net branch

Definition

A facility offered to mortgage brokers by a lender, causing the brokers to become employees of the lender while also maintaining independent status. An advantage is that brokers do not have to disclose yield spread premiums given by lenders.

Use net branch in a sentence

The net branch was a way for the broker to team up with the lender, the broker would still remain largely independent.

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Fern and Larry were hanging out at the net branch, enjoying the perks of working for a lender while remaining independent, and did a toast to their clever new setup.

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Unhappy mortgage brokers, bank loan officers, and mortgage bankers may seek employment under a net branch, where they may operate independently to disperse mortgages and receive higher commissions as a result.

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