Re: You are in control...

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Re: You are in control...
Posted by Pro Mobile Notary of CA on 6/21/12 11:27am	Msg #424213

Buddy, according to the changes to RESPA it is strictly forbidden for a notary to take any type of application for any type of mortgage (1st, HELOC, reverse, etc) unless they have a loan originators license issued by the National Mortgage License Agency plus a state license if required, which in your case would be a CA Dept of Real Estate license which is required to be a mortgage broker. It is the law, so if you are unhappy about it, do not blame me for mentioning it in public.

The fine is $10,000 for each instance plus potential jail time too.

Messages in this Thread
	You are in control... - Buddy Young on 6/20/12 11:56pm
	Re: You are in control... - Scriba/NM on 6/21/12 12:18am
	Re: You are in control... - Buddy Young on 6/21/12 12:51am
	Re: You are in control... - Buddy Young on 6/21/12 1:04am
	Buddy, you're only half right - HisHughness on 6/21/12 1:15am
	That's not necessarily true. I do handle RESPA's and - MW/VA on 6/21/12 9:08am
	BTW, my response was to Scriba. n/m - MW/VA on 6/21/12 9:09am
	I Agree With Scriba..... - PegiT_MN on 6/21/12 10:54am
	Solution would be to not accept an app that's payment is - sigtogo/OR on 6/21/12 12:05pm
	When I do RESPA's - that's a separate and distinct - Linda_H/FL on 6/21/12 12:38pm
	Re: When I do RESPA's - that's a separate and distinct - PegiT_MN on 6/21/12 3:42pm
	My biggest worry for you Buddy - MistarellaFL on 6/21/12 9:32am
	Re: My biggest worry for you Buddy - Les_CO on 6/21/12 10:15am
	Re: You are in control... - Pro Mobile Notary on 6/21/12 11:27am
	What?? Pro Mobile? we don't "take" the app, we just watch - sigtogo/OR on 6/21/12 11:31am
	Re: You are in control... - SheilaSJCA on 6/21/12 12:15pm
	Re: You are in control... - Pro Mobile Notary on 6/24/12 6:51pm
	I do both conventional and RM apps-no problem getting paid - sigtogo/OR on 6/21/12 11:57am
	Re: Make SS & TC Research our Industry -Your Certified!! - bygrace/PA on 6/21/12 3:58pm

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