Question for Working MLO’s

Refinancing

In current advertising¬† MLO’s are touting unbelievable low interest rates for homeowners. There are some as low as 2.19% on 30 year loans and 1.975% on 15 year loans. Now those are low rates.

My question: In all of the ads I very rarely ever see any information on rental home interest rates. Being a landlord or as I like to say, a Shelter Provider, I have an interest in considering whether I should refinance in this market or not. But never any interest rates listed for me and hardly ever a mention of whether the MLO even makes refinance loans.

Bloomberg in a recent article stated that about 35% of homes are rentals. That seems to be a big market to me. In today’s market MLO’s are extremely busy making purchase and refinance loans, but could someone post one line in their ads about rentals? Any comments?

One Response to Question for Working MLO’s

  1. Neil Steadman January 16, 2021 at 11:55 am #

    Hi Duane – I am a broker doing business purpose loans through my corporation. Is it possible to get an NMLS license as an individual broker without doing it through my corporation so I can refer consumer loans to other brokers for a fee?

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