What's included in the per loan fee?

Another question to ask your potential Net Branch Provider is, “What support services do you provide as part of my per loan fee?”  As a Net Branch Manager, you need to determine how you and your team are going to spend their time most effectively.  If you believe that you are best at originating loans, then you need to keep your loan originators focused on getting more business.  You need to free them up from the time consuming administrative tasks and get them to spend more time with potential customers and referral sources.  Your Net Branch Provider should provide you the following support services as part of your per loan fee.

• Accounts Payable
• Accounts Receivable / Deposit Processing
• Financial Reporting (preparation of required financial reports)
• Human Resources
  • Employee Changes: new, terminated, updatesBenefit Servicing & Processing: changes to health care, dental, 401
  • Payroll Processing (all Net Branch Employees have to be W2)
• Help Desk
  • Investor liaison and support
  • Policy and Procedure questions
  • General questions

 

If these services are not included in your per loan fee and you don’t want to pay extra for these services, then look for another Net Branch Provider.

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