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The Nationwide Multi-State Licensing System and Registry (NMLS) (originally the Nationwide Mortgage Licensing System) is the system of record for non-depository, financial services licensing or registration in participating state agencies, including the District of Columbia and U.S. Territories of Puerto Rico, the U.S. Virgin Islands, and Guam ...
Union Home Mortgage is an American mortgage loan company based in Strongsville, Ohio. [1] Founded in 1970, [ 1 ] the company reports that it operates in 44 states plus Washington, D.C. , with over $5 billion in annual lending volume. [ 2 ]
Mortgage Electronic Registration Systems, Inc. (MERS) is an American privately held corporation. [1] MERS is a separate and distinct corporation that serves as a nominee on mortgages after the turn of the century and is owned by holding company MERSCORP Holdings, Inc., which owns and operates an electronic registry known as the MERS system, which is designed to track servicing rights and ...
A mortgage loan officer isn’t always the same as a mortgage banker (though they work for one). The officer won’t make the decision to approve or deny you a loan; they just process it and ...
Servicing loans: Once the loan closes, your mortgage banker might also service your loan, meaning they manage the repayment process and assist you if you need help with repayment.
The Ohio Department of Commerce is the administrative department of the Ohio state government [1] responsible for regulating banks and savings institutions, credit unions, mortgage brokers/lenders and consumer finance businesses; securities professionals and products; real estate professionals and cable television; and the building industry; and also collects and holds unclaimed funds. [2]
As the name implies, HMDA is a disclosure law that relies upon public scrutiny for its effectiveness. It does not prohibit any specific activity of lenders, and it does not establish a quota system of mortgage loans to be made in any Metropolitan Statistical Area (MSA) or other geographic area as defined by the Office of Management and Budget. [3]
With mortgage interest rates fluctuating daily, an excellent opportunity to refinance your existing loan may appear quickly and take you by surprise.. Since the refinance process can take four to ...