BRANCH MANAGER AGREEMENT
THIS
"AGREEMENT" is made and entered into by
and
between Americash, a California
corporation ("Employer")
and ▇▇▇
▇▇▇▇▇▇▇
("Employee").
RECITAL
A. Employer
is a California corporation, which
provides
financial services.
B. Employer
and Employee desire to enter into this Agreement to
establish the terms and
conditions of Employee's employment as a branch manager as set forth
below.
AGREEMENT
NOW,
THEREFORE, in consideration of the foregoing premise, as well as the
promises,
covenants and conditions set forth herein, the parties agree as
follows:
1.
Employment:
Employer
hereby
employs
Employee in the capacity of Branch Manager of Employer's offices located at
▇▇▇▇▇
▇. ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇. Employee
accepts such employment. Employee's job duties and responsibilities,
to be
performed
with the
approval and concurrence of the President of Employer are as
follows:
A.
Manage
and supervise the operations of the Branch in general;
B.
Hire,
terminate and supervise employees of the Branch;
C.
Supervise and implement general marketing strategies for the Branch in
accordance with
Employer's
general plans and policies; and
D.
Generate and process loans in accordance with
Employer's general plans
and
policies
and in compliance with Employer's underwriting standards.
Such
duties may be curtailed, augmented or modified from time to time as deemed
mutually agreeable
to Employee
and Employer. Employee will at all times perform his job
duties
in
an honest and ethical manner and will, at a minimum, comply with the provisions
of any and all state
or
federal statutes, laws, rules or regulations applicable to Employer or of any
requirement of
any federal
or state
agency having jurisdiction over Employer
including but not limited to the
United
States Department of Housing and Urban Development.
Employee
acknowledges and agrees that Employee will devote his utmost knowledge
and
best
skill to the performance
of
his
duties and will devote his full business time to the rendition of such services.
Employee will not engage in any other gainful occupation, including but not
limited to marketing, distribution or development of any products related to
the
real estate loan industry which
requires his personal attention
without prior written consent of the President of
Employer
("President"). Americash is aware that ▇▇▇ ▇▇▇▇▇▇▇ is CEO of SDI.
1.1 Employees of Branch Managers.
Any and
all Employees hired by Branch Manager shall have completed a "new hire employee
package". This package shall be submitted to Americash's corporate office.
All
prospective employees shall be first approved
by Americash prior to employment. No individual is
permitted
to become an employee without corporate approval. Americash
agrees that approval to hire shell
1
not
be
unreasonably withheld and that a response will be provided to Branch Manager
within 3 days of receipt of the prospective employee's information at
Americash's corporate office. All agreements for compensation or other
agreements made with prospective employees shall be first approved
by Americash. With
the
permission of the main office, Branch Managers may choose to hire an employee(s)
to assist with their needs. Prior to hiring any employee, the necessary new
hire
paperwork and background checks must be completed and received by the main
office. It will be the responsibility of the
Branch
Manager to provide the necessary funds to cover the wages and employer taxes
of
any persons working under them. Should any Branch Manager fail to maintain
the
required branch reserves, their employee(s) may be terminated and any pay due
to
the employee(s), exceeding the account balance, will be deducted from the Branch
Manager's next loan funding. A commission paid position (i.e. loan officer)
does
not require a reserve or deposit by the Branch Manager provided that the
commissioned employee is paid upon funding. ALL compensation agreements are
to
be in writing and included in new employee package to be reviewed by Americash's
corporate office. Americash will provide the Branch Manager with 2 day's prior
written notice of the failure to maintain the required branch reserves before
any employee(s) are terminated.
2.
Uniqueness
of Employee's Services.
Employee
hereby represents and agrees that the services to be performed by him under
this
Agreement are of special, unique, unusual, extraordinary
and intellectual character which gives them a particular and peculiar value,
the
loss
of which
cannot be reasonably or adequately compensated in damages in an action at law.
Employee, therefore, expressly agrees that Employer, in addition to any other
rights or remedies which Employer may possess, shall be entitled to injunctive
and other equitable relief to prevent a breach of this Contract by
Employee.
3. At-Will
Employment.
Employee
and Employer understand and expressly agree that Employee's
employment may be terminated by Employer
or by Employee at any time, with or without notice and with or without cause.
Employee and Employer expressly agree that this provision is intended by
Employee and by Employer to be the complete and final expression of their
understanding regarding the terms and conditions under which Employee's
employment may be terminated. Employee and Employer further understand and
agree
that no representation contrary
to thus provision is valid, and that this provision may not be augmented,
contradicted or
modified
in any way, except by a writing signed by Employee
and
by
the President.
