Comments on: Banker, Broker, Consumer Lender or Credit Union? http://raincityguide.com/2007/06/17/banker-broker-consumer-lender-or-credit-union/ Seattle's Leading Resource for Real Estate Information Sun, 08 Nov 2009 01:47:42 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Update on the May 7 Mortgage Broker Commission Meeting and SB 6471 : National Association of Mortgage Fiduciaries http://raincityguide.com/2007/06/17/banker-broker-consumer-lender-or-credit-union/#comment-317288 Update on the May 7 Mortgage Broker Commission Meeting and SB 6471 : National Association of Mortgage Fiduciaries Thu, 08 May 2008 05:56:17 +0000 http://raincityguide.com/2007/06/17/banker-broker-consumer-lender-or-credit-union/#comment-317288 [...] there’s one small problem.  As I addressed in my four part series on the differences between a banker, broker, consumer finance company, and a credit union within the realm of licensed mortgage [...] [...] there’s one small problem.  As I addressed in my four part series on the differences between a banker, broker, consumer finance company, and a credit union within the realm of licensed mortgage [...]

]]> By: A Mortgage Broker is not a Lender | Seattle Real Estate ~ Rain City Guide http://raincityguide.com/2007/06/17/banker-broker-consumer-lender-or-credit-union/#comment-317287 A Mortgage Broker is not a Lender | Seattle Real Estate ~ Rain City Guide Thu, 08 May 2008 05:54:08 +0000 http://raincityguide.com/2007/06/17/banker-broker-consumer-lender-or-credit-union/#comment-317287 [...] there’s one small problem.  As I addressed in my four part series on the differences between a banker, broker, consumer finance company, and a credit union within the realm of licensed mortgage [...] [...] there’s one small problem.  As I addressed in my four part series on the differences between a banker, broker, consumer finance company, and a credit union within the realm of licensed mortgage [...]

]]> By: Loan Officer or Loan Originator? http://raincityguide.com/2007/06/17/banker-broker-consumer-lender-or-credit-union/#comment-210951 Loan Officer or Loan Originator? Fri, 16 Nov 2007 02:04:15 +0000 http://raincityguide.com/2007/06/17/banker-broker-consumer-lender-or-credit-union/#comment-210951 [...] When Chicago home buyer clients ask for a lender recommendation, I often advise speaking to a Loan Officer and a Loan Originator as a comparison.  What’s the difference you ask?  I leave the explanation up to Jillayne Schlicke’s recent post at Rain City Guide. [...] [...] When Chicago home buyer clients ask for a lender recommendation, I often advise speaking to a Loan Officer and a Loan Originator as a comparison.  What’s the difference you ask?  I leave the explanation up to Jillayne Schlicke’s recent post at Rain City Guide. [...]

]]> By: Banker, Broker, Consumer Lender or Credit Union? Part 4 | Rain City Guide | A Seattle Real Estate Blog... http://raincityguide.com/2007/06/17/banker-broker-consumer-lender-or-credit-union/#comment-164283 Banker, Broker, Consumer Lender or Credit Union? Part 4 | Rain City Guide | A Seattle Real Estate Blog... Fri, 27 Jul 2007 05:11:52 +0000 http://raincityguide.com/2007/06/17/banker-broker-consumer-lender-or-credit-union/#comment-164283 [...] If you enjoyed part four of this four part series on different types of mortgage lending institutions, here are links back to the other three: Part 1 Banks and Mortgage Banks Part 2 Mortgage Brokers and Correspondent Lenders Part 3 Consumer Loan Lenders [...] [...] If you enjoyed part four of this four part series on different types of mortgage lending institutions, here are links back to the other three: Part 1 Banks and Mortgage Banks Part 2 Mortgage Brokers and Correspondent Lenders Part 3 Consumer Loan Lenders [...]

]]> By: Jillayne Schlicke http://raincityguide.com/2007/06/17/banker-broker-consumer-lender-or-credit-union/#comment-162366 Jillayne Schlicke Sat, 21 Jul 2007 05:30:03 +0000 http://raincityguide.com/2007/06/17/banker-broker-consumer-lender-or-credit-union/#comment-162366 Hi Rachel, Without a written contract in place between you and the bank, it will be difficult to recover your commissions due. I highly recommend that you seek out the advice of an attorney. Hi Rachel,

Without a written contract in place between you and the bank, it will be difficult to recover your commissions due. I highly recommend that you seek out the advice of an attorney.

