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  1. Mortgage Brokers and Mortgage Lenders in Virginia Subject to Revised Bond Amounts

    ... to maintain books, accounts and records, and a mortgage loan transaction journal ►A requirement to file quarterly mortgage call ... well as the license or Registry number of the mortgage loan originator ►The address of the office that originates the loan ►The ...

    Todd Bryant - 2017-09-21 16:32

  2. News From NAMB: February 2, 2017

    ... settlement service involving a federally related mortgage loan shall be referred to any person.”   They did not mention ... what they believe is best for them. Can You Act as Originator and Realtor in Same Transaction? First, it depends on what ...

    John Councilman - 2017-02-02 16:14

  3. Cordray Credits CFPB With Post-2008 Housing Success

    ... we have put in place around underwriting, servicing, and loan originator compensation have improved industry performance, promoted ...

    Phil Hall - 2016-10-25 15:10

  4. Advertising Compliance: Getting Ready for the Banking Examination (Part One)

    Advertising is often central to a loan originator’s marketing plans. After all, if prospective borrowers cannot even ... the reasons for their imposition, and the salesperson’s compensation from cross-sales. The audience for the advertisement is ...

    Jonathan Foxx - 2016-07-14 12:00

  5. NMP's Visionary Organizations 2016

    ... for underserved clientele, offering a comprehensive suite of loan products and financial services. The company’s success and growth is ... for the employees first with a vision to treat the loan originator as the client. When the financial crisis was in full swing in ...

    NationalMortgageProfessional.com - 2016-05-10 10:41

  6. News From NAMB: December 10, 2015

    ... say CFPB examiners will spend "a lot of time" looking at 1. loan officer compensation plans, 2. compliance with ability-to-repay rules, 3. ... Can You Close a TRID Loan in Seven Days? At least one originator on LinkedIn says she just closed a loan in seven days. According ...

    John Councilman - 2015-12-10 17:00

  7. News From NAMB: August 6, 2015

    ... make small mortgages As any broker knows, on a $120,000 loan, the most you can make is 2.75 percent or $3,300. If your originator’s minimum is set at $1,500, you have about $1,000 in lender fees ...

    John Councilman - 2015-08-06 14:40

  8. NAMB Perspective: May 2015

    ... From NAMB” brings industry news geared specifically to the originator. ► NAMB continues to be a powerhouse in legislative and ... it with each customer. Many of us have looked at the new Loan Estimate Form that replaces the current Good Faith Estimate (GFE) and the ...

    NationalMortgageProfessional.com - 2015-06-10 12:00

  9. Loan Officer Compensation Based on Referral Sources

    ... Regulation Z as codified by the Dodd-Frank Act prohibits loan origination compensation based on transaction terms, such as interest ... a significant number of transactions; and, ►The loan originator has the ability, directly or indirectly, to add, drop, or change the ...

    Michael G. Barone - 2014-10-02 17:03

  10. The Strange Case of the Shrinking Mini-Correspondent: A Primer on Forensics

    ... to charge fees between two percent and three percent per loan transaction; however, under the foregoing requirements, any excess above ... incentive for many brokers to morph into a new kind of loan originator, termed the “Mini-Correspondent.” In September 2013, in ...

    Jonathan Foxx - 2014-07-23 14:17