Branch FAQs

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  • Is Finance of America Mortgage a lender or a broker?
    Finance of America Mortgage is primarily licensed as a Mortgage Banker. For most loans Finance of America Mortgage Branches operate as a lender to submit their loans. For those loans that cannot be supported by the in-house products, the branches can submit to the Finance of America Mortgage approved lenders on a broker basis. All licensing is subject to state and federal guidelines.

  • Do I have to relinquish management control of my office?
    No. One of the benefits of being a Finance of America Mortgage Branch is that managers maintain control of the branch operations. You run your own office and make your own management decisions. We simply provide the operational infra-structure and support to help you achieve your goals and make sure you do so in a compliant manner.

  • Can I originate loans in other states?
    Yes, providing the branch and the originator are both properly licensed to support the business in the state. Our licensing department will guide you through the process on a state by state basis. If the branch and/or originator are not properly licensed, the loan may be referred to our State Desk in which the referring source will receive a referral fee.

  • Which States is Finance of America Mortgage currently licensed?
    Finance of America Mortgage is licensed in all 50 states and Washington, DC.

  • What is the process of applying to be a Finance of America Mortgage Retail Branch?
    You can complete the on-line “Request for Information” found on this website and click submit. Based on your information, we will contact you to discuss the opportunity and to answer any questions you may have about the Finance of America Mortgage Retail Branch program.

  • What are the costs involved with becoming a Finance of America Mortgage Retail Branch?
    There is no “out of pocket” fee to get set up as a Finance of America Mortgage Retail Branch.

  • What are my options to submit loans as a Finance of America Mortgage Retail Branch Partner?
    The expectation is that most loans (90+%) will be submitted to Finance of America Mortgage and the branch will have access to products and guidelines online, as well as direct communication with the secondary market department for support.

    In addition, subject to the Finance of America Mortgage policies and procedures, if Finance of America does not have the product to support the file, the branch may submit the loan to a lender on the Finance of America Mortgage approved lender list. Thus, the Finance of America model provides a strong corporate product support and alternative product variety through our lender relationships to offer you the best of both worlds.


  • How often do I get paid?
    Finance of America Mortgage payroll is processed on a semi-monthly schedule. All employees must be paid W2 wages through payroll. Direct branch expenses can be paid on a pre-tax basis. Administrative cost and insurance are debited from the branch P&L. All loan CLOSINGS and commission checks received by the close of business on the 1st thru the 15th are paid on the last day of the month. For loans CLOSED and commission checks received from the 16th thru the end of the month, payroll is paid on the 15th of the following month. The Branch Manager is paid once a month.

  • Do you offer direct deposit?
    Yes, Finance of America Mortgage offers and recommends direct deposit for branch efficiency and convenience.

  • Will I be a W2 employee or 1099?
    All Finance of America Mortgage personnel are W2 employees.

  • How are the loan officers compensated?
    Loan officer compensations are determined by the Branch Managers and paid through semi monthly payroll based upon their production and compensation plans.

  • How are branch expenses paid?
    Finance of America Mortgage must issue the check for your monthly expenses which are paid by the Corporate Accounting department.

  • Who determines staffing levels, compensation, etc?
    The branch manager is responsible for these decisions in consultation with the corporate office: Branch staffing and compensation is fully vested in the Branch Manager.

  • Is my branch assigned a specific territory?
    No, Finance of America Mortgage does not assign specific territories. The number of offices in each market is monitored to allow each branch to achieve its full potential.

  • Can my branch have more than one manager?
    Yes. Although there will only be one designated branch manager in the system any others will be referred to as Co-Managers. All managers will have lateral authority and may require a signed concurrence for certain actions taken in the branch to protect the mutual interests.

  • Can I keep my current business name or be allowed to use a DBA?
    As a rule, all branches must do business as Finance of America Mortgage. Although, we understand that there may be circumstances that require consideration, and in those cases, DBA’s may be permitted depending on mitigating circumstances and approval by the executive committee.

