What state has the highest average credit score?According to one source, it’s California.What state has the lowest average credit score?You’ll have to follow the link to find out!A study conducted by Mortgage Marvel has concluded that California mortgage applicants, for the second year in a row, have the highest average credit scores in
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On Feb.7th, 2012 the Financial Crimes Enforcement Network (FinCEN) finalized regulations that require non-bank residential mortgage lenders and originators to establish anti-money laundering (AML) programs and file suspicious activity reports (SARs), as FinCEN requires of other types of financial institutions.This is a good thing for the mortgage i
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A settlement has apparently been agreed upon between a majority of the states' attorneys general and five of the nation’s big banks: Bank of America, Wells Fargo, Citigroup, JPMorgan Chase, and Ally Financial. The settlement stems from charges that the banks and their subsidiary servicers used robo-signing, among other abuses, in proces
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The Obama administration has assembled a new federal-state working group to investigate misconduct in the pooling and sale of risky home loans. State and federal officials are close to a settlement with the largest U.S. banks over mortgage abuses, with states facing an end-of-the-week deadline to decide whether they will join and negotiators ag
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From the NMLS website:"The 2012 renewal period in NMLS has ended. Registrations that were not renewed must now be reactivated in order to be in an 'Active' status."“The NMLS Annual Renewal Period begins November 1 and ends December 31 each year. According to federal regulations, any institution managing registered mortgage loa
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In a review of the NMLS test information found on their website, we found that California, Indiana and Virginia have made changes to their NMLS State Test Content Outlines. In checking further, it turns out that Indiana and Virginia have simply removed a law reference list that had been part of their outlines,
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In ProSchools' mortgage broker courses, we talk about Veterans Administration loans and the basic qualifications of a VA borrower and property. Once you complete your course with us, get your mortgage license and start working with a mortgage company or broker and are thinking about where you will find clients to keep you busy, you may wa
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