If You’re Going to Claim to “Owner Occupy” Your Home, You Better Mean It

More and more, people are finding that their intent to occupy a home when getting a mortgage may not mean what they think it means.  More and more, loan officers are also finding out that it may not mean what they think it means.  One of the Mortgage Loan Officer national testing questions asked what intent to occupy meant and the correct answer, for testing purposes, was that the buyer would have to move in within 60 days.  Now, both on refinances and on purchases, it’s becoming important to know how long one will be staying there as well. While …

Does Your Loan Officer Wear Lime Green Polka Dotted Underwear?

Okay, perhaps that’s a little TOO much information!  Perhaps you really don’t need to know what splash of color your loan officer is bestowing on his or her bloomers on any given day. But what you SHOULD know is who your loan officer IS. Let’s see….scum bucket, slime ball, scammer, fraud frog…any of these ring a bell?  They do to a whole lot of people, as our industry has been historically speckled with less than scrupulous loan officers committing fraud and scamming the innocent.  Unfortunately, those LO endearments have, in many cases, been very well founded.  (And how embarrassing that …

Bank LO’s vs SAFE Brokers and Lenders… oh my!

Alright, alright, alright…  MOST everyone in Mortgage and Real Estae has heard about the S.A.F.E Act right?  The Secure And Fair Enforcement for Mortgage Licensing Act was passed into law a while back but in last stages of being implemented RIGHT NOW.  There’s a bit of a rush going on right now as its supposed to be completely implemented by January. All originators from coast to coast need to get on the list and registered.  Some LO’s (Loan Originators) will need much more.  There’s 2 distinct groups of LO’s and I’ll try to provide direct clear hyperlinks… (mostly for the LO’s who don’t need education and …