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REQUIREMENTS
PRODUCTS
SERVICES PROVIDED
OPTIONS
The branch opportunities matrix includes the programs,
products, benefits and requirements that mortgage
bankers offer and are looking for in new recruits for
their branch operations.
1 Minimum annual
volume ($M)
5 FHA/VA
12 Benefits
20 Ability to broker out
6 FHA 203(k) rehab program
7 USDA
13 Accounting
21 Out-of-state referrals
2 Minimum months
deposits required
14 IT
22 In-house processing
8 Reverse
15 Marketing
23 In-house underwriting
3 Minimum months
experience required
4 Net worth required ($K)
9 Jumbo nonconforming
10 Manufactured homes
16 Leads provided
24 Exclusive territories
17 Sales training
25 Virtual loan officer
26 Jobs at existing branches
11 Commercial
18 Compliance/licensing
19 Pricing engine
27 Allows doing-business-as (DBA)
28 Satellite branches allowed
1 2 3 4 5 6 7 8 9 10 11 COMPANYNAME
12 13 14 15 16 17 18 19
20 21 22 23 24 25 26 27 28
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NOVA Home Loans
520-202-5231
www.novahomeloans.com
0 0 0 0 YYYYYYYYYYY
YYYYYYY
Y
CONTAC T: Lance Dickson, Lance.Dickson@novahomeloans.com
AZ CO NV
NOVA also offers an escrow-holdback program, credit-services department and comprehensive marketing resources.
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Open Mortgage
559-892-0930
www.JoinOpenMortgage.com
CONTAC T: Phil Risch, PhilRisch@openmtg.com
6 1240 Y Y Y YY Y Y Y Y Y Y
AL AR CA CO FL GA IL IN KS LA MI MN MO MS NC NE NM OK SC TN TX WI WY
YYYYYYY
YYYY
Reverse-mortgage bankers
Sierra Pacific Mortgage
800-447-3386
www.sierrapacificmortgage.com
branch@spm1.com
12000Y
Y
Y
YYYY
YYYYYYY
YYYY
NATIONWIDE
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Stearns Retail Branching
877-850-8292
www.stearnsbranching.com
CONTAC T: Jeremy DeRosa, jderosa@stearns.com
182240 Y Y Y YY Y Y Y Y Y Y
YYYYYYY
YYYY
NATIONWIDE except: AK HI MD MI MS ND NY
We can help you! We are seeking exceptional branch managers, team leaders and loan officers.
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Van Dyk Mortgage Corp.
888-482-6395
www.vandykmortgage.com
CONTAC T: Charlie Sundstrom, cs@vandykmortgage.com
0 1240 Y Y Y YY Y
YYYYYYYYYYYYYYYYY
NATIONWIDE except: AR HI IA KS ME MO MS MT ND NE NH NJ NY OK OR RI SD VT WI WV WY Van Dyk Mortgage Corp.isa privately held
residential mortgage banker since 1987 specializing in FHA/Conv/VA/USDA/Jumbo/Rev mortgage lending.
Tell lenders you found them in Scotsman Guide
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
Scotsman Guide makes every attempt to ensure the quality of matrix and directory information, which all listed lenders verify or update monthly. Because of the production cycle and dynamic nature of the industry, loan product
terms and availability may not reflect the latest changes. Please contact lenders directly for the most-recent program details. If you believe data is inaccurate or misrepresented, please e-mail: matrixfeedback@scotsmanguide.com.
requirements of a company’s quality-control examiners.
AMCs were originally intended to ensure an environment of non-influence
for the appraisal-ordering process. How
in-depth an AMC chooses to organize
its process is entirely up to the company
itself. Typically, however, there is a minimum administrative review of the appraisal before it’s delivered.
This function can be performed by
a computer program or a staff member, who may or may not be familiar
with the USPAP. That said, industry-best practices dictate that the individual performing a quality control
examination should, at minimum,
be a former certified appraiser or
underwriter and should have completed the current USPAP seven-hour
update course.
A higher-quality report means that
fewer conditions will come back from a
deal’s underwriters. Unfortunately, it’s
often the case that appraisals reviewed
for quality by a computer program are
prone to flaws. It’s important, therefore, to ask AMCs what they require of
their quality control examiners, as well
as how they guarantee that you’ll receive a quality report.
6. Review and rebuttal
A truly high-quality AMC will have a protocol in place that allows for rebuttals.
If an AMC does permit rebuttals, brokers
and originators should be sure that this
process is facilitated by a professional
who can communicate their concerns
and provide additional information to appraisers in a fair and unbiased manner.
Although the availability of a review-and-rebuttal process is ideal, this level
of service is not required in any sense,
thus it’s not offered by every AMC. There
are many reasons why an AMC may not
offer this service, but the most prevalent
reason simply may be a shortage of staff
members who are capable of fielding
the types of questions raised by direct-endorsement underwriters, who often
provide additional evidence to be used
for consideration in the appraisal.
The AMC that you choose should
have a team that’s capable of acting
as the liaison between you and the appraiser. This must be a person whom
you trust to present your information in
the event that it could alter the report.
AMCs that choose to build this process
into their list of available services are
businesses that often have a significant edge over competitors.
7. Customer support
Finally, brokers and originators should
carefully consider an AMC’s customer-support services. Asking yourself
several key questions can help you
evaluate the quality of an organization’s customer service. For instance:
• • What•is•the•response•time•to•my•
questions•regarding•an•order?
• • Is•the•customer-service•staff•knowl-
edgeable•and•helpful•in•finding•
solutions?
• • If•issues•with•an•appraisal•arise,•is•
there•a•swift•resolution?
• • Am•I•offered•an•opportunity•to•
leave•a•message, or•does•it•seem•as•
though•my•calls•are•lost•altogether?
Some AMCs have automated answer-
ing services that collect messages — all
while time ticks by. Other companies
may promise to return calls the same
day, while still others may not have a
specific standard response time.
Regardless, the AMCs that are industry leaders frequently offer personalized
customer support 12 hours per day, accommodating business on both coasts.
A quality customer-support staff often
can be an AMC’s best sales force, so a
company that hires accordingly will surpass expectations. Look for a team that
satisfies your needs for timely resolutions and also is willing to enlist anyone
in the company for assistance.
• • •
These seven areas are critical to an appraisal’s quality and the speed with
which it’s delivered. Brokers and originators must juggle a variety of tasks
each day, so it’s imperative that their
chosen AMC is facilitating the closing
process — not complicating it. Ultimately, the only person that your customers will recall when reflecting on
their experience is you. The support
that you receive, however, can make all
the difference in defining that image in
the eyes of the customer. •
Leah Phinney is director of new product
development for Class Appraisal Inc. and
was instrumental in the development of
the seven AMC core competencies. Class
Appraisal defines best practices using its
gradient to differentiate the seven service
levels that define the appraisal management
process. Named as a top performer by a
leading soft ware producer, Class Appraisal
has been recognized as the new standard
in appraisal management. Reach Phinney
at lphinney@classappraisals.com or (866)
333-8311 ext. 321.
