States Cracking Down on Mortgage “Net Branches”

... a trend is developing that signals the end of term “net branch” is near. States don’t want anything resembling a net branch or associated with “net branching” operating within their borders. Branch applications in many states, coming from HUD compliant by the book mortgage bankers, that were previously approved 99.9% of the time, are being denied because the mortgage bank itself is associated slightly with term “net branching”.