Have you read the Q&A that HUD published on RESPA? Most people in the mortgage industry seem to have missed this must read document. Seller Paid Items, Denial, Change of Circumstance, Important Dates, Escrow Account Information, Loan Summary, among other topics. The document answers questions like; Can items be listed as POC on the GFE? [...]

Many Net Branch Companies will close their doors! HUD has just release the final rules on the required net worth requirements for mortgage  lenders to keep their HUD approval. If your net branch company is currently a HUD approved lender the new HUD rule will increase the minimum net worth by 4 times. The old [...]

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 [...]

Why is a net branch the best business model for most mortgage professionals? One of the reasons is that current and pending legislation is making it harder for small independent mortgage shops to survive. As our mortgage lending environment continues to change more mortgage lending professionals are switching to the net branch business model because [...]

The new year brings in big changes for mortgage net branch managers. 2010 will see some of most sweeping changes in our industry. If you are consider joining a mortgage company that offers a net branch opportunity you should be considering these changes before you decide on which company to join. Big Net Worth Change [...]