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 department could [...]

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 do not [...]

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 that you [...]

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 getting a HUD [...]

Another one bits the dust!  No not the song by Queen… Another National Net Branch company is shedding 80% of it’s branch offices.
Branch managers were surprised by an email yesterday announcement to it’s large branch network that they are closing effective Tomorrow.
Although the branches will have about 30 days to clear out their pipelines this [...]