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Net Branch Emporium

Net Branch Emporium

Recent net branch activity

December 5, 2007


photo of Coco Salazar
While a Utah-based net branch recently regained a branch that had closed doors, the nation’s self-proclaimed largest branch operator extended its footprint into all 50 U.S. states and a debt settlement services provider is seeking brokers who wish to offer such services as a net branch.

Primary Residential Mortgage Inc. recently announced it re-opened a branch in Williamsburg, Va., bringing its number of branches in the state to 12. The branch’s manager, Lori Marrow, decided to sign up with PRMI once again after four months away from the company. She had originally opened the PRMI office in 2003.

The Salt Lake City, Utah-based operation currently has 163 branches. During the course of the year, Primary Residential opened 64 branches, 19 of these since the beginning of October, spokesman Rob Zawrotny told Factoring in attrition, it typically has over 150 branches.

Primary Residential is licensed in 47 states and has 800 employees, according to the announcement.

Last month, Allied Home Mortgage Capital Corp. announced it added seven branches to its network.

A new branch in New Castle is the only one in Delaware, Allied said.

The five other openings were in Somerset, Ky.; Largo, Md.; Rutheford, N.J.; Thomasville, N.C.; Landrum, S.C.; and Frisco, Texas. All of these markets were new for Allied except Frisco, according to the announcements.

So far this year, 23 offices have signed on with the Houston, Texas-based company, which touts it is the largest privately held mortgage banker/broker in the country, with hundreds of offices licensed in 50 states, according to its Web site. Late last year, Allied cited more than 650 offices.

Mortgage brokers who have more than three loan officers and currently use a marketing plan other than referrals can avail to XLOS’ Net Branch Debt Settlement Opportunity. Offering debt settlement services allows brokers to recapture 15 percent of revenue that is lost on dead leads, XLOS indicated in an announcement.

The Net Branch Debt Settlement Opportunity is the first of its kind, provides online and face-to-face training, training manuals, recorded sales calls and sales scripts, XLOS said. Through Web-based debt settlement software, brokers are able to view payment plans and amortization schedules, and can keep notes in the system.

Coco Salazar is an associate editor and staff writer for

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