A Look at Net Branch Opportunities

A Look at Net Branch Opportunities

Jun 2, 2021 Service by

A Mortgage Net Branch, also called an Affiliate Branch, is an independent commercial production unit division department of a large mortgage banking company. These companies are mostly located in the Pacific Northwest, but have also established branches elsewhere. These companies have many different products and services to offer to their customers, including mortgage underwriting services. There are also several other industry-related products and services that they often offer. In general, when you work with these companies, you will receive professional, cost-effective service with qualified sales personnel.
The main job of the net branch manager is to direct and manage all mortgage company advertising and marketing efforts. This includes but is not limited to, web site design and placement, print and post card design, radio and TV commercials, direct mail marketing, brochures and flyers, stationery, telemarketing, outbound telephone calls, direct mail pieces, brochures, and other printed advertising and marketing materials. In many cases, the net branch manager will collaborate closely with the loan officer and other various specialists inside the mortgage company. The net branch manager is often in charge of the company’s entire advertising budget.
Becoming a net branch manager is not difficult. Some people with a high school education or equivalent may be able to get a job without a college degree, although a college degree is highly recommended. It is generally required that people working in this capacity have at least a year of experience in the mortgage brokering industry. Those who wish to work as loan originators must pass the LTV test, a test that enables the mortgage broker to decide if a person has the appropriate financial responsibility for lending money. Some brokers may require an even higher educational level, including a degree from a business or professional school. Many states also require LTV certification.
There are a number of benefits to working at a net branch. Employees will have more holidays and sick days than employees in a traditional role. Most will receive an annual performance appraisal that often includes an assessment of customer service. Most will also receive bonuses based upon the success of their subordinates. Net branch employees will typically enjoy a favorable supervisor-employee relationship.
There are a few potential downsides to net branches. Most of the work comes from non-traditional lenders, such as those associated with international banks and large corporations. This means those with financial backgrounds may not necessarily fit in well with an office environment that emphasizes professionalism and client orientation. Another drawback is the possibility of missing bank financing opportunities when working from home. While it is uncommon, some employees may not be trained to handle client interactions or face the consequences of not meeting loan deadlines. For these reasons, net branches usually prefer employees who originate loans on their own.
Net branches do have a few advantages, however. The majority of employees are already familiar with the banking system and have direct access to important financial resources. In addition, most offer competitive compensation packages and the work does not require a specific number of years in the field. Most business owners find net branch opportunities loan officers to be a great alternative to traditional banking.

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