4.
Compensation.
As
compensation for the services to be rendered by Employee hereunder, Employer
shall pay Employee pursuant to the schedule attached hereto as Schedule "A",
less withholding for state and federal taxes and employee portions of
FICA
and
SDI. Any fees from loans generated by Employee prior to Employee's termination
with Employer, but which loans close after, but within thirty (30) days of
Employee's termination, for whatever cause, will be paid to Employee, according
to the schedule referenced above in this subparagraph. The payment of
commissions to Employee shall be subject to the following
provisions:
2
4.1 Deduction of Expenses,
Employee
authorizes Employer to deduct from any
commissions due at termination of this Agreement all financial obligations
owed
to Employer
that are imposed by the terms of this
Agreement, including, but not limited to, past
due fees,
dues,
late charges and expenses of commission payable to Employee. All
outstanding balances due Employer shall be applied first to unpaid fees, dues
and licenses, then to miscellaneous shared expenses and then to personal
expenses.
4.2 Commission
Split on
Termination. In
the
event Employee leaves and has
transactions pending that require further services normally rendered by
Employee, Employer shall make arrangements with another person in the employ
of
Employer to perform the required services, and the new person assigned shall
be
compensated for completing the details of pending transactions and such
compensation shall be deducted from the terminated Employee's share of the
commission.
4.3 Split
Commissions.
In the
event Employee participates in
such work
with
another
employee of Employer, Employee's share of the commission shall be divided
between the participating persons according to the agreement between them,
or by
arbitration.
4.4 Receipt
of Commissions.
All
commissions will be received by Employer.
Employee's share of such commissions, however, shall be payable to Employee
on the
normal
payroll cycle (15th
and 31st
of the month) for loans funded through closing of
the prior
payroll cycle (i.e. loans funding from 7/1 to 7/15 are paid on 7/31 payroll
and
loans
funding
from 7/16 to 7/31 are paid on 8/15
payroll).
4.5 Non-Liability
for Uncollected Commissions.
In no
event shall Employer
be
liable to
Employee for Employee's share of commissions not collected, nor
shall
Employee be entitled to any advance or
payment
from Employer upon future commissions.
4.6 Amount
of Commissions.
Employer's usual and customary commissions
from
time to time in effect, shall he charged to the parties for
whom
services are performed
except that Employer may agree in writing to other rates with
such parties.
Employer will advise Employee of any special commission rates made with
respect
to listings or
borrowers
as provided
in this paragraph. When Employee shall have performed any work hereunder whereby
any commission shall be earned and when such commission shall have been
collected, Employee shall receive
a
commission in accordance
with the current commission schedule set forth in Employer's written policy
and
agreed to by Employee based upon commissions actually
collected
from each loan that is funded as per Schedule "A". In consideration therefore,
Employee
agrees to and does
hereby contribute all right
and
title to
such
borrowers to Employer for the benefit and use of Employer.
5.
Employer's
Policies
and
Regulations.
Employee
agrees to comply with Employer's policies
and regulations, including those set forth in Employer's policies and procedures
manual,
3
if
any,
and any subsequent amendments or additions thereto and Employer's underwriting
standards
for loans and any amendment or additions thereto. In the event of any conflict
between
those
policies and regulations and this Agreement, the terms of this Agreement shall
govern,
6.
Solicitation
of Employees or Customers.
The
non-solicitation covenants contained in paragraph 6 will be mutually binding
on
the Employer and Employee. Neither Employer nor Employee
shall solicit their respective employee(s), independent contractor(s), or
customer(s) as described
below, provided that nothing herein will restrict the rights of subsequent
purchasers of
closed
loans to solicit their servicing portfolio.
6.1 Information
About Other Employees and Independent Contractors.
Employee
will be called upon to work closely with employees and independent contractors
of Employer in performing services under this Agreement. All information about
such employees and/or independent contractors which becomes known to Employee
during the course of his employment with Employer, and which is not otherwise
known to the public, including compensation or commission structure, is a Trade
Secret of Employer, as defined below, and will not be used
by
Employee in soliciting employees and/or independent contractors of Employer
at
any time during or after termination of his employment with
Employer.
6.2 Solicitation
of Employees and Independent Contractors Prohibited.
