Received the first call today....a borrower wishing to buy a million dollar home who was using a loan officer for an approval and now effective today, this loan officer can no longer write a loan in Rhode Island because they did not pass the state and the national tests.    So, begins 2010.  One third of loan officers failed the test.  The impact will be felt in those states which required passing by December 31, 2009.

Those of us who did well on the tests will surely be busy in 2010.

 

I highly suggest everyone re-group to determine if you are dealing with fully licensed loan officers.  If not, start looking for a licensed loan officer, so your business can continue without any disruption.

 

Best wishes to all in 2010!

 

 

 

 

Ann Sabbagh

 

Vice-President

Seacoast Mortgage Corporation

401-305-6906 or 508-243-1190

Residential & Commercial Financing

MLO10920

                                                                                                                                   

 

"When you choose me as your mortgage consultant, you also choose a financial planner who cares about YOUR financial strength."

Ann Sabbagh, Vice-President

"The BEST compliment is a client referral: Thank YOUUU!"

Seacoast Mortgage Corporation

401-305-6906 or 508-243-1190

Residential & Commercial Financing

MLO10920

RIAR: teacher for "The Mortgage Course"; "Valuation of Commercial/Investment Real Estate"; "Reading Financial Statements"

 

"When you choose me as your mortgage consultant, you also choose a financial planner who cares about YOUR financial strength."

 
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1 Comments on Did your loan officer pass the required tests, if your state's deadline was Dec 31st? If not, they are unemployed today!

JAN
05
2010
297,138 Points 19 Featured Posts Localism Sponsor Outside Blog

Here in California the test period just started on 1/4/10 and runs until 6/30/10.  I look to see who passes and who doesn't.

John
6:42pm • #1


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Ann Sabbagh, President, Sr. Loan Officer

Pawtucket, RI

More about me…

Seacoast Mortgage Corporation, RI, MA & CT

Address: 267 NEWPORT AVENUE, PAWTUCKET, RI, 02861

Office Phone: (401) 475-1600 x 306

Cell Phone: (508) 243-1190

Email Me

Seacoast Mortgage: Your place for:RI loans, MA loans, CT loans, FL loans, commercial loans, residential loans, FHA, VA, USDA, 100% financing, FSBO (for sale by owner) assistance. Find a loan in RI, find a loan in MA, find a loan in CT,RI mortgages,CT mortgages,FL mortgages,MA mortgages. Do you qualify for a loan? At Seacoast Mortgage, we qualify you within your means. What you can afford is different than what you qualify for. Call us today!


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