Your mortgage branch could be done with USDA Rural Housing for the year! According to the estimates by the USDA Rural Development Agency the Single Family Program  will be out of fund by the end of April for 2010. In a memo dated April 9,2010 that was sent to all participating lenders the agency said: [...]

Net Branch  Update for Texas – Big changes for mortgage loan officers and branch managers As Texas completes the transition to the NMLS. The Texas Department of Savings and Mortgage Lending issued a statement about the departments new rules for considering information in a loan officers credit report as part of the application process. The [...]

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 [...]

More about the big changes for mortgage net branch managers in 2010. There is now a new 4 page GFE (Good Faith Estimate) and new disclosure rules to go with it. The new GFE has you disclosing the figures several different way to (in theory) help the borrower better understand the transaction. The initial fees [...]

Why join a national mortgage branch company for FHA? Instead of joining a net branch company to originate FHA loan wouldn’t it be better to get your own company approved by HUD to originate FHA loans? In most cases the answer is no. Let’s look at some of the costs associated with any mortgage company [...]