Form a partnership with a bank; Join the 1%

One of the choicest opportunities available for experienced mortgage bankers is forming a partnership with a chartered bank. It is an opportunity available to highly experienced players only but it has some competitive advantages that will leave you wondering why you didn't do it sooner.

We are netbranchology.com, a specialty mortgage recruitment firm. One of the clients for which we recruit is a state-chartered bank. They have asked us to find experienced branch managers who have the necessary respect for the rigors of banking and who would enjoy running their own operation under the oversight of the bank. Make no mistake that operating as a part of a chartered bank gives you a leg up on your competitors. For example, borrowers, despite all of the bad press, still would like to acquire their mortgage through a bank. Your credibility is presumed. No more fighting to explain how you can compete with the larger players.

Next, there's the flexibility to close mortgage transactions in many states without the necessity of ANY state licensing.  When you become a partner with the bank you can close deals in 37 states without any state licensing restrictions. No more tests, application fees, continuing education requirements, cranky clueless bureaucrats or surprise audits far away from home. Nada.  In some other states you will be required to obtain a license for your branch but only the state of Washington requires that each functioning originator possess an individual state lending license. Contact us right now if you would like to learn the requirements of any particular state. Learn the state's requirements here.

You have probably overlooked one of the most important benefits that you will gain as the partner of a chartered bank: Banks like our client, fund loans from their deposits not from their credit lines. This means that you, as a partner, can avoid  a variety of expenses related to funding through credit lines. Think of the difference in your own life when you pay cash versus using your credit card; less expenses, less interest, less paperwork, less surprises... We have heard horror stories from some job candidates who explained that their firm was put out of business overnight when their credit lines were frozen or revoked. You don't need that kind of trouble. I want to form a partnership.

Forming an origination partnership with a bank does require that you deposit several months operating funds into a reserve account. We can help you negotiate that.

If you are an experienced mortgage banker who is running her own branch, operating your own firm or ready to move yourself and your team to a more production oriented-environment contact us today and we'll fill you in on the details.  Click here to join the 1%.

 netbranchology.com

...specialty recruiters for the mortgage and banking industries

netbranchology.com is a specialty mortgage recruiting firm that works with banks and mortgage firms across the country. Job candidates NEVER pay a fee for our services; Our fees are paid for you by our corporate clients.

Our services are not available in the state of NY.

Naples   Minneapolis  New Haven  Fort Lauderdale  Charlotte   Washington DC   Roanoke

Creative ways to meet HUD's new FHA net worth requirement

In the Spring of 2010 HUD issued its new rule relating to the net worth that FHA lenders must maintain to qualify for licensing. There are interim requirements but as of April 20, 2013 FHA lenders must demonstrate a net worth of $1 Million plus 1% of the total loan volume in excess of $25 million annually. 

For a free copy of the entire HUD regulation request it here.

 FHA loans are an important product in the market. What happens if you are a small firm that will not be able to meet the net worth requirement in the Spring of 2013?  This question may have you concerned about the next move for you and your firm. Over the past year, we at netbranchology.com have been working with various firms to help them explore their options. If you are the owner of a small firm that can't muster the net worth you should consider this option.

 Consolidate your operations with a larger firm

Most owners are entrepreneurs who have built their firms themselves and have always controlled the company. They cringe at the suggestion of turning over control to someone else. When structured properly you will find that consolidating your firm with another firm can be a very good move. You, as the owner, can retain a great degree of control, continue to operate with expanded products and put the cash, previously pledged for your licenses, in your personal bank account. You can still play the game but under the wing of a more financially stable group. After the initial adjustment period owners sometimes discover that the new arrangement gives them less to worry about and more time to expand their operation. In a typical consolidation scenario no stock is exchanged and owners do not receive any upfront payments. There are many variations of how consolidations can be structured. The usual choices are: merger, buyout, absorption, acquisition, alignment, subsidiary creation  and joint venture. Details of the strategy that's right for your firm can be customized. The important factor is that both parties have an attractive potential benefit and that the risk is understood. Contact Kevin Miller if you are the owner of a firm that is anticipating problems meeting the increased net-worth requirement. 

netbranchology.com is a specialty recruiting firm that works with banks and mortgage firms across the country. Job candidates NEVER pay a fee for our services; Our fees are paid for you by our corporate clients.

Naples              Minneapolis          Fort Lauderdale     New Haven      Washington DC           Charlotte

Don't wait 2 weeks to get paid

In the mortgage world, technology has enabled the industry to increase the speed at which transactions can be closed. Many aspects of the mortgage banking process are automated.  Everyone seems to reap the benefit of this faster-paced cycle, except the person most responsible for making the deal happen: you, the originator.  If it takes less time to get all these things done shouldn't the person who originated and closed the deal get paid sooner also? You certainly would think so. Most firms however don't see it that way and are still using the out-of-date twice a month pay cycle to compensate their mortgage originators. It strikes us as odd that the very people who play the largest role in finding and closing these transactions can't get paid any sooner than twice a month. Some job candidates tell us that their bank, or firm, won't even release their earnings until, and unless, the loan that they've worked so hard to close, is bought off of the firm's credit line. This can take months. We don't think that originators should have to wait that long or have their compensation hinge on secondary market issues.  Fortunately, if your current firm makes you wait for months to get paid, we have a solution for you; Make them your former employer.  

