FAQ About Our Mortgage Net Branch Program

This page will answer some of the most common questions asked about the net branch opportunity made available by American Nationwide Mortgage. We invite you to fill out the quick online application or call us directly for more information.

---

Q: What states are you licensed in?
Alabama, Arizona, California, Connecticut, Colorado, Delaware, Florida, Hawaii, Illinois, Indiana, Iowa, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New York, North Carolina, North Dakota, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington and West Virginia .

Q: Will I Be A Net Branch of American Nationwide?
A: It would be more accurate to say that you will be an 'Affiliate Branch' of American Nationwide Mortgage Company. The reason is that many Net Branch companies do not conform to the regulatory requirements set forth by HUD (Mortgagee Letter 00-15 regarding Branch Arrangements). This is very important because being HUD-Compliant allows us to offer branches the ability to do FHA and VA loans.

Q: Can I originate loans in other states?
A: Yes, one of the benefits of the American Nationwide Mortgage Company, Inc., program is the ability to originate loans in 30 states, providing proper licensing or loan registration is complete.

Q: How long has ANMC been in business?
A: ANMC has been in business since 1996.

Q: Is the Company a mortgage lender or broker?
A: ANMC is a mortgage lender; however most branches operate as a broker, which allows each location to choose where to send their loans.

Q: When do I begin to pay?
A: You begin to pay after you are approved with ANMC.

Q: Can I change Branch programs?
A: Yes! You can change programs after you have been on a program for 6 months.

Q: What are the fees for ANMC?
A: These are the fees charged for the services provided by the Company. ANMC allows you to choose from two extremely competitive plans.

Option 1. $395.00 per loan file. There is a minimum of one (1) loan produced per calendar month.

Option II. Monthly flat fee of $1,500.00 for branch office closing between 1-30 loans per month. Additional cost for premium states (NJ, NY) call for detail.

Q: Do I get charged any fee if I choose option 1 (per loan fee) and don’t close any loans?
A: *If you originate only one loan per month the charge would be the minimum of $395.00.

Q: How often do I get paid?
A: ANMC payroll department process payroll on a weekly schedule. All employee pay must be made as W/2 wages through payroll. Any and all administrative cost and insurance is paid from the branch profits.

Q: Do you offer direct deposit?
A: ANMC offers and recommends direct deposit for you convenience.

Q: Does ANMC offer benefits?
A: ANMC has a full range of benefits for each branch employee to choose from. ANMC has health, life and disability insurance along with a 401k plan. *Note; each branch is responsible for a portion of an employee’s health insurance.

Q: Will I be a W-2 Employee or 1099?
A: All ANMC personnel are W-2 employees. There are no 1099 contractors.

Q: How are loan officers compensated?
A: Loan officer commissions are determined by the Branch Manager and paid through payroll via a payroll company designated by ANMC.

Q: Who determines staffing levels, compensation, etc?
A: The Branch Manager is responsible for these decisions in consultation with the Corporate Office; Branch staffing and compensation is fully vested in the Branch Manager.

Q: Is my branch assigned a specific territory?
A: American Nationwide Mortgage Company, Inc., does not assign specific territories. A limited number of branches in each market are maintained to allow each branch to achieve its full potential.

Q: Can my branch have more than one manager?
A: One person acts as branch manager. If a new branch has more than one partner, one person assumes the role of branch manager.

Q: Can I keep my current business name or allow me to use a DBA?
A: No, all branch locations must do business in the name of American Nationwide Mortgage Company, Inc.

Q: What lenders are you signed up with?
A: American Nationwide Mortgage Company, Inc., offers national lending solutions with over 150 lenders offering a vast array of products such as, conforming, sub prime, FHA, VA, 2nds, Jumbos, Commercial products, programs for investor properties, bankruptcy, rural, condo, and manufactured homes.

Q: May I use my current investors if they are not on the list?
A: Yes, You simply provide us the Broker Application from your lender for us to review. Providing that our criteria have been met, we will complete and submit application. We want to ensure that you have the flexibility to place your loan with lenders you are familiar with.

Q: Can I process loans at my branch?
A: As a branch manager, you may process your own loans, hire your own processor or use contract processors on non-government loans. Government loans are processed by both; the lender and branch processor.

