|
|
Article: National Mortgage Capital Exec: Brokers Preparing For Shift To Banker.
- Article from:
- National Mortgage News
- Article date:
- July 14, 2003
- Author:
CopyrightCOPYRIGHT 2003 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Even though the Department of Housing and Urban Development-proposed rules have not been finalized, a number of mortgage brokers are preparing for the eventuality. This includes seeking warehouse lines of credit so they can close in their own names.
At National Mortgage Capital Corp., its director, Jeff White, said business is "just nuts right now." The company specializes in giving credit to mortgage brokers looking to make the transition to mortgage banker.
Typically, he said, he gets about one application per week. Recently, it has been as many as three or four for the Placentia, Calif.-based company.
Furthermore, these are coming from ...