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dreamjob
145 Posts |
 Posted - 04/27/2008 : 11:16:39 PM
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Can ANYONE recommend a GOOD net branch? I'm sick of looking them up and then finding out about all their "issues"!!!
I would like referrals please....word of mouth is BEST!
Thank YOU!
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FLProcessor
303 Posts |
Posted - 04/28/2008 : 01:47:14 AM
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First we need to know what you're looking for. The big companies (First Metro, Carteret, etc) are quite different the small companies -- both in price, structure, and what you'll be allowed to do. As are Fed Charters vs. Locally licensed options.
Also, spend a few minutes here searching for tons of word-of-mouht.
There have been literally hunreds of threads within the past year. A recent/popular thread is here:
http://forum.brokeroutpost.com/loans/forum/2/202361.htm
However, that focuses mostly on the structure/licensing. Once you specificy which attributes specifically you're seeking, we can return and give you more on those... |
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syndicator
88 Posts |
Posted - 04/28/2008 : 01:59:42 AM
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How is a net branch set-up?
What is the pros and cons of net branches.
Are they similar to a franchise |
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1003s.com
2904 Posts |
Posted - 04/28/2008 : 02:35:18 AM
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Yvonne,
I can put you in contact with a number of Midwest branches I recruited
for Opportunity #1. 100% of all branches, I recruited for opportuniity
#1, in Northern IL, are still doing business with opportunity #1.
Opportunity #1
No Set Up Fee, $500 – flat fee per file no monthly fee.
Raw banker pricing, no padding from 5 well known lenders,
Taylor, Bean & Whitaker
Flagstar
DK Funding
West America
SunTrust
for CONV,and FHA loans.
They are also set up to broker loans to provident. As well as many other lenders
This program supports 1099 or W2 employee’s classification is dictated by licensing in each state. If you plan to originate FHA loans you must be a W2 employee.
Many of the branches with this company close loans under their own DBA so they are
are able to build their own brand name, while at the same time having the ability
to close FHA loans and have access to a large lender list and in some cases take
advantage of a preferred price.
This program has a great technology platform.
Pick your own LOS.
AR,CA,,FL,IA,IL,IN,KS,MI,MO,NM,TN,TX,WA,WI
States where 1099 is an option = FL,WA,KS,MO,IA,TX
Branches can use a registered DBA with this program in all states except IL.
A branch that is W2 can still use a registered DBA for marketing.
This is a great feature, for brokers that are considering converting to
a net branch type opportunity for the purpose of doing FHA loans,
as it allows them, to retain the name, they spent
time, effort, and money establishing.
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nedzie
69 Posts |
Posted - 04/28/2008 : 07:01:51 AM
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| I'm one of the branches that Bob from 1003s.com recruited. Listen to what he has to say, he has great info and points out the good and bad with each Net Branch opportunity. I am thrilled with the company he set us up with. |
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dreamjob
145 Posts |
Posted - 04/28/2008 : 08:34:28 AM
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Bob:
Is this someone new that you are working with since the last time we spoke?
Yvonne
quote:
Originally posted by 1003s.com
Yvonne,
I can put you in contact with a number of Midwest branches I recruited
for Opportunity #1. 100% of all branches I recruited for opportuniity
#1, in Northern IL, are still doing business with opportunity #1.
Opportunity #1
No Set Up Fee, $500 – flat fee per file no monthly fee.
Raw banker pricing, no padding from 5 well known lenders,
Taylor, Bean & Whitaker
Flagstar
DK Funding
West America
SunTrust
for CONV,and FHA loans.
They are also set up to broker loans to provident. As well as many other lenders
This program supports 1099 or W2 employee’s classification is dictated by licensing in each state. If you plan to originate FHA loans you must be a W2 employee.
Many of the branches with this company close loans under their own DBA so they are
are able to build their own brand name, while at the same time having the ability
to close FHA loans and have access to a large lender list and in some cases take
advantage of a preferred price.
This program has a great technology platform.
Pick your own LOS.
AR,CA,,FL,IA,IL,IN,KS,MI,MO,NM,TN,TX,WA,WI
States where 1099 is an option = FL,WA,KS,MO,IA,TX
Branches can use a registered DBA with this program in all states except IL.
A branch that is W2 can still use a registered DBA for marketing.
This is a great feature, for brokers that are considering converting to
a net branch type opportunity for the purpose of doing FHA loans,
as it allows them, to retain the name, they spent
time, effort, and money establishing.
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1003s.com
2904 Posts |
Posted - 04/28/2008 : 09:23:12 AM
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quote:
Originally posted by nedzie
I'm one of the branches that Bob from 1003s.com recruited. Listen to what he has to say, he has great info and points out the good and bad with each Net Branch opportunity. I am thrilled with the company he set us up with.
