|
How long does it take to get my branch up and running?
Once you have completed the
Affiliate Branch application and the other required documents your paperwork
and background search will be completed in 7 to 10 days.
What are the charges to the branch?
Transcontinental’s Affiliate
Branch Program is one of the most cost effective programs in the industry.
Branch Fees range from a high of $395 to a low of $75 per transaction. In
addition to the low branch fee, your branch will pay a small additional profit
sharing fee if you accept loan officer recruits sent to your branch by TLG’s recruiting department or loan officers that
specialize in recruiting loan officers into our organization.
How do I get paid?
All employees of the company
are paid by W2 on Thursday of each week. Direct Deposit is available.
How is the profit of the branch
calculated?
Each Transcontinental
Affiliate Branch is a separate profit center set up exclusively for each
affiliate branch. All income from each closing (origination fee, discount
points, par plus pricing, processing fees, etc. is placed in the profit center
checking account of the affiliate branch.. All expenses related to the branch,
including but not limited too, rent, electric, copy machine, computers,
supplies, processing expenses, payroll, state and federal payroll taxes,
workman’s compensation, TLG administrative fee, profit sharing fee, etc
are deducted from each closed transaction to determine the net
profit on each closed loan. All profit centers are required to maintain a
minimum balance in the profit center account of $1,000.
Are there any monthly volume quotas for a TLG
Affiliate Branch?
Yes, TLG is interested in
setting up affiliate branches that close a minimum of 3 or more closings each
month. We are simply not interested in joining forces with branches that close
fewer loans each month than the above minimum quota. This minimum quota of
three closings a month helps TLG Corporate provide a higher level of service to
fewer branches, while still maintaining our goals of becoming one of the
country’s largest volume affiliate branch organization.
There is a 90 day ramp up period for all new branches
to get to three closings a month. After the first 90 days, if a branch fails to
close three loans a month the following schedule of fees will apply:
1 closing a month - affiliate branch fee per
transaction
$595.00
2 closings a month – affiliate branch fee per
transaction
$495.00
Who is responsible for hiring branch employees?
All employees of the branch
may be hired by the branch manager. After an individual is hired by the branch
our Human Resource Department will do a background check on all new employees.
Is processing available at the corporate office?
TLG Corporate has developed
a large team of experienced and professional processors which work out of the
corporate office and regional centers. In addition, TLG has an extensive list
of approved contract processors ready to serve our affiliate branches.
What are the main reasons why an experienced loan
office would Join Transcontinental Lending Group?
Transcontinental offers the
industries very best new loan officer training program, a proven turnkey lead
generation system, management overrides, residual profit sharing bonuses,
250 lenders, full time recruiting staff, on line accounting, fast efficient
processing, low branch fees, health benefits, independence, an experienced and
professional management team, aggressive internet, telemarketing, mall shows,
radio and newspaper advertising and much more!
Transcontinental’s turn-key system is the perfect vehicle for Entrepreneurial-
Minded people. At Transcontinental you are now in business for yourself, but
not by yourself. For the right person this is the greatest opportunity in the
world”
|
