I just received another call from a local bank inviting me to come to work with them as a loan officer. Their sales pitch: 1. no background check, 2. no federal or state loan originator license required, 3. no initial or continuing education or testing as to competency as a loan originator required. Just show up and start taking mortgage applications and providing quotes.
This is exactly what got us in the predicament we were in in the recent past. Looks like a $1.5 trillion bailout after a brush with total economic insolvency was not lesson enough. Now with your tax dollars backing large and small banks they are right back to their old program. While recently perusing LinkedIn I came upon a loan officer whose employment history included an illustrious career as a cellphone salesman after which he was hired by Countrywide Home Loans (now owned by Bank of America) in 2005 as a loan officer.
Next time you call for a mortgage quote or speak with a banker about a loan modification ask them is they are a licensed loan originator in the state in which you are residing. Or, better yet ask them if they have successfully passed any test regarding the latest federal or state RESPA requirements for residential mortgage lending.
Then call a federal and state licensed loan originator with a federal background check, electronic fingerprints on file with the FBI, 20 hours of annual continuing education, and completion of the new national loan originator’s mortgage lending exam.
ADR Mortgage and The David M. Damare’ Team remain independently owned and operated, accepting nor requiring any government assistance. We are a boutique lender operating in many states with low cost, the savings of which we pass on to our clients and a penchant for platinum customer service that ensures our continued success and livelihood.
“Mortgage Lending is Our Business: Customer Service is Our Passion.”
Stay tuned and stay in touch with your mortgage professional. Thank you for the opportunity to serve you. David. 919.851.0999.
Raleigh Mortgage Man, NC Mortgage Man, Triangle Mortgage Man, Triangle Mortgage Expert all owned and licensed by David M. Damare’. All rights reserved.