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Mortgage Net Branch Georgia
When does my mortgage net branch in Georgia actually "See" the money it has generated?
Actually, your Georgia mortgage net branch will never "see" the money it generates because net branch licensing is not allowed in the State of Georgia. However, if you work for a net branch that has a license to operate within that State, generally, your funds will be available upon the following:
- The completion, auditing, and final approval of all phases of a mortgage loan agreement, including those involving the applicants as well as the net branch along with the larger mortgage company with the mortgage net branch is affiliated;
- When the funds are made available to the account, which is overseen by the branch manager;
- When all expenses have been paid and the remaining funds are finally disbursed.
The amount of time that can elapse between any or all of these factors can vary from one loan origination to the next. If the mortgage process moves along at a steady pace, then the funds will be available sooner. If there are delays at any time during the process, the funds will be delayed.
If you notice delays, you may want to look into what causes them. This may actually be an area that your net branch can improve on or change so that you are not faced with this problem.
Once again, you should be aware that you cannot operate a mortgage net branch in Georgia. You will have to seek affiliation with a larger mortgage company in another state that is licensed to do business in Georgia.