FAQ About Our Mortgage Branch Program

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This page will answer some of the most common questions asked about the 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?

A: Alabama, Arizona, Connecticut, Colorado, Florida, Georgia, Illinois, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Jersey, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, and Washington.

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Q: Will I be a retail 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 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 24 states, providing proper licensing or loan registration is complete.

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Q: How long has ANMC been in business?

A: ANMC has been in business since 1996.

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Q: Is the Company a mortgage lender or broker?

A: We are a direct lender for FHA, VA, USDA, NON-QM, Reverse, Fannie Mae and Freddie Mac loan programs.  We underwrite and fund from our corporate office in Tampa, Florida.  Our loan pricing is very competitive and our loan production times are some of the bst in the industry. We bank 95% of our loans in house however, you will have the ability to broker loans if needed for niche products.

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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.

 

Q: Do you offer direct deposit?

A: ANMC offers and recommends direct deposit for you convenience.

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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.

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Q: Will I be a W-2 Employee or 1099?

A: All ANMC personnel are W-2 employees. There are no 1099 contractors.

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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: 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.

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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.

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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.

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Q: What lenders are you signed up with?

A: American Nationwide Mortgage Company, Inc., offers national lending solutions with over 10 lenders offering a vast array of products such as, conforming, reverse, FHA, VA, USDA, 2nds, Jumbos, Construction loans, programs for investor properties, bankruptcy, rural, condo, and manufactured homes.

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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.

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Q: Can I process loans at my branch?

A: As a branch manager, may not process your own loans, you may hire your own processor on non-government loans. Government loans are processed by the corporate office.

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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.

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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.

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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.”

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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.

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Q: Who sends out the Disclosures of closing costs?

A: Our compliance department accurately send out Disclosures as well as all state specific disclosures within three days of taking an application/pulling a credit report.

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Q: What do I do with my file after the loan has been closed?

A: All non-government files that have not been processed by American Nationwide Mortgage Company, Inc., must be sent to the corporate office for compliance.

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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.

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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.

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Q: Does ANMC require office space?

A: ANMC prefers our branches to operate out of professional office space. However, under certain state laws, working from a home office is permitted for an individual loan officer, manager. 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.

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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.

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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 1-2 days.

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Q: What type of loan software do you require?

A: Web based OptimalBlue & Encompass software.

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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.

* 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

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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: 1800 375 8698 or Click Here to Apply Online