Net Branch Opportunity FAQ

Frequently Asked Questions about our net branching program for loan officers.

Q. Are you a lender?
A. We are licensed as a lender/banker in most states but we fund all loans as a broker.

Q. Can your loan originators broker to any lender?
A. We are approved to broker to every major investor. If we are not approved with the investor you need will will sign up with them.

Q. Is your company FHA approved?
A. Yes - we have been approved to originate HUD (FHA/VA) loans for over 10 years.

Q. What are the startup costs?
A. There is a $145 charge for the branch manager background check and processing the branch application. The branch is also responsible for all third party startup costs including any required branch licensing.

Q. How much experience does your company have with net branching?
A. That is a very important question! We established our first net branch almost 9 years ago. We have more experience than most companies.

Q. Do you have a reserve requirement?
A. Yes - This is standard for all net branch companies. The branch is required to establish within the first 60 day of operation a reserve account for the branch's fixed expenses. Most other companies require this upon branch approval.

Q. Can I process my loans?
A. Yes. You can process your own files or use an approved contract processing firm. We do not process loans for our branches. We encourage local processing.

Q. How much will I earn?
A. Our branches earn 100% of all fees, after a $395 per file fee (in most states) minus branch operating costs. We also have a monthly flat fee program. In place of the per loan fee the branch can use our flat fee program of $1,500 per month (not available in all states). The normal branch operating costs, like rent, utilities, etc. are incurred on both programs.

Q. Do you markup rates?
A. No. We do not add anthing to rates. You get direct investor pricing.

Q. Do I have to work from a retail office space?
A. We prefer that you have an office. Please note that to originate FHA we require a commercial space. An executive suite meets the minimum requirement in most states. If you are not sure of the requirements please contact us.

Q. Can I hire other loan officers?
A. Yes.

Q. What LOS software do you use?
A. We use Mortgage Dashboard.

Q. What type of loans cannot be closed?
A. High cost

Q. How long does it take to get setup to originate loans.
A. The average time is 2-4 weeks. It's a 3 step process to originate FHA loan. Usually it takes 3 - 4 working days from the date we receive your completed employment package for branch approval - this is the 1st step. For the 2nd step the branch, and originators must meet any state licensing requirements, this can take a few days to weeks depending on your state's requirements. FHA is a third step that can take 2-3 days.

Q. Why is FHA an extra step?
A. We obtain an FHA connection number for each branch. This allows our branches to originate and process from the branch. Most companies do not do this. Most other companies require their branches to send all FHA loans to a centralized processing center. We think local origination and processing is better!

Q. What states are you in?
A. We are currently active in 30 states - See current list of active states.

Q. Can I be paid as a W-2 employee?
A. Yes - All branch personnel including the branch manager, loan officers, and office staff are paid as W-2 employees. We do not pay originators or branch managers as 1099 contractors.

Q. Can I make a referral fee if I recruit other branch managers?
A. Yes - You can earn a recruiting fee and ongoing bonuses for helping us find other branch managers after you join the company.

Q. What is the next step?
A. The next step is for us to talk to determine if this is the best opportunity for you.

Let's Talk... contact us today to get started.

If you would like to learn more about our Net Branch Opportunity please complete the contact form below.

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