Net Branch Review

A Mortgage Net Branch, also referred to as an Affiliate Branch or a Broker Branch, is basically a corporate production division office of a large mortgage banking organization. The affiliate manager oversees the entire branch with supervisory authority for both the on-site staff and the operational costs. The Net Branch’s main goal is to offer their client’s mortgage services. This is accomplished through the provision of loan products to individuals and/or groups with a Net Branch mortgage service agreement. There are many Net Branch activities and jobs to consider.

One major job responsibility is to loan officers who work directly with the mortgage company. These loan officers often have extensive experience in their field and deal with hundreds of individuals and groups through a variety of financial needs and circumstances. In most cases, these loan officers will be specialized in one type of product. To be categorized as a Net Branch employee, you need to be knowledgeable in the various products offered. Most Net Branch employees will start off by working as a loan officer for a small mortgage company. From there they may branch out to other mortgage companies and eventually to Net Branch Mortgage, Inc.

Net branches do not hire direct employees but rather pay commissions to hired loan officers. This compensation structure can be split into a flat fee or an installment based fee depending upon the lender. The exact fee structure will vary from lender to lender. Most lending institutions require that all net branches receive a fee based on the number of loan officers working for them.

The majority of lenders require that all net branches receive a standardized, consolidated FHA, VA, or conventional loan officer fee set annually. Some companies require additional fees depending on the lender, such as mortgagee processing fees. The majority of FHA, VA, and conventional loan officer’s fees are due at the time of hiring. In addition, some mortgagee processing fees will apply to the mortgagee application directly, while other fees are paid after the mortgagee application has been processed and a decision has been made. Depending upon your lending institution, you may pay nothing up front, but may be required to pay a monthly fee.

As a borrower you have the right to receive a free no obligation quote from any Net Branch mortgage company. All Net Branch mortgage companies will provide you with a free no obligation quote. These quotes are usually very competitive since Netbranch lenders know that their service and products are highly valued by today’s homeowners. A lot of today’s homeowners are looking for ways to decrease their monthly mortgage payment. Since many Netbranch lenders work with hundreds of thousands of financial clients, the competition among the various Netbranch mortgage companies is very intense.

Before you begin shopping for Netbranch mortgage products, it’s advisable to meet with your Net Branch lender or branch officer. This will allow you to get a better understanding of how their business works and if they offer products that will suit your unique situation. It will also allow you to ask any questions that you may have regarding your Netbranch mortgage loan application. The Net Branch manager should always be available to discuss your Netbranch mortgage options with you. A good Net Branch manager will always work closely with you, answer any questions you may have, and make sure you are satisfied with your Netbranch mortgage service.