United States Attorney William N. Nettles has announced that Jill Diane Brennan of Myrtle Beach, S.C. pled guilty in federal court to conspiracy to commit bank fraud, a violation of Title 18, United States Code, Section 1349. United States District Judge Terry L. Wooten of Florence accepted the plea and will impose sentence after he has reviewed a presentence report prepared by the U.S. Probation Office.Read more

The conclusion of the House-Senate Conference on the financial reform bill early Friday morning has produced a bill that seeks to revamp the American financial system, and more importantly, bring accountability to Wall Street. Dubbed the Dodd-Frank Act after its primary architects, Senate Banking Committee Chairman Sen. Christopher J. Dodd (D-CT) and House Financial Services Committee Chairman Rep. Barney Frank (D-MA), the bill is expected to be approved by both the House and the Senate some time next week.Read more

Like many of you in this time of unprecedented financial turmoil for our industry, I have wondered whether or not we as mortgage brokers will survive. And, if we do, what does our future hold? My answer to the first question is a resounding, “Yes!” There are many reasons that the mortgage broker will survive. First and foremost, the mortgage broker fills an important role that the consumer does not receive from any other channel of distribution.Read more

Marc Savitt, immediate past president of the National Association of Mortgage Brokers (NAMB), along with Frank Garay and Brian Stevens (co-creators of Think Big Work Small) and a contingent of 20-plus mortgage brokers and appraisers, visited the New York City offices of New York State Attorney General Andrew Cuomo to hand deliver 35 boxes worth of anti-Home Valuation Code of Conduct (HVCC) petitions containing 120,000-plus signatures from both mortgage industry professionals and consumers.Read more

NetMore America Inc., an expanding next generation mortgage banker, announced that in an effort to support the National Association of Mortgage Brokers (NAMB) and mortgage brokers it is offering reduced fees for mortgage brokers who are currently members of NAMB and will extend the offer to any mortgage broker that joins over the next 30 days.Read more

Stan Wang, CMC, CRMS has announced the launch of Premier Brokers Network LLC (PBN), an organization created to facilitate the selection of outstanding mortgage brokers throughout the United States by PBN members and the public. This is accomplished via access to a database of carefully selected mortgage brokers, so that members may confidently recommend top rated brokers for their client’s financing needs in states where they are not licensed. PBN is a user-friendly Web-based service unlike any other.Read more

In an August 17 story by the The Associated Press (AP), it has been stated that the National Association of Mortgage Brokers (NAMB) spent nearly $1.1 million in the second quarter to lobby on regulations for home appraisals and laws governing the information disclosed when borrowers take out a home loan, according to a recent disclosure form.Read more

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