To improve the quality of the mortgage banking industry—one client experience at a time.
What We Do:
We don’t touch your loans and we don’t touch your money on any level—we touch the books. We help ensure financial wellbeing for an emerging broker-to-banker that has never needed GAAP compliant financials and doesn’t really know all the compliance regulations. We also are a good fit for the mid-tier client who knows how it works and has been doing all the admin work internally with too much employee overhead and stress.
We provide the services of a highly qualified CFO and Human Resources Team for a fraction of the price to hire a CFO, support staff, office space, and benefits. The Alpine team collectively shares 60+ years of mortgage banking experience with clients. Our plug and play solution also comes with a robust GL system, which allows detailed “loan level” financial reporting
We are a “value added” solution for warehouse lenders. We can improve the quality of their client and reduce the need to issue covenant and warranties waivers for non-compliant financials. We can keep the clients on track with CFPB HMDA and call reports. We review LO compensation agreements to make sure they are being paid in accordance with regulations.
WHAT YOU GET:
- A Professional To Do Your Work
It takes more than software to get your bookkeeping done. With Alpine you get an experienced professional to do the job for you.
- Paper Free Bookkeeping
Clear your desk of paper receipts. With Alpine, email photos of documents from your mobile phone or FedEx them in—we’ll do the scanning for you and upload them to your account.
- Experts You Can Turn To
Whether you are trying to navigate tax season or want to know accounting best practices, your bookkeeper is available to share their wealth of knowledge.
- Tax Time Support
Escape the tax crunch. Your bookkeeper will work with you and your CPA to ensure your statements are ready to file by the deadline.
Mortgage Services Offered:
Each potential client is interviewed and assessed to determine their specific needs. A menu of services is available. Alpine can do it all or fill in the gaps. Hourly fees are structured according to each client’s specific needs. The hourly rate is extremely cost-effective for the quality of services provided.
Daily general accounting functions including:
- Daily wire and deposit posting, plus accounts payable back-up support when necessary
- Daily entry of receipts into General Ledger and creation of any receivable items, maintenance of all GL customer accounts
- Customer Invoicing and Accounts Receivables
- Accounts Payable and Vendor Management
- Merchant Services—Credit, Debit processing with GL interface
- Fixed Asset Management and Depreciation Maintenance
- Daily reconciliation of incoming cash items with GL and receivable accounts
- Daily entering of any payable items necessary to reconcile incoming cash
- Day end reporting of closing cash balances
- Day end warehouse reconciliation and reporting
Month-end closing and financial reporting including:
- Bank reconciliations
- GL account reconciliations
- Account Receivable reconciliations
- Customer account reconciliation
- Prior Period reconciliation
- Warehouse reconciliation/Compliance Reporting
- Journal Entry postings and accruals for taxes, distributions, etc.
- Reporting of payments not received and/or writeoffs
- Preparation and delivery of Draft and Final Monthly Financial Reports
- Redundant maintenance of all financial reporting, reconciliation and back-up
Full support for annual external financial audit including:
- Engagement consultation
- Audit conferences and data and document preparation and delivery
- Communication and support with external auditors
- Research and reporting
- Entry of any necessary adjusting items
Year-end IRS/other agency reporting
- 1099’s and 1098’s as necessary
- NMLS Call Reporting
- Investor/Warehouse Reporting—including Monthly/Quarterly compliance certificates
Financial Review and Ad-hoc reporting
- Additional services and consultation as necessary to support client’s financial performance internally as well as with associated partners and other venture partners, if any.
Human Resources Support
- Commission/Bonus Calculation and reporting
- Compensation compliance reconciliation to employment agreements and industry regulations
- Payroll processing and delivery with direct interface to general ledger system
- On-line paystub delivery to employees
- IRA/401k reporting and accounting/remittances to provider
- On-boarding of new employees as well as necessary terminations
- Benefits coordination and communication
- Liaison between Client’s employees and benefits providers
Are you struggling with any of these issues?
- You are not certain your compensation agreements comply with CPFB regulations
- You are having your loan processor prepare your HMDA and Call Reports and/or you are not even sure you need to do them
- You want to transition from a net branch to an independent mortgage banker
- You call yourself a “mini-correspondent” lender
- You need a third-party warehouse line
- You need a second warehouse line
- All you get from your “consultant” is advice and you still have to do the work
- Your CPA charges more per hour for only financials than Alpine would charge for a complete General Accounting and Payroll system, daily cash position management, bank statement reconciliation, daily warehouse line reconciliation, annual audit support, IRS reporting, seasoned mortgage banker advise and more—without an office or staff or benefits
- Your office manager just got sick, or quit, or mismanaged your funds
- Your annual audit takes more than 2 days to complete
- Your warehouse provider requires GAAP compliant financials
- You need to make changes to staff, procedures, and infrastructure to support the transition from mortgage broker to mini-correspondent
Outsourcing in the mortgage industry is nothing new—loan processing, underwriting, doc prep, and loan compliance in addition to many other functions. Outsourcing has been around for years. You let the professionals with experience manage that part of your operation. Why not let the Alpine professionals take care of the administrative details of your business while you bring in the business? Alpine Pacific Advisors—a true partner dedicated to maximizing your profits and success.