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How do you start a mortgage company?

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βˆ™ 2011-09-12 22:09:26

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For starters I suggest learning the basics such as Getting your mortgage and Brokers license in your state and learn the laws, since each state is differant. From there you will then need to research your competition, and market. You also must create a very firm persuasive business plan if you want any chance of success. This is very difficult and very luctrative to those who are persistent and not weak hearted. I also recommend buying Calyx. Set up and office and contract with a bank or distributor to loan the money to you in which you end up loaning to your customer. Its confusing but you need to learn all there is. I suggest taking classes, reading books and going to the library.

From RubenG: Look up URL (website) for your state. The requirements are there. In Texas it's: If you join up with a mortgage broker (you need a loan officer's license) you can get Calyx software free (I did); plus you get the training and experience, hopefully. Otherwise, education is key; as much as possible, anyway you can get it. Remember, here in American you continue your education until you're buried.

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It may start 1% per month for a mortgage company

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Yes the mortgage company verifies income.

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These are any costs that a mortgage company has incurred in the collection or servicing of a mortgage. An example of a corporate advance fee would be if the second mortgage company makes a payment to the first mortgage company.

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Franklin American Mortgage Company was created in 1993.

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Will bankruptcy protect me from foreclosure by my mortgage company?

Yes, bankruptcy protect you from foreclosure by your mortgage company. You can read more at

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RateHub is a company that provides one of the best Canadian mortgage rates. Another company that provide the best Canadian mortgage rates include RateSupermarket.

Should I get a loan modification attorney or do it myself?

It depends on if your mortgage company is willing to work with you. Our attorney advised us to work with the mortgage company directly. This was the process we went through: 1. Call mortgage company and speak to specialist.2. Fill out questionnaire sent by mortgage company to home owner.3. Gather & send in paperwork requested by mortgage company.4. Receive response from mortgage company.5. Receive, sign and send back loan modification paperwork.

When mortgage holders die what are mine and the mortgage company rights?

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How does one find the best mortgage rates when wanting to refinance?

The first thing you want to do is have a current credit report which shows all 3 reports. Once you have your credit report you can "price shop" different banks and mortgage company. A good place to start would be with your current mortgage company and see what they can offer you.

Where can one find a California mortgage company?

A California mortgage company can be found on the internet at the First California Mortgage Company website. There is a wealth of knowledge on the website that should help answer any problems you come across.

Will the mortgage company offer to reduce your mortgage due to the mortgage crisis?

Some banks will - the best thing to do is call your mortgage company and see what they are offering. Banks make more money by keeping you in your house and paying your mortgage, so you may be able to refinance or renegotiate the terms of your mortgage.

Can mortgage company foreclose on an estate home in probate?

Yes, if the mortgage is in default.Yes, if the mortgage is in default.Yes, if the mortgage is in default.Yes, if the mortgage is in default.

Where can I go online to find out if my mortgage company has been suspected of mortgage fraud?

The Better Business Bureau ( has a "Check out a Business or Charity" service. Start there. (You can also file complaints.)

What is EMC Mortgage Servicing?

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Yes, and they have to provide you with contact information.

Where can I find information about Ameriquest Mortgage Company?

On this website, you will find information about Ameriquest Mortgage Company: This website contains all the information you'd ever need about Ameriquest Mortgage Company.

What is and underlying mortgage?

what does it mean when the mortgage company says they must read the underlying of the mortgage? I do not quit understand what that means.

What is an EMC mortgage and who offers them?

EMC Mortgage is a mortgage banking company that specializes in the servicing of mortgage loans. With a staff of more than 1,600 employees, the company is headquartered in Lewisville, Texas with additional offices in Irvine, California.

What happens to the first mortgage when the second mortgage forecloses?

AnswerThe first mortgage would have the first position on the lien. So if the second mortgage company foreclosed on the property - they would sell the property and the sale proceeds must go to pay off the first mortgage company first. Then, if there is anything left over, that money goes to the second mortgage company.For example, there is a first mortgage of 100,000 and a second mortgage of 40,000. The property is foreclosed and sold for 125,000. The first mortgage gets paid off (100,000) and the second mortgage company gets the remaining 25,000.The property owner still owes the second mortgage company the other 15,000.--------------------------------------------------------------------------------------------------------------Not true. Maybe different laws in different states but here the 2nd mortgage foreclosure sale does not directly effect the 1st mortgage. It remains a lien.

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A Mortgage company can not help you get out of chapter 13 when your ten years is up then your be out.

How do you cash check from homeowner insurance claim that includes mortgage company?

Endorse the check & send it to your Mortgage company. They will decide how much you get from it.