During
Employee's employment and for two years following the termination of
Employee's
employment, Employee will not, directly or indirectly ask or encourage any
employee(s) and/or independent contractor(s) of Employer to leave their
employment with Employer, solicit any employee(s) and/or independent
contractor(s) of Employer for employment, make any offer to compensate any
employee or independent contractor of Employer
as an employee, independent contractor or otherwise, or retain any employee
or independent
contractor of Employer as an employee, independent contractor or
otherwise.
6.3 Solicitation
of
Customers Prohibited.
For a
period of two years following
the
termination of Employee's employment, Employee will not, directly or indirectly,
solicit the business of any of Employer's customers.
7.
Further
Restrictive Covenants.
The
Trade Secrets covenants contained in paragraph 7 will be mutually binding on
the
Employer and Employee. Neither Employer nor Employee shall make improper use
or
disclosure of their respective Trade Secrets. Disclosure of Trade Secrets to
someone who is not an employee of Employer must first be authorized in writing
by the President on behalf of Employer or by the Branch Manager on behalf of
Employee.
7.1 Trade
Secrets.
During
the course of Employee's employment, Employee will have access to various trade
secrets of Employer. A "Trade Secret" is information which is not generally
known to the public and, as a result, is of economic benefit to Employer in
the
conduct of its business. Employee and Employer agree that Trade Secrets
include, but are not limited to, all information developed or obtained by
Employer
and
comprising the following items, whether or not such items have been reduced
to
4
tangible
form (e.g. physical writing) all methods, techniques, processes, ideas, research
and development, trade names, service marks, slogans, forms, customer lists,
pricing structures, menus, business forms, marketing programs and plans, layouts
and designs, financial structures, operational methods and tactics, cost
information, the identity of or contractual
arrangements with suppliers, the identity
or buying
habits of customers, accounting
procedures, and any document, record or other information of Employer relating
to the above. Trade Secrets include not only information belonging to Employer
which existed before the date of this Agreement, but also information developed
by Employee for Employer or its employees during the term of this Agreement
and
thereafter.
7.2 Restriction
on Use of Trade Secrets.
Employee
agrees that his use of Trade
Secrets is subject to the following restrictions during the term of the
Agreement
and for
an indefinite period thereafter so long as the Trade Secrets have not become
generally known to the public:
7.2.1
Non-Disclosure.
Employee
will not publish or disclose, or allow to be published or disclosed, Trade
Secrets to any person who is not an
employee
of Employer unless such disclosure is necessary for the performance of
Employee's obligations under this Agreement. Disclosure to someone who is not
an
employee of Employer must first be authorized in writing by the
President.
7.22
Use
Restriction.
Employee
will use Trade Secrets only for the limited purpose for which they were
disclosed. Employee will not disclose any Trade Secrets
to any third party (including subcontractors) without first obtaining
Employer's
written
consent and will disclose Trade Secrets only to Employer's own employees having
a need to know, Employee will promptly notify Employer of any Trade Secrets
improperly or prematurely disclosed.
7.23
Non-Removal.
Employee
will not remove any Trade Secrets from the offices of Employer or the premises
of any facility in which Employer is performing services, or allow such removal,
unless permitted
in
writing by the President.
7.2.4
Surrender
Upon Termination.
Upon
termination of his employment
with Employer for any reason, Employee will surrender to Employer
all
documents and materials in his possession or control which contain Trade
Secrets.
8.
Unfair Competition, Misappropriation of Trade Secrets and Violation of Solicitation Clauses.
Employee
and Employer acknowledge that unfair competition, misappropriation of Trade
Secrets or violation of any of the provisions contained in paragraphs 6 or
7
would cause irreparable injury, that the remedy at law for any violation or
threatened violation thereof would be inadequate, and that Employer or Employee
will be entitled to temporary and permanent injunctive relief without the
necessity of proving actual damages. Employee and Employer agree that temporary
and permanent injunctive or other equitable relief will be available in a court
of law regardless of the arbitration provision set forth in this
Agreement.
5
9.
Disclosure to
Subsequent Employers.
Employee
agrees to make any subsequent employer aware of all obligations in
paragraphs
6 and 7 of this Agreement.
10.
Representation
Concerning Prior Agreements.
Employee
represents to Employer that he is not bound by any non-competition or
non-solicitation agreement that would preclude, limit or in any manner affect
his employment with Employer. Employee further represents that he can fully
perform the duties of his employment without violating any obligations he may
have
to any
former employer, including but not limited to,
misappropriating
any proprietary information acquired from a prior employer and agrees that
he
has not and will not misappropriate any proprietary information acquired from
any prior employer. Employee agrees that he will indemnify and hold Employer
harmless from any and all liability and damage, including
attorneys'
fees and costs, resulting from any breach of this provision.
