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Washington Extends Work from Home Guidance for Mortgage Loan Originators | Weiner Brodsky Kider PC


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Washington State has extended the applicability of interim guidance that allows licensed mortgage loan originators to temporarily work from home. The Washington Department of Financial Institutions, Division of Consumer Services, originally issued the interim guidance in March 2020 and subsequently extended the applicability date multiple times. The latest update extends the guidance through December 31, 2021.
The guidance states that the Department will not take action against a licensed mortgage loan originator who is working from home during this temporary period, even if the home is not a licensed branch, so long as the mortgage loan originator meets certain data security provisions that are set out in the guidance (in addition to all other state and federal data security requirements, which the guidance does not alter). ....

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New products, Fee Collection, Sales, VOE Tools; Events and Webinars: All This Week!


New products, Fee Collection, Sales, VOE Tools; Events and Webinars: All This Week!
Mar 2 2021, 7:10AM
As a kid, magic tricks are amazing because we think there is magic. As an adult, magics tricks are amazing because we know there is no magic. Lenders know that financing a home is not magic, done through sleight of hand. Quite the opposite. Getting a mortgage while you’re grabbing a cup of coffee is misleading, and MLOs bear the brunt of educating borrowers how much arduous work it takes to satisfy them. STRATMOR Group and CFI Group released annual report findings this week for their MortgageSAT Customer Experience Program. The industry’s largest benchmark, based on more than 263,000 surveys in 2020, showed wide swings in customer sentiment over the past twelve months due to pandemic-related factors like capacity strain, extended cycle times, fulfillment burnout, new hiring, and widespread adoption of the work-from-home model. For example, ....

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