Thinking about becoming a New Branch?

Here are some answers to frequently asked questions to help you decide:


Q: Are we paid W-2 or 1099?
A: W-2. This is a requirement of HUD

Q: Is HTL a Banker or a Broker?
A: We are both.
Q: are Brokers still allowed to collect SRP/Rebates?
A: no.
Q: Is HTL a full or mini eagle FHA lender?
A: We are a Full FHA Eagle Lender.
Q: Will HTL allow DBA’s?
A: yes.
Q: What credit report companies are HTL approved with?
A: We are approved with many. However, the branch can use any company as long as the company is DU / LP approved.
Q: How long until we are up and running as a branch?
A: This all depends on the branch. Normal time after HTL receives a fully completed application should take 7 to 10 days.
Q: Does HTL charge an application fee?
A: no.
Q: Does HTL have a Operating Account Reserve requirement?
A: yes 2 months.
Q: What kind of production is expected of us per month?
A: While we understand that production is difficult to anticipate, we expect at least 3 loans per month over any 90 day period of time. This is what is expected during our probationary period.
Q: What appraisal companies are approved?
A: HTL does not have an "approved" list.
Q: Where does training take place?
A: Training will take place in the Roseville Office, Irvine Office or conference calls and web based training.
Q: Do we need E & O insurance?
A: No. All branches are covered under our umbrella at no cost to the branch.
Q: Is HTL approved in other States?
A: Yes
Q: What expenses are allowed to be paid in the P/L?
A: This is a fairly complicated accounting question. However, all normal branch or loan expenses will be included.
Q: Can HTL set me up with a personal website?
A: Yes
Q: Do I need an office to be a branch?
A: No. They can work out of home, with separate phone lines and secure office area.
Q: Can I broker loans?
A: Yes
Q: How often is payroll?
A: We pay on the 15th and the last day of the month.
Q: How are vendor bills paid?
A: All operating expenses MUST be paid by the company. Vendor bills are paid every other Friday. We will make payment if the invoice is received at the corporate office by the Tuesday of that week.
Q: If I get a dba and someday decide to leave, can I get my name back?
A: Yes
Q: Does HTL have benefits?
A: Yes

My questions are answered

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