Is there any Set-up Fees or deposits required?
No, there are no upfront fees or deposits required from any of our branch partners. We would prefer to see a reserve of at least 2 months of operating expenses in your bank account.
What is NFM’s Warehouse Line capacity?
NFM is a debt free company and is in good standing with all our investors. Our current warehouse lines dedicated to our branch partners is in excess of 80 Million annually.
What are the programs that NFM offers?
NFM is a direct lender on Conventional, Jumbo, FHA (Full Eagle), VA, USDA & Reverse Mortgages.
What states is NFM Licensed in?
NFM is licensed in the following states:
Alabama, California, Connecticut, Delaware, District Of Columbia, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Massachusetts, Minnesota, New Hampshire, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia & West Virginia.
Do the branches have access to Underwriters?
One of the many benefits that our branches enjoy is direct access to underwriters. We have an open door policy and promote a proactive approach to underwriting. As a NFM Branch partner you will not have to deal with various lenders and turn times and worry about getting a return call. We get the loans closed and fast!
Will I have access to AUS?
Yes, once your branch is approved, our IT Department will get you set up for access to our highly specialized Encompass Lender LOS. You will also be able to pull credit thru our vendors at no charge.
How ofter is Payroll? And when can invoices be submitted?
Payroll is done bi-weekly. Loans funded by the 15th will be paid on the 30th and loans funded by the 30th will be paid on the 15th. Payment request for invoices can be submitted every Tuesday and Thursday.
What does NFM charge per Loan?
NFM charges an In-House Underwriting fee of $595.00 and an In-House Administrative fee up to $375.00 per loan.
What is NFM's loan officer comp plan? How to Branch partners get paid?
In order to be complaint with the recent changes, all transactions are executed as lender paid. You have the ability as the Branch Manager to set the LO Comp Plans for your team.
What are the requirements for becoming an NFM Branch?
NFM requires a minimum of 3 years experience with an average branch production of 3 million plus. All branch partners and loan officers are subject to background screening and meeting licensing requirements. As a part of our decision making process we also evaluate your future potential as a Branch and will work closely with you to help achieve your goals.
