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ddelavari
2 Posts |
 Posted - 08/30/2007 : 6:47:10 PM
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| Does any one have any good things to say about this company? or bad things? Please let me know? I am right about to send them check to get signed up as a net branch? |
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rescaplender
640 Posts |
Posted - 08/30/2007 : 6:52:35 PM
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| jesus lord don't do it!!! check the threads on them on here.... I had a branch before and it sucked. There are much better branching companies.... |
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vegasray
2054 Posts |
Posted - 08/30/2007 : 7:05:57 PM
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At this point in time, Do not believe any netbranch company that states they have a federal charter and a warehouse line so they can fund in all 50 states.
Total BS
A Federal Charter does allow you to be license exempt in all 50 states, but what good does that do if you their warehouse line got closed? |
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1003s.com
3425 Posts |
Posted - 08/30/2007 : 7:35:49 PM
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David,
Welcome to the outpost!
I think you made a good move posting your question here before sending
them a check. As Rogan, pointed out there are are other threads on
the company you mentioned, so by all means do a site search.
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Dana Point
2820 Posts |
Posted - 08/30/2007 : 8:01:53 PM
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| Run |
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isellmoney
65 Posts |
Posted - 08/30/2007 : 8:45:23 PM
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| we recently tried to make that work, tried? |
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Interestonly
76 Posts |
Posted - 08/30/2007 : 9:15:20 PM
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I was with them for 3 months earlier in the year and they are nothing but a bunch of rich kids that developed a way of networking licenses accross the county. It is completely unorganized because if the licensee has a license in CA, it does not really mean that they are signed up with the same lenders as they are with the licensee in Oregon or any other states for that matter. It gets VERY confusing. Beware also that they tell you that you can operate in your own name yet they don't file for the DBA. When they go to file the DBA unless you pay an additionaL $2,000 a month they will not do it and kick you out of the network. Of course the upfront $4,000 are not refundable. Net Branches that have allowed their Branches to operate unther your own name are no longer around.
I would not want to be there when that happens.
Bob knows his stuff and he can tell you further about my experience and how he warned me. I would have a chat with him and hr will show you how to ask the right questions. Plus he represents some of the real ones outthere. |
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isanfir
39 Posts |
Posted - 08/30/2007 : 11:22:06 PM
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| do not work with PBC -- try homefront mortgage in tustin, ca -- they charge 399 per month and they have every bank possible |
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1003s.com
3425 Posts |
Posted - 08/31/2007 : 09:01:50 AM
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quote:
Originally posted by Interestonly
I was with them for 3 months earlier in the year and they are nothing but a bunch of rich kids that developed a way of networking licenses accross the county. It is completely unorganized because if the licensee has a license in CA, it does not really mean that they are signed up with the same lenders as they are with the licensee in Oregon or any other states for that matter. It gets VERY confusing. Beware also that they tell you that you can operate in your own name yet they don't file for the DBA. When they go to file the DBA unless you pay an additionaL $2,000 a month they will not do it and kick you out of the network. Of course the upfront $4,000 are not refundable. Net Branches that have allowed their Branches to operate unther your own name are no longer around.
I would not want to be there when that happens.
Bob knows his stuff and he can tell you further about my experience and how he warned me. I would have a chat with him and hr will show you how to ask the right questions. Plus he represents some of the real ones outthere.
Michael,
Thanks for the plug, it has been a while, hope you are doing well.
And, your comments of a factual nature, should really be of great
utility to anyone considering writing a large check to those folks.
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bhaggard10
192 Posts |
Posted - 08/31/2007 : 09:15:56 AM
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| Check out Ascent home Loans. WE are licensed in 40 states pay out 100% on correspondent deals and 80% on brokered out deals. We do all of your compliance, pay out weekly, and are FHA approved. Give me a call so I can show you everything online. 303-565-2647 |
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velecico
4204 Posts |
Posted - 08/31/2007 : 9:53:00 PM
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Why would you send upfront money to a net ? if you got the numbers they should be paying you |
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1003s.com
3425 Posts |
Posted - 09/01/2007 : 8:30:56 PM
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Nick, most of the flat monthly fee deals, have the BM pay the 1st
month up front and some want set up fees and reserves also. |
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ahunsick
49 Posts |
Posted - 09/06/2007 : 12:03:45 PM
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| I agree with velecico, if you have the numbers then you shouldn't have to pay anything upfront. |
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LOANSMARTZ
35 Posts |
Posted - 09/06/2007 : 5:21:49 PM
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Try 1st Metropolitan Mortgage.
