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Technology Stocks : E Loan Inc -EELN -- Ignore unavailable to you. Want to Upgrade?

To: Bipin Prasad who wrote (788)	1/27/2000 1:03:00 AM
From: Sr K	Read Replies (1) \| Respond to of 817

Interesting concept to work through Re/MAX ... but I wonder what the legal difficulties will be. A Florida real estate licensee who does not have a separate mortgage broker's license may provide prospective borrowers with information on lender's mortgage rates and loan programs but may not receive compensation for such services. The history is that you needed both licenses, but computerized loan origination systems (CLO) created a conflict between federal and state law. The new RESPA regulations state that real estate licensees are permitted to receive compensation when providing mortgage-related services, including accessing CLOs. Florida Statute 494 specifically prohibits compensation for such services unless the individual is licensed as a mortgage broker. To clear the confusion, "Federal law supersedes state law, unless state law is more restrictive" according to a past president of the Gold Coast Chapter of the Florida Association of Mortgage Brokers. Clearly Florida law is more restrictive. So, as far as I understand, in Florida E-Loan's program will have difficulty. How is it in other states?

To: Bipin Prasad who wrote (788)	9/2/2000 9:14:08 PM
From: Victor Lazlo	Read Replies (2) \| Respond to of 817

I recall the eloan bulls saying that eeln would never trade as low as the teens. A mortgage broker who was short eeln in the high 30's said it would and I guess he turned out to be right, eh? What a difference a yr makes. I see there have been no posts here in four months. Why should there be? Hopefully the eeln insiders all sold out so they could recoup some of their investment. What a ghost town the .com threads have become. well, I'm off to the stamps.com to see when the last post was there! Victor, walking down memory lane