credit Scores
Most jumbo programs are available with credit scores as low as 660, though higher scores receive better rates. Borrowers with 760+ credit generally receive the most favorable terms.
Cash Reserves
Jumbo loans usually require more reserves than conforming loans.
Typical requirement: 12 months of reserves
Often split between liquid cash and retirement assets
Exceptions may be available with strong income, low DTI, or large down payments.
Where Jumbo Loans Are More Flexible
Higher DTI allowances
While conforming loans often cap DTI around 43%, jumbo loans may allow higher ratios if the borrower has strong reserves or equity.
More logical income analysis
Self-employed borrowers may qualify with one year of tax returns instead of two if they can document business stability and industry experience.
Lower down payments without mortgage insurance
Some jumbo programs allow 10% down—and sometimes less—without mortgage insurance. Rates may be slightly higher, and DTI requirements are typically stricter.
Piggyback loan structures
In certain cases, buyers can combine a first and second mortgage to reduce the down payment to as little as 5%. These structures are highly specialized and lender-specific.
Who Typically Uses Jumbo or Non-QM Loans?
These loans are well-suited for high-income earners who don’t want—or don’t have—their wealth tied up in cash. This group is often referred to as HENRYs: High Earners, Not Rich Yet.
HENRY borrowers often:
Earn $250,000–$500,000+ annually
Have strong credit histories
Hold significant retirement and investment assets
Prefer liquidity over tying up cash in a large down payment
Tax Considerations
Jumbo loans don’t automatically create tax advantages.
Mortgage interest is only deductible on the first $1 million of mortgage debt. If your loan exceeds that amount, the interest on the excess is not deductible.
For this reason, some borrowers choose to compare:
One jumbo loan
vs.
Two smaller loans or alternative structures
Always consult a tax professional before assuming tax benefits.
Choosing the Right Professionals
Buying a home—especially with a jumbo or Non-QM loan—is complex. You should always work with professionals who represent your interests, not just the transaction.
Real Estate Representation
Seller’s agents represent the seller
Buyer’s agents represent the buyer
Transaction brokers represent no one
As a buyer, it’s almost always best to work with a buyer’s agent who has a legal duty to protect your interests.
Mortgage Broker vs. Bank
A mortgage broker typically has access to many lenders, not just one bank’s in-house programs. This often results in:
Better pricing
More flexible loan options
Specialized programs banks may not offer
Even if you like your bank, remember: most banks sell loans shortly after closing anyway. Loyalty should never cost you better terms.
Foreign National Mortgages
You do not need to be a U.S. citizen to qualify for a mortgage.
Eligible Borrowers
Permanent residents (green card holders)
Non-permanent residents with valid work authorization
Refugees or individuals granted asylum
Non-resident foreign buyers may also qualify, but usually with:
Higher down payments (30–50%)
Higher interest rates
Fewer program options
Legal residency and proper documentation are mandatory.
Bank Statement Loans for Self-Employed Borrowers
If you’re self-employed and traditional tax returns don’t reflect your true income, a bank statement mortgage may be the solution.
How They Work
Instead of W-2s or tax returns, lenders use 12–24 months of bank statements to calculate income based on actual deposits.
Ideal For:
Business owners
Independent contractors
Freelancers and gig workers
Borrowers with significant tax write-offs
Trade-Offs
Because these loans are considered Non-QM:
Rates are typically higher
Down payments may be larger
Terms vary widely by lender, so shopping matters.
Final Thought
If you’ve been told “no” by a bank or lender, it doesn’t mean you can’t qualify—it often means you’re speaking with the wrong person.
In real estate and lending, who you work with matters.
Questions About Jumbo, Non-QM, or Bank Statement Loans?
Schedule a free, no-obligation consultation with a mortgage expert who knows how to structure complex deals efficiently.
Contact the Mortgage Viking
📞 281-222-0433
🚀 Is It Time to Change Mortgage Companies? 10 Questions Every Loan Officer Should Ask 🏡
🚀 Is It Time to Change Mortgage Companies? 10 Questions Every Loan Officer Should Ask 🏡
💰 Thinking About Switching Mortgage Companies? 10 Questions That Could Transform Your Loan Officer Career 🔥
________________________________________________________________________________
Is It Time to Change Mortgage Companies? 10 Questions Every Loan Officer Should Ask
By Bill Rapp Jr. | Director of Capital Advisory | Medallion Funds
Are you working harder than ever as a mortgage loan officer but wondering whether your current company is helping you reach your full potential?
Maybe your compensation isn't competitive. Perhaps your lender options are limited, your processing department is overwhelmed, or you're spending more time managing operational problems than generating new business.
Or maybe you've simply outgrown your current mortgage company.
Choosing the right mortgage company can be one of the most important business decisions a loan officer makes.