Q: Do you have access to LP and/or DO?
A: Yes, we will provide you with a manual on how to get set up with it.

Q: What training does American Nationwide Mortgage Company, Inc., provide?
A: The affiliate/branch manager is required to participate in a telephone orientation with the corporate affiliate/branch manager trainer to learn American Nationwide Mortgage Company, Inc., guidelines, policies, and procedures.

Q: Is American Nationwide Mortgage Company, Inc., HUD approved?
A: Yes, American Nationwide Mortgage Company, Inc., Branch program meets all regulatory requirements and conforms to those set forth in HUD Mortgagee Letter 00-15, regarding “ Branch Arrangements.”

Q: Do you have a compliance department?
A: Yes, We have a compliance department that makes sure we are in compliance with all federal, state and local rules and regulations.

Q: Do you have restrictions on the maximum points/fees charged?
A: Yes, fees are limited to the extent necessary to ensure that we do not make high cost loans as defined by federal, state or local regulations.

Q: Who sends out the Good Faith Estimates of closing costs?
A: You are responsible for sending out Good Faith Estimates as well as all state specific disclosures within three days of taking an application/pulling a credit report.

Q: What do I do with my file after the loan has been closed?
A: All files that have not been processed by American Nationwide Mortgage Company, Inc., must be sent to the corporate office for compliance.

Q: How do I advertise?
A: All advertising must receive a written approval by the compliance department to ensure that all content complies with Federal, State and Local Regulations.

Q: How are branch expenses paid?
A: Each Branch Manager is compensated from the net profits generated by the branch operations. Net profits are the revenues remaining after all expenses of the branch are satisfied. These expenses involve operating costs such as rent, phones supplies etc. Also included is the fee to ANMC, salaries and commissions for branch employees, costs for health insurance, administrative cost and any other miscellaneous expenses, related to running your office. ANMC must issue the check for your monthly expenses, which are paid by the accounting department. The branch pays the corporate fee ACH on the first of the month, based on the program you choose. The company will also draft the branch’s share of insurance cost for the branch.

Q: Do I have to set up a reserve account?
A: The branch must keep a cash reserve to cover two months’ payroll and fixed costs in an American Nationwide Mortgage Company, Inc., account.

Q: Do you offer accounting services?
A: We have an entire staff of accounting consultants on-site.

Q: I have loans in my pipeline with my former company, how do I handle these?
A: Depending upon your agreement with your former employer, It is usually required you close the loan with your former employer. Any new applications taken after your approval date will be closed under your branch office. The borrower may also sign a transfer letter requesting the file to be transferred to your new branch office.

Q: Is there an initial setup with American Nationwide Mortgage Company, Inc., Net loan officer program?
A: The only fee you pay up-front is $145.00. This fee covers the cost for criminal background check.

Q: Does ANMC require office space?
A: ANMC prefers that all of our branches operate out of professional office space. We want offices to be clearly identified to the public and be staffed and equipped to deal with clients in a business like manner. An executive space is acceptable for smaller branch operations.

Q: What training does American Nationwide Mortgage Company, Inc., provide?
A: The affiliate/branch manager is required to participate in a telephone orientation with the corporate affiliate/branch manager trainer to learn American Nationwide Mortgage Company, Inc., guidelines, policies, and procedures.

Q: How long does it take to get approved as a new branch?
A: Upon completion of the branch application employment package and other requested documentation, your application will be received for approval within approximately 3-5 days.

Q: What type of loan software do you require?
A: Web based Mortgage Dashboard software.

Q: What type of experience and equipment do I need?
A: You must have the following experience and equipment/items to setup and run your business with American Nationwide Mortgage Company, Inc:

*Minimum 2 years full-time in mortgage originations.
*Require one closed loan per calendar month or minimum $395.00 charge.
*Professionals who are ethical and committed to their own success.
*Business telephone line with voicemail/answering service.
*Fax Machine
*Computer and Modem
*Internet Access with e-mail
*Phone line for fax/internet access

Q: How do I get started?
A: Complete an on-line application, and we will e-mail you a complete package.

For more information, please call us at: 888.886.4231 or Click Here to Apply Online