loan officer

Being a loan officer can be a very fun and rewarding career choice. You get to help those that come to you wanting to buy their very first car or maybe even their first home. The look that is on their face is one that you will appreciate and know that you have helped someone that needed it. But some might be wondering about becoming a loan officer and the training that is involved. Becoming a loan officer is something that takes more intuition and brain power than it does simply a degree. You don't even need a degree for becoming a loan officer, just a high school diploma or GED. Becoming a loan officer does take some work even though you don't have to go to college or a special school. To become a loan officer you have to like helping people and have the patience that is required to handl

An elephant is one of the most powerful animals on the planet. BUT, a little rope around his ankle will keep him at bay. How does this relate to a Loan Officer? You’re about to find out. More: continued here

Loan Officers need to learn to smile more. When you’re smiling, people feel at ease. When people like you, they remember you. And to grow your business, you want people to remember you, right? More: continued here

Hundreds of years ago map makers would sketch pictures of dragons on maps as a sign to sailors that they were entering unknown territory at their own risk. Many took these sketchings literally and were too afraid to ever venture into these areas. However, some sailors took these sketchings as a sign of opportunity. More: [...]

Are you a Loan Officer that has ever said, “I don’t have enough time”? Have you stopped and really thought about what message you’re sending when you say that? More: continued here

An elephant is one of the most powerful animals on the planet. BUT, a little rope around his ankle will keep him at bay. How does this relate to a Loan Officer? You’re about to find out. More: continued here

Most Loan Officers, when they first get in the mortgage business, always want reassurance they’re doing the right thing. If they don’t get the reassurance, they tend to back off from what they are currently doing and eventually, may even stop doing anything! When they stop doing anything, they won’t have business [...]

Hundreds of years ago map makers would sketch pictures of dragons on maps as a sign to sailors that they were entering unknown territory at their own risk. Many took these sketchings literally and were too afraid to ever venture into these areas. However, some sailors took these sketchings as a sign of opportunity. More: [...]

Loan Officers need to learn to smile more. When you’re smiling, people feel at ease. When people like you, they remember you. And to grow your business, you want people to remember you, right? More: continued here

I get a lot of emails from loan officers who are currently working for a mortgage company, but are looking to advance their career and go out on their own. When they see the kind of money that can be made in this business, its no wonder they arent satisfied with their 50% commission spread (or even less!). When I first started in the industry, my commission spread was 20% of the yield spread premium or YSP. And, if that wasnt bad enough, we worked on teams of three people.

As a mortgage broker, one of your main advantages is that you have access to many different lenders and hundreds of loan programs, which you can offer your customers. Having too many lenders to deal with--however--can become one of your biggest problems. As the person between the borrower and the bank, youre responsible for dealing with the myriad of third parties involved in the transaction. Youre dealing with appraisers, title companies, attorneys, underwriting, wholesalers, etc.

One question I get asked a lot is How do I approach Internet mortgage leads? As you may already know, I generate 90% of my business directly from these types of leads and have found them a great resource for several reasons: * When you call people, they are ready to buy. * People will take your calls and even return your messages, because they actually inputted the lead and it is not a cold call.

Each week, I receive countless emails from loan officers dissatisfied with their small commission checks, looking for something better within the industry. Theyve learned the mortgage business inside and out, and have made the necessary sacrifices to put their career on firm standing. Not satisfied with the measly yield spreads and basis points their current company is paying, they look at other options and a way out.