11.
Conflict
of Interest.
Employee
acknowledges that the obligations of the Employee are special and unique.
Employee agrees that he will not at any time during
the
term
of employment serve as
an
officer, director,
employee,
or
otherwise
have
an
interest in any entity that engages in business similar to that of Employer
and
Employer's subsidiaries. This provision does not apply to stock ownership in
a
publicly traded company.
12. Limitations
on Authority.
Without
the express written consent from the President,
Employee
has no authority to:
| a) |
Pledge
the credit of Employer or
any of
its other employees;
|
| b) |
Release
or discharge any debt in
excess
of $100.00 due to Employer unless the Employer has received the full
amount thereof; and
|
| c) |
Sell,
mortgage, transfer or otherwise dispose of any non-inventory assets
of the
Employer which have a fair market value in excess of
$100.00
|
13.
Personnel
Policies and
Procedures.
Employer
has the authority to establish from time to time personnel policies and
procedures to be followed by its employees. Employee agrees
to
comply
with
the
policies and procedures of the Employer. To the extent any
provisions
in
Employer's personnel policies
and procedures
differ with the terms of this Agreement, the terms of this Agreement apply.
In
no case will any personnel policies or procedures be deemed to contradict the
at-will employment provision in this Agreement.
14.
Automobile.
Employee
will, at his own expense, procure an automobile for any use in traveling and
making calls on clients and prospective clients. Employee agrees to indemnify
and hold Employer harmless from any claims arising out of or relating
in
any
way
to the operation or use of that automobile by Employee. Furthermore, Employee
will at all times during the term of his employment keep in full force and
effect, at his sole expense, a policy of automobile insurance on each automobile
used by him at any time to carry out any of the duties of his
employment.
6
15. Processing.
Branch
offices may have their own processing approved by Americash. Loan officers
may
not process loans they originate. If the Branch Manager chooses to have the
loan
file processed by Americash's corporate office, there will be an additional
$395.00 assessed for each loan funding. Americash in its sole discretion may
choose not
to
process
a
Branch
Manager's
loan file. Cause for this could be poor quality of loan file or a high
percentage of fall out of the Branch Manager's loan files.
This shall be the fee for all loans up to $500,000.00. Any
loan
amounts above $500,000.00 or
construction
loans or
commercial
loans shall be charged
$495.00 per loan file
processed and funded. Should Americash's corporate office choose to
have non-branch
loan tiles processed by the
branch office, the same fee schedule would apply.
16. Loan
Register.
Employee
hereby agrees to maintain a ledger reflecting the status of
all loans
held
or
currently in process by Employee's branch and to forward this register weekly
to Employer
via facsimile or e-mail transmission.
17. Advertising.
No
advertising in any form is to be used by Employee prior to written approval
from
Employer.
18. Accounts.
No
savings, checking, investment or other accounts may be established by Employee
in the
name
of Employer or in any name
similar to that
of
Employer. The determination
as to similarity of names is within the sole
discretion of Employer.
19. Loan
Repurchase/Post Settlement Adjustments/Premium Recapture.
If, as
result of the representations and/or documentation provided by the Employee
or
an Employee of the Employee, Americash is required to repurchase a loan or
pay
settlement costs on a loan to a lender. Americash reserves the
right
to
deduct these costs and any expenses associated with them, such as attorney's
fees, from the branch's operating account. Americash will provide the Branch
Manager with
written
notice at least 2 day's prior to acting on any requests Americash may receive
to
repurchase a loan or pay settlement costs on a loan to a lender.
If
a
lender requires Americash to reimburse any fees collected on a loan funding
in
which the Branch
Manager or an Employee of the Branch was the originating party, Americash will
reserve
the
right to pay such fees from the operating income of the respective branch.
The
Branch Manager is advised that may lenders prohibit the re-solicitation of
closed loans within certain time frames and the Employee will be responsible
for
any monies required to
be
paid back to the lender.
You may obtain a copy of a lender's agreement with Americash through
the corporate office.
20. Company
Fees. There
will be an amount of $595.00 plus 0.25% of the total loan amount retained by
the
company on each loan funding. In the event that the funding is less than
what
is
necessary to cover company fees, the Branch Manager will be responsible for
payment to
Americash immediately.