Todd,
I was very happy to be able to help you, and thanks for your support. |
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1003s.com
2904 Posts |
Posted - 04/28/2008 : 09:35:00 AM
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Yvonne,
yes, they were part of my recruiting program, the last time
we spoke, however, please feel free to give me a call again,
if you would like to take a closer look at this option.
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jault
23 Posts |
Posted - 04/29/2008 : 4:30:05 PM
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How do I get in touch with Opportunity #1 regarding branching?
Thanks! |
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1003s.com
2904 Posts |
Posted - 04/29/2008 : 4:38:50 PM
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quote:
Originally posted by jault
How do I get in touch with Opportunity #1 regarding branching?
Thanks!
Jeff,
feel free to give me a call, I recruit for opportunity #1 |
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mganovsky
1412 Posts |
Posted - 04/30/2008 : 08:32:04 AM
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Apex Lending Inc. A 100% pay out net Branch Company, currently licensed in 32 States.
I am a Net Branch Manager with Apex, over the last 4 years I have never had any problems or issues.
At one time during the “hey day” we were signed up with over 400 lenders, now we are down to about 200 lenders to choose from.
Correspondent lender with Flagstar Bank, AE has weekly training for Flagstar’s website.
You get 100% of front and back minus a $495 admin fee to Apex. (I pass it on to the client); no monthly minimums.
Depending upon your State Law you can be either paid 1099 or W2; if you do FHA then you must be a W2 employee.
Rates are not padded; you go straight to the lender of your choices web site and upload the 1003 and register then lock the loan.
Superb rate and lender “finder” with Loan Rates Everywhere software. Just upload 1003 click on search and all lenders that will do the deal pop up with their rates and fee’s including pricing.
You can process your own loans, use the Corp processing or use a contract processor of your choice. FHA loans must be processed by Corp.
You can work out of your home or an office. If a Net Brach Manager you must have commercial space.
Superb Support, weekly training is offered via “GO TO MEETING” web site.
Go to my web site, click on employment, then on PAL and watch the short video.
If you have any questions, or need help, or would like an agreement sent to you please contact me at my company web site. mganovsky@apexlending.com
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Carpet Muncher
1328 Posts |
Posted - 04/30/2008 : 08:39:13 AM
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quote:
Originally posted by dreamjob
Can ANYONE recommend a GOOD net branch? I'm sick of looking them up and then finding out about all their "issues"!!!
I would like referrals please....word of mouth is BEST!
Thank YOU!
Go with whatever Bob (1003s.com) recommends. He is the go to guy on this site for net branches. |
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1003s.com
2904 Posts |
Posted - 04/30/2008 : 11:46:33 AM
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quote:
Originally posted by Carpet Muncher
quote:
Originally posted by dreamjob
Can ANYONE recommend a GOOD net branch? I'm sick of looking them up and then finding out about all their "issues"!!!
I would like referrals please....word of mouth is BEST!
Thank YOU!
Go with whatever Bob (1003s.com) recommends. He is the go to guy on this site for net branches.
Dan,
thankyou, for your support! |
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greenpointtexas
14 Posts |
Posted - 04/30/2008 : 12:59:22 PM
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Anyone know anything about Realty Mortgage Corp as far as net branches?
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1003s.com
2904 Posts |
Posted - 04/30/2008 : 4:44:42 PM
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quote:
Originally posted by syndicator
How is a net branch set-up?
What is the pros and cons of net branches.
Are they similar to a franchise
Ravi,
each branch company, is set up its own unique way. In IL it costs about
6-10K a year for license, audits, E&O and bonding to be a broker with no FHA.
A branch license in IL runs $350- and than you need to deal with per file fees or per month
fees. Does a broker shop or a branch make more sense for you?
It really depends on your volume, your need for FHA, ETC.
Most of the branch companies banker loans also.
Is bankering of use to you?
some people just want to banker others just want to broker,
others do both.
Some people like being part of a company with a compliance department,
to deal with state auditors ETC, and others don't mind keeping up with
all that type of thing them selves. |
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mgd
99 Posts |
Posted - 04/30/2008 : 7:28:45 PM
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| E-mail me for more info |
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dreamjob
145 Posts |
Posted - 04/30/2008 : 8:50:59 PM
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Thank YOU!
Yvonne
quote:
Originally posted by mganovsky
Apex Lending Inc. A 100% pay out net Branch Company, currently licensed in 32 States.
I am a Net Branch Manager with Apex, over the last 4 years I have never had any problems or issues.
At one time during the “hey day” we were signed up with over 400 lenders, now we are down to about 200 lenders to choose from.
Correspondent lender with Flagstar Bank, AE has weekly training for Flagstar’s website.
You get 100% of front and back minus a $495 admin fee to Apex. (I pass it on to the client); no monthly minimums.