Sent to everyones email box in the office… More enjoyable than the email, was the expressions on peoples faces are they tried to figure it out.   The knock-on effect from the sub prime crisis is being severely felt in the Japanese market and shows no sign of letting up. In the last 7 days: Origami Bank has folded, Sumo Bank has gone belly up and Bonsai Bank has announced plans to cutback some of its branches. Yesterday it was announced that Karaoke Bank is up for sale and more than likely will go for a song. Today shares in Kamikaze Bank were suspended after they nose-dived and 500 back-office staff at Karate Bank also got the chop. Analysts report that there is something fishy going on at Sushi bank and staff fear they may get a raw deal.     Bookmark this article:

 In the following press release the Georgia Department of Banking and Finance announced that on October 10, 2007, the Georgia DBF’s (“Department’s”) Order to Cease and Desist issued to Richard Steele of Monroe, Georgia, became final. Mr. Steele was issued an Order to Cease and Desist by the Department for making misrepresentations in loan files submitted to mortgage lenders. Pursuant to state law that was in effect when the violations underlying the Order to Cease and Desist were committed, the Department may revoke the license of a mortgage broker or lender that employs an individual against whom a final Order to Cease and Desist has been issued within the preceding three years if the Order resulted from misrepresentations being made in loan documents.A copy of the Order to Cease and Desist issued to Mr. Steele can be accessed on the Department’s website by clicking here

Would you like to offer the services of Certified Notary Signing Agent to your client in Southwest Florida, especially knowing that this very special client of yours will be handled with the utmost care!  That way they can have the loan documents signed at their convenience, not the title companies.  Having been used as a Certified Notary Signing Agent for witness signings in over six hundred loans, and about two hundred of them being Reverse Mortgages, you know your client will be in good hands.  Although I have actually closed Reverse Mortgages for about six different different title companies, the bulk of my signings were for All Reverse Title, and Omni Home.  The majority of these were HECM, but I have also done Jumbo Reverse Mortgages as well.  Most were funded by Financial Freedom or James B Nutter.  If you want a professional, detail oriented, Certified Notary Signing Agent to go to your client anywhere in the Sout

Judy Brumble, loan officer and ostensible real estate agent, was charged in a superceding indictment for her role in a 25 million dollar mortgage fraud scheme. Brumble is now the 9th defendant in the pending action. Those already indicted on May 17, 2006, include: F. Jeffrey Miller, Real Estate Developer in Lee’s Summit, Missouri; Steve Middleton, real estate agent; Todd Earnshaw, loan …Read More...

Low Mortgage Rates in Texas Starts With The Loan OfficerBy: Steve KylesFor many Texas families looking for a first mortgage, the proposed mortgage rate can often be the one determining factor in whether or not the desired home is affordable. A low mortgage rate in this day and age is no longer a desire, it is a necessity. Low mortgage rates can make it possible for families to realize the dream of home ownership. With the cost of living increasing much faster than the standard rate of pay, a low mortgage rate means financial stability.Finding a low mortgage rate in Texas starts with the mortgage loan officer. Low mortgage rates aren't under every mortgage loan officer's pillow, as some are bringing rates to the table which are nearly twice as high as other mortgage loan officers. What exactly is the difference? The higher the mortgage rate and the more the process costs you, the more business a mortgage loan officer is likely to earn if they are paid strictly on commission. Bad news

In the following press release the Georgia Department of Banking and Finance  announced that a Cease and Desist Order issued to loan officer Mark Raphael Rice of Atlanta, Georgia, became final.Mr. Rice was issued a Cease and Desist Order by the Department for making misrepresentations in loan files submitted to mortgage lenders and for possessing loan documents signed in blank by borrowers. Rice made these representations whilst employed by First Integrity Mortgage Corporation and concerned loans brokered to Union Planters and Novastar.Click here for the Cease and Desist OrderClick here for the a copy of the Decision which includes the facts of the case.Pursuant to state law, the Department may revoke the license of a mortgage broker or lender that employs an individual against whom a final Cease and Desist Order has been issued within the preceding three years if the Order resulted from misrepresentations being made in loan documents.

