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#1595716 - 08/24/11 10:39 AM loan production office
whataday Online
Gold Star

Registered: 09/26/06
Posts: 385
Loc: Georgia
If a georgia bank has a lender in another state that accepts applications, is that lender considered a loan production office and required to be registered? There would be no formal "office", but working out of his house. The lender would not be closing the loan i.e. no disbursement of proceeds.

#1624760 - 11/04/11 03:29 PM Re: loan production office [Re: whataday]
Game On Offline
Platinum Poster

Registered: 07/06/01
Posts: 566
Loc: Marietta, GA
We have loan originators working out of their home-- Because they are mortgage loan originators as defined in the SAFE Act and they are employed by the bank they are required to register on the NMLS.