Mortgage Net Branch Opportunities -- (Primary Residential Mortgage, Inc.) -- The subprime mortgage meltdown has left many mortgage originators in need of a source of funds for their borrowers with less than prime credit. Mortgages insured by the Federal Housing Administration are increasingly filling that gap, but getting through government requirements to obtain FHA lender approval remains arduous.
To avoid dealing with these requirements alone, many of the 50,000 displaced mortgage professionals are seeking mortgage net branch opportunities, and several such companies are being created to meet this demand. By operating under the umbrella of a net branch company, originators can take advantage of the parent company's back-end support. Services typically include accounting, marketing, underwriting, shipping, and closing; more importantly, net branch companies often have the skilled professionals, the necessary licensing, and the asset requirements necessary to originate FHA loans.
However, loan officers are finding that these fly-by-night net branch companies, while boasting the ability to originate FHA loans, lack the experience and resources to help them through the process.
"Most of these new mortgage net branch operations do not have the systems or experience to support mortgage net branch originators in a retail net branch environment," says Dave Zitting, President and CEO of Primary Residential Mortgage, Inc., which has been a HUD/FHA Direct Endorsement lender since 1998. "We've spent the last 9 years perfecting these systems with the help of over 200 branches nationwide."
In August, Primary Residential Mortgage, Inc. added 3 large net branches to its network. The company is continuing to expand its reach, and is in the process of hiring 35 new employees to offer the high level of support demanded by its increasing volume.
ABOUT PRIMARY RESIDENTIAL MORTGAGE, INC.
Headquartered in Salt Lake City, Utah, Primary Residential Mortgage, Inc. (PRMI) was founded by Dave Zitting, Jeff Zitting, and Steve Chapman in 1998. Since its inception, PRMI has evolved from a four-person business to a nationwide multi-billion dollar mortgageoperation with 800 employees working in approximately 200 Net Branches in 47 states. Branches operate under the PRMI brand or as DBAs as part of the Divisional Joint Venture and Consortium Partner programs. Serving all segments of the market, Primary Residential Mortgage , Inc. is a privately held, debt-free company that focuses primarily on traditional loan products. Licensed in Arizona, Alabama, Arkansas, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Minnesota, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee,Texas, Utah, Vermont, Virginia, Washington, Wisconsin, and Wyoming.
Mortgage Net Branching Opportunities , Marketwire
http://www.marketwire.com/mw/release.do?id=778104
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2 comments:
thanks for the heads up!
Top Flite Financial is a mortgage broker and lender, looking to expand their presence by getting "qualified candidates" as Loan officers, or possibly opening up physical offices. The tffinc.net site is primarily designed to encourage people to open up a "net branch" of their Top Flite Financial business.
Top Flite Financial offers qualified candidates the opportunity to begin as a Loan Officer with commission splits that far exceed the industry median; or for those that are wishing for advancement the opportunity to operate a Top Flite Financial physical office location. Top Flite has teamed with the some of the top legal staff to ensure that all operations meet both state and federal guidelines; thus resulting in the security of yours and our future.
http://www.tffinc.net
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