Monthly Archives: September 2007

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25 09, 2007

Texas Entity Applications Available

September 25th, 2007|Mortgage Licensing News, NMLS|

UPDATE: Texas is on the NMLS now Are you a licensed mortgage broker in the state of Texas? Does the compensation that you make on a loan go to your corporation or LLC? If so, you now need to get your mortgage corporation or LLC licensed. The applications just posted last week. If you're in [...]

24 09, 2007

Mortgage License Update

September 24th, 2007|Loan Originator Licensing, Mortgage Licensing News|

Loan Officer Licensing may be a required very soon in all states. Loan Officer Licenses among other things have been introduced to in the Congress as a may to reduce fraud and increase responsiblity nationwide. If passed, this bill would require all states that do not currently have a loan officer licensing scheme to set [...]

22 09, 2007

FHA Approval May Get Easier

September 22nd, 2007|FHA, HUD, Mortgage Licensing News|

Expanding American Homeownership Act of 2007 has been passed by the House and will most likely be passed by the Senate and signed by the President after a few minor adjustments. This is the biggest change to FHA that has occured since it inception. If the House has it's way, this would actually change the [...]

18 09, 2007

Massachusetts Adds New Requirements

September 18th, 2007|Mortgage Broker Licensing, Mortgage Lender Licensing, Mortgage Licensing News|

Massachusetts has now added new surety bond and financial requirements for mortgage broker and lender licensees. NOTICE - MORTGAGE LENDER AND MORTGAGE BROKER APPLICANTS Please note that the recent amendments to 209 CMR 42.00 et seq. have been finalized as of September 7, 2007. All mortgage lender and mortgage broker license applicants filing on or [...]

11 09, 2007

Nationwide Mortgage Licensing System

September 11th, 2007|Mortgage Licensing News, NMLS|

State mortgage regulators from around the country have been working since 2004 to develop a nationwide licensing system for the residential mortgage industry that will improve supervision of the mortgage industry, streamline the licensing process for mortgage companies and professionals, and enhance consumer protection. The Nationwide Mortgage Licensing System (NMLS) is a web-based system that [...]

11 09, 2007

Kentucky Nationwide Mortgage Licensing System

September 11th, 2007|Mortgage Licensing News, NMLS|

Starting Jan. 2, 2008, the Office of Financial Institutions (OFI) will join with several other states across the country in participating in the Nationwide Mortgage Licensing System (NMLS). The NMLS was developed by state regulators through the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR). Important information about [...]