If you are looking for an opportunity that is too good to be true, keep looking!
I don't have it for you. We recruit now for 10 net branch companies a state and FED Charter bank.
There pro and cons to each opportunity and no one opportunity is best for
everyone. Heck maybe you should not be a net branch at all.
I can think of as many reasons not
to net branch, as I can to net branch. At the end
of the day, it all boils down to your own unique
set of circumstances, that may not be the same, in
some significant ways a year from now. So while, a
net branch, might not be a good fit for you now, it
could be 12 months from now. I just had a call the
other day, from someone, in a state where there is a
bill pending, that could raise the cash investment
investment from $0 to $250,000- .
I expect many brokers in that state will be looking
at net branches or VLO opportunities if the bill passes. It costs
10-14K per year to maintain a license in some
states and $500- in others. The ability to do GOVY
loans has not really been much of an issue these
past few years, with all the sub-prime lenders
lined with Green to lend to anyone with a
pulse however GOVY loans could tilt the scale
toward net branches for some brokers in the future
if the sub-prime lenders continue to crash and
burn.
In any case if you think a net branch or a VLO might be for you I have a list
of opportunities below.
$500- __per__ file__ no__ set__ up __fee / See Opportunity #3
Exempt LO's see off site opportunity #1
New York Branches See Opportunity #11
New York LO's see off site Opportunity #4
Work from home LO's that want to process their own files see
off site Opportunity #5
LO's or branch managers with weak credit
Opportunity #4 and 8 ignore your credit.
off site Opportunity #1 weak credit is okay as
long as there are no tax liens.
Opportunity #12 "pending" Great for DBA and 1099
for branches that qualify.
Opportunity #1
FED Charter
Required Monthly Production is 3 million per month.
__________________________________________________ ___________________
Opportunity #2)
If you are looking for low start up costs and have or will open a physical office within 6 months this might be a good opportunity for you. Monthly volume should be over 700K and not all sub-prime business.
Banker Status
In-house Products include:FHA,VA,CONV,ALT A, Sub-prime
Aggressive rates
Marketing support
The Net Branch is licensed in the following states:
AL,AK,AZ,AR,CA,CO,CN,FL,GA,HI,IN,KS,KN,MD,MI,MN,MS ,MO,MT,NV,NM,NC,OH,OK,SC,TX,VA,WI,WY
__________________________________________________ ______________________
Opportunity #3
Low Start up costs, low per file fee $500 – flat fee per file no monthly fee.
This program supports 1099 or W2 employee’s classification is dictated by licensing in each state. If you plan to originate FHA loans you must be a W2 employee.
This program has a great technology platform.
Pick your own LOS.
CA,CO,FL,IA,IL,IN,KS,MO,NM,TX,WA
__________________________________________________ ______________________
Opportunity #4
This program is very cost effective.
$295- flat fee per file plus $225- monthly FEE.
This program has a company credit account option subject to
qualification branches can pay expenses with pretax dollars.
AK,CA,CO,CT,FL,MA,ME,MD,MN,NJ,NY, PA,VA,WY
__________________________________________________ ______________________
Opportunity #5
This Opportunity is cost effective and does not require the branch manager to have good credit.
2 options
Month Fee $450- and $300- file
Or
$ 150 monthly fee and $500 per file.
IL,IN,MI,FL
__________________________________________________ ____________________
Opportunity #6
$595 flat fee per file on all brokered loans
This program has a great technology plat form
$75 monthly fee to branch
CONV, FHA,VA
AK,AZ,AL,CA,CO,CT,FL,GA,IA,ID,,IL,IN,MD,MI,MN,MS,N M,NV,OR,
SC,SD,TN,TX,VA,WA,UT
__________________________________________________ ____________________
Opportunity #7
This is a great program for branches that go through production swings,
Fee is $585- per file for the 1st 3 files per month.
Files 4 through 10 the branch closes that month at no fee.
All loans are brokered / No Padded rate pressure here
The lender list is very long.
Payroll is direct deposit every Friday.
CA, FL, VA, MD, GA, CO, MI, MN, MA, NM and CT
__________________________________________________ ____________________
Opportunity #8
Option( 1) Hybrid Monthly fee/fee per file program.
$450 per mo flat fee.
$300 per closed file.
Option (2)
$1548 per month flat fee includes branch E&O insurance.
Branches must Encompass or pay a $40- fee per file for data entry.
