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Mortgage Education News and Resources
| Last Updated |
Saturday, June 06, 2009 |
03:19 PM |
Texas Time |
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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.
Flagship Financial Services recently announced an FHA streamline program for mortgage brokers who want keep ownership of their branch while benefiting from the marketing power of a large company.
The program includes direct mail pieces, scrubbed mailing lists and scripts with proven conversion rates higher than 20 percent.
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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.
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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. |
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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.
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News About Lending Licenses
License issues by state. Coverage of lending license revocations, broker licensing legislation and other licensing issues.
www.MortgageDaily.com/Licenses.asp
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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. |
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Originators Certifiable
Loan originators can enhance their image with a seal of approval from various mortgage organizations.
FHA Wave Builds
As legislation that will improve government mortgage programs makes its way through the nation's capital, a number of organizations are sprouting up to help mortgage companies that want to capitalize on this growing sector.
Mortgage Licensees Diminish
New laws designed to make it tougher for mortgage brokers and loan officers to be licensed are living up to expectations in at least two states -- leading to fewer licensed originators. Washington will soon administer written tests to applicants, a process that will likely weed out more brokers and loan officers.
Borrower Education Endorsed
Lenders endorsed a set of standards for professional mortgage counselors. The standards, intended to help borrowers avoid the expected onslaught of foreclosures, come on the heels of a set of servicer principles promoted by a U.S. senator and supported by most big mortgage bankers.
FTC Touts '06 Mortgage Actions
Actions by the Federal Trade Commission last year led to a bankruptcy filing by a subprime mortgage executive and an expansion of educational material for mortgage prospects.
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