Brokers United

Mortgage Branch Opportunity - Mortgage Lender & Broker

MTG000: A Mortgage Branch Opportunity, Established in 2000.

Have A Representative Contact You On This Program: Apply Here

• Date established: 2000, ethical and successful management team
• Organization: Mortgage banker (Direct seller to Fannie, Freddie, Ginnie) or (BB&T, Bank of America, Chase, GMAC, Wells Fargo)
• Underwriting: Full Eagle, Internal underwriting except reverse mortgages
• Pricing: Very competitive, manager can build an override to their office P&L (Optimal Blue)
• LOS System: Encompass
• States licensed: AK, AL, CO, CT, DE, DC, FL, GA, IA, KS, MD, MA, MI, MN, MO, OH, NH, NC, NE, OK, PA, SC, TN, TX, VA, WV, and WI
• States pending: AZ, CA, IL, IN, KY, LA, IN, MS, NJ, NV, NY, OR, RI, UT, WA
• Fees: $500 / mo per branch plus
  $100 per loan officer per month  
  $845 underwriting / commitment fee per file, no per file fee  
• Broker (reverse or niche) 50 basis points
• Experience: 5 years +

• Production req.: 10 loans or $15,000 in revenue per month for office
• Credit history: Solid and stable, no recent bankruptcy or divorce
• Criminal history: No felonies or pattern of criminal offenses
• Income: Greater than 50K per year the last two years
• Payroll: W-2, twice a month, P&L charge 10% match on W-2 income
• Benefits: Health, supplemental, 401-K
• Remote/home L/O: Not available
• Marketing: Support and materials provided, lead management systems
• Processing: Available if needed, loan officers not allowed to process own files
• Support: Intranet, operations, licensing, compliance, HR and accounting, products / help desk, sales training, continuing education, AMC
• Reserves: 2 months operating or $5000, will allow time to establish