They are great!
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aloscig
109 Posts |
Posted - 09/06/2007 : 7:28:45 PM
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| HCI Mortgage offers a competitive net branch division. We are a mortgage banker licensed in 30 states and have our HUD approval. Of course, we follow rules and regulations set forth by HUD. We don't offer a set up fee either, the only fees that you will need to be concerned with from the start is the cost to license your location or any loan officer licenses. if interested in learning more about our program before you make a decision, call me at 570-647-7422 or email me at aloscig@hcimortgage.com. |
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1003s.com
3425 Posts |
Posted - 09/06/2007 : 8:38:41 PM
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quote:
Originally posted by rescaplender
jesus lord don't do it!!! check the threads on them on here.... I had a branch before and it sucked. There are much better branching companies....
Rogan,
Well Said... |
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Randy@TEN
44 Posts |
Posted - 09/11/2007 : 3:27:17 PM
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I am the National Sales Manager for www.TheEquityNetwork.com and hire only for them. I am confidant we have one the best opportunies in the mortgage industry for Team Managers and Independent loan originators.
See our platforms for more info. Any interested parties can call my personal line at 616.308.5065
I will provide a complete tutorial of our revolutionary platforms.
rwilliams@theequitynetwork.com |
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xavierramirez
78 Posts |
Posted - 09/11/2007 : 4:20:41 PM
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quote:
Originally posted by ddelavari
Does any one have any good things to say about this company? or bad things? Please let me know? I am right about to send them check to get signed up as a net branch?
NEVER HEARD OF THEM |
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lucky1s
3637 Posts |
Posted - 09/11/2007 : 4:23:58 PM
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| Isnt their a class action lawsuit thread here about them? |
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1003s.com
3425 Posts |
Posted - 09/19/2007 : 2:10:33 PM
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| lucky, there was a thread labeled somthing like that, as I recall... |
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1003s.com
3425 Posts |
Posted - 09/24/2007 : 8:24:26 PM
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| There is an old saying, about a fool and his money... |
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philinpdx
638 Posts |
Posted - 09/28/2007 : 6:56:49 PM
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Does anyone heard or know anything about Sterling Home Mortgage? Anyone have any actual experience with them? I had a phone call with a recruiter and had a brief online presentation of their tools & systems that they use and they seem pretty together.
From I've found out about them thus far is kind of interesting. One of the things about their business model that perhaps makes them more secure is that they're COMPLETELY set up as a broker with all their lenders. Thus, they don't have the overhead of a warehouse line, inhouse UW, and all the expense / potential risks that come with Correspondent lending. Because of that their monthly fee is really cheap. |
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ChiHlava
854 Posts |
Posted - 10/01/2007 : 06:17:55 AM
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quote:
Originally posted by socalusa
quote:
Originally posted by philinpdx
Does anyone heard or know anything about Sterling Home Mortgage? Anyone have any actual experience with them? I had a phone call with a recruiter and had a brief online presentation of their tools & systems that they use and they seem pretty together.
From I've found out about them thus far is kind of interesting. One of the things about their business model that perhaps makes them more secure is that they're COMPLETELY set up as a broker with all their lenders. Thus, they don't have the overhead of a warehouse line, inhouse UW, and all the expense / potential risks that come with Correspondent lending. Because of that their monthly fee is really cheap.
I've talked to their Regional VP, Ms Campbell myself before.
Their flat fee $395.00 per month regardless of how many loans you originate, plus their virtual processing capability, attract me a lot.
I think I'm going to apply for a job with them. One thing bothers me though, I've made two calls to Ms Campbell n the past two days, and have not rceived a call back. Sort of like a let down.
socalusa@hotmail.com
Website for this outfit?
There is a Sterling Home Mortgage in Illinois but it is a small shop that opened during the boom and I thought it had closed. What states does the sterling you reference have? |
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1003s.com
3425 Posts |
Posted - 10/01/2007 : 2:40:30 PM
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quote:
Originally posted by ddelavari
Does any one have any good things to say about this company? or bad things? Please let me know? I am right about to send them check to get signed up as a net branch?
