Servicers No Longer Require Licensing In Michigan

Posted by Krista Sabol on May 18, 2012 in IMU Blog Categories: Compliance PDF Servicers No Longer Require Licensing In MI Good news for servicers of Michigan loans came yesterday when the House passed SB 908 on a 107-0 vote to delete the reference to loan modifications in the Mortgage Loan Originator Licensing Act. A marked up version is attached and illustrates the changes to the current law. Page 3 of the Act shows that reference...
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5 Cents On Combined Job Descriptions

Posted by Krista Sabol on May 11, 2012 in Operations Recently a client asked whether combined job descriptions make sense. In his case the company combine processing, closing and shipping the file to the investor. I have seen many shops, in particular community banks, the combine processing and closing. The challenge for every one of the companies is the delays and problems that start to occur when there is a plan to expand and grow the sales...
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