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loan correspondent

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loan correspondent

(1) One who originates a loan. (2) One who services the loan by collecting payments from the borrower, disbursing funds to investors or the mortgage owner, monitoring insurance status and real estate tax payments, and handling phone calls and inquiries from the borrower.
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mortgage bankers and loan correspondents represent the highest percentage of defendants (32 percent).
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There is a difference between loan correspondents and mortgage brokers, especially under the HVCC: loan correspondents are allowed to order appraisals under the HVCC, while mortgage brokers are not.
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a relationship was developed that soon led to the appointment of Dwyer-Curlett as Cal-Western's loan correspondent in Southern California.
Dwyer-Curlett off to 'good start' in 2008 by Mortgage Banking
 
 
 
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