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Mortgage Branker

Branker Connect launched

January 17, 2006

By MortgageDaily.com staff


A California-based net branch lender has launched a new venture that promises to make the transition from mortgage broker to mortgage banker easier.

ComUnity Lending and Garrett, Watts & Co. announced the creation of Branker Connect, a partnership designed to help "brokers achieve the benefits of becoming a mortgage banker, without the risks."

Branker also targets brokers who have already migrated into the banking arena but are having difficulty achieving successful results.

"Many brokers are intimidated by the challenges and learning curve involved with entering into mortgage banking, or find that they weren't as prepared as they should have been," said Corky Watts, a Garrett, Watts principal, in the announcement.

Branker's program for brokers to achieve a successful mortgage-lending operation involves six steps: learning the business from Branker professionals until ready to launch a mortgage bank of their own; offloading mortgage operations to Branker while continuing to learn; partnering with Branker's capital market department to ensure competitive prices; using a competitive warehouse line by Branker and its partners; using Branker's "proven mortgage technology" without capital cost; and focusing on production and profits for the day, not on managing mortgage banking risks, according to the announcement.

Branker "allows brokers to eliminate the risks involved and benefit from not only an outstanding existing infrastructure, but also a wide variety of loan products," Watts said.

ComUnity, a Morgan Hill, Calif.-based lender, says it is licensed in 41 states, has 1,600 employees nationwide, and is "consistently ranked among the top 100 mortgage companies in loans funded each year."


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