Archive for the ‘Uncategorized’ Category

Net Branch Mortgage Broker vs. Mortgage Lender – Which is Better?

If you are considering joining a net branch company one of the biggest decisions you face is the lender vs. broker decision. In the past the ability to be both a broker and a lender was a valid option. Today although most companies still promote the available option to be broker or lender – in […]

2 More National Retail Mortgage Companies Close Doors

Ameritime Mortgage and Residential Loan Centers of America It appears that Ameritime Mortgage, based in Houston, TX and Residential Loan Centers of America, Des Plaines, IL have ceased lending. Their websites are down. Ameritime Mortgage funded loans in over 40 states and offered branch opportunities in around 20 states. RLCA operated in 18 states. Although […]

1st Metropolitan Mortgage Closing It’s Doors – We can help!

Another one bits the dust!  No not the song by Queen… Another National Net Branch company is shedding 80% of it’s branch offices. Branch managers were surprised by an email yesterday announcement to it’s large branch network that they are closing effective Tomorrow. Although the branches will have about 30 days to clear out their […]

Loan limits on Fannie Mae, Freddie Mac, and FHA mortgages will be cut if we do not act now.

Loan limits on Fannie Mae, Freddie Mac, and FHA mortgages will be cut if we do not act now. This news is important to all net branch companies. Congress passed two temporary laws (The Economic Stimulus Act ) earlier this year that raised the maximum loan amount eligible to be purchased by Fannie Mae and […]

How does the “meltdown” affect net branching?

As a nation and as an industry we are in uncharted waters. I doubt anyone can accurately predict the outcome. What we can do is make some estimates on how the mortgage meltdown will change our industry in the short term – The next 18 – 36 months. Purchase – Purchase – Purchase – FHA […]