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%.
...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.
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