21. Investor
Fees. There
will
be
an amount per the attached Schedule "A" retained by Americash on each loan
funding that will vary by Investor. In the event that the funding is less than
what is necessary to cover company and investor fees, the Branch Manager will
be
7
responsible
for payment
to Americash immediately. Americash
will
waive collecting Investor Fees
for
branch loans closed on a monthly basis after the first $2,000,000.
22. Reserves.
There
will be a cash reserve established for each branch operation. This reserve
will be set aside from the profits of the operations to
offset
any future short falls
in
operational
expenses. The amount of this reserve will vary based upon
the
branch's fixed
expenses. The amount will be predetermined by the corporate office and the
branch manager and may
vary
in the future
based upon changes in cost structure, staff, cash flow, etc. The
initial cash reserve
for branch
operational
expenses will be $10,000. The branch cash reserve amount will
be
reviewed
on a quarterly basis beginning 9/30/06 and re-set to an amount approximating
50%
of the branch's monthly fixed expenses for the subsequent quarter.
23. Appraisals.
All
appraisals are to be paid COD by the borrower or loan officer at the time of
inspection. The loan officer is personally responsible for payment of appraisal.
The loan officer shall in no way, shape, or form obtain credit from any vendor
on behalf of Americash. If a Branch Manager is to have outstanding appraisal
bills he/she shall pay them immediately.
24.
Credit
reports.
Americash will direct Branch Manager on setting up an account to
pull
credit reports. Branch Manager will be responsible for any and all charges
incurred. Branch Manager will be responsible for assuring all consumer credit
information is safe guarded from unauthorized disclosure and is used for
authorized purposes only.
25. Branch
Audits.
It is
the responsibility of the Branch Manager to keep branch in compliance
with all state and federal law. It will be the responsibility of the Branch
Manager
to
pay any
fines or fees that may arise from an audit or inquiry by any
governing
institution into their branch.
26. GeneralProvisions.
26.1
Continuing
Obligations.
Neither
the termination of Employee's employment
nor the termination of this Agreement shall affect any rights or
obligations
accruing
prior thereto or any continuing obligations of the parties
hereunder.
26.2
Notice.
Any
notice, request, instruction or other document to be given hereunder shall
be in
writing and shall be deemed to have been given when delivered personally,
or when mailed, postage prepaid, addressed to the party to be given notice
as
follows:
To
Employer: Americash
at:
▇▇▇
▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇
▇▇▇▇, ▇▇ ▇▇▇▇▇
Attn:
▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇
8
To
Employee: ▇▇▇
▇▇▇▇▇▇▇
at:
▇▇▇▇▇
▇.
▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
26.3
Entire
Agreement.
This
Agreement supersedes any and all other agreements, either oral or in writing
or
implied in fact, between the parties hereto with respect to the employment
of
Employee by Employer, and contains all of the covenants and agreements between
the parties with respect to that employment. Each party to this Agreement
acknowledges that, with respect to employment, no representations, inducements,
promises or agreements, orally or otherwise, have been made by any party,
or
anyone
acting on behalf of any party, which are not embodied herein, and that no
other agreement,
statement
or promise not contained in this Agreement shall be valid or
binding,
26.4
Modifications. Any
modification
of this Agreement will be effective only if it is in a writing that (i) is
signed by both parties; (ii) specifically references this Agreement and (iii)
specifically expresses an intent by both parties to modify this
Agreement.
26.5
Effect
of Waiver.
The
failure of either
party to insist on strict compliance with any of the terms, covenants or
conditions of this Agreement by the other party
shall
not
be deemed a waiver of that term, covenant or condition, nor shall any waiver
or
relinquishment of any right or power at any one time or times be deemed a waiver
or relinquishment of that right or power for all or any other
times.
26.6
Partial
Invalidity.
If any
provision in this Agreement is held by a
court
of competent
jurisdiction to be invalid, void, or unenforceable, the remaining provisions
shall
nevertheless continue in full force without being impaired or invalidated in
any
way.
Employee
acknowledges and agrees that Employer has no duty or obligation to employ
Employee at any time after expiration of this Agreement.
26.7
Law
Governing Agreement.
This
Agreement shall be governed by and construed in accordance with the laws of
the
State of California.
26.8
Arbitration.
Employee
and Employer hereby agree that any controversy between Employer and Employee
arising from the employment relationship or termination thereof, including
the
construction or application of any of the terms of this Agreement, claims for
statutory violations, including discrimination or harassment, and claims for
wages or other compensation, will, on the written request of Employee or
Employer be submitted to arbitration in Orange County, California and be
governed by the
California Arbitration Act as set forth in the California ▇▇▇▇ of Civil
Procedure to the
extent
permitted by law.
