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Frequently
Asked Questions:
NexTier strives to enforce some of the highest
standards in the industry and is looking for slow and steady mortgage
origination growth with positive additions to our team! We have
answered some frequently asked questions to tell you a little about
our company. This should help determine whether we
meet your needs as much as you will fit NexTier’s.
Why Become A Net Branch
Affiliate?
What States Are
Available for My Office Originate Loans In?
What Kind Of
Experience/Production Do I Need?
Will I Be Charged Any
Fees To Start A Branch Office?
What Fee Will I Be
Charged?
How Will I Be
Compensated For Mortgages Originated At My Branch?
What Benefits Are
Available To Employees?
What Type Of Mortgage Loans Am I Able To Originate?
Will I Be Able To Operate With My Own
Name Under A DBA?
Will I Receive Direct
Lender Pricing?
Does NexTier Provide
Prospect Leads?
How Do I Get Started?
Why Become A Net Branch
Affiliate? 
Being with a National bank allows you to broker loans nationally.
Managing your own Loan Production Office (LPO) enables you to multiply
your business model and increase your profits. It gives the “True
Entrepreneur” the ability to grow and take advantage of their
potential. This means more opportunity for success and, in turn, more
opportunity for profit.
What States Are
Available for My Office Originate Loans In?
As a LPO of NexTier, you are able to do business in all
50 states hassle-free. As a National bank we are exempt from
all state licenses; allowing you, the broker, to conduct business
freely without the ever changing state-to-state licensing red tape.
What Kind Of
Experience/Production Do I Need?
NexTier requires a minimum of 5 years experience
in the loan origination business; any less will be examined and
considered case-by-case. NexTier would also like to see a minimum
volume of 5 units or $700,000 in closed loan volume per month;
any less will be examined and considered case-by-case.
Will I Be Charged Any
Fees To Start A Branch Office?
NexTier requires that you
put forth a minimum of 2 months reserves
into your P&L account; for any anticipated operating expenses that
would be incurred by your branch (i.e. personnel, rent, utilities,
credit reports, etc.). We will require a budget be submitted outlining
an average 2 month time period.
What Fee Will I Be
Charged?
NexTier will take 50 bps (.5%) off of every loan
that is brokered through our bank. There will not be any volume
discounts offered; due to the fact that this a fair price for the service and credibility
of our program.
How Will I Be
Compensated For Mortgages Originated At My Branch?
NexTier employees will be
compensated every 2 weeks through standard payroll. Based on
the profits; at the discretion of you, LPO managers.
What Benefits Are
Available To Employees?
NexTier employees have the ability to utilize available
health, dental, and supplemental insurance; 401k and flexible spending
are additionally offered.
What
Type Of Mortgage Loans Am I Able To Originate?
NexTier offers the following loans for origination:
Residential 1st and 2nd Mortgages, Prime &
Sub-Prime credit profiles, Reverse Mortgages, Jumbo, Alt-A, HELOCs,
and Construction loan products. Currently, NexTier does offer FHA
and VA to QUALIFIED individuals and branched.
Will I Be Able To Operate With My Own
Name Under A DBA?
Currently, we would prefer that you take the NexTier name, but we
would entertain the possibility of your branch operating under a DBA.
Will I Receive Direct
Lender Pricing?
NexTier operations is a purely broker relationship with
approximately 25 lenders in our network. Our model enables our
loans officers to shop around for the lowest rates that they can find.
We feel that this permits you, the branch, to offer the best services
possible. Additional lenders you request can be added on a
case-by-case basis.
Does NexTier Provide
Prospect Leads?
NexTier does not offer any marketing support. Your
branch will be in-charge of generating your own prospect leads.
How Do I Get Started?
Initially, we will schedule a teleconference with you
to determine if there is a “good fit”; give your information in
the “Net Branch
/ Employee Form”
below. We believe strongly that a
good foundation is the beginning to a long lasting business
relationship. Next, you will need to complete NexTier’s application
process. You may also use this form to ask any questions or request
updates on NexTier Bank’s net branching opportunities.
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