http://mu-vee.com Tue, 16 Nov 2010 09:43:29 +0000 hourly 1 http://wordpress.org/?v=3.0.1 http://mu-vee.com/2010/08/any-conforming-lenders-that-let-you-do-a-deal-out-of/#comment-3 Sam Tue, 16 Nov 2010 09:43:29 +0000 http://mu-vee.com/?p=6#comment-3 You can close a loan in another state with a varience from the state's department of commerce or whoever in that state regulates brokers. Normally they want a copy of your liscense and will allow you to close the loan if this is a one time deal. Then close the deal. I have done this in Indiana and Kentucky with Interfirst. You can close a loan in another state with a varience from the state’s department of commerce or whoever in that state regulates brokers. Normally they want a copy of your liscense and will allow you to close the loan if this is a one time deal. Then close the deal. I have done this in Indiana and Kentucky with Interfirst.

]]> http://mu-vee.com/2010/08/any-conforming-lenders-that-let-you-do-a-deal-out-of/#comment-2 admin Wed, 18 Aug 2010 11:42:49 +0000 http://mu-vee.com/?p=6#comment-2 Not entirely true. Some lenders restrict even those who are under the allowed limit. I once asked a few lenders why this was the case, and they replied that since their corporate management has no idea if you've done more or less than the limit, they can't track it and don't want to take the chance on getting in trouble for paying a broker fee where they shouldn't have. Most lenders WILL allow a co-broke situation, and last time I asked (which was awhile ago), Flagstar was still allowing you to lend out of state. Not entirely true. Some lenders restrict even those who are under the allowed limit. I once asked a few lenders why this was the case, and they replied that since their corporate management has no idea if you’ve done more or less than the limit, they can’t track it and don’t want to take the chance on getting in trouble for paying a broker fee where they shouldn’t have. Most lenders WILL allow a co-broke situation, and last time I asked (which was awhile ago), Flagstar was still allowing you to lend out of state.

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