The United States Attorney’s Office in Fort Wayne, IN announced in a press release that JUSTIN L. STUCKEY, age 34, of Fort Wayne, Indiana, is charged in a five count Indictment with wire fraud on April 17, 2002 through June 21, 2002. According to the Indy Star the case involves the procurement of 55 properties for a father and son. The indictment returned Thursday charges that Justin L. Stuckey, the owner of Maximum Mortgage in Fort Wayne, obtained fraudulent loans in 2002 for investors buying rental properties. Stuckey also faces a civil lawsuit over allegations that he was involved in some $5.5 million in mortgages that resulted in nearly 150 home foreclosures. More details will follow shortly. These charges were filed as the result of an investigation by the Internal Revenue Service and the Federal Bureau of Investigation. This case has been assigned to and will be prosecuted by Assistant United States Attorney Lesley Miller Lowery, who can be reached at 260-422-2595 for any i

A Cease and Desist Order issued to loan officer Kellee Harris, Riverdale, Georgia, became final.  The Georgia Department of Banking and Finance’s issued the Order to Harris for making misrepresentations in loan files submitted to mortgage lenders. Pursuant to state law, the Department may revoke the license of a mortgage broker or lender that employs an individual against whom a final Cease and Desist Order has been issued within the preceding three …Read More...

In the following press release the Georgia Department of Banking and Finance’s (“Department’s”) Cease and Desist Order issued to loan officer Kellee Harris of Riverdale, Georgia, became final today, May 17, 2007.Ms. Harris was issued a Cease and Desist Order by the Department for making misrepresentations in loan files submitted to mortgage lenders. Pursuant to state law, the Department may revoke the license of a mortgage broker or lender that employs an individual against whom a final Cease and Desist Order has been issued within the preceding three years if the Order resulted from misrepresentations being made in loan documents.A copy of the Cease and Desist Order issued to Ms. Harris can be accessed from the DBF’s website by clicking here.

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J. Anthony Hansen, 42, loan officer,Tacoma, Washington, was convicted of stealing more than $44,000 from homeowners as part of a program to pay off their mortgages. Hansen received a sentence of 68 months incarceration, $70,600 in restitution and a $10,000 fine. Hansen was convicted Feb. 13, 2007, of one count of theft in the first degree, 67 counts of theft in the second degree and one count of money laundering. A …Read More...

Eight defendants were charged in a 17-count indictment including conspiracy charges in conjunction with a mortgage fraud scheme they operated in the Dallas area. Defendants Donald L. Jones, 61, Grapevine, Texas , and Joseph B. Jackson, Sr., 63, Irving, Texas, are also each charged with ten counts of wire fraud and six counts of bank fraud. Jones and Jackson represented themselves as real estate investors who owned and operated Affordable …Read More...

Troy Scott Clements, former operator of the Springdale mortgage firm, American Funding, was sentenced to 24 months in prison for his role in defrauding mortgage lenders out of $2.3 million in the Greater Cincinnati, Ohio area over the course of several years. He admitted to charges of bank fraud and money laundering last fall in an ongoing mortgage fraud investigation. The fraud scheme has already resulted in over three dozen guilty pleas. According to the indictment, Clements was a private mortgage lender in Southwest Ohio and operated under trade names of American Funding, T.C.T. Contracting and Troy Clements, Trustee. American Funding‘s offices were co-located with the offices of Airline Union’s Mortgage Company, …Read More...

In a January 25, 2007 press release the North Carolina Commissioner of Banks announced that he had issued an order which permanently revoked the license of Kimberly C. Taylor, a Fayetteville mortgage loan officer for mortgage fraud and identity theft. Taylor was additionally fined $50,000. The order found that in 2004 and 2005 whilst employed by Advantage Loans, Inc, Taylor had falsified documents in relation to 3 mortgage loans. It further states that in 2006 whilst working for NationsBest Financial Services she falsified documents on at least two other mortgage loans. Her actions leave the mortgage brokerages facing liabilities of $500,000 if the loans default. In addition they found that Taylor stole the Identities of mortgage loan customers to obtain at least 7 personal loans from Centura Bank. The bank was left with losses of nearly $500,000. Click here to read the Press Release Click here to read the 14 page decision and order.