(PRWEB) October 25, 2013
The mortgage experts at AnikimCreditCorp.com have recently completed another useful webpage for their readers. The newest adding is about warehouse lines for brokers and warehouse lines for bankers, and how these lines are implemented in the mortgage industry. The page display the necessary information about warehouse lines of credit, and the requirements to apply for one, and what one would need to qualify. The industry is full of brokers and small mortgage bankers that are looking to fund their own loans, unfortunately many do not know how to make the next step. The mortgage experts over at AnikimCreditCorp.com understand these frustrations of growing brokers and bankers so they are developing helpful pages to assist them. The latest page about warehouse lines explains clearly what they are used for and the reasons why a broker or banker would need to have one. To discover more about warehouse lines of credit for mortgages visit the new page here, http://anikimcreditcorp.com/warehouse-lines
The mortgage industry has many ups and downs, but lately it seems to have many more tough times that good ones. After the housing crisis many believe the industry has been over regulated, causing more regulation than needed. The latest Dodd-Frank Act contains a number of discrete provisions addressing points and fees paid by consumers in connection with mortgages. Section 1412 of the Dodd-Frank Act adds new TILA section 129C(b) which defines the criteria for a “qualified mortgage” as to which there is a presumption of compliance with the new ability-to-repay rules prescribed in accordance with TILA section 129C(a), as added by section 1411 of the Dodd-Frank Act. Under new TILA section 129C(b), one of the criteria for a qualified mortgage is that the total “points and fees” paid do not exceed 3 percent of the loan amount more can be found at Consumerfinance.gov.
Funding loans by the broker or banker through a warehouse line has some benefits that “brokering” a loan does not. Some of the benefits include not having to abide by some of the new laws regarding loan origination. Warehouse lines of credit are a very important role in the home loan market, they make it more accessible to borrowers since many mortgage brokers and bankers do not have capital that are necessary to fund the home loans by themselves. Therefore, using a warehouse line to fund loans allows the loan originators to provide mortgages to those that seek them at a competitive rate.
The consulting firm continues to work with KnackMedia.com to help with the promotion of their warehouse line webpage. The mortgage firm utilizes various mortgage banking blog sites to post information about the lines of credit for brokers and bankers and guides them on steps to acquire one. The consulting firm is always actively looking for those looking for mortgage net branch opportunities, and partners them with the right lender. The company continues its expansion online and throughout the mortgage community looking for qualified candidates. To learn more about the recruiting firm, or the different services they provide, contact the company directly and talk directly to an account executive. To learn more about the company or one of its consultants view one of the company’s Facebook pages, https://www.facebook.com/KevinLeonardMortgageExpert
About the company: AnikimCreditCorp.com was started after the mortgage crisis to help struggling loan officers and net branches find mortgage banks that were able to sustain through the tough times. Former founder of a large mortgage banking company Kevin Leonard from New World Mortgage, has many relationships with lenders and brokers throughout the county, and helps place mortgage loan officers with jobs and net branch opportunities. The company also helps connect some of their banker clients with scratch and dent loan buyers to help clear warehouse lines.
Contact: Mason Baxter