If you’re a loan officer hustling for commission at a large mortgage firm, there’s a chance you’ve thought about running a mortgage branch. It’s a decision many officers make – and never look back. 

However, there are misconceptions surrounding branch management. One is that the added responsibilities make it next to impossible to focus on origination. This intimidates many loan officers. 

The reality is, that if you partner with the right company, you can enjoy a mortgage branch manager salary while still concentrating on origination. Sure, branch managers must do other things, but the role is all about propelling their professional development and earnings. 

Let’s go over what exactly you can expect in a branch manager position and how MortgageRight offers a unique experience for loan officers ready to make the jump.

A Breakdown of a Branch Manager’s Job 

More than anything else, a branch manager drives new business. It’s their job to build and oversee an operation that grows revenue through knowledge, experience, and outstanding service. This revenue is directly tied to the branch manager mortgage salary. 

Running a branch comes with many of the responsibilities business owners take on. It’s a fulfilling life for loan officers who have a passion for entrepreneurship.  

Here’s a snapshot of the day in the life of a branch manager: 

Loan Origination 

This is at the heart of a branch manager’s job. Seamless loan origination brings in revenue and helps a business grow. 

Loan officers have a built-in understanding of this, but when they start running their own branch, they have more control over the process. A lot of what they do each day supports the successful creation of loans and client retention. 

Building a Strong Team 

It’s the branch manager’s job to hand-pick a team that’s going to make their business successful. They’ll need to hire experienced loan officers who have good track records. Branch managers often have relationships with loan officers they trust, and will bring them on as part of their core team. 

They may also opt to hire other employees, such as: 

• Administrative assistants
• Loan processors
• Operation managers
• Mortgage advisors 

Once a branch manager hires their close-knit team, they must embrace a leadership role. It’s up to them to shape the culture, provide advice, and make daily decisions that reflect how they want their branch to operate.  

Networking 

Establishing and maintaining healthy relationships within the mortgage and housing industry is key for any branch. It helps strengthen the loan origination process and boost the business’s local reputation. 

To effectively network, branch managers should attend industry conferences and events that put them in touch with realtors, builders, appraisers, and other mortgage professionals. This is a great way to get referrals and become a prominent lender in the community. 

Customer Service 

Ensuring their operation provides the very best experience for each client helps branch managers retain business and propel their reputation. To do this, they must work to develop a smooth origination process from the submission of an application to closing. 

This is when partnering with the right company pays off. A good mortgage company provides a level of support that helps their branch managers close loans quickly and without error. This means offering things like underwriting and technology assistance. 

Oversee Revenue 

A branch manager has a responsibility to maintain a bird’s eye view of profit and loss. This requires them to look at loan origination numbers and operating expenses to gauge what’s working and what’s not. 

Many managers get to set their own margins and determine compensation for their staff. This means they have more control over their branch manager mortgage salary and can increase their team’s earnings while also growing the business.  

Understanding a Mortgage Branch Manager Salary 

A huge difference between running your own branch and working as a loan officer for a large company is income. Earning a branch manager mortgage salary can unlock the financial freedom you can’t get as a loan officer. 

A branch manager’s salary is based on several factors, one being the company they’ve partnered with. However, there are several pay structures that are common in the industry. 

Start With a Base Salary 

Most structures start with a fixed branch manager mortgage salary that’s decided on upfront. This guarantees a certain amount of pay, but the manager’s success often means they have additional earning potential. 

Commission 

On top of the base salary, managers earn a commission for each loan they originate. The amount is typically determined by the company the manager operates their branch under, which is why it’s so important to choose the right partner. 

Many branch managers get paid basis points as part of their income. Each point equals a small percentage of the loan amount. Like commission, the number of basis points a manager gets paid is typically determined by the company they’re operating under. 

Manager Benefits 

Another component of the branch manager mortgage salary is the benefit package a company offers. This sometimes takes the form of stock options or company equity. These benefits incentivize long-term growth for branch managers. 

How We Make Life Easy for Managers

At MortgageRight, we’ve designed a platform based on total support and transparency. We give our branch managers the freedom to run their business the way they like while also taking a lot of the responsibility off of them. 

Some of the things a manager doesn’t have to worry about at MortgageRight include: 

• Human resources 
• Payroll 
• Accounting 
• Underwriting 
• Marketing 

Our teams provide support for these essential processes so branches can focus their efforts on loan origination and business growth. 

However, these services are optional. For example, a branch manager can maintain control of their marketing strategy. 

But this is just one of the ways we set ourselves apart. Other benefits include: 

Absolutely No Micromanaging 

We want our managers to run their branches to the best of their ability. To do so, they need autonomy, which is why we don’t have layers of management dictating the show. 

Higher Earning Potential  

Our managers have the freedom to set their own margins and decide on the compensation pay for their branch. We also pay more basis points than any other company out there so you can earn the branch manager mortgage salary you deserve. 

Lower Rates

MortgageRight is a direct lender. This means our branches can offer the lowest interest rates available. For managers, this is an incredible selling point and competitive advantage. 

Clear Communication 

We understand how important communication is during the loan process. It’s our goal to make our support teams fully available whenever a branch manager needs them. Additionally, we facilitate direct communication between our owners and managers and encourage them to speak up if they have a suggestion.  

Stability 

At MortgageRight, our branch managers stay with us. We attribute this to the tremendous opportunity our platform provides. If you’re burned out or sick of moving from one mortgage company to another every few years, we offer an environment geared toward personal and professional growth and happiness. 

Start Earning a Mortgage Branch Manager Salary 

Stop getting overworked and underpaid as a loan officer. Make the move to MortgageRight and unlock your full potential. This is your chance to make a branch manager mortgage salary while developing your skills and portfolio.

Schedule a live demo today!