Today is Friday, March 12th, 2010
At the beginning of every law, there’s a preamble and then a set of definitions. Many of you know this: A mortgage broker is not a lender.
A lender is defined by federal law, RESPA, as an entity that makes loans. This means the entity has the money to fund the loans.
Brokers, by definition do not [...]
I agree with you about moving towards a more professional acceptance of the fiduciary responsibility - it will make more ...
The protection for the consumer from goverment is welcome, of couse, the time consumed would be a function of direct ... Well, it would sure help if they did these earlier; however, I don't think it would change a great deal ... Definitely, it will help consumer greatly and make sure those greedy LO or brokers to cheat innocent people. It also ... I argree with Kimberly on that. I like the changes, at least there is a law added to watch those unethical and unprofessional conducts and will ... It's good there are many options of loans, but the hardmoney loan just not practical for most of people. It sounds great program. I learned something and have more chances working for my friends who seeking a loan to ... The VA loan sound very reasonable; however, the incentive from bank not very attractive. They could do it since they have downpayment, and as long as they inverst a property under 400k, it would ...