No follow up, from original poster? |
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socalusa
268 Posts |
Posted - 10/01/2007 : 8:48:26 PM
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quote:
Originally posted by ChiHlava
quote:
Originally posted by socalusa
quote:
Originally posted by philinpdx
Does anyone heard or know anything about Sterling Home Mortgage? Anyone have any actual experience with them? I had a phone call with a recruiter and had a brief online presentation of their tools & systems that they use and they seem pretty together.
From I've found out about them thus far is kind of interesting. One of the things about their business model that perhaps makes them more secure is that they're COMPLETELY set up as a broker with all their lenders. Thus, they don't have the overhead of a warehouse line, inhouse UW, and all the expense / potential risks that come with Correspondent lending. Because of that their monthly fee is really cheap.
I've talked to their Regional VP, Ms Campbell myself before.
Their flat fee $395.00 per month regardless of how many loans you originate, plus their virtual processing capability, attract me a lot.
I think I'm going to apply for a job with them. One thing bothers me though, I've made two calls to Ms Campbell n the past two days, and have not rceived a call back. Sort of like a let down.
socalusa@hotmail.com
Website for this outfit?
There is a Sterling Home Mortgage in Illinois but it is a small shop that opened during the boom and I thought it had closed. What states does the sterling you reference have?
I'm signing up with them tomorrow. My contact person is:
Mary Duncan
Division Manager
Sterling Home Mortgage, LLC
Office: 1-888-734-7771 ext 15
Direct: 541-505-7082
Cell: 602-423-2510
maryduncan@shmaz.com
www.successful-loan-officers.com
They will have FHA by the end of this month, as well. |
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1003s.com
3425 Posts |
Posted - 10/01/2007 : 9:09:33 PM
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Socal,
good luck |
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socalusa
268 Posts |
Posted - 10/01/2007 : 9:13:37 PM
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quote:
Originally posted by 1003s.com
Socal,
good luck
Thanks |
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1003s.com
3425 Posts |
Posted - 10/11/2007 : 1:24:18 PM
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quote:
Originally posted by socalusa
quote:
Originally posted by 1003s.com
Socal,
good luck
Thanks
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AzHomes
7 Posts |
Posted - 10/17/2007 : 12:17:03 AM
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I am with Sterling Home Mortgage and have to say I love it. $399 a month for unlimited files. I am also a Realtor and the company has no problem with that.
Email me for a new hire package.
www.e-ArizonaMortgage.com
www.AzSpotlightHomes.com |
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directconnect
7 Posts |
Posted - 10/24/2007 : 5:44:48 PM
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| Whatever they tell you get it in writing. I have not heard anything good about this company. |
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cpruitt
1734 Posts |
Posted - 10/24/2007 : 7:34:18 PM
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quote:
Originally posted by directconnect
Whatever they tell you get it in writing. I have not heard anything good about this company.
Which company? |
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JasonAaron1
1112 Posts |
Posted - 12/09/2007 : 01:50:34 AM
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| How is it going with Sterling? |
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From Flyover Cou
58 Posts |
Posted - 12/09/2007 : 03:47:49 AM
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One of my brokers signed up as they are in Kansas City right on the stateline.
Right after the broker signed up, he discovered they did not renew the KS license where 60% of his business was coming from.
Do you think the broker got his money back?
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monyspeaks
1 Posts |
Posted - 12/09/2007 : 05:14:19 AM
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| DON'T DO IT THERE ARE BETTER COMPANIES!!!!!! |
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mcpeaky
28 Posts |
Posted - 01/14/2008 : 7:44:32 PM
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It blows me away to even hear someone talking about Net Branches now . . I was an ALLFUND child in the late 90's, learned my lesson the hard way.
Get your own license or take the time to work for a local broker who knows the biz. Thats all. |
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1003s.com
3425 Posts |
Posted - 01/15/2008 : 08:23:34 AM
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quote:
Originally posted by mcpeaky
It blows me away to even hear someone talking about Net Branches now . . I was an ALLFUND child in the late 90's, learned my lesson the hard way.
Get your own license or take the time to work for a local broker who knows the biz. Thats all.
Richard, many broker shops have shut down this past year, and more are shutting
down every day. This often leaves a broker and many LO's with out a home. While
some are leaving the business others are going with branch companies.
A branch might not have been the best thing for you, it could however,
be a good option for some other folks, no one option is best for everyone.
I help some companies hire VLO's also and for some folks with limited volume,
who want to work from home that is a good option also,
as the pay out is ussually much stronger than
they would get, from the broker down the street,
who also lacks a good size lender
list, FHA and the ability to not disclose YSP. |
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