Frequently Asked Questions

What constitutes a Supreme Lending branch office?

A Supreme Lending branch office is one that where by the Branch Manager receives 100% of the profits generated out of his or her branch on a monthly basis. All branches for Supreme Lending must occupy commercial space. Home offices are not allowed by Supreme Lending.

Has HUD and legal counsel reviewed Supreme Lending?

Yes, both HUD and independent counsel have reviewed the structure and authorized Supreme Lending as a fully delegated or “Full-Eagle” mortgage lender, allowing us to underwrite, close, fund and ship our entire line of products. We are in full compliance with all the rules and regulations set forth in the FHA and RESPA guidelines.

How long has Supreme Lending been in business?

Supreme Lending opened their doors for business in June of 1999. They have been a full mortgage banker since 2002 with the establishment of branches at that time.

How is branch revenue accounted for?

Branch revenue is accounted for by taking the total amount of fees to include YSP, points, fees charged and entering them into each branches separate P&L statement on a monthly basis and paying the remaining balance after all expenses to the Branch Manager.

Who determines office space, location, staffing decisions, compensation arrangements?

The Branch Manager makes all of these decisions. You will only be responsible for staffing your office according to your needs, underwriting, doc prep, QC and other functions are all handled by the corporate office and are not an expense of the branch office. Typically a branch will employ a receptionist, a few processors and many good loan officers. If volume warrants, Supreme Lending will locate a DE underwriter for your office at our expense to facilitate the underwriting of your loans.

What if I change my mind and decide this arrangement is not for me?

Both parties, Supreme Lending or the Branch Manager can terminate the arrangement at any time with 30 days notice in writing to the other party. The only exception is when a violation of the Branch Agreement is violated then termination is immediate.

Do I have to open a reserve account with Supreme Lending?

Yes. Two months of fixed operating expenses are required. This money will not be refunded in the event fraud is determined on any loan file.

How are branch expenses paid?

Supreme Lending must issue the check for your monthly rent, phone service and salaries/commissions. These expenses are deducted out of the branch profits with the remainder left in the Branch Managers account until he/she tells us how to disperse.

How are loan officers compensated?

The Branch Manager determines the compensation arrangement with each loan officer at his/her branch office. They are all considered W-2 employee’s. Payroll is done every Friday.

Do you have processing services available?

No. Supreme Lending does not offer processing services. It is the responsibility of the Branch Manager to ascertain either in-house processing or use an outsourced processing center. We can provide the names and numbers of processing centers that other branches use for assistance in this matter.

I have loans in my pipeline with my former company, how do I handle these?

Depending on your agreement with your former employer, you can close out your pipeline with them, then once your branch application is complete with the Compliance Department at Supreme Lending and you are fully approved, you can start sending loans to Supreme Lending. If you have clients that desire to send their file to your new company, you will need to get all new disclosures signed and have a transfer letter signed by both borrowers.

Do you provide training for new branches?

Yes. We have a monthly training session for an entire day which will walk each Branch Manager and one designated person of their choice, usually an operations manager, through our processes and procedures and the ability to meet every person on our team. This day covers the role of underwriting, secondary, IT, accounting, human resources, marketing, etc. You can attend this as many times as you like until you are familiar with the policies and procedures of Supreme Lending.

Are loan officer checks physically cut or direct deposited?

We can direct deposit or issue physical checks for payroll. This is done every Friday for Loan Officers and within 48 hours for Branch Managers.

How much experience do you require for Branch Managers?

We expect those whom we employ to have a minimum of two years experience in the industry.

How do I get started?

Several Ways!

1. Contact a branch representative at (214) 340-5225
2. Email branchinfo@supremelending.com
3. Complete the form in the “Apply Now” section to have a representative contact you directly and answer any further questions you may have!