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WestStar Mortgage, Inc.
WestStar Website
Mortgage BANK out of Virginia
Dear Prospective Branch Managers & Brokers,
WestStar wishes to express our deepest sympathy concerning the unfortunate situations happening to many in the industry. Over this past year we have seen many good mortgage companies, and some bad, go out of business. Each time some or many of those branches find their way to our company. Premier, Family First, Maverick and now Global; as well as other branching organizations still in existence, but with ailing situations or just time for a change.
Brokers: become an FHA, VA, RD and FHA Reverse lender!
We at WestStar desire to help you in your decision to find a new home. We have been a safe haven for dozens of branch managers like yourself and seek to make your transition as smooth as possible for you, your team and your customers.
We are a progressive mortgage bank with a branching platform that incorporates many of the wonderful aspects of `net branching`.
Perks:
100% Payout (YSP, SRP, Discount, Origination, etc.)
$695/mo branch fee ( NO per file fee or other junk fees!) We make our money selling paper as a lender on the secondary market.
In business since 2000, and growing steadily and successfully ever since
Direct Lender - True Banking Platform
NOT Just a Net Branch
NOT Just a Correspondent Lender
NOT a Glorified Broker
We`re a mortgage bank...
Become a retail bank mortgage branch
34 States: 27 Licensed States; with 7 States Pending .
Licensed: AL, AR, CO, CT, DE, DC, FL, GA, IN, IA, KY, MD, MA, MN, MO, NC, NM, OH, OK, PA, RI, SC, TN, TX, VA, WV, WI. (exempt in 12)
Pending: IL, KS, LA, MI, MS, NH, NB
Actively looking to acquire a 50 state federal charter (which will provide nationwide licensing exemption)
Process your own files, OR have us do it for you at $395
FHA Full Eagle Lender
Competitive pricing
Become a RETAIL Lending Bank Branch
Use your own LOS software and systems
Run DU/LP directly, not through a storefront
PreTax Expense Reimbursement for valid expenses
Benefits available: 401k, Health, etc.
FHA, VA, RD, Conforming, Manufactured Housing, Construction, Agency, Alt-A, Non-Conforming, Sub-Prime, SISA, SIVA, HELOC`s, Jumbo, Super Jumbo and other niche products.
Bank 98% of your deals!
Broker the other 2%
Best of Net Branching, without being a Net Branch
Best of being a Broker, but now as a Retail Mortgage Banker
Common sense underwriting closes more deals - last branch recruited got 2 out of their last 4 DECLINED loans (from their previous company) APPROVED at WestStar!
Premier, Family First & Maverick Residential branches have found WestStar to be their safe haven, transfering to our platform!
No Minimum Requirements
As the Big Banks and Governmental regulation and laws continue to put Brokers and Wholesale Correspondent Lenders out of business or make it harder to do business, and push for retail paper over wholesale; we`re left with only a few choices:
-Either find a new field of work...
-Go to work for a bank...
-Buy a bank...
-Become an expensive, uncompetetive FHA broker...
-OR, join the right mortgage banking platform!
Regulation to end Net Branching is continual. HUD and the FED close and refute net branching companies almost daily. The Implodometer is a good indicator that net branching, while a good idea, is on it`s way out, while only the retail banks are the ones that will remain standing.
Join WestStar Today!
Call J. Burr directly at 704-248-6913. Serious inquiries only. Producing branches and branch managers and successful loan officers looking to start their own branch.
Thank you, good luck to us all in this uncertain market! |
