Leavenworth Real Estate

New Lending Laws for 2007

Did you know that in 2007 Mortgage Lenders (Brokers and Loan Originators) must be licensed in the State of Washington? It’s true. You can learn more about it here. Appraisers have been directed not to take appraisal orders from lenders unable to provide a current license. Has the lender you have been working with kept up with current legal requirements? If not, I would be happy to refer you to some knowledgable and trustworthy lenders in the Wenatchee Valley.

This entry was posted on Wednesday, January 3rd, 2007 at 9:49 am and is filed under Community News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1. Rhonda Porter said at January 16th, 2007 at 4:08 pm

   If the loan originator works for a bank (such as WaMu, Countrywide, Wells Fargo, etc.) or credit union, then they are not subject to the new Loan Originator Licensing law.

   I just posted an article regarding this on Rain City Guide’s blog at
   http://www.raincityguide.com/2007/01/12/licensed-to-loan/

2. Geordie Romer said at January 16th, 2007 at 4:12 pm

   Thanks for the clarification Rhonda. It’s great to have input from a lending professional.

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