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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The real estate investment trust, while reporting a first quarter net loss, benefitted from growth and stable margins in its three mortgage production units.
5m ago -
The co-author of the landmark Dodd-Frank Act and progressive Congressional trailblazer Rep. Barney Frank, D-Mass., has died.
13m ago -
The newest version of the House housing bill would make a ban on institutional investors owning some homes less harsh than the Senate version by removing a seven year mandate on selling build-to-rent homes.
May 19 -
Economic uncertainty and higher rates in April contributed to the first decline in applications for new homes on an annual basis since October.
May 19 -
Eligible buyers and sellers can save up to $20,000 on their next home when they transact with a Redfin agent and finance with Rocket Mortgage.
May 19 -
Inflation and a possible Fed move impacting rates are concerns that product innovation and housing policy can help with, leaders said at an industry meeting.
May 19









