Net Branch

Net Branch

A facility offered by some lenders to mortgage brokers where de jure the brokers become employees of the lender but de facto they retain their independence as brokers. One of the advantages of this arrangement to brokers is that they need not disclose yield spread premi- ums received from lenders.

References in periodicals archive ?
California metro areas accounted for five of the 10 metro areas with the highest net growth in branches, helping the state post a nation-leading 22 net branch additions.
An adaptation and improvement from the net branch model, Inlanta's partner branches combine the agility and independence of a mortgage broker with the administrative and logistical support (i.
Net branch operations are dominant among the latest victims.
30pm, NEt Branch, Nat PoW Assn, Companions Club, Leazes Park Rd, Newcastle; 7pm, Tyneside branch, Merchant Navy Assn, South Shields Seamen's Mission, Mill Dam, South Shields.
Mizuho Bank said it will keep in place its Net branch, which it opened Jan.
Example 2: Net branch losses prior to the incorporation of company F are $200.
Over the past 10 years, Onstott owned and operated National Mortgage Lenders, a full-service Texas-based mortgage broker, and in 2007, he opened a net branch of Primary Residential Mortgage.
By comparison, the industry closed 2014 with a net branch increase of 17 for the year, after having closed more branches than it opened in 2013 and 2014, the firm said.
Net branch organizations and community banks have benefited from this industry shift, since they now are able to acquire effective origination teams.
Speaking at the Commercial Capital Net Branch Conference in Atlanta last week, Peart said, "Bear Stearns Monday was less important than what I will call, 'Lehman Tuesday'.
MortgageDashboard, a Web-based mortgage LOS provided under the software as a service (SaaS) model, is in use by over 25 net branch companies and thousands of individual mortgage brokers.