One of these relationships has to do with the processing of mortgage loans, however because of the additional disclosure and compliance requirements that mortgage loans entail, we are unable to sponsor you directly into the Virtual Branch until you've received adequate training.
So as an additional bonus, provided we have training availability in your state of residence, PFA Registered Brokers can receive access into the Virtual Branch Pilot Training Program where they are taught exactly what it takes to get both residential and commercial mortgage loans processed and funded.
Due to staffing limitations we only have the ability to train two New Broker/Bankers/State every three to four months - In order to determine whether or not you can receive this additional training you would need to phone into our offices for a brief interview at which time you could also get all of your questions answered as well.
New PFA Registered Brokers Receive Complete Training, Ongoing Support AND Access to Dozens
of Asset Based N0N-M0RTGAG E Financing Programs as well - Go to: http://www.pfa.com for Details OR Click On:
PFA is Turning Mortgage Brokers Into Bankers!
Warehouse Lines of Credit NOW Available for Mortgage Loan Purchasing
PFA is proud to introduce our New Warehouse Line of Credit Program for established Mortgage Brokers & Mortgage Shops.
And we are seeking to turn PFA Registered Brokers who are willing to be trained to provide these services into Mortgage Banking Associates. Current plans are limiting participation to one Associate/State, with CA, NY, NJ, FL & OH at 2/state.
We Need YOU to Help to Market These Services!
PFA now has the ability to act as a Capital Markets Firm, NOT a Lender, Broker, Bank or Servicer. We are seeking to acquire loans for the sole purpose of securitization and bundling into the secondary market by providing existing mortgage brokering firms with their own Warehouse Line of Credit. We do not approach the loans we are looking to purchase as a credit decision. A DU Approve/Eligible provided by the firm originating the loan is all that's needed! No Internal Guidelines or Overlays!
We will extend an unsecured line of credit to these firms to purchase loans that meet basic eligibility requirements by FHA, VA, or USDA, Jumbo or Fannie Mae and Freddie Mac Products. These are not "Table Funded", rather you will now be able to provide the ability to these firms to be able to close loans in THEIR NAME as a Mortgage Banker rather than a Mortgage Broker. At present, there are no current minimum net-worth requirements for you or the firms you'll be contacting to be approved. If they are already doing business, we can dramatically increase the amount received per funded loan transaction, providing far better rates at a lower cost without having to disclose any of the back end yield spread premium charges to the borrower.
And since you are not the one originating these loans, there are no licensing or bonding requirements what-so-ever!
PFA Mortgage Banking Associates can receive between 10 - 25 basis points (depending on volume) on each loan closed and funded on the line being extended. Even at 10 basis points, that means you can receive a minimum of $1,000 on each $1 Million being funded every month. An average mortgage firm can easily close anywhere between $1 Million to $10 Million or more EACH MONTH! Which means you can be receiving between $1,000 - $25,000 in residual income EVERY MONTH as long as they are utilizing their credit line - and that's just from ONE MORTGAGE HOUSE!!
They're Currently Doing Business...
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