Welcome to Augusta Financial 

Lending_ParametersStreamline production in 2011!

As an Augusta Financial Branch Affiliate

  • Top compensation model

  • No application fees, no monthly fees

  • We are a Mortgage Banker - Direct Lender - We Fund Our Own Loans

  • Yield Spread Premiums (YSP) disclosure not required on banked loans

  • In-house Processing, Underwriting, Closing & Funding on the Premises

  • Fast Closings.  2 - 3 weeks.  Rushes Available

  • Conventional Fannie Mae/Freddie Mac & FHA/VA

  • State-of-the-Art Automated Underwriting Systems

  • Full Accounting, Compliance, Licensing & Payroll systems

  • Experienced, Tenured Staff and Team Environment  

 

Opening a Branch Office vs. Continuing as an Independent Broker:

Are you a Mortgage Broker or individual Loan Officer considering opening a “Branch Partnership” of a larger mortgage banking institution?

Are you a Broker considering your own warehouse line of credit to expand your brokerage into mortgage banking?

There are many advantages of the Mortgage Banking and “Branch Partnership” arrangement with Augusta Financial...  like TURN-KEY solutions.

With RESPA reform and field compliance issues burgeoning, the flight to the “banking” side of the industry is accelerating.   Many smaller brokerages simply don't have the capital reserves, experience, requisite time or cash flow to establish their own “Warehouse Lines” and extend their own capital.

The very act of hiring Underwriters, Funders, Closers, Compliance Officers and Secondary Market experts is rigorous, expensive and very time consuming. Indeed, smaller brokerages have attempted the conversion to their own detriment. By spending countless hours developing a mortgage banking capability, they've taken their eyes off of origination and severely impacted their incomes! 

The Augusta Financial “Branch Partnership / Branch Affiliate” model offers a convincing set of advantages for the independent mortgage broker.  One's decision with respect to becoming a branch partner is highly personal and individualized.  It can be a great move and an easy transition for the right candidate.
 

Advantages of the Augusta Financial Branch Partnership model:

 

Smooth Transition:

Virtually overnight, a smaller brokerage can level the playing field with larger banks and institutions. It's a “Turn-key” solution. The loan officer or broker can continue as an entrepreneur while also gaining the firepower of the larger mortgage bank without the bureaucracy. The best of both worlds!

California based:

With 20 years in the business in the California market, our focus is on our local market.  We understand and focus on the dynamics that make our market thrive.  We are also able to provide multi-state funding through broker services as well.  Augusta’s President/CEO knows the California market, and is a consistent top 10 producer in California, and top 25 nationwide for the past five years.  In addition, our tenured staff knows the California market.

100% Commissions:

Many experienced Loan Officers in brokerages, banks and credit unions are only earning 35% to 75% of their originated yields.  The Branch Partnership offers 100% of both the origination fees as well as yield spread premiums. On volume, the difference in income can be dramatic.  The branch will have control of pricing and LO commission splits as well.

Compliance:

Increasingly, mortgage brokers express that they're sleeping uneasily due to compliance pressures and dreads.  Augusta Financial has compliance experts on staff to insure that the file flows are compliant and quality assured, and that individual loan officers and Branch licenses are current and maintained. Further, they insure that all advertising pieces are compliant in terms of Equal Housing, APR's, Licensing and State disclosures.

Non-disclosure of Yield Spread Premiums:

Not having to disclose YSP's is a major advantage of mortgage banking.

Direct Lender Status:

Everyone likes to deal with a direct lender. This is certainly true of both the borrowers and the mortgage broker's referral partners. It's simply more prestigious than brokering.  Augusta Financial extends it’s own capital to provide quicker and smoother funding.

Broad Product Offerings:

In our changing market, Augusta Financial is able to provide a wide variety of Conventional, FHA, and VA loan programs.

Automated Underwriting:

Augusta Financial utilizes automated underwriting engines, which greatly streamlines the loan origination process.

Speed:   

Augusta Financial processes, underwrites, closes, and funds loans right under our own roof at our home office in Santa Clarita, CA.  Our streamlined process cuts days out of the loan process.  Rush closes are available in certain circumstances.

Accounting & Support Services:

Many brokers who become branch affiliates are delighted that their mortgage banking provider's accounting departments are taking the back office load off of them. Under HUD regulations, the corporate office of the branch provider is required to pay the branch expenses and maintain office leases. This frees up time for the branch partners to do what they do best…originate.

Technology Platform:  

We offer "virtual office" capabilities to the branch. Loans can be registered and locked online, conditions can be cleared, and pipelines monitored 24/7.