Own your own title company today;
the advantages are endless and the potential is limitless! For more information,
contact us at 410-861-8444
Mortgage Title Partnership is a
proud member of:
FREQUENTLY ASKED QUESTIONS:
Q. What types of companies are
eligible for ABAs?
R. MTP consults with mortgage lenders, mortgage brokers, banks,
real estate firms and builders across the U.S.
Q. What is my company’s
earning potential?
R. Earning potential is unlimited, and is dependant on the success
of the new ABA. Each ABA is unique in its profit potential.
Q. Is this Legal?
R. Absolutely! Each ABA is set up to comply with RESPA and HUD.
Q. Do I have input?
R. Yes, MTP strongly believes that communication is key to success,
and we are always interested in ways to improve efficiency and
service, and to lower costs.
Q. Why start an ABA
now?
R. There is no better time than now to start earning more income!
Current legislation in Congress related to packaging and bundling
is reinforcing the timeliness of this opportunity.
Q. Is ABA start-up
expensive?
R. No. Capital requirements are determined in accordance with
RESPA to be based on the amount of ownership you have in the
new entity. They are minimal, but necessary, in order to be
compliant with RESPA and HUD.
Q. What are the paperwork
and reporting requirements?
R. Financial
statements and all reporting, including licensing, bonding
and insurance, are part of the daily activities managed by
MTP's title partner
Q. How long does it
take to start a new ABA?
R. Generally, it takes between 45 and 60 days after preliminary
meetings have been conducted and all parties have agreed to
proceed with the development and implementation of a business
plan for the ABA.
Q. Is there any money
required?
R. Yes, as a co-owner of the new entity, you will be required
to make a capital contribution equal to your ownership share.
This is required by RESPA. Percentage contributions are unique
to each ABA, but generally fall in the range of $5,000-$10,000.
Ongoing financial commitments will be handled from the profits
of the joint venture.
To learn more about how to get started,
contact Marc
Heyman at
(888) 409-4653.
