Merchants Home Loan Originators 150% Better Qualified than their Peers in the Industry

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) March 25, 2010 -- SAFE Mortgage Licensing Act of 2008

Title V of P.L. 110-289, the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (“SAFE Act”), was passed on July 30, 2008. The new federal law gave states one year to pass legislation requiring the licensure of mortgage loan originators according to national standards and the participation of state agencies on the Nationwide Mortgage Licensing System and Registry (NMLS). The SAFE Act is designed to enhance consumer protection and reduce fraud through the setting of minimum standards for the licensing and registration of state-licensed mortgage loan.

In accordance with the new law, all of Merchants Loan Originators successfully completed their education requirements and we are proud to announce that 100% of the staff passed the test on the first attempt all with test scores over 85. According to the National Mortgage News, only 70% of Loan Originators nationwide have passed their tests on the first try.

As a leader in mortgage banking, Merchants continues to train the best in the business. The high caliber of a Merchants Home Loan Originator is the primary reason that Merchants continues to lead the industry with the only 1st Rate Service Guarantee in the market.

Merchants, which is widely known for its BuyReady program in California and now Arizona, is a direct lender and broker specializing in 1st Time Homebuyers. The BuyReady program prepares customers for the financial responsibility of managing a home loan. Most BuyReady customers have experienced some financial difficulties leading to lower credit scores and need a lender to put in the time and effort to show them how to restore their credit scores and get their mortgage loan approved. More info is available on this program at www.merchantshomeloan.com/buyready.

More information can be found online at http://www.merchantshomeloan.com

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