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Q: What do I need to open my own mortgage branch?
A: If you are an experienced mortgage broker, branch manager, loan processor or underwriter-- and you are looking to make more money - this is the perfect opportunity to do so! You hire your own employees and set up their pay schedule. We provide you with Approved Lenders, Mortgage Software,
E & O insurance, No net capital requirements, Quality Control, Free Accounting, Payroll processing, Ability to lend out of state, Corporate handles audits, and Mortgage Compliance Support for a minimal fee.
1. We require at least 2 years in the mortgage industry.
2. A positive background check with business references.
3. $200.00 startup fee along with your initial administration fee.
4. A commercial office space or home (state specific) to work out of.
5. Be able to follow Corporate and State regulated rules
Q: How long does it take to be approved with AHL Corp.?
A: You can be approved in as little as 24 hours. You can apply right on our website under online application. The Corporate setup fee is $200.00.
Q: What are the two programs you offer?
A: We offer three programs for branch managers. See Branch Programs for details.
Q: Who pays for the office space and equipment?
A: The branch manager is responsible for the office space and all office equipment.
Q: Who's name is the bank account in and how do bills get paid?
A: Your branch will be set up with a bank account that is in AHL's name and our accounting department takes care of all the bills. All monies left over in the account after office related expenses are paid belong to the branch manager. All you do, is fax over your bills and Accounting takes care of them and sends you a statement each time a transaction takes place.
Q: What mortgage processing software do you provide?
A: We provide you with one disk of Calyx Point. You can purchase additional seats for $100/each.
Q: How often can I receive payroll and can I be 1099?
A: Payroll can be processed either weekly or bi-weekly and you have the option of direct deposit. State specific can be 1099. Once compliance is cleared on a loan file, you can submit to payroll for that week or the week following.
Q: Can I be paid in a company name?
A: No, unfortunatly you must be paid in your name.
Q: What are the costs for myself to hire employees?
A: For each employee hired, you are required to pay a $24.95 background check fee to the corporate office. Also for any w-2 employee, you are required to pay between11.8% and 13% (state specific) payroll tax and fees on the gross pay. The breakdown is on the branch programs section under detailed expenses.
Q: Can I pay employees what I choose?
A: Yes! You are in charge of setting up the pay schedules for your office employees. They will sign a contractual agreement with AHL Corp.
Q: What states are you licensed in? And can I originate out of state loans?
A: We are currently licensed in 5 states. Before originating out of state loans you must contact the corporate office to see what the requirements are. If you decide to get a branch office license for additional states with no actual office there, there is only a charge for your renewal fees. If you open additional offices, you will be subject to another contractual agreement and applicable fees.
Q: Are you FHA, VA approved?
A: We are both FHA and VA approved.
Q: What are the requirements to be hired as a branch manager for AHL Corp?
A: 1. We require at least 2 years in the mortgage industry.
2. A positive background check with business references.
3. $200.00 startup fee along with your initial administration fee.
4. A commercial office space or home (state specific) to work out of.
5. Be able to follow Corporate, Federal and State regulated rules.
Q: How do I know what your procedures are and what lenders I can use?
A: After you are approved, you will get a detailed branch manual to guide you in the right direction.
Q: What credit reporting company does AHL Corp use?
A: We currently use First American Credco and Advantage Credit. They are able to offer corporate discounts to us on credit reports.
Q: Where do mortgage leads come from? A: We provide mortgage leads from our website www.Ahlcorp.net. You can also purchase mortgage leads from some of our preferred companies. You will be in charge of Advertising and generating the bulk of your leads. Q: Can I get reimbursed tax-free for office related expenses I paid for?
A: Yes. As long as you have cancelled checks and invoices to prove you paid for the office related expenses.
Q: Are there any hidden charges?
A: No- You are responsible for all branch related expenses and the detailed list is on the branch programs page under detailed expenses.
Q:Are you a banker or broker?
A: We are a banker/broker - see license page for individual states.
Q: Can I form a DBA?
A: No, AHL Corp. does not allow DBA's
Q: Do I have to have a physical office location?
A: Not always. AHL Corp. does not have a problem with it but it depends on the state requirements. Call for more information. Q: Can I process my own loans?
A: Yes. We like for branches to set up for processing in their office. If you don't have a processor we also have one in-house that will process loans.
Q: Do I have to be licensed as a loan originator?
A: State Specific Requirements.
Q: Do I get a specific email address assigned to me?
A: You can have a specified email address with ahlcorp.net if you would like.
Q: How are communications delivered?
A: We deliveer communications to branch managers via email or our employee website www.ahlemployees.com.
Q: Can I sign up with additional lenders?
A: No. You must email AHL Corp. the lender you are interested in doing business with and a corporate officer will fill out all required documents to be approved with them. Q: Can I switch programs anytime?
A: You can only switch after one year on your original program. Q; If I terminate employment with AHL Corp., how soon after can I receive the remaining funds in the operating account?
A: AHL Corp. holds the funds for 90 days to make sure all branch related expenses are satisfied then you will receive the last disbursement.
Q: Can I get incentives for referring a branch to you?
A: Yes! We offer marketing incentives to you for your branch referrals. Details in Branch Manual. Q: Can I sign a lease or contract for AHL Corp?
A: No, All leases must be in the branch manager's name and all contracts for lenders must be forwarded to the corporate office. The President of AHL is the only one who can sign contracts with lenders. All bills, leases, etc. must be in Branch Manager's name.
Q: Are there any additional costs to operating a branch besides the program fees?
A: Yes, The detailed expenses are listed below:
Branch License Start up and Renewals= State Specific Fees on State Specific Dates.
Compliance Fee $25.00 Each closed loan.
Business General Liability Insurance $200-$600 Yearly.
Employee Background Checks $24.95 Per Hired Employee (any w-2 employee).
Calyx Point $100 Per Seat and $25 per disk, $15 per manual.
Doc Storage and Three Year Followup $99 Per Loan – You can charge to the borrower.
Other expenses branch pays for w2 employees:
Between 11.8% and 14% payroll taxes and fees. Breakdown includes: 7.65%. Social Security and Medicare, 4.15-6.35%=Futa, Suta, Workmans Compensation, E and O insurance, State Taxes and Payroll Fees.
Also any postage used in connection with the branch.
If you use a license out of state there is a $495 fee to corporate or you can apply for a branch office license and pay $0 per loan file.
VA- $6.60 per loan file to the state is taken out of your operating account.
****Branch is Responsible for all matching taxes****
Q: If I deposit money in my operating account, can I take it out at anytime tax-free?
A: Yes. Any money you deposit into the operating account not from loan proceeds that belongs to you can be issued to you in a check tax-free at anytime
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