In the last post we covered broker vs. lender for FHA loans.

Now let’s take a look at the next items on the list of important criteria you should consider if you are considering a net branch opportunity and intend to originate FHA loans.

FHA originated using the corporate address or the branches?
Corporate processing of FHA loans [...]

In the previous post we looked at the common questions everyone asks.
“What are your net branch fees and how long will it take to get approved?”
I speak to people everyday that are looking for a mortgage branch partnership. Many times the key questions are not asked.
The questions that I think are important to ask [...]

What are your fees?
How long will setup take?
These are the most common questions I am asked.
Are they the most important?
My answer is NO!
These are important questions but just about every company is close to the same answer.
Most companies are between $350 and $500 per file.
(We are $395 in most states)
Most companies are about 3-7 working [...]

I want to originate in every state where you are active.
In my work speaking to prospective branch managers I hear this statement every day.
My answer / question is always the same. Are you sure?
I then ask several important questions.

Have you researched the licensing requirements for loan officers and branch offices in the states where [...]

This is a very important topic that many net branch companies do not want to address.
Q. Can you work for a mortgage net branch company and be paid all or part of your income as a 1099 contractor?
(There are many companies telling prospective branch managers that this is OK - legal - [...]