***Branching Central***

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HonestyEqualsBus

33 Posts

Posted - 10/22/2007 : 7:11:34 PM

Are you in search of the right Mortgage Branching solution to fit your needs?
Let us help, with over 30 years combined mortgage industry experience and a vast financial acumen, we can find the right solution for you. If you are looking to originate in multiple states, need FHA/VA capabilities or are interested in being a mortgage banker and not just a broker, please email me and I will contact you to help with your needs.

Sam Saleh
Branching Central
Branch Consultant
Direct Line: 727-280-0584
Email: bsaleh@branchingcentral.com

HonestyEqualsBus

33 Posts

Posted - 10/23/2007 : 07:18:40 AM

Hey Thomas,

I appreciate the comment and support. Have a great day!

velecico

3262 Posts

Posted - 10/27/2007 : 9:11:02 PM

If you only charge a flat fee , and say hired 2-3 branches that became HUGE , how would the back of the house support HR , accounting , tech support , legal ? all on that flat fee , you could have 2-3 branches doing 100 loans per month getting the same attention as one that does 2 million ?

HonestyEqualsBus

33 Posts

Posted - 10/28/2007 : 5:44:17 PM

Nick,

That is what our system is built on at Magellan. We are based on technology which really helps out all the branches. We also have account executives that are committed to helping each branch and are assigned to each branch as well. That's why the same amount of support can be supplied to each branch no matter the amount of loans without effecting service. I came from the former #1 net branch company in the US to Magellan and I love it and have never looked back. Also, since we are only opening up a few top branches in each state, that definitely gives our executives more time to focus on each branch. Call me for more information or email me and I will answer any questions you may have or address any concerns. Hope to talk to you soon.

Sam Saleh
Magellan Mortgage Group
Account Executive/Branch Consultant
bsaleh@magellanbranching.com
727-280-0584

NYNY

6 Posts

Posted - 11/09/2007 : 08:44:04 AM

Hey Sam:
Are you licensed in NY and could you provid me with more info.
if you could email it that would be great alago@lorenzomortgage.com

Thanks,

Alex

HonestyEqualsBus

33 Posts

Posted - 11/09/2007 : 09:31:21 AM

Hey Alex,

Thanks for your interest. I have sent you an email answering your question. Thanks and have a great weekend!

mchinadoll

140 Posts

Posted - 12/13/2007 : 06:10:30 AM

Sam, will you please send me some information at mswiseone1@aol.com.

I am Licensed in Florida. Thanks.

HonestyEqualsBus

33 Posts

Posted - 12/13/2007 : 06:38:15 AM

Hey M.J.,

I have sent you an email. Thanks for taking some time to view my post. I think you would be very happy with what Magellan has to offer.

tdeweever

162 Posts

Posted - 01/03/2008 : 11:31:11 AM

The ONLY way this could work is if all the rates are seriously padded.

HonestyEqualsBus

33 Posts

Posted - 01/04/2008 : 05:52:53 AM

You are absolutely wrong tdeweever. All of our rates are very competitive. The market is shifting and pretty soon all companies that charge branch or per file fees will be illegal. We make all of our money on the secondary market so before you attempt to disregard my company please do your research. I'm guessing you are currently a broker and do not really understand the concept of being a banker. This does not take anything away from all the great brokers out there that already know this. Please feel free to give me a call to discuss the opportunity or go ahead and email me some scenarios and I will get some pricing back to you. Thanks for viewing my post and good luck with your business.

kwimberl

126 Posts

Posted - 01/10/2008 : 10:01:18 AM

Looks like padding of about 50 bps on correspondent rates to me...

HonestyEqualsBus

33 Posts

Posted - 01/11/2008 : 06:14:48 AM

Hello Mr. Wimberly,

I am not sure where you are getting your information from, but this is not the case in regards to the padding. We have had a discussion in the past and I have told you to email me a loan scenario so I may price it for you, but you have not done so. I would greatly appreciate it if you could not post a message without confirming if it is true or not. I will be more than happy to get you some pricing so you may compare apple to apple. Thanks for expressing your concerns and I hope to hear from you soon.

kwimberl

126 Posts

Posted - 02/20/2008 : 06:24:02 AM

Sorry I took so long to reply -- didn't come back and look in here until today.

I did check the source -- I got access to the pricing engine direct from your corporate office. There was padding of about 50bps on the correspondent rates. You may not be aware of it because it is happening upstream from you, but it is there...

HonestyEqualsBus

33 Posts

Posted - 02/22/2008 : 05:36:47 AM

Knox,

I am not aware up the padding, but I am sure you will find padding anywhere you go. The questions you need to ask is, ok, what am I getting for whatever the padding may be? This is where our back office portal and technology definitely plays a role. I'd love to give you a tour of our back office if you have any interest in Magellan. Thanks and have a productive day!

kwimberl

126 Posts

Posted - 02/22/2008 : 05:52:24 AM

25bps on correspondent rates I can handle (will still be competitive with broker rates), but 50 bps is too much for me.

I do think it's probably a solid opportunity for the shop that does not have to have the best rates around...

michaelcibulka

1 Posts

Posted - 05/24/2008 : 5:47:57 PM

Well as of today, Wells Fargo Magellan was at .875 and Wells Fargo Broker was 1.642, for the exact same situation. Hmmm!! I am in the Mortgage Business and not that good at math(LOL), but that is a Differance of .767. So I would say that MAGELLAN IS SERIOUSLY PADDING THE RATES. Now on alittle $100,000 Loan that may not be much. But on a $250,000 hmmm!! THAT'S $1900.00 GOING TO MAGELLAN AND NOT THE LOAN OFFICER, WHO DID ALL THE WORK.

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