Archive for the ‘mortgage laws’ Category

FHA Mortgage Net Branch Notice

Important – FHA Mortgage Net Branch Notice – Important The deadline is upon us for the increase in the upfront mortgage insurance for FHA loans.  All net branch manager, loan officers, processors and independent owners need to be aware of this information. From HUD: Lenders are reminded that effective for FHA loans for which the [...]

North Carolina law tougher on mortgage branches, originators and lenders

A new law is going into effect soon in North Carolina that will eliminate more originators, mortgage branches and companies in that state. Very soon if you do not have a credit score of 600 or higher, your out! The net worth for a broker now will $25,000 and require audited financials. The education requirements [...]