Posts Tagged ‘ can’t qualify for conventional loan ’

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NMLS News Feed

• NMLS is Being Outfitted for Non-Mortgage Industries
  The Conference of State Bank Supervisors (CSBS) and its affiliate – the State Regulatory Registry LLC (SRR) – have announced plans to enhance the use of the NMLS to accommodate state use of the System for non-mortgage, non-depository financial services industries. This will give states the ability to use NMLS to license or register entities […] […]
• Featured Speakers at NMLS Conference
  The fourth NMLS Annual Conference & Training is bringing together over 99 state regulators from 50 state agencies as well as federal regulators from the CFPB, FDIC, and NCUA. Featured Speakers: CFPB and the Supervision of the Mortgage Industry for Depositories and Non-depositories Peggy Twohig Assistant Director for Non-depository Supervision, Consumer F […]
• 2012 Renewal
  The 2012 NMLS Streamlined Renewal Process is underway. This year, over 16,000 companies and 115,000 state-licensed mortgage loan originators, holding licenses from one or more of the 58 state agencies using NMLS, are eligible to renew their licenses for 2012. Additionally, over 10,000 institutions and about 250,000 federally registered mortgage loan originat […]
• NMLS Annual Conference
  The fourth NMLS Annual Conference & Training will be held in Scottsdale, Arizona on February 6-9, 2012. With over 400 attendees last year, the NMLS Annual Conference has become a must attend event for banks and nonbank companies that employ mortgage loan originators and are interested in state and federal mortgage supervision. The 2012 Conference […] […]
• Continuing Education for 2011 (STATE)
  The SAFE Act requires state-licensed MLOs to complete 8 hours of annual continuing education. Some states have additional requirements (see the State-Specific Education Requirements Chart). So far in 2011, MLOs have completed 270,471 hours of continuing education (CE). Roughly 40% of the estimated 85,000 MLOs who are required to complete CE are now compliant […]

Mortgage Daily News Feed

• SF Drives Up Completed Constr, MF Leads Starts Up
  Multifamily led a surge in new construction last month, while single-family activity drove up completed construction. But activity is likely to slow based on new permits.Permit-issuing places authorized the construction of 114,800 new privately owned housing units during August. That brought year-to-date permits to 900,100.The new construction data was based […]
• Slight Escalation in Serious Mortgage Delinquency
  The Federal Reserve Bank has unloaded its last holdings in a fund it created during the financial crisis to enable JPMorgan Chase & Co. to save Bear Stearns Companies Inc. from collapse. The fund generated a profit of $2.5 billion.Maiden Lane LLC was formed in 2008 by the Federal Reserve Bank of New York to facilitate the sale of Bear to Chase by removin […]
• Refinance Share of Mortgage Originations Widens
  A bigger share of borrowers who closed on their home loans last month were refinancing an existing mortgage than the preceding month. Closing rates climbed to a 12-month high.Two-thirds of all single-family loans that were closed during August were conventional mortgages. Conventional share has widened from the same month last year, when it was 64 percent.On […]
• Mortgage Applications Rise 1st Time in 4 Weeks
  Mortgage applications improved for the first time in four weeks. As rates ascended to the highest level in seven years, more prospective borrowers opted for an adjustable-rate.New applications for residential loans submitted to retail lenders during the week ended Sept. 14 rose from a week prior by a seasonally adjusted 1.6 percent.Mortgage application activ […]
• Lender Blames CT Bank Regulator for Layoffs
  Overzealous licensing requirements in Connecticut are being blamed for the termination of a home lender's planned headquarters expansion and dozens of layoffs.Hartford-Connecticut-based 1st Alliance Lending LLC had a plan in place to expand it headquarters in the state. But it had one hurdle to overcome.1st Alliance says that the Connecticut Banking Dep […]