9
27.
Acknowledgement,
Employee
acknowledges that (s)he has had the opportunity to consult with independent
counsel of his(her) own choice concerning this Agreement, and that (s)he
has
taken
advantage of that opportunity to the extent that (s)he desires. Employee further
acknowledges that (s)he has read and understands this Agreement, is fully aware
of its legal effect, and has entered into it voluntarily based on his(her)
own
judgment.
Executed
on July
19, 2006
at
Brea,
California
By:
Employer: Americash,
a California corporation
By:
/s/
▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇
▇▇▇▇
▇▇▇▇▇▇▇▇▇▇
Its:
President
By:
Employee:
/s/
▇▇▇ ▇▇▇▇▇▇▇
▇▇▇
▇▇▇▇▇▇▇
10
Schedule
"A" to Branch Manager Agreement
7/24/2006
Branch
Manager Compensation
The
Branch Manager will receive a
commission
equal
to
100%
of
the
Lender Fees collected at closing less the Americash Corporate Fees set forth
below, less any investor discount or plus any
investor yield
spread premium as
set
forth in
the
Americash rate
lock,
and
less
employers matching taxes, and ▇▇▇▇▇▇▇'▇ compensation (if applicable). Inquire
with accounting department for
exact
figures
and see example
break
down_
These monies
will
be
dispersed on
the
normal payroll cycle (15th &
31st)
by
Americash as
long
as
the
closing
package
is complete
and in compliance with state and federal law. Should Americash, at its sole
discretion, determine that the
loan
terms
delivered
deviate
from
the
loan
terms
locked,
a
post
closing
adjustment may be
made
to
reflect pricing
based
on
the actual
loan
terms delivered.
Americash Corporate
Fees
Company
Fees: 0.25%
of
the funded
lean amount
plus
$595.00
Investor
Fees:
Loan
Purchase
fees
charged by investor
to purchase
subject loan (see current Investor Fee Schedule below)
Investor
Fee
Schedule
Amount
Americash
Conforming
0.00 FNMA fixed products
Citifinancial ▇▇▇▇▇
Fargo 10.00 "Cherry"
product
▇▇▇▇▇▇
▇▇▇▇▇▇▇ 0.00
"Walnut"
product
RFC
0.00 Option & Option Plus products
HSBC
80.00 (1st only)
Countrywide
279.00 (1st only)
New
Century
380.00 (1st only)
Long
Beach
375.00 (1st only)
104.00 (1st only)
Employee
Acknowledgement: /s/ ▇▇▇
▇▇▇▇▇▇▇
/s/
▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇
▇▇▇▇
▇▇▇▇▇▇▇▇▇▇, President
11
BRANCH
COMMISSION FUNDING
FORM
Date: File
Name: Loan
Number:
Branch
Manager: __________________ Loan
Officer:__________________
Best
Person to Contact: ____________________
Phone
Number:________________
▇. ▇▇▇▇▇
CHECK AMOUNT OR LENDER FEES DUE AT CLOSING $___________
B. (Discount)
or Premium due on Sale:___
_ __ %
x $_______________
= $___________
(LOAN
AMOUNT)
C. SUBTOTAL
GROSS LENDER FEES:
(A+B) $ __________
AMERICASH CORPORATE : 0.25% x $__________ = $ ___________
Company Fee $
__________
Investor Fee $
__________
Processing
Fee $
__________
Same
Day Pay Fee $ __________
D. SUB-TOTAL
AMERICASH CORPORATE
FEES: $
__________
E. AMERICASH
BRANCH OPERATING ACCOUNT (C+D) $__________
-------------------------------------------------------------------------------------------------------------------------------
F.
Loan Officer Commissionable $_______x_____% = LO Pay
$___________
G.
Other Authorized Pay Outs per attached.
$___________
H.
BALANCE TO BRANCH MANAGER
(E-F-G)
$ ___________
12
AUTHORIZED
PAY-OUTS
FOR
CORPORATE USE ONLY:
Net
Check:
$
___________
_______________
Direct
Deposit
_____________
_____________
| 1. |
PAYS
$
_____________TO_____________________________
|
SIGNATURE
________________________________________________
| 2. |
PAYS
$
_____________TO_____________________________
|
SIGNATURE
________________________________________________
| 3. |
PAY
$
_______________
TO____________________________________
|
SIGNATURE
________________________________________________
By
signing this pay
form, I agree that I am receiving my full compensation on the above funded
file
from Americash.