At netbranchology.com, one of our corporate clients for which we recruit, pays out fees within 48 hours of closing.  This firm uses a computerized accounting system that is able to release funds and send them out for auto-deposit to your bank account within 48 hours of the deal closing. It works like this; You close your deal; then upload the closing docs to your audit department. Within 24 hours the file is audited. Providing the file is not flagged for any significant compliance issues, the fees you have earned on the transaction are auto-deposited to your personal bank account. If you are a branch manager then your share of the profits is credited to your in-house branch account for you to use for paying bills or paying yourself. Nobody has to wait weeks or months for any deal to be bought off of the credit line. Nobody has to wait for a check to clear. Your check never gets lost in the mail... and no double-talk or shell-game about how much you are going to receive.  Doesn't this make sense? Doesn't this sound like the policy of a firm that wants to keep its producers motivated and happy? Many banks and firms talk about the support they offer to their producers and their commitment to helping them succeed but still hold your money hostage until they decide to release it. Isn't it time that they treated you fairly? After all, you brought the deal in in the first place.Contact me, Eddie Daniels, if you don't want to wait 2 weeks to get paid. Eddie@netbranchology.com

netbranchology.com is a specialty mortgage recruiting firm that works with banks and mortgage firms across the country. Job candidates NEVER pay a fee for our services; Our fees are paid for you by our corporate clients.


Naples           Minneapolis           Fort Lauderdale          Washington DC          New Haven          Charlotte 

Our services are not available in the state of New York

Why you should use our recruiting firm to find your next mortgage job.

With the recent changes in the mortgage industry and the emphasis on social media marketing it's old news that mortgage bankers, loan officers, originators and branch managers are struggling to keep up with their workload. At some point though, they realize that working at their current firm just isn't offering them adequate rewards for all of the time and effort they are putting into their work. Perhaps their firm has been re-organized for the worse; Many times, upper management, contending with other organizational problems, just doesn't seem to appreciate the sacrifices that producers make to keep their pipelines rolling.  This is a crucial and demoralizing mistake. In other words, you may be dedicated to your firm but they aren't dedicated to you. Changing positions however brings on even more challenges; Challenges that using an independent recruiting firm like netbranchology.com  can solve. 

After deciding that you need to change the direction of your career and move to another firm you can be paralyzed by what you don't know about your options. A productive producer rarely has the time to do research on the various banks and firms offering employment. Important factors such as friendly working conditions,  interest rates, loan programs, technology, branch partnerships vs. conventional employment arrangements, health plans, bonuses, rarely get more than a brief discussion. Even if you could thoroughly research your employment options you would discover a hidden but obvious impediment that could cost you thousands of dollars and anxiety. That impediment is this; Many potential employers won't really deliver what they promise you. This can be a very painful and expensive lesson to re-learn. The large banks are notorious for painting an optimistic but usually less than accurate picture of what you will find when you join their team. The most valuable benefit of using netbranchology.com to help you find a new position is that we have done the homework for you. Typically we have an in-depth knowledge of the various mortgage firms and banks with whom we work as well as the other opportunities that are available. Some firms are large and some firms are small. Since our goal is to place you into a position that will enable you to achieve your goals and enjoy a pleasant and cooperative working environment, we tell you the good points and the not-so-good points of the firms that we recommend. We do this because we believe in the firms with whom we work; Otherwise we wouldn't be working with them. Our job candidates frequently remark that without our help they never would have been able to find a position with the features like the one we helped them find. 

Another benefit that you'll get when you work with netbranchology.com is the opportunity to choose from several employment options. Although mortgage firms and banks all share the same objective of closing mortgage transactions, there are drastic differences between the methods they use to accomplish this goal. We help you understand these differences and avoid conflicts. Interviewing with one company is like trying to force your foot into a shoe that doesn't fit. Make no mistake that in-house recruiters for many of the large firms are paid to force your foot into the one-sized shoe they are selling. Which brings me to a very important benefit for you: the cost of our service. At netbranchology.com job candidates NEVER pay a fee for our services; Our fees are paid for you by our corporate clients. Contact Us today.

 

netbranchology.com is a specialty mortgage recruiting firm that works with banks and mortgage firms across the country. Job candidates NEVER pay a fee for our service. All fees are paid for you by our corporate clients. 

Naples      Minneapolis      Fort Lauderdale      Washington, DC      New Haven       Raleigh

Are you working for peanuts?

We have heard complaints from many experienced mortgage bankers that their employers  have drastically cut back on the compensation they are receiving for their production.  Frequently, these firms use the excuse that the Dodd-Frank Act somehow requires that loan officers be paid less. The large banks, particularly, have parlayed this ruse into millions of dollars of more bonuses for upper management.  When asked for an explanation of why loan officers should be required to do more work, comply with more regulations, assume more liability and attend more continuing education classes for less money, their managers offer the disingenuous explanation that " it's just part of the new order in the mortgage industry"...  "Oh yes, by the way,  you're limited to working 40 hours per week"... What they are really doing is pulling an old trick: Using their bargaining power and your fear of change to pay less money for more work.  Sophisticated players who should know better are acquiescing because they think they have no alternative. At netbranchology.com we work with an assortment of banks and mortgage companies that offer you several alternatives. We help our client firms locate experienced mortgage bankers who would like to settle back into a compensation arrangement that rewards them handsomely for their effort and offers them an entrepreneurial environment in which they can thrive. Earning more compensation for the transactions you close is just part of the solution. Overall, the producers who work at these firms are much happier in their employment because they find they have re-discovered the reason they entered the mortgage business in the first place.  If you want to keep working for peanuts then join the circus... Otherwise contact Kevin Miller today; kevin@netbranchology.com  Visit our website  netbranchology.com

netbranchology.com... specialty recruiters for the mortgage and banking industries  

   Naples          Minneapolis       Raleigh         Washington DC         Fort Lauderdale            New Haven

                                          Services not available in the State of New York