Best Net Branches?

[samsung]

Has anyone looked in to this?

What are the net branches out there that people recommed. I haven't done too much homework, but I feel like a lot of people aren't very satisfied.

Are there any good and reputable companies out there?

[countrywidelender]

try searching [url]www.bankrate.com[/url]

I'm pretty sure they have a net branch ranking system on there

[jraringa]

I've heard a few good things about South West Funding, but a lot of a bad things.

I considered them for a while before I decided against it. I'm glad I did, because they screwed up a few files for my former co-worker. He never got paid for them, they closed behind schedule. Everyone was furious and he looked bad.

[orbach]

There's a guy on brokeroutpost.com named midas who promotes a pretty good system. His website is: [url]www.getmoremoney.biz[/url]

He sets you up with processing too. People seem to like him. I'm thinking about taking the leap but haven't gotten around to it yet.

[hector]

Word on the street has it that Troy (loanofficerforum.com) is about to launch a net branch. I've talked with him a few times and he's got a really interesting compensation plan. He's doing a 90/10 split right out the gate with no minimums and he's capping how much you pay into the company. After that it's 100%!

I hope he's sticks with that plan. I'm going to hold out until he gets up and running.

[Troy]

That's right! It's in the works. I'll try to have it out by the beginning of 2006.

I'm sure it'll take me a few months to get the system completely ironed out. Then I'll let everyone have at it. There's no reason why an LO that knows what he's doing shouldn't make at least 90% if he works from home or leases his own office.

[Secret!]

samsung, you've said "you haven't done much homework" that's probably your problem then - because there's probably 300 or 400 of them, and most of them are different one from another. Many are very good, with lots of member associates/branches.

I suggest you contact them 2 or three dozen at a time, have them send you their sign-up kit and other promotional materials and read away! That way you'll find what's BEST for what YOU want!

[Troy]

Wow...welcome to the forum Secret. I'm honored to have you here in my little community

I've done a solid amount of research and there's quite a few companies out there. I'm still finalizing my own net branching system.

Samsung,

Secret is right. Do some solid homework and I'm sure there's a branch out there that is for you. What you should do is develop some form of criteria based on what is most important for YOU. Maybe your willing to give up a little on the split or fee if they utilize a certain technology that you really like. Well...you get the idea.

Good luck

[Troy]

I'm nearing the launch of my net branch. It will start small!

I wanted to be able to bring benefit to LOs with the best compensation plan that I could muster. What it meant was, I didn't want to get the company in debt imediately and be forced into doing anything stupid because I have to pay a heap of bills.

Consequently, it has taken me longer then I ever would've expected. It meant working deals and trying to partner with solid companies. I did it without spending a lot of money. Therefore, I don't have to try to gouge people on enrollment fees and crap like that. Also, from the first loan that the company does...it will be profitable!

We'll start off lending in CA before pushing East. Feel free to post here if you live/work in CA and are interested in net branching and I'll give details to my new company shortly.

Thanks everyone

troy

[subprimeway]

Troy keep me posted on your net branch, always want to stay in touch with as many as possible to be another subprime lender to add to their wholesale lender list!

Nice forum, glad I found my way here!

Thanks,

Scott Schuhwerk
SRI Wholesale Mortgage
916.747.8082 Cell
916.543.6974 Fax
[email]scott@srimortgage.com[/email]