The National Reverse Mortgage Lenders Association has announced the development of a new trade website, NRMLAOnline.org, that it terms "a comprehensive resource for lenders that are adding new sales staff or just entering the business and want to know how to be successful."The new site features a Reference/Publications section with links to articles on such topics as getting started in the reverse mortgage business; marketing and origination; processing and underwriting; and industry statistics. Other features include: a Vendor Directory with contact information for NRMLA members that provide ancillary services such as title insurance; a NRMLA section with links to membership information and the association's Code of Conduct and Best Practices; and an Events section with information on programs and conferences. The new site can be found at http://www.nrmlaonline.org.
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Under the proposed rule, the definition of a manufactured home would allow upper floor sections to be transported and constructed without a permanent chassis.
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Even though the SAFE Act does not require AI loan officers licensing, other laws, as well as regulators, still look for a person to be responsible.
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The government-related market's push has intensified efforts to draw up classic FICO comparisons or set up interim rating policies pending more data.
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The changes provide standardized appraisal guidance in advance of a mandatory compliance date to a new reporting format in November this year.
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Provident Bank says My Mortgage used a $10 million line of credit to fund dozens of ineligible, dilapidated properties and sold them to their own employees.
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OneTrust Home Loans says its employees secretly used Floify to funnel loans to brokerage E Mortgage Capital, which were then funded by the wholesale giant.
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