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Mortgage Broker Licensing Article
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Where to Find a Mortgage Lender
from: Deb St. George - HomelessInKingCounty.comIf this is your first time buying a house, you probably are trying to figure out where to get a mortgage lender. Often, people don’t go looking for a mortgage lender until they’ve looked at some houses for sale. However, that may be a mistake in this economic climate. You may end up finding the perfect house and realizing only too late that you can’t find a mortgage lender to qualify you for a loan. So, start early to look for a mortgage lender and have all your documentation in order to make the purchase less stressful and more efficient over all.
Mortgage Brokers
You can start the process by either looking in the phone book for local mortgage brokers or contacting the local board of realtors to get a listing. Either way, you will find many different mortgage broker companies listed that can help you find a great mortgage professional. Another more reliable way is to get a reference for a mortgage lender from someone you know. Sit down with the mortgage lender early to find out how much house you qualify for or whether there are any issues that will keep you from getting a mortgage that need to be resolved.
Online Mortgage Lenders
There are broker listing agencies on the Internet, like lendingtree.com, that allow you to put in your information for people in the mortgage industry to bid competitively for your business. This can be a great way to get acquainted with whether you make an attractive client or whether you get few offers and poor terms. Then, you can start to address the issues and try again later, if it doesn’t work out. Getting a mortgage is a lengthy process and don’t be too upset if they ask you for paperwork that may seem redundant. It’s in their interest to verify your loan and ability to pay your projected mortgage and it can save you the problem of buying more than you can afford.
Realty Agents
If you are already in the process of home shopping, you can ask your real estate agent to hook you up with a mortgage broker. This isn’t the preferred method, as you have no idea what type of business relationship a real estate agent might have with a particular mortgage lender. The one they steer you to might not be the best lender, but rather one they are receiving some sort of payback from by steering business to them. Although this isn’t always the case, it’s something to be aware of when trying to find a reputable mortgage broker who can offer a competitive bid.
Mortgage Broker Licensing News
Mortgage loan officer licensing has reduced choices for Ohio consumers - Plain Dealer
 Plain Dealer | Mortgage loan officer licensing has reduced choices for Ohio consumers Plain Dealer Since Ohio started licensing mortgage brokers and loan officers in 2002, the number working in the industry has plunged because of licensing requirements and the economic crisis. Government leaders in Cleveland and statewide started trying to crack ... Number of mortgage loan officers slides in Ohio |
BRIEF: Vegas man agrees to $5000 fine for unlicensed activity - Chicago Tribune
BRIEF: Vegas man agrees to $5000 fine for unlicensed activity Chicago Tribune The $5000 is less than the $125000 fine sought in the original complaint filed last year that also sought to revoke his license. Giscombe had been licensed as a mortgage broker but did not renew his license when it expired in June 2007. |
NMP Mortgage Professional of the Month: Danny Nicolo, President and CEO of ... - National Mortgage Professional Magazine
 National Mortgage Professional Magazine | NMP Mortgage Professional of the Month: Danny Nicolo, President and CEO of ... National Mortgage Professional Magazine In 2004, he applied for his New York State Mortgage Brokers License and in 2008, applied for his New York State Mortgage Bankers License. Danny is currently president and chief executive officer of New York-based Meadowbrook Financial Mortgage Bankers, ... |
Zillow Introduces Zillow Partnership Platform - MarketWatch (press release)
Zillow Introduces Zillow Partnership Platform MarketWatch (press release) Update active listings and remove stale information as frequently as the MLS or broker allows. Always show the listing broker, listing agent and the listing source. Never re-syndicate, redistribute or sub-license listings without permission. |
The CFPB already has how many employees? And LO's wonder... - Mortgage News Daily
The CFPB already has how many employees? And LO's wonder... Mortgage News Daily In addition to new background checks for mortgage brokerages and companies, the rules would also obligate LO's to print their license and registration numbers on documents - not a bad thing in itself, but... The next seven months will be a busy time ... |
2012 NAR Member Survey Shows Rising Incomes - RealEstateRama (press release)
2012 NAR Member Survey Shows Rising Incomes RealEstateRama (press release) Members licensed as brokers typically earned $48400 in 2011, while the median for sales agents was $27200. Higher median income was reported by experienced NAR members in the business for 16 years or more, who earned $50200. Realtors® working 60 hours ... |
Schwab Announces Envestnet | Tamarac(TM) as Selected Participant in Schwab ... - MarketWatch (press release)
Schwab Announces Envestnet | Tamarac(TM) as Selected Participant in Schwab ... MarketWatch (press release) "We have a long relationship with Tamarac, including their licensing of Schwab Performance Technologies' PortfolioCenter(R), and we look forward to the additional benefits we will be able to provide to clients." "Integrating Tamarac Advisor CRM and our ... |