Archive for Mortgage Brokers

Nationwide Mortgage Licensing System Consumer Access Goes Live

With the passage of the SAFE Act nearly 2 years ago, the entire mortgage industry has taken steps toward licensing loan officers and managing that licensing process.
And now consumers can easily lookup the information in the NMLS system with the launch of NMLSConsumerAccess.org. The NMLS Consumer Access site gives consumers free access to data regarding [...]

HVCC – NAMB Update – HVCC on the ropes!

We have HVCC on the ropes so we need your help more than ever!

On Wednesday, October 21st, the National Association of Mortgage Brokers used this petition hvccpetition.com to help convince the House Financial Services Committee to pass an amendment that will finally put an end the mess that HVCC has been making of the real [...]

HVCC Update – NAMB Legislative Alert: HFSC approves CFPA by a 39-29 margin

The House Financial Services Committee (HFSC) has approved HR 3126, the “Consumer Financial Protection Agency Act of 2009” by a vote of 39-29.  The National Association of Mortgage Brokers (NAMB) commends and appreciates the participation of its membership in the Calls-to-Action by contacting representatives and urging them to vote for specific amendments to the bill. Two important [...]

Wells Fargo Accused of Colluding With An Appraiser Service, Rels Valuation

A lawsuit has been filed against Wells Fargo accusing the lending company of colluding with an appraiser service, Rels Valuation. Both Wells Fargo and Rels Valuation are owned by the same parent company. Wells Fargo is accused of requiring that borrowers use Rels Valuation for appraisals. Rels Valuation would then use third-party appraisers and require [...]

New Mortgage Broker Regulation We Need To Stop

The reason for this memo, a regulatory call to action, deals with a nearly silently adopted regulation which could very well be the most dangerous restriction ever placed on the mortgage industry.  It literally threatens to eliminate mortgage brokers almost overnight.  We have to act now to stop it, because the commentary period on the [...]