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Mortgage Education News and Resources
Last Updated Wednesday, November 18, 2009 06:12 PM Texas Time

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Education Firms Tackle S.A.F.E. Requirements
Mortgage education providers are lining up courses to help originators meet upcoming state requirements under the Secure and Fair Enforcement for Mortgage Licensing Act of 2008. In other mortgage licensing activity, a huge net branch operation faced an order over unlicensed originators, while licensees in Florida and Pennsylvania face new requirements.

Allied Home Mortgage Capital Corp. and owners Jim and Kathy Hodge agreed to an Aug. 6 consent order with the Georgia Department of Banking and Finance. Cease-and-desist orders were rescinded as a result of the agreement.

The huge net branch operation allegedly operated with unlicensed originators, and the order requires the Houston-based firm to comply with the Georgia Fair Lending Act, O.C.G.A. 7-6A-1 et seq.
read full story


www.allregs.com

FHA Servicer Training Goes Online
Servicers that are approved to service loans insured by the Federal Housing Administration can now go online to learn about a range of servicing subjects.

Mortgage Education Dominated by NMLS
A host of education firms are rushing in to help loan originators meet new federal licensing requirements. Other available education resources for those in the mortgage industry include training on green lending, government underwriting and mortgage compliance.

Keeping High Producing Employees
A new banking study laid out a number of factors that inspire productive employees to stay with their current employers. The report suggests more needs to be done by banks to retain the best quality employees.

Reverse Wholesalers Help Brokers
Five of the biggest reverse mortgage wholesale lenders have joined an effort to educate mortgage brokers who are new to the business.

The FHA Insider
One of the few areas with consistent growth recently has been the origination of loans insured by the Federal Housing Administration. As government and industry call for more FHA resources, lenders and education service providers are capitalizing on the boom in FHA business.

FHA Daily
A net branch company is recruiting mortgage brokers by focusing on streamline refinances of loans insured by the Federal Housing Administration, while a tour has been launched to help loan officers boost their FHA productivity. Also on the market is an FHA book and a new certification for government underwriters.

The Compliance Ledger
An online library of state mortgage laws has been released by a mortgage education firm. Two alliances promise to help mortgage companies maintain better compliance, while SunTrust Banks Inc. has signed on to utilize a service that helps it comply with internal and regulatory requirements.

Help With Building FHA Business
Mortgage service providers are going all out to help lenders manage the origination and servicing of loans insured by the Federal Housing Administration.

Net Branches Boost FHA Programs
The self-proclaimed biggest U.S. mortgage broker recently grew by four branches. Other net branch companies are migrating toward government programs, while one branch operation has added free mortgage training to its list of benefits.

Wholesalers Tout Subprime, Hard Money & YSPs
Wholesale lenders are offering programs that include 80 percent loan-to-value with stated income, refinances for borrowers in foreclosure or Chapter 13 bankruptcy, and rebates up to 3 percent. Other subprime and hard money products are also being marketed. One wholesaler is training mortgage brokers how to originate commercial loans.


How will FHA Reforms Impact the Mortgage Industry?
On Oct. 14, 2009, MortgageDaily.com and Patton Boggs LLP hosted a webinar addressing the changes at FHA, including increased mortgagee liability and eligibility requirements, as well as appraisal issues and revised requirements for streamline refinances.
view full Vodcast and slides at Patton Boggs Client University
*online registration requires a company code of 8967403
*search the catalog for "FHA Webinar"