Posted on: 11th Nov, 2009 09:23 am
I have heard the term Net Branch which I interpret that anyone can originate a mortgage and submit the paperwork to a Net Branch which processes the loans and takes either a percentage or a fixed fee to process the loan and they originate the loan under their license required by the state.
I paid for what I thought was a program for this but the company does not know how Real Estate agents choose a lender to work with. This company does not offer pre-approval letters;-(((
Have anyone heard of any program like this? Can anyone work with these “Net Branches� I am not eligible for licensing in my state due to lack of experience but my wife is a successful realtor closing one or more sales a week. Some of these are investor closes but some are people who are borrowing to purchase. I would like to be the sales rep but lack the license.
Any help, please. I am open to Net Branch as long I can get pre-approval letter. Also, any other systems such as referrals, flat fee payouts, etc.
I plan to work States of MD, VA, and the territory of the Washington, DC.
Thanks,
Steve Davis
[size=9:c97eeaee1d][color=Red:c97eeaee1d][Email address deleted as per forum rules. Thanks.][/color:c97eeaee1d][/size:c97eeaee1d]
I paid for what I thought was a program for this but the company does not know how Real Estate agents choose a lender to work with. This company does not offer pre-approval letters;-(((
Have anyone heard of any program like this? Can anyone work with these “Net Branches� I am not eligible for licensing in my state due to lack of experience but my wife is a successful realtor closing one or more sales a week. Some of these are investor closes but some are people who are borrowing to purchase. I would like to be the sales rep but lack the license.
Any help, please. I am open to Net Branch as long I can get pre-approval letter. Also, any other systems such as referrals, flat fee payouts, etc.
I plan to work States of MD, VA, and the territory of the Washington, DC.
Thanks,
Steve Davis
[size=9:c97eeaee1d][color=Red:c97eeaee1d][Email address deleted as per forum rules. Thanks.][/color:c97eeaee1d][/size:c97eeaee1d]
>>I am open to Net Branch as long I can get pre-approval letter
Net Branch's don't provide pre-approval letters - Loan Officers provide pre-approval letters. If you join a Netbranch as a Loan Officer, you're going to be originating mortgages independently and will be 100% responsible for the entire loan process, from conception to funding. Your Netbranch may need to review and "approve" your pre-approval letter, but they're not going to write it for you.
Only really experienced Loan Officers join Netbranch's, because they can handle the entire mortgage loan process by themselves, without asking questions - that's why Netbranch's pay more per file.
If you need somebody else to create a pre-approval letter for you ... you're not ready for the Netbranch structure. You need to spend more time with a Mortgage Broker or Mortgage Banker ... where you'll receive the training and experience you'll need to become a Netbranch.
Net Branch's don't provide pre-approval letters - Loan Officers provide pre-approval letters. If you join a Netbranch as a Loan Officer, you're going to be originating mortgages independently and will be 100% responsible for the entire loan process, from conception to funding. Your Netbranch may need to review and "approve" your pre-approval letter, but they're not going to write it for you.
Only really experienced Loan Officers join Netbranch's, because they can handle the entire mortgage loan process by themselves, without asking questions - that's why Netbranch's pay more per file.
If you need somebody else to create a pre-approval letter for you ... you're not ready for the Netbranch structure. You need to spend more time with a Mortgage Broker or Mortgage Banker ... where you'll receive the training and experience you'll need to become a Netbranch.