Lender Settles Allegations of Cheating on Exams
Executives at a mortgage banking firm are accused of collecting information about test exams and passing them on to loan originators. A multi-million-dollar, multi-state settlement includes the ouster of the chief operating officer.
State Licensed LOs Increase, Bank LOs Down
From the end of 2013 through the end of 2014, the number of state-licensed loan originators rose, while bank registrations declined. California saw dozens of firms lose their licenses.
Ongoing Obstacles for Ocwen
While a consent order reduces the threat of losing its California license, Ocwen Financial Corp. still has several hurdles to overcome.
California Seeks to Suspend Ocwen's License
Ocwen Financial Corp. is facing the possible loss of its license in California -- a development that could force it to give up nearly a quarter of its mortgage servicing portfolio.
State Licensing Requirements Comprehensive table of licensing requirements by state, including licensing for companies, licensing for individual originators and education requirements. Created by the Washington, D.C.-based mortgage law firm of Patton Boggs LLP.