  • Can I process loans in my branch?
    As a branch manager, you may hire your own processor or use an assigned processor from a corporate operations center.

  • Do you have access to LP and DO?
    Yes, we will provide you direction on how to get set up.

  • Does Finance of America Mortgage offer access to DU?
    Yes, we will provide you direction on how to get set up

  • Is Finance of America Mortgage HUD Approved?
    Yes, Finance of America Mortgage’s Retail Branch Program meets all regulatory requirements and conforms to the HUD mortgagee letter 00-15, regarding branch arrangements.

  • Do you have a compliance department?
    Yes, the Finance of America Mortgage Compliance Department makes sure we are in compliance with all federal, state and local rules and regulations. They also provide support for loan officer licensing, branch licensing, advertising review and QC support.

  • Do you have restrictions on the maximum points and fee charged?
    Yes, fees are limited to ensure that we do not make high cost loans as defined by federal, state and/or local regulations.

  • Who sends out the Initial Loan Estimate
    The branch is responsible for sending out Initial Loan Estimate as well as state specific disclosures within three days of taking the application and pulling a credit report.

  • Do you offer email addresses identifying the company?
    Yes, each branch will be issued a FinanceofAmerica.com email address with Finance of America Mortgage’s signature block.

  • How do I advertise?
    All advertising must receive a written approval by the Marketing and Compliance Departments to ensure that all content complies with Federal, State and Local Regulations.

  • Do I have to keep a reserve account balance?
    Yes. It is required that branches maintain cash reserves to cover at least 2 months payroll and fixed operations cost. This reserve is funded through the branches initial loan closings income.

  • Do you offer accounting and legal services?
    Yes, we have a certified, seasoned, professional staff handling all accounting services at the corporate office, in addition to a legal team to support the branches.

  • Does Finance of America Mortgage have a minimum branch office requirement?
    Yes, Finance of America Mortgage requires that all branches operate out of commercially zoned, professional office space. The branch must be clearly identified to the public and be staffed and equipped to deal with customers in a professional manner. Offices can be as small as an executive office suite.

  • What type of experience do I need?
    A minimum 3 years of full time experience in leading a mortgage originations team with an expectation of at least $ 3,000,000 a month in loan closings. Exceptions will be considered, on a case by case basis, to make room for those branches with growth potential doing $1,000,000 or more a month.

  • What are you looking for in Branch Manager?
    Finance of America Mortgage is looking for mortgage professionals who are honest and ethical, committed to their own success, and looking for a strong direct lending partner to help them achieve their professional goals.

  • How do I get started?
    If you have an existing relationship with Finance of America Mortgage, just get in touch with your contact and ask about the Finance of America Retail Branching opportunities. Their sponsorship of you as a prospective retail branch will strengthen your request based on your history and existing relationship.

    If you are new to Finance of America Mortgage, just complete the on-line “Request for Information” found on this website and click submit. Based on your information, we will contact you to discuss the opportunity and to answer any questions you may have about the Finance of America Mortgage Retail Branch program. We will also discuss what your goals are and how we can help you achieve them as a Finance of America Mortgage Retail Branch Partner?

    The initial conversation is imperative to identify your current situation, goals and plan for success. With a mutual decision to move forward, you will be sent a complete package on how to become a Finance of America Mortgage branch for you to complete and submit. Step 1 (Branch Manager Profile and Questionnaire, Confidentiality and NDA Agreement and a Brief Broker History) and Step 2 (Sample Pro-Forma, Sample Equipment List & Inventory and a 4506T Form). We will conduct a preliminary review based on the phone conversation and this documentation. Explanations of these documents are provided on their respective web pages.

    Upon approval of this initial review, we will send you a request for detailed documentation to complete and return. Upon receipt of these detailed documents, the review/approval takes 7-10 working days for your package to be processed and background checks to be done. Upon your approval the file is sent to the state to register or license your branch location. Depending on the state, this part of the license processing time may vary.