December 30th, 2009 12:07 PM by Susan Larson
I would like to start by wishing everyone a Happy New Year's. I am looking forward to a few days off. I know that 2009 was a tough year for many people. I hope that 2010 is better for everyone.
There is a lot of change coming up in the mortgage industry. There seems to be never ending changes in our business lately. Loan officers must now be registered on a National Database. I think that it is very unfair that they do not make Bank loan officers follow the same procedures. But I believe it sets us apart from the banks now. We are held to a higher standard.
There is also going to be a new good faith estimate for the borrowers, which is four pages long. They did this so that the consumer will not be confused. Unfortunately, I think they are going backwards. I believe that this will confuse the customers, but with a good explanation of the form, they should understand it.
Again, I wish all of you a safe and Happy New Year and hope you enjoy. Call us for any of your mortgage needs.