Branch – Accounting Services Summary
Calendar:
-FORM:Branch expense and payroll calendar
Branch Expenses:
-Branch Manager must submit branch expenses to on the dates indicated in your Branch Calendar
-Check dates are the 2nd and 4th Friday of each month.
-FORM:Branch Expense Request Form- Cover page for all your invoices (Formulas are in place). Summarizes your bills and gives accounting the total amount so as not to overlook any payments. (Instructions on how to fill the form out correctly is on the first tab once you open the worksheet).
FORM:Mileage Report Form- Mileageis paid at a rate of $.54 per mile (rate changes every year). Fill out the form(formulas are in place) and attach supporting documentation i.e. (Google Maps)
-FORM:Employee Expense Reimbursement Form- Allows you to categorize expenses paid out of pocket. Formulas are already in place so all you have to do is input information and attach supporting documents. Please note, meals and/or alcoholic beverages are not reimbursable.
Services should be rendered under the name of Residential Home Funding and/or Branch Managers name in order to be reimbursed. If services are paid under a different name, a check will be made payable to the name that appears on the invoice.
-All new vendors are required to submit a W-9 to the Branch Manager. When submitting branch expenses, please include the W-9 in order for payment to be released.
Corporate Expenses:
-Examples of expenses charged to the branch. Not limited to these….
- Technology Fee - $795 per month maximum. Credits for volume posted the following month.
- CIS – Credit reports
- Ellie Mae - Fraud
- Ellie Mae - 4506
- Appraisals
- EPD’s + EPO’s
- Marketing expenses
- State assessments
- Health and Dental insurance
- Processing fees – corporate processor $500 (VA and FHA), $400 (Conventional).
Branch Payroll:
-Branch Manager must submit payroll to on the dates indicated in your Branch Calendar (attached)
-Check dates are the 1st and 3rd Friday of each month.
-Semi-monthly payroll for assistants and processors. Require a timesheet with hours worked.
-Loan officers get paid based on their schedule A. You must include what loan the LO is getting paid on and lead source.
-A branch gets charged for processing fee, payroll taxes and gets credit from employee’s insurance deductions.
-FORM:Payroll Request Form
-FORM:Payroll Timesheet
Revenue Posting:
-Corporate Fee - $894 per loan
-Branch reserve of $500 per loan for a maximum of 5,000 per branch
-Loss mitigation reserve of $100 per loan
-Loans are posted within 14 days of the closing or when funded. Whichever comes first.