Mortgage Bankers Net Branch

If you are searching the internet for a net branch for mortgage bankers you should consider several things before you rule out a net branch opportunity that brokers instead of acting as a mortgage banker.

Isn't being a mortgage banker better? Not really!

There are several key reasons. As a mortgage banker your net branch company is tied to a few investors that they sell loans to. That means that your company's ability to lend is controlled by a few outside companies and you are now limited to options.

Let's use an FHA loan as the example. If you take the same FHA loan package and send it to 4 different investors you will not get the same rate and terms from all four investors.

It's kind of like Goldilocks and the three bears. To high of a rate, to many conditions, and just right. The problem is the next loan package will get a "just right" from a different investor.

When your net branch company is a mortgage banker you are stuck with to high of a rate or to many conditions a lot of the time. HUD has a restriction on FHA lending a nd brokering that say if your net branch company is acting as a mortgage banker they cannot broker any FHA loans. They cannot broker the FHA loans that their company (investors) turn down.

Net Branch Mortgage Bank?
Broker is better!

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