Net Branch Underling?

November 10, 2010 Timmy

I have been trying to get affiliated with a net branch for a few months now. Since I dont have two years verifyable experience in the mortgage business, I have been unsuccessful. However, I am perfectly capable of handling a brokers office. About three weeks ago I followed the advice of a friend and opened up an office to operate under another net branch to fulfill my 2 year tenure, BUT I had no idea that I would ever get “Shafted the way that I have by this other net branch, and when I confronted the branch manager about it he said that if I didn’t like it that I should try and go else where. So here I am. I have 52 deals working, with 4 that are suppose to close within a week and my phone ringing off the wall with more business to follow. I have 4 realtors that keep sending deals almost every day, 4 computers, 3 loan officers, a contract processor, and NO LICENSE….. does anybody have any earthly idea what I should do? If you do, please call me at 501-883-2648. Thanks

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Net Branch

October 31, 2010 Timmy

Does anyone have any info on who would be best to sign on with as a net branch……..who covers the most states in usa if not all of hem…………who doesnt require high reserve acct deposits or high sign on ees…….someone who allows you to work out of your home………but also, ays the best 100% or not less then 90%.

The little prob. that you will run into with these guys are that they will require all govie loans to go to Oceanwest for first look and the pricing is not consistent with the market that we have.  They have some pluses such as the potential to operate as a DBA and check writing ability in a controlled manner, but definetly some negatives.  I feel that the negatives outweigh the positives.    Also, if you do broker outside of Oceanwest you will have to provide to Oceanwest a copy package of all your subprime final submissions after Oceanwest gets first look.  A nuisance…  I’ve looked into these guys when shopping for a net branch to call home and eventually decided to hang my hat with Accent Mortgage Services, Inc. – no finders fee, purely out of the sweetness of my heart I will recommend these guys…

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