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 [...]

Credit Repair and Loan Modification – Good or Bad For Net Branch Loan Officers? I have noticed that there are several “side businesses” trying to recruit loan officers. By “side businesses” I mean companies that offer services like credit repair or loan modification. My in-box is full of offers and I see recruiting ads everywhere. [...]

HUD has announced the suspension of three lenders – these company’s FHA activity has been halted pending further investigation by HUD into their business practices. The three lenders are: Golden First Mortgage Corp of Great Neck, NY; Great Country Mortgage Bankers, Inc. of Coral Gables, FL; and Beneficial Mortgage Corporation of San Juan, PR. Any [...]

In the last post we covered broker vs. lender for FHA loans. Now let’s take a look at the next items on the list of important criteria you should consider if you are considering a net branch opportunity and intend to originate FHA loans. FHA originated using the corporate address or the branches? Corporate processing [...]

OK you have decided that you are going to focus on FHA and to do that you are going to join a net branch company. Are they all the same? Is FHA the same everywhere? That’s an easy one to answer. No! Here are some of the key differences that you should understand when choosing [...]