Whether you're working for a bank, retail mortgage lender, correspondent lender, or independent mortgage brokerage, the platform you choose directly influences your earning potential, client experience, product availability, and long-term growth.
At Medallion Funds, we believe successful loan officers need more than a place to originate loans. They need competitive compensation, meaningful operational support, strong lender relationships, and the freedom to build a sustainable business.
Before making your next career move, ask yourself these 10 questions.
1. Is My Mortgage Loan Officer Compensation Competitive?
Compensation is often the first reason loan officers consider changing mortgage companies.
But the highest advertised commission split doesn't necessarily translate into the highest take-home income.
Evaluate your total compensation structure, including commission splits, basis-point payouts, transaction fees, technology costs, marketing expenses, and other applicable deductions.
Consider this example:
Compensation factor | Company A | Company B |
Annual funded volume | $12 million | $12 million |
Illustrative gross production compensation | 100 bps | 100 bps |
Illustrative LO payout | 50% | 65% |
Annual LO compensation | $60,000 | $78,000 |
Hypothetical illustration only. Actual compensation depends on company policies, loan economics, applicable law, fees, and individual agreements. Not a Medallion Funds compensation quote.
That's an $18,000 difference before considering additional expenses.
Ask yourself: Am I evaluating the complete economics of my compensation, or only the advertised split?
2. Does My Company Offer Enough Mortgage Loan Programs?
One of the biggest frustrations for productive mortgage loan officers is having to turn away borrowers because their company lacks the appropriate lending program.
Today's borrowers have increasingly diverse financial profiles.
A competitive mortgage brokerage should provide access to a broad range of financing options, potentially including:
·Conventional, FHA, VA, and USDA loans
·Jumbo mortgage programs
·Doctor and dentist mortgage loans
·Non-QM and bank statement mortgages
·DSCR investor loans
·Asset-utilization mortgage programs
·HELOC and renovation financing
·Commercial real estate and SBA financing through appropriate lending channels
Product availability, eligibility, and licensing vary.
A broader lender network may allow you to serve more borrowers without sending viable opportunities to competitors.
Ask yourself: How many qualified borrowers have I lost because my current company didn't offer the right financing solution?
3. Am I Getting the Processing and Operational Support I Need?
Your income depends on closing loans, not chasing conditions all day.
A strong mortgage company should provide reliable processing, responsive communication, clearly defined responsibilities, and a consistent closing process.
When evaluating a potential new mortgage brokerage, ask about:
·In-house versus outsourced processing
·Processor workloads and escalation procedures
·Underwriting communication
·Average turn times by loan type
·Closing coordination and post-closing support
A better-supported loan officer can devote more time to prospecting, developing referral relationships, and serving clients.
Ask yourself: Is my company helping me originate more loans, or forcing me to manage every detail myself?
4. Is My Mortgage Technology Helping or Hurting My Productivity?
Technology should simplify mortgage origination, not complicate it.
Modern loan officers need efficient systems for borrower communication, document collection, pipeline tracking, and referral partner management.
Look for a platform that includes a customer relationship management system (CRM), loan origination tools, secure document management, automated follow-up, and marketing capabilities.
Medallion Funds emphasizes technology and CRM resources as part of its loan officer platform.
Ask yourself: Does my current technology make me more productive, or am I losing valuable time to disconnected systems?
5. Does My Company Help Me Build My Personal Brand?
Successful mortgage loan officers don't simply originate transactions. They build relationships and reputations that generate repeat business.
Your mortgage company should support your ability to establish a recognizable professional brand.
That can include social media marketing, educational video content, referral partner outreach, digital lead nurturing, and co-marketing opportunities that comply with applicable advertising and referral rules.
A loan officer who builds a strong personal brand becomes less dependent on company-generated leads.
Ask yourself: Am I building a business that I control, or relying entirely on my company's marketing?
6. Can I Offer Both Residential and Commercial Financing Solutions?
This is an often-overlooked opportunity for mortgage professionals.
Imagine helping a self-employed borrower purchase a home today, then discovering that the same client needs financing to acquire an office building, purchase a medical practice property, or refinance an investment asset.
At many mortgage companies, those commercial financing opportunities are referred elsewhere.
Medallion Funds combines residential mortgage capabilities with access to commercial real estate financing resources.
For appropriately qualified opportunities, this creates the potential to develop relationships with investors, business owners, doctors, dentists, and commercial property owners.
Commercial transactions require different underwriting, licensing considerations, and compensation arrangements.
Ask yourself: Am I maximizing the long-term value of my client relationships, or missing opportunities beyond residential mortgages?
7. Does My Company Provide Training and Professional Development?
Mortgage guidelines, investor overlays, loan products, and market conditions continually evolve.
Loan officers need ongoing education to remain competitive.
