Q. Where do most Southwest Funding Branch offices come from?
A. Southwest Funding Branch offices are operated by former mortgage brokers and top producing loan officers. Many of the offices are operated by branch managers who have been with former branch companies. We are continually contacted by unhappy and disgruntled individuals who are part of another branch organization.

Q. Is Southwest Funding HUD approved?
A. Yes. Southwest Funding is approved and in good standing with HUD.

Q. How many states can I originate loans in?
A. You can originate loans in any state Southwest Funding is licensed or authorized after obtaining the necessary branch or originator licensing if required. Currently, Southwest Funding is approved to do business in 16 states including California and Florida.

Q. Why would a mortgage professional considering joining Southwest Funding?
A. Independence: As a branch manager/operator you make the decisions as if it was your own company.
FHA: Originate government loans and submit them to the lender of your choice. Every office is HUD approved.
Products: You have access to every loan product available in the marketplace.
Support: Southwest Funding performs the accounting, HR, legal and payroll functions.
Service: In-house underwriting, closing and funding are available. None of these services are mandatory, but rather available for your convenience.
Technology: State of the art technology allowing you to access payroll, email and important information 24/7 from any computer with an internet connection.  Preview our intranet site www.connectsouthwest.com
Training: On going marketing, origination, processing, product and business development classes to keep you ahead in the marketplace.

Q. How is branch revenue accounted for?
A. The branch receives 100% of all origination, discount, YSP and fees charged. You set your own fees. Southwest Funding will only collect a small per file fee and in some instances a few basis points. You do not have to charge your borrower for the money received by Southwest Funding.

Q. How often is payroll?
A. Payroll is processed on the 5th and 20th of each month to ensure you get paid on your month end closings in a timely manner. Simply make sure Southwest Funding has received the title check by 5:00PM two business days before payday and your check will be ready less than 48 hours later.

Q. How is Southwest Funding compensated?
A. Southwest Funding charges a small per file fee, and in some instances a few basis points. These numbers are discussed in greater detail after an applicant has been pre-screened. This compensation covers our overhead costs including payroll, accounting, monthly audits for compliance, licensing, etc. We are able to keep our fees low because of the large amount of volume our branch offices produce. You can pay a per file fee as low as $250 for FHA, VA, Conventional and Jumbo loans!

Q. Does Southwest Funding help with my advertising and marketing costs?
A. Yes! Southwest Funding contributes to advertising and marketing campaigns for each branch office. The branch office determines which avenues work best for their market. Southwest Funding will contribute up to $10,000 per quarter to each branch office, based upon previous quarter's production.

Q. Do you provide leads?
A. The company maintains a partnership with one of the largest lead suppliers in the industry. Our private label lead site is available only to Southwest Funding agents providing real time leads at an unbeatable price.

Q. Are there production guidelines set for Southwest Funding offices?
A. We would like to see each branch office produce on average a minimum of 5 loans per month. In some cases we know this does not always happen. We will not terminate an office for having a few bad months; however, production levels below 5 loans per month do not create a profitable business arrangement for either party.

Q. Who determines office space, location, staffing decisions, compensation arrangements?
A. The branch manager makes all of these decisions. You will only be responsible for staffing your office according to your needs. All other functions are all handled by the corporate office and are not an expense of the branch office. Typically a branch office will employ a receptionist, a few processors and many good loan officers. If volume warrants, Southwest Funding will locate a DE underwriter in your office at our expense to facilitate the underwriting of your loans.

Q. What if I change my mind and decide this arrangement is not for me?
A. Both parties, Southwest Funding or the branch manger can terminate the arrangement with no hassle.

Q. Do I have to open a reserve account with Southwest Funding?
A. No. Any branch company wanting to hold your money must not trust you, therefore why would you enter into a business relationship with them? We return all branch proceeds on payday, Southwest Funding does not hold any money in a reserve account unless you specifically request we do so. It's your money so you keep it.

Q. How are branch expenses paid?
A. Southwest Funding must issue the check for your monthly rent, phone service and salaries/commissions. These expenses are deducted out of the branch profits with the remainder issued to the branch manager.

Q. How are loan officers compensated?
A. The branch manager determines the compensation arrangement with each loan officer at his/her branch office.

Q. How many lenders is Southwest Funding approved with?
A. Southwest Funding maintains approval with over 200 lenders and is continually getting approved with new lenders. We will get approved with any lender you want to do business with at NO expense to the branch office.

Q. Do I have to disclose YSP?
A. No. Southwest Funding operates its own wholesale lending company, Overland Mortgage which provides you with in house underwriting, closing, funding, aggressive pricing/products and excellent service. Southwest Funding also has the ability to close and fund with many big lenders such as IndyMac Bank and MortgageIT which eliminates the need to disclose YSP.

Q. Do I have to submit all of my loans to the in house company?
A. No. You originate the loan and submit the loan to the lender of your choice the first time and every time, including government loans. There is no need to submit the loan to the corporate office if you are brokering the loan.

Q. How long does it take to get approved as a new branch office?
A. Upon completion of the application package, Southwest Funding will need approximately 5-7 business days to process the package for approval. Once approved, you are ready to start the same day.

Q. I have loans in my pipeline with my former company. How do I handle these?
A. Depending upon your agreement with your former employer, it is usually required you close the loan with your former employer. Any new applications taken after your approval date will be closed under your branch office. The borrower may also sign a transfer letter requesting the file be transferred to your new branch office.  You must provide your current employer with a written resignation notice and fulfill all obligations under your current contract prior to engaging employment with Southwest Funding.

Q. How do I get started?
A. Contact a branch developer at (877) 878-8989 or info@southwestfunding.com to obtain an application package. There is NO APPLICATION FEE!