Archive for April 2008

Important questions to ask when looking for a net branch company (part 1)

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 […]

Another Net Branch Company Shuts It’s Door – Global Mortgage Inc.

I just read the news that another national net branch company – Global Mortgage Inc. located in Clearwater Florida – has declared CH-7 bankruptcy. Global like many others in the net branch segment of the industry was plagued with investor buy backs and operations problems that were caused in part to poor management and also […]

Originate in other states – part 2

In the first post on this topic I mentioned that some net branch companies are promoting a system where you can get around the “other” states licensing requirements to originate and still get paid. I learned about this from a prospective branch manager when I asked if she was considering other companies. I asked what […]

I want to originate in all states! – Are you sure about that?

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 […]

Why Virtual Mortgage Net Branch?

A virtual net branch – web based loan origination system. Is using a web based loan origination system really better that a PC based system like Byte or Point? A personal note.. I have been a Point user since the early 90’s and have spent hundreds of hours learning how to make it sit up […]