Archive for the ‘Uncategorized’ Category

Loan Officer Compensation – All about the BPS (Part 2)

In part one of this article I outlined the importance of breaking out all revenue and costs into BPS.  Why is it important to view your mortgage branch business this way? Because it give you an additional perspective besides using dollar amounts. Because you pay your loan officers using basis points it makes sense to use the […]

Texas Net Branch News

Texas Net Branch News As Texas moves towards full compliance with new national licensing laws,  Douglas Foster Commissioner of the Texas Department of Savings and Mortgage Lending announces: Transition of Mortgage Broker Entity Licenses and Individual Mortgage Broker and Loan Officer Licenses Ends August 31, 2010 July 9, 2010 The deadline for transitioning current mortgage […]

USDA Rural Housing – Out Of Money.

Your mortgage branch could be done with USDA Rural Housing for the year! According to the estimates by the USDA Rural Development Agency the Single Family Program  will be out of fund by the end of April for 2010. In a memo dated April 9,2010 that was sent to all participating lenders the agency said: […]

Credit Repair and Loan Modification – Good or Bad For Net Branch?

Credit Repair and Loan Modification – Good or Bad For Net Branch Loan Officers? I have noticed that there are several “side businesses” trying to recruit loan officers. By “side businesses” I mean companies that offer services like credit repair or loan modification. My in-box is full of offers and I see recruiting ads everywhere. […]

Why join a national mortgage branch company for FHA?

Why join a national mortgage branch company for FHA? Instead of joining a net branch company to originate FHA loan wouldn’t it be better to get your own company approved by HUD to originate FHA loans? In most cases the answer is no. Let’s look at some of the costs associated with any mortgage company […]