Q: Why come aboard with Virtual Branch?
A: Virtual Branch is at the top in the Mortgage Industry. We give our associates a complete "tool box", not just the tools, to do their job efficiently and successfully. You would become an active part of a nationwide organization of LPO's (Loan Production Officers) connected by our comprehensive business network. When you join us, you will progress from your current situation as a broker in a local market to becoming an associate in a national market able to offer a wide-ranging product line including conventional and sub-prime products. As a broker in this highly competitive industry, you owe it to yourself to offer the most products in the largest possible market available to you. In this day of modern technology, you must be prepared to meet the needs of a more informed and aware borrower.
Q: When and how can I get started?
A: Practically immediately! Upon receipt of your Application and Agreement we will review your information and have a phone consult with you and determine the proper Program to place you. Setup is generally 2-3 business days. You will begin receiving all necessary tools at that time.
Q: What lenders can I broker loans to?
A: We provide our associates with access to over 100 national and regional lenders, as well as more than 65,000 different loan programs. With these products and availability, our associates can be assured that finding the right product for potential borrowers has never been easier.
Q: What states can I originate loans in?
A: All 50 states.
Q: Do I need any licenses?
A: You will be working under our Partners Licenses. We handle all licensing for you.
Q: What fees does Virtual Branch charge?
A: One of the many benefits of working with Virtual Branch is that we only charge you $495 per file fee. This fee may go on the HUD payed by the Borrower. Ask us about our Unlimited Branch Program – No Per File Fees.
Q: Can I advertise in the Bank name?
A: Yes, in order to streamline our corporate marketing focus, we ask that you obtain written approval from our Marketing department prior to placing any advertisements. Your proposed advertisement will be reviewed to ensure that it complies with our marketing standards, as well as all federal, state and local regulations.
Q: I’ve had some credit problems in my past. Is that a problem?
A: We hope you will manage your financial affairs, although we recognize situations do take place that can cause poor credit. We expect all of our affiliates, including our Loan Production Officers, to perform professionally, legally and responsibly. If you are able to maintain these standards, your credit issues will not prevent you from joining our team.
Q: Do you have volume requirements?
A: We do like to see at least two closed loans per month by each loan officer. However, we will accept one closed loan per month.
Q: Does the Bank have an initial investment requirement?
A: Typically No. However with our program we do require for you to utilize our Loan Origination System and Processing Services, which will require a setup, training, and a per month network fee.
Q: Do I need to establish an office?
A: You are free to work from your home office or any other location of your choosing.
Q: I'm a big producer. Are you able to pay me a higher commission? Can I get a better deal?
A: 100% Commission is our highest payout program.
Q: Do I need to have experience in the mortgage industry to join your company?
A: Yes, our associates have gained considerable experience working at other mortgage companies before joining us to increase their compensation. We are not equipped to offer the hands on attention that an inexperienced Loan Officer would require. However with our system and Processing department we will handle all compliance and disclosures. |
