Mortgage Net Branch VS Loan Officer

mortgage branch managerIf you are a loan officer one of the great and simple ways to give yourself a huge boost in income for doing absolutely nothing is to stop working for your mortgage company and open a mortgage net branch with one of the fine companies involved in mortgage net branching.

Most loan officers are pretty autonomous people, and don’t like the idea of being chained down in any way. It’s for this reason I believe many medium or high producing loan officers haven’t even investigated the mortgage net branch opportunity.

This is foolish, because if you did, you would realize the net branch opportunity is almost identical to your current situation.  The fact is most mortgage net branch managers act simply as loan officers with zero or one employee, a processor.  Sound vaguely familiar?  Don’t let the title branch manager scare you out of increasing your income by over 1/3 on no extra effort.

You see, as a loan officer you can never make more than your current pay scale.  This isn’t true for branch managers.  The bare minimum they make is their pay scale.  Yes, they have to follow the law in this regard as well, but this is just the start and window dressing for the powers that be.

The branch manager is paid on the total profitability of the branch.  That means total gross receipts minus expenses like the basis points the manager makes on his or her own deals.  After the manager gets paid, pays the processor, keeps the lights on, and pays the corporate office for their company fee, the manager keeps the remaining profit.

Not bad for no extra work.  Well, there is a little extra work.  As a branch manager you must turn in your expenses every month, and let the corporate office know on whom you pulled a credit report.  Tough stuff

In fact, most producing net branch managers, who do more than 5 loans per month, find their time can actually go down on a monthly basis.  Why is that?  Because once you start making real money in this game you can begin hiring high quality processing.

Most people reading this have taken on the role of processing much of many of their own files.  You do this because you simplyProcessor do not trust the workmanship of your processor.  It can’t be for any other reason.  Hence, you are more of a glorified processor than an actual loan officer conducting high level activities.  Rather, you are stuck in a $20 an hour job because why?

Because your company hires people that could be replaced quite easily for the same salary they pay them.  That means you get the cream of the crap and no more.  When you have your own branch, and you start making money, you can hire the best processing money can buy, and you would be amazed at how that frees up your time to go out and market or do other high yield activities.

Having your own net branch can get you there that much quicker because of the pay scale difference.  Look into it.  It’s worth it.


The Good Life in North Phoenix

Homes in north Phoenix vary so radically in size, shape, and price that it’s very difficult to adequately describe them to a neutral observer.

The reason most people think of living in north Phoenix is for convenience purposes and the fact that the vast majority of north Phoenix neighborhoods are of higher quality, meaning the crime rates are relatively low compared to the other parts of the Phoenix area, allowing for a safe environment to raise children or simply walking down the street with your favorite squeeze.

North Phoenix has numerous roadways running through it which allows people to get to all parts of the valley.  The 101 loop runs all the way around the valley and runs east/west right through north Phoenix, so one is never too far from a freeway.

Running north south, you can get up to Prescott, Sedona, or Flagstaff using the I-17, which runs along the western portion of north Phoenix.  Off the I-17 one can find newer communities as far north as Anthem, older neighborhoods south of the 101, and acreage lots north of the 101 and east a bit toward Cave Creek.

The 51 runs directly north of the downtown part of Phoenix and grooves along the eastern portion of north Phoenix.  It stops and t-bones at the 101 in the Desert Ridge area.  Desert Ridge is one of the true development gems in Phoenix.  It was started in the early 2000s, and is slated to have almost 50,000 people living there by 2025.

Desert Ridge homes are on the upper scale, starting in the mid 200s and moving up to over 1 million.  They are of the newer type, which most buyers today gravitate toward.

Additionally, Desert Ridge has perhaps the largest outdoor shopping center and mall in the entire valley.  Here you can find big box stores like Target and Office Max, as well as a true outdoor mall, which has a plethora of dining and shopping choices for residents and visitors alike.

You’ll also find many golf courses in the north Phoenix area.  Golf is why many retireesPhoenix Arizona come to Phoenix and it does not disappoint.  You can find championship courses on private and public courses alike.  It can be expensive in the winter, so be sure to check Groupon for discounts and companies love to use them if they want the cheapest possible customer who will never come back because they are always looking for a deal and have no real loyalty.

As far as dining and other to do’s.  North Phoenix has plenty of options, but as mentioned earlier, you have freeways to take you into Scottsdale and the central Phoenix areas where you can really find some excellent establishments.  North Phoenix is really quite void here, so you may want to do exactly that.

A favorite destination for excellent New Mexican cuisine is Richardsons at Maryland and 16th St.  Here you will find some of the best food in town, along with a really neat place to sit and drink yourself silly.  It’s spicy but oh so good.