Senior Lending Network introduces proprietary reverse loan products to New York

National Mortgage Professional

Jun 23, 2008

Massachusetts adopts regulations for new mortgage loan originator lawMortgagePress.comMassachusetts Division of Banks, MLO, mortgage originator law The Massachusetts Division of Banks has adopted implementing regulations to establish procedures and requirements for licensing under its new mortgage loan originator law. Under the new regulations, loan originator applicants are required to submit documentation of their financial responsibility, character and fitness and proof of completion of pre-licensing coursework. In addition, under the new regulations, a loan originator must disclose his/her mortgage loan originator license number in writing to all potential borrowers and residential mortgage loan applicants at the time a fee is paid or when a mortgage loan application is accepted. The implementing regulations became effective on May 30, 2008. For a copy of the new regulations, click here.

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Jun 23, 2008

Non-QM

Non-QM Lender Arc Home Hires Former Sprout President

Shea Pallante, who told Sprout employees the company was closing via a conference call last July, is Arc's new chief production officer.

The former president of Sprout Mortgage, which abruptly closed in July 2022, has landed a new job in the Non-QM marketplace. Arc Home LLC, a Mount Laurel, N.J.-based Non-QM and non-agency wholesale and correspondent lender, said recently that it has appointed Shea Pallante ...

Analysis and Data

RE/MAX: February Home Sales Rose 1st Time In 6 Months

Housing inventory levels increased year over year for the 10th consecutive month.

While they remain down 24.4% year over year, home sales in February increased 16.8% from January, according to a monthly report from RE/MAX. The national real estate company said the nearly 17% jump was the largest month-over-month increase in 11 months and ended a five-mo...