Is there a benefit in being a large bank branch?

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BranchOpportunit

3 Posts

Posted - 06/16/2008 : 3:53:56 PM

Many branch managers think they benefit greatly by being part of a large banking corporation with their own underwriter and licensed in 50 states. Yes, having your own underwriter is great, you may end up closing a loan slightly faster, however, have you considered all the lost loans and fees because these loans were denied and you had no other banks to send them to!

Typically your banks will mark up their rates 1/8 – 3/8 of a point and you’re in the industry to know the difference in YSP on that markup, could be a 1/2 – 1 point less per deal to your bottom line. On 5-10 deals could mean as much as $5,000-$10,000 (do the math). Now broker out your business rather then using your bank, the rates of other banks are increased without you ever knowing it!

Evaluate your business, do you really use nearly 50 states or do the loans you originate take place mostly in a few states. Why pay for states your not using?

The help you need is only ten calls away and ten voice mails and maybe numerous e-mails and a couple of days, due to large corporate politics, and how far do you have to chase for your fees, it may take 15 days maybe even a month or too.

You are also charged different fees for all different services a la cart. Ultimately, you could be dining at a very expensive restaurant.

NEED I SAY MORE!!!

Mandyvilla

2768 Posts

Posted - 06/16/2008 : 4:55:59 PM

COMMENTS REMOVED, HAVING ISSUES TRANSLATING THE OP.