Depending upon your State Law you can be either paid 1099 or W2; if you do FHA then you must be a W2 employee.
Rates are not padded; you go straight to the lender of your choices web site and upload the 1003 and register then lock the loan.
Superb rate and lender “finder” with Loan Rates Everywhere software. Just upload 1003 click on search and all lenders that will do the deal pop up with their rates and fee’s including pricing.
You can process your own loans, use the Corp processing or use a contract processor of your choice. FHA loans must be processed by Corp.
You can work out of your home or an office. If a Net Brach Manager you must have commercial space.
Superb Support, weekly training is offered via “GO TO MEETING” web site.
Go to my web site, click on employment, then on PAL and watch the short video.
If you have any questions, or need help, or would like an agreement sent to you please contact me at my company web site. mganovsky@apexlending.com
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syndicator
88 Posts |
Posted - 04/30/2008 : 9:05:30 PM
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Thanks 1003s.com
Also My understanding is that if you are part of a net branch you are able to originate in any state that the branch may do business in.
Also, You can be a broker and be affiliated with a net branch.
Is this correct?
quote:
Originally posted by 1003s.com
quote:
Originally posted by syndicator
How is a net branch set-up?
What is the pros and cons of net branches.
Are they similar to a franchise
Ravi,
each branch company is set up its own unique way. In IL it costs about
6-10K a year for license, audits, E&O and bonding to be a broker with no FHA.
A branch license in IL runs $350- and than you need to deal with per file fees or per month
fees. Does a broker shop or a branch make more sense for you?
It really depends on your volume, your need for FHA, ETC.
Most of the branch companies banker loans also.
Is bankering of use to you?
some people just want to banker others just want to broker,
others do both.
Some people like being part of a company with a compliance department,
to deal with state auditors ETC, and others don't mind keeping up with
all that type of thing them selves.
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1003s.com
2904 Posts |
Posted - 05/01/2008 : 06:36:09 AM
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Ravi,
Each state has their own license rules, dis-information on this topic
is common. Some states are HUD exempt, and others are not. Some states,
have several types of licenses, IE, CA, has a 3, DRE, CFL, and a Department Of
Corporations. LO's and or branches license requirements may vary, even
in the same state depending on the type of license the branch provider holds.
In some cases the license requirements may vary with the loan type, IE
several states require a seperate license for 2nd mortgage loans.
Some states, also require a LO license on brokered loans,
and not on bankered loans.
With regard to your question regarding a broker, just using a branch provider
for out of state loans.
Aside from the legal mine fields inherent with that type of thing,
quality control issues loom large, so don't count on a company,
doing that type of thing, _not to shut down owing you money.
While any company, can shut owing you money, some types of companies,
might be more inclined, to shut down owing branches money, than others.
I get calls all the time, from brokers who went from QMAR, to DANA, Bridge to Aapex,
for their out of states loans. And I don't score a lot of points with them,
when I tell them, to take a good look in the mirror, the next time they shave,
and they will see the person who made the poor business decisions,
in dealing with those companies. |
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mganovsky
1412 Posts |
Posted - 05/01/2008 : 12:25:19 PM
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Apex Lending Inc. Is not associated with any other variation of our companies name. And Carpet Muncher it is nice that you think 1003.com is the "go to" go on the BO. But I have arrived; every one is entitled to thier own opinion. I have never heard of any one that is or was associated with Apex Lending Inc. to say any thing bad about the company. What you are told is what it is. When changes are made to anything they are allways grand fathered in. Example web site support when I signed up was $29.95 per month, when it was raised I am still at 29.95 per month.
But anyway everyone have a nice day. |
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Carpet Muncher
1328 Posts |
Posted - 05/01/2008 : 2:16:44 PM
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quote:
Originally posted by mganovsky
Apex Lending Inc. Is not associated with any other variation of our companies name. And Carpet Muncher it is nice that you think 1003.com is the "go to" go on the BO. But I have arrived; every one is entitled to thier own opinion. I have never heard of any one that is or was associated with Apex Lending Inc. to say any thing bad about the company. What you are told is what it is. When changes are made to anything they are allways grand fathered in. Example web site support when I signed up was $29.95 per month, when it was raised I am still at 29.95 per month.
But anyway everyone have a nice day.
I have heard good things about Apex and I did look into them. The $1500 in start up fees that were deducted from the first couple of closed loans were a turn off. |
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jpr21
39 Posts |
Posted - 05/01/2008 : 2:21:21 PM
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was that money to pay for licensing fees for multiple states?
while $495 is the per deal fee, i assume you have to pay your own licensing fees for each state you plan on having a license in. plus all FHA/VA fees if you choose those.
i am just asking, i have nothing to do with Apex, but am trying to find a spot myself. |
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mganovsky
1412 Posts |
Posted - 05/01/2008 : 2:57:09 PM
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Yeah the $1500 start up fee turns some people away, but it is what it is. At Least thery take $500 out of each loan for ya. When I started with Apex I had to pay $1000 up front.
