1. Are there any up front fees required to become a Branch Partner?
No. As a Branch Partner you would be conducting business as an employee of Primary Residential Mortgage Inc. There are no set-up or franchise fees that are required from you.
2. How long has PRMI been in the mortgage business?
We've been in business since 1998. Our growth has been steady, and for the last several years, explosive. When we talk about our funding volumes, we use the billions word.
3. Is PRMI a Mortgage Banker or a Mortgage Broker?
Both. Primary Residential Mortgage is a full service, correspondent mortgage lender. We underwrite, fund, sell and service our own mortgage products. As a correspondent mortgage lender, our branch partners are given true correspondent pricing,and share in the service release premiums and incentive pricing. We have also established solid wholesale relationships with the nation's top lenders.
4. What are your warehouse funding strengths?
Our capital strength, and volumes, gives us access to top investors across the nation. We have huge warehouse-lines and we've never run out of funding money. The company is debt-free. Warehouse capacity is close to a billion, this will assure you that you will never have to wait for loans to be purchased before yours is funded.
5. What types of Loan Programs does PRMI offer?
There is not a generic formula of loan product we don't offer.We hunt daily for innovative products. For more than 10 years, PRMI has held a Non-Supervised Full Eagle status as a HUD/FHA Direct Endorsement lender.
6. Which states are you licensed in?
PRMI is licensed in the following states:
| Alabama |
Illinois |
Missouri |
Rhode Island |
| Alaska |
Indiana |
Montana |
South Carolina |
| Arizona |
Iowa |
Nebraska |
South Dakota |
| Arkansas |
Kansas |
Nevada |
Tennessee |
| California |
Kentucky |
New Hampshire |
Texas |
| Colorado |
Louisiana |
New Mexico |
Utah |
| Connecticut |
Maine |
North Carolina |
Vermont |
| Delaware |
Maryland |
North Dakota |
Virginia |
| Florida |
Massachusetts |
Ohio |
Washington |
| Georgia |
Michigan |
Oklahoma |
Wisconsin |
| Hawaii |
Minnesota |
Oregon |
Wyoming |
| Idaho |
Mississippi |
Pennsylvania |
|
7.What is your commitment to technology?
When you look at our product capabilities, infrastructure, and technologies, we're as big as your biggest competitor. It's taken us 10 years, and multi-millions of invested dollars to get here.
The functionality and strength of a national-platform mortgage lender becomes yours when you become a Branch Partner. And with this comes our firm strategic commitment to be on the leading-edge of industry technological evolutions. We're widely recognized for it now, and continue to expand nearly daily.
8. Do I have access to all of the automated underwriting engines?
Yes. If a secondary-market or Investor offers an AUS, you get it.
9. Can I underwrite loans out of my office?
Once qualified, you can earn the powerful delegated underwriting authorities vested in the company.
10. What does PRMI look for in a potential Mortgage Branch Partner?
We are selective. Our results have come because of outstanding people. We consider your experience, production histories, and goals. We want you to be as driven as we are to excel. PRMI seeks professional mortgage originators with more than three years experience with a consistent monthly volume of more than three million. In addition, we only partner with those who are compliant with all laws and regulations. |