All Forum Posts by: Vince Le

How loan officiers can pay Referral Fee to realtors in a legal way, and NOT as kick back? Thank you

Why do I see some independent mortgage loan officers submit borrower's application directly to lender without going thru their employer/broker's loan processing?

Will the MLO get the full compensation for themself by doing so, and is it illegal?

Why do I see some independent mortgage loan officers submit borrower's application directly to lender without going thru their employer/broker's loan processing?

Will the MLO get the full compensation for themself by doing so, and is it illegal?

Working as an independent mortgage loan officer for your broker, do you need to inform your current broker about ending the relationship before having a new broker? Or just need to update their sponsorship information on NMLS? 

Thank you.

What will need to be done when a mortgage loan originator (who already passed the SAFE test and got the selective state education done) wants to become a mortgage broker to work for themself, so their commission won't split up? Thank you.

After years working under a broker, will a mortgage loan originator with their individual license need to take any national exam, then study state education for each state that they wish to work again (but specifically for "broker") if there any, when they want to become a mortgage borker?

Thank you.

What does "NO POINT" mean in the ad: "Refinance your mortgage loan when interest rate goes very low with a lender offering NO POINT & NO COST?" 

Thank you.

Does a loan officer who is also a realtor should work under one broker only (broker offers both mortgage loan and real estate services) to be able to work on the same transaction legally?

Thank you

What's the difference between referral fee VS kickbacks in mortgage loan & real estate industries? 

In which ways loan officers can give referral fee to realtors, and vice versa?

Thank you very much.

This is my first file of refinance. What information that I need to collect as a loan officer?

or what documents will borrowers need to submit to the loan officer for refinancing?

Thank you very much