As fast as the industry grows, so do the rules and technology it uses. To help navigate, Mat Ishbia, CEO of United Wholesale Mortgage, gave advice on what the industry needs to know on three key changes happening now.
Watch the video below for the full explanation of each one.
Here’s a teaser to one of them: Safe transitional licensing act.
“On March 8, the House of Representatives passed a new bill. It’s not approved through the whole process yet,” said Ishbia.
Ishbia explained that basically if you’re working at a federal institution, a bank for instance, and writing loans, you can now go to a nonbank originator and not have to be licensed on day one.
“This is a very big win for all independent mortgage lenders,” he said.