The National Association of Mortgage Brokers has rolled out a trio of six-hour online professional training programs designed to help its members earn their Lending Integrity Seal of Approval. NAMB requires all members to meet the requirements to earn the seal by 2009. TrainingPro, Hunt Valley, Md., developed the courses. "These new classes reinforce NAMB's ongoing commitment to the highest level of professional ethics," said NAMB president George Hanzimanolis. "By making the classes available online, TrainingPro has made the high standards of the Lending Integrity Seal attainable for all brokers and originators." All three courses have a two-hours ethics component. Course 1 also discusses fair lending and consumer privacy, Course 2 covers FHA lending and Course 3 talks about recent industry developments and mortgage fraud. "Now, more than ever, it is essential that mortgage brokers, originators and other financial professionals have the continuing education they need to serve their customers," said Chris Nickerson, chief executive of TrainingPro. For more information about NAMB and the Lending Seal of Approval, visit http://www.namb.org/ and http://www.lendingintegrity.org/.
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The Senate passed a bipartisan housing package, which includes certain community bank provisions, in an 85-5 vote. The House is set to vote on the package Wednesday.
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Ralo uses artificial intelligence to automate the entire process, saving consumers money by cutting out commissioned loan officers, processors and underwriters.
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Part of the proposal affects the risk weighting for certain "investment properties and other cashflow-dependent" mortgages, according to a new Pennymac report.
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William Isaac led the Federal Deposit Insurance Corp. through the banking and thrift crises of the 1980s and was a frequent commentator on bank regulation after his time in public service.
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The longtime Federal Reserve chair served under four presidents and presided over the deregulatory and pro-market push of the 1990s and early 2000s that set the stage for the 2008 mortgage crisis.
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Life insurers have offloaded long-term policyholder liabilities into offshore reinsurance and captive subsidiaries, raising concerns over state oversight of opaque investment vehicles and whether insurers have adequately funded claims.
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