Yes if you want to be licensed in other States you have to pay for your own licensing.
Apex is licensed as a Lender and Broker in all the 32 States to give you the opportunity to get loans fron other States.
Apex Corp pays all FHA/VA licensing fee's. |
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ichibanbroker
580 Posts |
Posted - 05/02/2008 : 2:34:02 PM
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They take it out of the first 4 loans, not 2.
quote:
Originally posted by Carpet Muncher
quote:
Originally posted by mganovsky
I have heard good things about Apex and I did look into them. The $1500 in start up fees that were deducted from the first couple of closed loans were a turn off.
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Lexylou
14 Posts |
Posted - 05/17/2008 : 08:59:01 AM
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quote:
Originally posted by mganovsky
Apex Lending Inc. A 100% pay out net Branch Company, currently licensed in 32 States.
I am a Net Branch Manager with Apex, over the last 4 years I have never had any problems or issues.
At one time during the �hey day� we were signed up with over 400 lenders, now we are down to about 200 lenders to choose from.
Correspondent lender with Flagstar Bank, AE has weekly training for Flagstar�s website.
You get 100% of front and back minus a $495 admin fee to Apex. (I pass it on to the client); no monthly minimums.
Depending upon your State Law you can be either paid 1099 or W2; if you do FHA then you must be a W2 employee.
Rates are not padded; you go straight to the lender of your choices web site and upload the 1003 and register then lock the loan.
Superb rate and lender �finder� with Loan Rates Everywhere software. Just upload 1003 click on search and all lenders that will do the deal pop up with their rates and fee�s including pricing.
You can process your own loans, use the Corp processing or use a contract processor of your choice. FHA loans must be processed by Corp.
You can work out of your home or an office. If a Net Brach Manager you must have commercial space.
Superb Support, weekly training is offered via �GO TO MEETING� web site.
Go to my web site, click on employment, then on PAL and watch the short video.
If you have any questions, or need help, or would like an agreement sent to you please contact me at my company web site. mganovsky@apexlending.com
I joined Apex Lending, Inc. last month. I had spoken to two branches of Allied in SC but neither really had the time to train me.....I don't have the inside knowledge most have on this board.....Apex Lending offers a training program for their brand new/ no experience loan officers with a split that continues to rise to 100% within a very short period of time.
The continued training they offer is fantastic and with the PAL training program...I have someone who is actually walking through the loan process with me on the phone....so it's great. I am set up as a net branch because I do operate from a commercial space....but am still a trainee too.....
I came to this board right after I had spoken to a recruiter...and have read about various net branch companies.....but am really happy having chosen APEX to learn with and to grow with. |
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aaron1976
381 Posts |
Posted - 05/20/2008 : 7:08:04 PM
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I looked into Apex Lending and they claim to be licensed in all 50 states, but I was told that anything out of California had to go through Wachovia; also, they are unable to be FHA licensed so they use Perfect FHA. Their set-up is the same as any broker can already do themselves. But, if you want to just be an independent LO and not have to pay the house fees associated with working with a broker, then it is a viable option.
Aaron Cirlin
818-590-4288
aaronc1976@hotmail.com |
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LOANGUYNYC
99 Posts |
Posted - 05/21/2008 : 2:38:32 PM
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Stay away from these guys
http://www.brokeroutpost.com/loans/brokers/forum/topic.asp?TOPIC_ID=219154 |
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brandie
2976 Posts |
Posted - 05/21/2008 : 2:49:57 PM
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quote:
Originally posted by LOANGUYNYC
Stay away from these guys
http://www.brokeroutpost.com/loans/brokers/forum/topic.asp?TOPIC_ID=219154
We get the hint.
FYI if you keep place the same response on every post you will get banned. |
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LOANGUYNYC
99 Posts |
Posted - 05/21/2008 : 5:05:21 PM
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quote:
Originally posted by brandie
quote:
Originally posted by LOANGUYNYC
Stay away from these guys
http://www.brokeroutpost.com/loans/brokers/forum/topic.asp?TOPIC_ID=219154
We get the hint.
FYI if you keep place the same response on every post you will get banned.
Thanks for the heads up...I know it's a little annoying but if I can save a few people from losing thousands of dollars in a time where funds are short, then at least I know I'm doing something good for other people. |
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1003s.com
2904 Posts |
Posted - 05/22/2008 : 08:19:29 AM
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quote:
--------------------------------------------------------------------------------
Originally posted by mganovsky
1003s.com is the "go to" go on the BO.
--------------------------------------------------------------------------------
Mark, thanks for all your kind words,
and,your support is greatly appreaciated.
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