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tcm360
1 Posts |
 Posted - 05/06/2008 : 1:10:35 PM
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| Anyone know anything about Emery Federal's affiliate branch program (www.emeryfederal.com). Currently looking for a federal charter under which I can broker loans for a flat fee or less than 10% split to bank/charter. |
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brokaw716
27 Posts |
Posted - 05/06/2008 : 1:28:48 PM
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I've heard about them ... supposedly they are good you just have to jump through a lot of hoops ...
For example, in order to lock a rate you need to fax in the rate lock form and hope someone checks the fax machine and actually locks the rate on your behalf ... also, you don't get to deal with the lender AEs directly, but rather deal with an Emery rep who speaks to the AEs on your behalf ... and you have to pay a monthly fee to use their LOS (encompass) ... etc.
All in all they seem to be good and legit ... just small things that can be overcome with some patience.
Again, never had personal dealings with them ... just what I've heard and I'm considering signing up with them as well. |
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Gilby21
137 Posts |
Posted - 05/06/2008 : 10:42:02 PM
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| I have heard good things about them. FHA is on the way. |
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word2thewise
6 Posts |
Posted - 05/21/2008 : 11:33:34 AM
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just want to chime in on Emery Federal and correct what is noted by brokaw716
he wrote:
"For example, in order to lock a rate you need to fax in the rate lock form and hope someone checks the fax machine and actually locks the rate on your behalf ...also, you don't get to deal with the lender AEs directly, but rather deal with an Emery rep who speaks to the AEs on your behalf ..."
but that is inaccurate. Emery Federal Associates can work directly with the lender AE's, including locking rates. Some lenders you have to use Emery's processing center, which may be what brokaw is referring to.
Hope that helps...
tcm360 & brokaw716, Emery Federal is a solid company. I can give you more info if you wish. Good luck to you, |
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brokaw716
27 Posts |
Posted - 05/21/2008 : 11:40:03 AM
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Thank you for the clarification ... again, no personal dealings, just what I was told by a few brokers.
Perhaps it's based on size of company ... i.e.) smaller brokerages have to get more hand holding by Emery reps instead of directly with AEs. |
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