The Florida Office of Financial Regulation (OFR) has changed its licensing requirements: Earlier this year the OFR passed a mandate that mortgage processors and underwriters must become licensed as loan originators. This requirement has been reversed, because "underwriters did not clearly fit [the] description" of a "loan originator."

On Aug. 17, 2010, the OFR provided a legal opinion, issued by Jenny S. Kim, the OFR's Assistant General Counsel, which gave the following clarification to substantially the following question:Read more

If you did not attend the 2010 National Association of Mortgage Brokers Legislative & Regulatory Conference in February, you missed one of the very best conferences NAMB has sponsored that I have ever attended. Every panel covered a topic that was crucial to our industry, and the panelists were experts on the topics presented. There was plenty of time for the attendees to address the panelists with questions that were answered in a straightforward manner. The highlight of the event was the luncheon where Federal Housing Administration (FHA) Commissioner David H. Stevens spoke to us.Read more

By investing in communities the real estate finance industry has played a critical role in the American economy. The turmoil of the last couple of years in the industry has, however, threatened this critical responsibility.Read more

It is hard to believe that it’s that time of year once again for our annual NAMB/WEST event. All of the planning and hard work by all of the volunteers is coming to a head. To be truthful, the committee and volunteers are still working to make sure that your conference is educational, informative, relaxing and professional. As you pass through the halls and rooms of the conference, please think about all of the hours that these volunteers have given to make your time in Vegas productive.Read more

The North Carolina Office of the Commissioner of Banks (NCCOB) announced that it is proposing mortgage rules to help reduce foreclosures, to improve consumer protection and the functioning of the mortgage market, and to implement the SAFE Act. The NCCOB continues to have significant concerns that homeowners too often face foreclosure when alternative solutions exist that would benefit both the homeowner and the mortgage company or investor. NCCOB proposes rules that would:Read more

Lately, with each subsequent passing of the gavel of National Association of Mortgage Brokers (NAMB) leadership, it could be equated to a grown up’s version of the game Hot Potato. Legislation, proposed regulations, a downsizing and consolidating industry, attacks from the media, public scrutiny … the list of cons related to the broker industry seems to outweigh the list of pros for each successive NAMB president of late.Read more

AllRegs, an information provider for the mortgage lending industry, has announced that AllRegs’ 20-Hour Mortgage Loan Originator SAFE Comprehensive course (#1013) has been approved by the Nationwide Mortgage Licensing System & Registry (NMLS). The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) requires that pre-licensing and continuing education courses for state-licensed mortgage loan originators be approved by the NMLS.Read more