Frequently Asked Questions

Who is Pacific Northwest Mortgage Corporation?

Pacific Northwest Mortgage Corporation is a Mortgage Banker/Lender. Our corporate headquarters are in Santa Clara, California. We have staff of people who are experienced in the mortgage industry.

Why would I consider joining Pacific Northwest Mortgage Corporation?

• Independence: As a Branch Manager you treat Branch as your own company.
• Employee: You will be able to hire Loan Agents who work for you and have profit split
• Product: you will have access to all FNMA, FHLMC, HUD and Sub Prime Lending
• States: We lend in the states of California, Nevada, Georgia, Virginia, Florida, Utah and Illinois. We can increase the number of states by request of the Branch Manager.
• Support: We perform for you the accounting, HR, Payroll and legal
• Benefits: Health, Dental, Life insurance, 401-K available for you, your family and branch employees.
• Training: We'll provide training if necessary for you and your employees. Support at any programs and products.
• 800-number caller tracking: Phone capture system that that allows the branch to track who called their 800 number don't miss any leads.
• No Investment: You can start work from you home and own computer.

What capital contribution is required of the branch manager?

None if you start your business out of your house. For Manager who wants to lease a space or office, a reserve of 2 months plus first and last month rent is required in order for Pacific Northwest Mortgage Corporation to pay your bills in first two month. After month 2 your revenue should be sufficient to cover the required overhead costs.

How is the branch profit accounted for?

The branch receives 100% of all origination fees, yield spread premium, processing fees, application fees, etc. to any correspondent loans generated and similar compensation under the "Premium Broker Plan" for brokered loans (see "Premium Broker Plan"). These fees are credited to the branch account at funding and are used to pay branch expenses and the excess is credited to the branch capital account as your net profit

How do I get paid?

Each Branch Manager and all employees of the branch are paid out of the branch corporate bank account. Pacific Northwest Mortgage Partners and employees are paid W-2 on 15th and 30th of each month.

How loan agent compensated?

All employees are W-2 employees. Loan agents receive commission twice a month. Profit is available for distribution on the 15th and 30th of each month.

Who is responsible for hiring all branch employees?

The branch manager is responsible for all hiring decisions within the branch. The corporate office keeps all copies of contracts, licenses and other employment forms. Manager required reports to corporate office for every coming or living agent in Branch.

Do Loan Agents need to be licensed?

No. They are employees of the corporation.

Are there any monthly volume quotas for a branch?

For 1st year no minimum loan volume requirements. After one year we ask Branch partners to originate and close a minimum of $500.000 dollars in monthly mortgage volume to create strong relationships with the departments at PMWM Corporate.

Who pays the expenses of the branch?

All expenses of the branch are paid out of the branch bank account by PNWM on your behalf. PNWM will issue checks from our California operations Center.

Would I have the ability the fund out of state loans?

Yes, you will be qualified to originate loans in any state we are licensed in.

Do I need my own warehouse lines?

No, as a PNWM Branch Partner all in-house loans are funded by PNWMÕs own warehouse lines.

Is a branch able to work as DBA?

No. All branches must do business in the name of Pacific Northwest Mortgage Corporation, to meet all guidelines.

Is processing available from the corporate office?

Yes, depending on yur level of membership.

• Silver Membership: Processing and Underwriting in corporate office in Santa Clara, CA
• Gold Membership: Processing is the responsibility of each branch. The processing can be completed by a branch processor, or by a contract processor.

All files must be submitted to corporate office for QC.

What if I want to terminate my Employment as Branch Manager?

Either party, Branch Manager or Pacific Northwest Mortgage Corporate, can terminate the agreement with 30 day of notice.

How long does it takes to get approved as a new branch?

Upon completion of Application Package, Branch Manager Application and other required documents, upon paperwork will be re viewed and approved within 3 business days.

How do I get started?

Contact business development department Tamara Alabastro at (408) 244-7600 or fill out our online application form.

Return Home

Fair housing lender and sales. Women and minorities encouraged to apply.