This year, 2010 is the deadline for all states to become part of the National Mortgage Licensing system (NMLS). Net Branch Managers should full understand the new rules and how they may change the way you operate your branch and how you hire new loan officers. Many loan originators under their current state banking laws [...]

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 [...]

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 [...]