Alabama, Colorado, Connecticut,Florida, Georgia, Illinois, Indiana,
Kentucky, Louisiana, Missouri, Mississippi,New Mexico, North Carolina
South Carolina, Texas, Tennessee
__________________________________________________ ____________________
Opportunity #9
Hybrid Monthy fee and fee per file. This is for small offices only 1-15 Loan officers.
Monthly Fee $1000- per file fee $60-
All loans are brokered on this program. No Padded Rates.
AK,CA, CT, FL, GA, KN, IL, IN, MI, TN , OR, WA,
__________________________________________________ ____________________
Opportunity #10
OH,IL,FL,NJ,PN,WI,MI,IN,TN,SC,MO,CO,and NY.
Conventional, FHA, VA
With this program you can earn 85%-90% W2 Wages with a MIN house cut
per file of $350- It is your choice you can either close loans A-C on
the banker side or broker out your entire pipeline.
This program is not for rookies, a branch manager must have a prior
2 year monthly average of more than 2 units per month or $10,000 per
month in gross fee income.
Monthly E&O fee $100-$300 - varies with volume.
__________________________________________________ _____________________
Off Site LO Opportunity #1
*********** license Exempt in the following states ************:
AL,CO, DE, FL ,GA, IA, IL, IN, LA,MI, MS,MN, NC,NV, OH,OR, SC, SD,TX, VA
CONV and FHA loans.
No licensing or REG Requirements.
No Padded Rates / All loans are brokered
Quality control is so strong,lenders really
want to deal with with this Subsidiary
70% commission with no subtraction for
the employers part of the FICA, FUTA, SUTA, and
Workmens COMP. No Charge for credit pulls- subject
to change or limitations. Set up is fast and Cheap.
No Monthly Charges.
Over Night packages to Corporate on their dime.
__________________________________________________ __________________
Off Site LO Opportunity #2
$790 Per File includes Processing as LO's working
from home are not allowed to process their own files.
Please Note: Regardless of what state you are from
15% will be subtracted from gross pay to cover the FICA, FUTA,SUTA
Workmens COMP.
You also will be have a monthly charge of $225-
This program has a company credit account option subject to
qualification branches can pay expenses with pretax dollars.
or
one fee of $1000- per month and $495 per file to cover processing
AK,CA,CO,CT,FL,MA,ME,MD,MN,NJ,NY, PA,VA,WY
__________________________________________________ ____________________
Off Site LO Opportunity #3
$990- per file and 90% Commission before the employers part of the FICA, FUTA, SUTA,Workmens Comp is Subtracted.
$75 monthly fee is due from LO, regardless of production.
The above is all for brokered loans, fees would be lower on the bankered programs./ NO Right of 1st refusal.
The above includes processing as offsite LO's are not allowed to process their own files.
CONV, FHA,VA
AK,AZ,AL,CA,CO,CT,FL,GA,IA,ID,,IL,IN,MD,MI,MN,MS,N M,NV,OR,
SC,SD,TN,TX,VA,WA,UT
__________________________________________________ ___________________
Off Site LO Opportunity #4
OH,IL,FL,NJ,PN,WI,MI,IN,TN,SC,MO,CO,and NY.
Conventional, FHA, VA
With this program you can earn 75%W2 Wages
The house will cover employers part of FICA,FUTA,SUTA,WC,from their cut.
It is your choice you can either close loans A-C on
the banker side or broker out your entire pipeline.
This program is not for rookies, a LO must have a prior
2 year monthly average of more than 2 units per month or $7000 per
month in gross fee income. Copies of w2's or 1099's required
Monthly E&O Fee $50- __________________________________________________ ____________________
Off Site LO Opportunity #5
Hybrid Monthy fee and fee per file. This is for a solo LO.
Monthly Fee $300- per file fee $60-
All loans are brokered on this program. No Padded Rates.
AK,CA, CT, FL, GA, KN, IL, IN, MI, TN , OR, WA,
************************************************** ********************
Some of our Net Branch opportunities allow for work from home while
others do not.
Please call us for details.
Please note while we may recruit for some branch providers that offer
1099 opportunities, we do not endorse 1099 payment plans and special
care should be taken be anyone considering 1099 opportunities.
"Not to be construed as legal advice just my own unverified opinion"
EOE
We recruit for several
Quality Net Branch Providers.
Net Branch Opportunities.
Call Bob 630-724-1470
Email
bob@1003s.com 1003s.com - Net Branch Opportunities
EOE
