Assisting with basic processing and information forwarding between consumer and Mortgage Loan Originator
*applies to buyer's agents only
Assisting in communication and date arrangements between consumer and Mortgage Loan Originator
Assisting consumers with the use of REeBroker Group software
Unlicensed Mortgage Loan Originator CANNOT:
(1) take a residential mortgage loan application nor
(2) offer or negotiate terms of a residential mortgage loan for compensation or gain.
The term mortgage loan originator does not include:
An individual who performs purely administrative or clerical tasks* on behalf of an individual who is an MLO;
An individual who only performs real estate brokerage activities (as defined in 12 U.S.C. Section 5102(3)(D)) and
is licensed or registered as a real estate broker in accordance with applicable state
law, unless the individual is compensated by a lender, a mortgage broker, or other MLO or
by any agent of such lender, mortgage broker, or other MLO, and meets the MLO definition;
or An individual or entity solely involved in extensions of credit related to time-share plans, as that term is defined in 11 U.S.C.
*Administrative or clerical tasks means the receipt, collection, and
distribution of information common for the processing or underwriting of a
loan in the residential mortgage industry and communication with a
consumer to obtain information necessary for the processing or
underwriting of a residential mortgage loan
** Time-share transactions are not allowed under the REeBroker Group
What is a residential mortgage loan?
A residential mortgage loan is any loan primarily for personal, family or
household use that is secured by a mortgage, deed of trust, or other
equivalent consensual security interest on a dwelling or residential real
estate upon which it is constructed or intended to be constructed a
dwelling. Dwelling means a residential structure that contains one to
four units, whether or not that structure is attached to real property.
The term includes an individual condominium unit, cooperative unit,
mobile home, or trailer, if it is used as a residence.
SAFE Act Examination Procedures for Depository Institutions
SAFE FAQ filing NMLS
This is not a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet LTV requirements, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines, and are subject to change without notice based on the applicant’s eligibility and market conditions. Refinancing an existing loan may result in total finance charges being higher over the life of the loan. Reduction in payments may reflect a longer loan term. The terms of the loan may be subject to payment of points and fees by the applicant. Real Estate eBroker Inc (DBA REeBroker Group) is an Equal Opportunity Lender and an Equal Housing Lender. NMLS #297152 DRE #01522411
CFPB Advertising guidelines
to confirm your marketing material is in compliance prior to sending it to the broker’s office for review.