]]> By: Jillayne Schlicke http://raincityguide.com/2007/06/17/banker-broker-consumer-lender-or-credit-union/#comment-161695 Jillayne Schlicke Thu, 19 Jul 2007 06:07:23 +0000 http://raincityguide.com/2007/06/17/banker-broker-consumer-lender-or-credit-union/#comment-161695 Hi Rachel, I'm going to do some asking around for you. I'll email you a direct reply and also post it here. Hi Rachel,

I’m going to do some asking around for you. I’ll email you a direct reply and also post it here.

]]> By: Rachel http://raincityguide.com/2007/06/17/banker-broker-consumer-lender-or-credit-union/#comment-161691 Rachel Thu, 19 Jul 2007 05:48:02 +0000 http://raincityguide.com/2007/06/17/banker-broker-consumer-lender-or-credit-union/#comment-161691 LA...im just looking for a mortgage banker to originate for...1099....just going on forums/blogs to visit with others in the industry...just looking for any input....i'm not sure even if the way this bank is paying is legal...i'm not having success with finding any other "banks" that are doing this... here is my current setup....running fannie findings..picking contract MI company, underwritten there..and is funded by the bank, immediately picked up by investor at closing...just looking for advice/insight..thanks jillayne LA…im just looking for a mortgage banker to originate for…1099….just going on forums/blogs to visit with others in the industry…just looking for any input….i’m not sure even if the way this bank is paying is legal…i’m not having success with finding any other “banks” that are doing this…
here is my current setup….running fannie findings..picking contract MI company, underwritten there..and is funded by the bank, immediately picked up by investor at closing…just looking for advice/insight..thanks jillayne

]]> By: Jillayne Schlicke http://raincityguide.com/2007/06/17/banker-broker-consumer-lender-or-credit-union/#comment-161688 Jillayne Schlicke Thu, 19 Jul 2007 05:42:04 +0000 http://raincityguide.com/2007/06/17/banker-broker-consumer-lender-or-credit-union/#comment-161688 Hi Rachel, I'm not following your questions. Can you help me out and lay down some more background? What state do you work in and specifically, how can we help you? Hi Rachel,

I’m not following your questions. Can you help me out and lay down some more background? What state do you work in and specifically, how can we help you?

]]> By: Rachel http://raincityguide.com/2007/06/17/banker-broker-consumer-lender-or-credit-union/#comment-161654 Rachel Thu, 19 Jul 2007 04:27:15 +0000 http://raincityguide.com/2007/06/17/banker-broker-consumer-lender-or-credit-union/#comment-161654 a mortgage banker if you will...here is the current process....actually running fannie findings...assigning to a designated MI company...contract MI UW, then back to bank for docs...when i'm locking loan...that is where the investor comes into play...secondary market loans being sold...funded by bank...but immediately assigned/sold....im dying...i'm going to have to obtain an attorney evidentally and of course go through all the corporate process to report them...my family is suffering now. a mortgage banker if you will…here is the current process….actually running fannie findings…assigning to a designated MI company…contract MI UW, then back to bank for docs…when i’m locking loan…that is where the investor comes into play…secondary market loans being sold…funded by bank…but immediately assigned/sold….im dying…i’m going to have to obtain an attorney evidentally and of course go through all the corporate process to report them…my family is suffering now.

]]> By: Rachel http://raincityguide.com/2007/06/17/banker-broker-consumer-lender-or-credit-union/#comment-161652 Rachel Thu, 19 Jul 2007 04:23:39 +0000 http://raincityguide.com/2007/06/17/banker-broker-consumer-lender-or-credit-union/#comment-161652 Hey guys...just quick to anyone out there...big deal at this point...federally chartered bank...owed commissions over 20k....i'm a contract 1099 originator and have over 10 years experience....i don't know of any other bank who is doing as this one is....Equity Bank is who it is...I do nothing but A paper...and am generating 8-10 closed files a month 40-50k in fee income....considered to be an independent loan originator...have my brokers license on hold due to not needing it, paying a flat fee per file...does anyone know of anyone?? i'm working from true home office but that is legal in my state. any suggestions?? Hey guys…just quick to anyone out there…big deal at this point…federally chartered bank…owed commissions over 20k….i’m a contract 1099 originator and have over 10 years experience….i don’t know of any other bank who is doing as this one is….Equity Bank is who it is…I do nothing but A paper…and am generating 8-10 closed files a month 40-50k in fee income….considered to be an independent loan originator…have my brokers license on hold due to not needing it, paying a flat fee per file…does anyone know of anyone?? i’m working from true home office but that is legal in my state. any suggestions??

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