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Herman Thordsen

Herman Thordsen

Herman Thordsen is the principal and senior attorney of the firm which has been in existence since 1972 and his practice includes defense of those accused of mortgage fraud, real estate, foreclosure issues, buy-back demands or loss reimbursements lawsuits requested by mortgage lenders, FDIC, and others. Thordsen's articles cover a range of topics involving laws, cases and regulations as interpreted by state and federal courts, as well as the California Department of Corporations, Nevada Mortgage Lending Division, other state's regulators and the United States Department of Housing and Urban Development including issues on RESPA, TILA, Reg Z, and criminal indictments for mortgage loan fraud. The firm represents those charged with mortgage loan fraud in federal courts.
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No matter if you are a large mortgage banker or a small mortgage broker, your employees in California are covered under this law that goes into effect on July 1.
Make certain your loan officers do not go off on their own and cause your company to be disciplined by regulators.
This is what CFPB will be looking for to determine if a mini-correspondent really is a mortgage banker or a mortgage broker.
It has been nearly six years since the Seattle-based bank was seized and there is a deadline for the agency to sue anyone it believes owes the bank some money.
Mortgage originators do not meet two of the eight required tests to qualify for tax purposes as statutory employees.
Arizona has revised its education requirements while Virginia has introduced a new category of loan officer.
Law enforcement agencies are contacting state licensing agencies if someone who is regulated has gotten arrested.
But be aware of the business and regulatory risks associated with closing loans in your own name.
Unlicensed loan processor gets over six years in federal prison for his actions.
Be aware that the amount of borrower paid compensation cannot exceed the lender paid compensation.
The former Wells Fargo Home Mortgage loan officer faces up to 30 years in prison for his role in the conspiracy.
A cybersecurity firm claims many large and small mortgage lenders are being careless with customers’ personal and financial data.
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