Rain City Guide

I’ve always thought so and you may say I’m biased since I work for a company that is regulated by Washington State Department of Financial Institutions.  At the very least, home owners who have been wronged by a loan originator under DFI’s watch can rest assured that the company has much higher odds of having [...]

Alternative sexier titles to this post are: “Your Escrow Officer is a NARC” or “No More Quicky Closings” or how about “The Escrow Hills have Eyes”. There are some major changes brewing with how escrow will be practicing their business in 2008. Escrow companies may become “undercover” fraud agents for the [...]

2007 is a transition year for loan originators who work for a mortgage broker in Washington State.  These folks have received an interim license with a Dec 31, 2007 expiration date.  The license is conditioned upon LOs passing a competency exam, completing two continuing education courses (one of which must be an ethics course), paying [...]

This is part two in a four part series in which I outline advantages and disadvantages of different types of lending institutions. I will also offer suggestions to empower the reader on how to help yourself before and during your loan process. Part one covered banks, part three will cover consumer loan lenders, and in part [...]

In this four part series of blog articles, I will outline the possible advantages and disadvantages of different types of lending institutions. I will also offer suggestions on how a consumer can help himself or herself before and during your loan process. First, a quick primer.  Consumers often tell me they think of the word “lender” [...]

An article in yesterday’s Seattle PI provided an update on our state’s Loan Originator Licensing.    It fails to mention that only Loan Originators who work as for Mortgage Brokers are required to meet the state’s guidelines.   If a Loan Originator works for a bank-mortgage company or credit union, they do not have to take the [...]

 
Since I’ve covered Loan Originator licensing before on Rain City Guide, I thought I should provide this update.   Apparently DFI is loosening up on their previous decision to not allow LOs to take loan applications if they did not submit the required information prior to the original January 31, 2006 deadline.  
So if a Loan Originator did not [...]

This New Year brought significant changes to the mortgage industry. Loan Originators who provide residential loans in Washington State are now required to be licensed. This legislature applies primarily to Mortgage Brokers and not LOs who are employed by banks or credit unions. As I am employed by a Mortgage Broker (technically, we [...]

For those of you who grew up in the 70’s, if you were like me and missed an episode of the Rockford Files, you were really bummed out. Missing the Rockford Files was almost as bad as my parents making me late for my soccer games. Not a good thing. Tivo, [...]

I just wanted to take this opportunity to tell you how absolutely amazing DR Miller is! (Sorry Randy and any other lender types in here.) I have been around the block quite a few times, in five states, so know from where I speak here. This guy is Aces!!
Not only knows his [...]