Posted By: notuntermywatch
Loan Origination - 12/03/13 04:08 PM
We have separate consumer and commercial lending divisions. After SAFE Act, commercial lenders were not allowed to talk about consumer mortgages, but simply tell their business customer to go see a consumer lender.
However, with the new LO rules, I'm stuggling with what exactly can the banker say to their business customer who now wants a consumer mortgage loan - without triggering the LO definition?
What are others doing?
However, with the new LO rules, I'm stuggling with what exactly can the banker say to their business customer who now wants a consumer mortgage loan - without triggering the LO definition?
What are others doing?