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Northridge, CA, United States
We are a full service mortgage brokerage with experience in the areas of mortgage lending, real estate and business. Our company has established relationships with many mortgage investors and banks to provide the best programs for your individual circumstances. We specialize in Conventional, Goverment, Investment, and Reverse Mortgage. We are experts regarding any FHA or VA (veteran) questions you may have. Post any questions or feel free to call our office 818-773-0033. If our clients don't fit into one of the many loan programs offered we promise to help them overcome the roadblocks that can stop them from securing a loan. When purchasing we suggest always getting a pre-approval early on to have ease of mind knowing what amount you will qualify for and make the loan process as smooth as possible.

Thursday, January 13, 2011

Mortgage Loan Originator Requirements (New Law)

Anyone acting as a mortgage loan originator (MLO) without and MLO license endorsement will be guilty of a crime punishable by six months imprisonment plus a $20,000 fine. And a broker cannot employ or compansate a real estate licensee for MLO activities unless that licensee has a license endorsement. This law has also given the Department of Realestate (DRE) the authority to deny or revoke a MLO license endorsement or take other action. This amends the MLO requirments for finance lenders and residential mortgage lenders under the Department of Corporation. Senate Bill 1137, effective January 1, 2011.

To verify if a Mortgage Company and Mortgage Loan Originator is licensed you can go to:

http://www.nmlsconsumermortgage.com
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