Mortgage Officers are you ready for 2010?
By Ray Villanueva
(Home Funding Corporation)
Happy first Monday of the New Year. Out with the old and in with the new. Not only am I referring to the year but I am also referring to our new state license requirments. Within the first 30 days we must report to the Dre and make the necessary arrangements. This applies to those of us who ingage in Residential and Comercial activities. In order to complete the registration visit www.dre.ca.gov and obtain the form RE 866 Mortgage Loan activity Notification. Also for those of us who originate Residential Mortgage Loans an ENDORSMENT IS REQUIRED on our real estate license. Failure to submit the endorsement may result in penalties. $50 per day for the first 30 days and $100 thereafter.. a maximum of $10,000.. Click here to start the process Form RE 866- Mortgage Loan Activity Notificatio...