The right mortgage brokerage should help you understand complex lending programs, strengthen borrower qualification skills, develop referral networks, and improve your business development strategy.
Training is particularly valuable when transitioning from retail lending to the mortgage broker model.
Ask yourself: Is my company investing in my professional development, or am I expected to figure everything out on my own?
8. Do I Have the Flexibility to Run My Business Effectively?
Experienced mortgage loan officers often value independence.
They want the ability to build their own referral relationships, manage their pipeline, market their services, and pursue the borrower segments that fit their expertise.
However, flexibility must operate within company policies, licensing requirements, investor guidelines, and applicable regulations.
A strong brokerage balances entrepreneurial opportunity with effective compliance oversight.
Ask yourself: Does my current mortgage company support my business strategy, or unnecessarily restrict how I grow?
9. Is Leadership Accessible and Invested in My Success?
Company culture can have a significant impact on a loan officer's long-term satisfaction.
When a complicated transaction arises, can you reach someone who understands lending and can help solve the problem?
When you identify a new market opportunity, does leadership listen?
When business slows, does the organization offer practical support?
At Medallion Funds, our philosophy is centered on helping mortgage professionals build sustainable businesses through lending resources, operational support, and relationships.
Ask yourself: Am I treated like a valued business partner or simply another production number?
10. Where Will I Be in Three to Five Years If I Stay?
This may be the most important question of all.
Imagine staying with your current mortgage company for another three years.
Will you have increased your annual funded volume? Developed stronger referral relationships? Expanded your product knowledge? Built a recognizable brand? Improved your earnings and operational efficiency?
If you cannot identify a realistic path toward those outcomes, it may be time to evaluate other mortgage companies.
Changing mortgage companies should not be an emotional reaction to a difficult month.
It should be a deliberate business decision based on your professional goals and the resources available to help you achieve them.
Ask yourself: Is my current company the right platform for the business I want to build?
When Should a Loan Officer Consider Changing Mortgage Companies?
Not every frustration means you should immediately leave.
However, several persistent warning signs deserve attention: limited loan products, uncompetitive net compensation, recurring processing problems, inadequate technology, weak leadership communication, and a lack of professional growth opportunities.
Before changing companies, compare written compensation agreements, licensing requirements, transition procedures, pipeline treatment, client communication responsibilities, and any contractual restrictions.
The goal isn't simply to find a new company.
The goal is to find a better platform for your long-term success.
Why Consider Medallion Funds?
Medallion Funds offers mortgage professionals an opportunity to explore a brokerage environment focused on lending flexibility, business development, and operational support.
Our platform includes access to multiple mortgage product categories, CRM resources, in-house processing capabilities, and commercial financing opportunities.
For experienced, self-generating loan officers, the ability to combine residential and commercial lending relationships can provide a meaningful point of differentiation.
Individual compensation terms, support arrangements, product access, and eligibility should always be confirmed during the recruiting process.
Frequently Asked Questions
Is it worth switching mortgage companies for a higher commission split?
Possibly, but compare net earnings after all fees and expenses. Also evaluate operational support, lender access, pricing, and closing performance.
Is a mortgage broker better than a retail mortgage lender?
Neither model is automatically better. A mortgage brokerage may offer broader lender access and more flexibility, while retail lenders may offer different operational resources or lead-generation structures.
Can a loan officer move from a bank to a mortgage brokerage?
Yes, subject to applicable licensing, registration, employment, and transition requirements. State-licensed mortgage loan originators generally have different requirements from certain federally registered bank loan originators.
What happens to my pipeline when I change mortgage companies?
Pipeline treatment depends on employment agreements, company policies, borrower authorization, lender requirements, and applicable law. Review these details before resigning.
What should I ask a mortgage company before joining?
Request clear information about compensation, lender access, processing, technology, marketing, compliance, leadership, and long-term growth opportunities.
Final Thoughts: Your Mortgage Career Deserves the Right Platform
You work hard to build relationships, earn referrals, qualify borrowers, and close loans.
Your mortgage company should provide the resources and support necessary to help that effort translate into sustainable success.
If you've been questioning whether your current mortgage company is still the right fit, consider having a confidential conversation about your options.
Ready to Explore Your Next Opportunity?
I'm Bill Rapp Jr., Director of Capital Advisory with Medallion Funds.
If you're an experienced mortgage loan officer considering a change, I'd welcome a conversation about your goals, the brokerage model, and whether our platform could be a good fit.
Connect with Bill Rapp
·Website: MedallionFunds.com
·Email: [email protected]
·Schedule: Book a conversation
·YouTube: Medallion Funds Mortgage Channel
Bill Rapp
Partner & Director of Capital Advisory | Medallion Funds
Commercial Lending Nationwide
Residential Lending in AL, CA, CO, NV & TXBottom of Form
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Main Office:
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[email protected]
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