Massachusetts just recently passed legislation making additional requirements for prospective licensees. Among those changes were audited financial requirements, increased bond requirements, and other minor changes. This has made it difficult for smaller mortgage brokers to get licensed since they do not have they time or money to complete audited financials. Massachusetts has now passed another [...]
As published in Scotsman Guide Magazine, Titled: Know What's Needed to Cross State Lines The first thing to keep in mind when deciding to get licensed in multiple states is that every state is different. Mostly in the last 10 years, every state has come up with their own licensing scheme. The state congress passess [...]
Public comments on the FHA Reform Bill in the Senate is closed today, October 22, 2007. Already passed by the House with an overwhelming majority, it is expected to pass in the Senate by mid-November. The Expanding American Homeownership Act of 2007 will bring about many changes to FHA loan origination. The most important changes [...]
With the housing market collapsing in the last few months, are there any places in the United States left to originate mortgage loans? If you're asking this question, you're not alone. Every mortgage company in the nation is asking the same question. Fortunately the answer is yes. Here is a list of the top areas [...]