Loan originator definition

Loan originator. The entity that closes a Mortgage Loan in its own name.

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Loan originator means a natural person who, in exchange for compensation or gain or in the expectation of compensation or gain as an employee of a licensed mortgage lender, solicits, negotiates, accepts, or offers to accept applications for mortgage loans, including electronic applications, or includes direct contact with, or informing mortgage loan applicants of, the rates, terms, disclosures, and other aspects of the mortgage loan. The definition of ‘loan originator’ does not include an exempt person described in item (16) or a person solely involved in extensions of credit relating to timeshare plans, as that term is defined in Section 101(53D) of Title 11, United States Code. The definition of loan originator does not apply to an individual servicing a mortgage loan as that term is defined in this chapter until July 31, 2011, unless the United States Department of Housing and Urban Development or a court of competent jurisdiction determines before that time that those individuals servicing mortgage loans are ‘loan originators’ as that term is defined in the SAFE Act pursuant to Section 1508 of Title V of The Housing and Economic Recovery Act of 2008, Public Law 110‑289. Solely acquiring and reviewing a credit report does not constitute acting as a loan originator.

Loan originator means Option One Mortgage Corporation, a California corporation.

Examples of Loan originator in a sentence

• Record title to each Mortgage and the related Mortgage Note as of the related Closing Date shall be in the name of the relevant Mortgage Loan originator or the Seller.

• Loan originator is prohibited from delivering or accepting funds on behalf of the company.

• In the event of such delay, Viainvest and the Loan originator shall have no duty to make payments to the Assignee from their funds.

• Record title to each Mortgage and the related Mortgage Note as of the related Closing Date shall be in the name of the relevant Mortgage Loan originator, the Seller, the Purchaser or one or more designees of the Purchaser, as the Purchaser shall select.

• For each Mortgage Loan that has an application date on or after January 1, 2014, the originator confirmed that the loan complies with all applicable federal Loan originator Compensation Rule provisions, including, but not limited to, 12 CFR 1026.36 (d), (e) and (f).

More Definitions of Loan originator

Loan originator. As defined in the Sale and Servicing Agreement.”

Loan originator means a person employed, either directly or

Loan originator means any natural person who,

Loan originator or "mortgage loan originator" means a natural person who for direct or indirect compensation or gain, or in the expectation of direct or indirect compensation or gain:

Loan originator means an individual:

Loan originator means any natural person who, for

Loan originator means the same as mortgage loan orig- inator.