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Strategies & Market Trends : Anthony@Pacific & TRUTHSEEKER Expose Crims & Scammers!!! -- Ignore unavailable to you. Want to Upgrade?

To: ravenseye who wrote (4218)	5/11/2007 1:31:22 PM
From: StockDung	Read Replies (3) \| Respond to of 5673

Do Mortgage Bankers and Mortgage Brokers have any Responsibility for Loan Originators? Yes, they do. Mortgage bankers and mortgage brokers are responsible for the activities of individuals finding loans or negotiating land contracts, loans, or commitments for loans on the mortgage banker or mortgage broker’s behalf. Those performing these types of activities for a mortgage banker or mortgage broker must be licensed as Loan Originators. The registration form must include the name of the mortgage banker or mortgage broker who will take responsibility for the loan originator. A loan originator may only work for one mortgage banker or mortgage broker at any time. If a loan originator changes employers, a change of employment form must be submitted to the Department of Financial Institutions so that the employee can be transferred to the new mortgage banker or mortgage broker