The most charitable thing a mortgage company did this year happened when MetLife, a bank holding company, paid for its residential loan officers to receive training and education in preparation for passing their state licensing tests. Of course, it might be argued that MetLife was merely trying to make selling its mortgage division easier by having its army of LOs become 'nonbank' legal. (Bank LOs only need to register with the states and are exempt from testing.) Needless to say, it appears the LO profession now has two tiers: nonbank-ready versus not-ready. This means nonbank LOs can easily go work for a depository, but the door doesn't swing open in the other direction – unless the bank LO takes the initiative to get tested. MetLife made it easy for its LOs by footing the testing bill. Will other banks do the same?
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New jobs in health care largely drove the gains, while the federal workforce and finance continued to shrink.
April 3 -
Finance of America has not disclosed any incident, but a consumer filed an immediate lawsuit over a lone report of a ransomware gang's recent hack.
April 3 -
United Wholesale Mortgage lost ground to RKT in one category but held onto a healthy lead in another, an analysis of Home Mortgage Disclosure Act data shows.
April 3 -
HECM endorsements rose 16% in March to 2,117 loans, but monthly volumes remain near their slowest pace since last summer as proprietary reverse products quietly steal market share.
April 2 -
Which parties are responsible for the surge persisted as a source of debate as community lenders released updated survey data reflecting their average expense.
April 2 -
The 30-year fixed rate climbed to 6.46% this week, its highest mark since September, as mortgage applications fell 10.4% and sellers outnumber buyers by a record 46%.
April 2









