A net branch Mortgage lender can offer a modern and potentially highly satisfactory conduit to expand the existing mortgage business without spending considerable extra capital. A branch can also offer talented, low-net worth loan officers the opportunity to grow their own business and secure a better future for themselves. Checkout branch opportunities for more info.
But when choosing the right net-branch mortgage lender, you need to be careful. If the arrangement is not properly structured or managed and supervised with sufficient care, legal, regulatory, and investor constraints can create a host of potential pitfalls that could result in financial disaster for the sponsoring company, the branch, and possibly their respective directors. For example, you can’t be a 1099 employee with loans originating in this industry or FHA co-broker loans: this is illegal, and those who do so put you at risk of large fines. One thing is for sure-no one should casually enter into a branch arrangement.
Find a net branch mortgage lender that will provide you with options as your business fluctuates through the more challenging months, or if you decide to take some time. What’s more, choose a company that won’t keep you processing corporate paperwork, pulling you away from what you do best, selling!
Take the time to find a well-established net branch mortgage lender who was careful to isolate himself in the overzealous mortgage market from the turmoil. A company that performs the proper background checks when it brings branch managers on board, protects you from losing lenders and leads our industry away from an era of greed and deception. Consider the following when making your passage to the next level.
Friendly back office systems user friendly.
Skilled support staff.
The monthly options are flexible.