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How do I become an AMG Branch Manager?

Simply call our Director of Branch Development, Sean Clark, at 800-778-9004 and he can answer all of your questions. Because every AMG Branch represents the company we will ask you to complete the attached application to ensure we are the right fit.

How long does it take to get an AMG Branch up and running?

As soon as you complete an application it will be processed immediately and a decision will typically be made within 1 week. Upon approval, the AMG Branch will need to complete all necessary Department of Banking paperwork to ensure compliance.

Do you supply origination software?

Yes, for a small fee we will install our preferred software, Pipeline Solutions, on your network

How does the loan process work?

Every AMG Branch has the ability to bank/warehouse or broker loans.

- Banking/Warehousing - When a branch chooses to Bank a loan they will be responsible for originating and processing the loan. Upon completion of processing the loan, the branch will then submit the loan package to AMG Corporate office for underwriting. When underwriting is completed, the branch will receive an underwriting decision with underwriting and closing conditions, if applicable. When all conditions are met the loan will be given a clear to close. The branch can then schedule the closing and the company’s closing department will send closing documents to the closing agent and wire funds.

- Brokering - The branch is responsible for all aspects of the loan file. After closing we will collect the loan file, ensure all necessary documents are enclosed and archive the file.

What if I do not have a processor?

We will process your loans for a fee per loan or you can utilize 3^rd party contract processing.

What is the commission structure?

A flat fee is taken off the top of the commission of every loan regardless if it is closed as a Banker or Broker. The flat fee is reduced on 2nd mortgages.

Why would I want to “Bank” a loan?

When a loan is closed in Advisors Mortgage Group, LLC name the yield spread is not disclosed on the HUD-1 settlement statement which allows you earn the maximum that each respective state allows on the front of the loan. For example, in New Jersey, mortgage Brokers are capped at 3.5% in total compensation. As a Banker on that very same loan in NJ you can make up to 4% on the back of the loan which is not disclosed on the HUD-1 settlement statement allowing you to charge up to 3.5% in total fees on the front for a total gross compensation of 7.5%. This could ultimately double your income!

How are commissions distributed?

Commissions are distributed every Friday. If a loan disburses during week 1, commissions will be distributed the Friday of week 2.

What are my responsibilities as a branch manager?

As a branch manager you will be responsible for all aspects of your respective branch’s operations including, but not limited to the hiring of employees, managing cash flow, advertising decisions, pay structure and first level compliance review.

Who does compliance?

The Branch manager is responsible to do a first level review of all files to ensure no fraud is being committed and that the files have all necessary documents. A second level review will be completed by our post-closing audit department prior to archiving.

Can I view my designated bank account?

Yes, you can log in with your own username and password to view your account real-time on the internet.

What other resources does AMG offer?

§Secondary Marketing Support
§IT Support
§Full Benefits: Medical, Dental and 401K.
§Continued Education at Bi-Weekly Sales Meeting via Video Conferencing
§Marketing Support
§Human Resources
§Accounting
§Compliance
§Auditing
§State Licensing Assistance
§Archiving