Become Part of Our Growing Network
Learn how you can be part of the Power Mortgage team
Are You Ready to Operate Your Own Branch?
If you are an ambitious self starter who has experience in the mortgage industry, you could be the perfect fit for our team. We are actively looking to expand our branch network to offer more lending services in additional areas. At Power Mortgage, we provide all the necessary training and tools to help make your branch a success. We also provide ongoing support to help you bring in new business and then turn those applications into closed loans quickly and efficiently.
If you, like us, are committed to the highest level of customer service, crave the need to offer the BEST lending products, and are looking for a healthy work life balance, we want to hear from you. Contact us today to further discuss the need in your market for adding another lending branch of Power Mortgage.
FAQ's About Managing Your Own Branch
- How do I know if I'm qualified to operate my own branch? There are several attributes we like to have in our branch managers. If you are a strong producer who wants to start bringing in a greater percentage of income off each origination versus putting some of that into someone else's pocket, you could be a good fit for us. If you currently have a team of highly skilled, successful individuals actively working together for a financial institution such as bank or credit union but are looking to increase your income, this would be a great opportunity for you. Lastly, if you have experience working with another mortgage broker but would like to expand your lending arm across the country or have access to various products such as USDA or VA loans, you should take advantage of this opportunity! Think you may have qualities such as these? Contact us today, and we can discuss your future with our team!
- I see offers like this all the time... what's different about this branch opportunity? Depending on the experience and backing of your funding arm, each mortgage banker across the country will operate somewhat differently. This is especially true of rules and regulations for each company. For instance, some entities will restrict you to lending within a specific geography while others have no boundaries. Commission plans are also very different among branches. Furthermore, very few companies equip and enable their branches to do business nationwide without additional expenses, licensing which will limit your profit. Let us help you fully understand all your options and layout the process of how to best choose a trustworthy, supportive partner.
- How will a partnership with Power Mortgage benefit me? One of the primary benefits is that the yield-spread premiums are not required to be disclosed if you are operating as an individual branch of a bank or mortgage company. Furthermore our government lending capabilities will quickly fill your pipeline as USDA, FHA & VA mortgages make up a high percentage of mortgage loan volume versus sub-prime products that seem to be going by the wayside. Garnering an approval for government lending on your own will usually take a ton of time, energy, and expense. By partnering with us, you are able to obtain your necessary lending licenses immediately. Most importantly, at Power Mortgage, we handle many administrative tasks such as payroll, compliance, accounting and more so that you can concentrate on honing your lending skills and bringing in more business!
- What is the initial investment required to open my own branch? The costs vary depending on your strategy and needs; however, they typically range from $500 to several thousand dollars. Just remember, a leading, trustworthy partner will not ask you for any upfront fees other than pass-through fees(e.g. HUD branch fee, etc.). If a company tells you that they want to assess charges for any kind of up-front fee to obtain a branch – run QUICKLY for the hills and consider someone else. Partner with a company that’s going to provide you with the efficiency benefits to save you money AND the brand recognition to make you money.
- How should I choose between the many branch opportunities that are out there? This is quite possibly one of the most important questions to ask. Our best advice is to ask as many questions as possible. Accordingly, a good mortgage branch partner will ask just as many questions about you. They should be screening you for quality just as much as you screen them. They should require background checks, references, and a minimum experience level. Another important aspect will be the level of support provided by your partner. Do they offer an experienced team of professionals at your service to help with problems and assist with marketing your branch? The last thing you wanna do is thrown to the wolves or hung out to dry when you're trying to build your business.
- What is most important in choosing a mortgage company for my branch? Be sure that the company you choose has a high level of expertise and provides sufficient systems for running your business such as accounting and support. Keep in mind, that these support systems should be scalable to that they are able to keep up with your needs as you grow. Next, be sure to ask about lending or restrictive limits. This could make or break your deal. If you are looking for a financially rewarding career with the benefits of flexibility and being your own boss, contact us today to learn more.