Mortgage Lending Goes on the Road
Mortgage fraud, mortgage compliance and reverse mortgage lending are among topics being addressed at mortgage conferences. Mortgage licenses, mortgage leads and mortgage legislation are the areas of focus at several other events. Much of the latest activity is happening in the nation's capitol.
From May 13 to May 15, the Fourth Annual Fraud and Forensic Accounting Education Conference will be held in Atlanta, a February news release indicated.
The convention is being sponsored by the accounting firm of Porter Keadle Moore and Georgia Southern University in conjunction with the Center for Forensic Studies in Accounting and Business.
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Lenders Issue SAFE Warning
Mortgage bankers claim the government is going too far by applying the Secure and Fair Enforcement for Mortgage Licensing Act to servicing employees who handle loan modifications. They are also concerned that federally insured institutions, which are not subject to the same requirements as state-licensed entities, will have an unfair advantage in attracting employees.
HUD Delays SAFE Deadline Due to Weather
The U.S. Department of Housing and Urban Development cited recent weather conditions in its decision to extend a deadline for the Secure and Fair Enforcement Mortgage Licensing Act of 2008.
Licensees Face Legislation, State Actions & SAFE
As states adopt local and federal mortgage licensing legislation and implement criminal background checks, the Nationwide Mortgage Licensing System is holding a user conference in California. A mortgage company that was operating without a license in Michigan has been shut down.
The FHA Journal
The Federal Housing Administration advised mortgagees about new requirements under the Secure and Fair Enforcement for Mortgage Licensing Act of 2008, while a new FHA rehabilitation program is now available to borrowers in the Southwest. Two firms announced their approval as FHA mortgagees, and several service providers hope to help them with business.
Regulators Close Bank, Credit Union and Mortgage Firm
Florida bank regulators closed down a small Fort Myers bank, while Rhode Island regulators closed a mortgage company over unlicensed originators and a Nevada credit union was seized by its regulator.
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.
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.
California Enacts Several New Mortgage Laws
Loan originators, reverse mortgage lenders and appraisal management companies are all impacted by sweeping new mortgage laws in California. Lenders to non-English speaking borrowers and lenders on higher priced loans are also impacted.
New Trade Group Seeks to Level Playing Field
A new mortgage association hopes to level the playing field between national mortgage banking firms and behemoth financial institutions. Among current disparities are application of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008.
