Ricky Khamis Senior Loan Officer Amerifirst Financial Scottsdale Arizona

I am a Licensed Loan Officer with Amerifirst Financial Scottsdale Arizona. Being Licensed means that I had to undergo 20 hours of State and National Education, and pass two separate tests. I had to go through a Criminal Background Check, Finger Printing and a Credit Check. As of July 1st 2010 in order to take a mortgage application, quote interest rates or programs you legally have to have a license.

Amerifirst Financial Scottsdale Arizona is on the cutting edge when it comes to processing Mortgage Applicants, and as a Licensed Loan Officer with Amerifirst Financial Scottsdale Arizona I have adopted their practices into my business model, enhancing my service level.

While some Originators will still be practicing Loan Origination they are now violating the law.
To reiterate what cannot be done without an active license the following rules apply:

1. You may not take an application
   1. Not in person
   2. Not over the phone
2. You may not discuss specific program questions. For example:
   1. If asked what is a FHA minimum FICO score it is ok to say 620. This is public information.
   2. If you are asked if their FICO is high enough to qualify for a FHA loan you may not respond. You should say "let me get Ricky Khamis Licensed Loan Officer on the line with us to answer that question, Ricky Khamis will be right with you".
3. You may not discuss specific rate quotes. For example:
   1. If you are asked what the rates are. You may say "Wells Fargos published rate is 5.25%." This will need to be from a public source such as Wells Fargo's web-site.
   2. If you are asked to quote Amerifirst rates then you should say "let me get Ricky Khamis licensed Loan Officer on the line with us to answer that question,Ricky Khamis will be right with you".
   3. If you are asked about closing costs you need to say, "let me get Ricky Khamis Licensed Loan Officer on the line with us to answer that question, Ricky Khamis will be right with you".
4. You may meet with a customer and sign all disclosures except you may not cover or discuss the following:
   1. Good Faith Estimate
   2. Truth In Lending
5. You may not lock a rate.
6. You may not hand out a business card or hold yourself out to the public with any title such as:
   1. Loan Officer
   2. Loan Originator
   3. Mortgage Banker
   4. Mortgage Consultant.
7. Non licensed originators will not have the following on July 1^st as they leave a paper trail that can and does look like you are acting as a licensed originator:
   1. Encompass will be in read only mode.
   2. You may not pull credit reports.

Anyone representing to be or acting as if they are a licensed originatorputs not only their future to get and hold a license at risk. But they also put their entire companies license at risk. Please report any such activity to to AZDFI. The State is taking this very seriously and has a no tolerance attitude towards non licensed Loan Officers holding themselves out or acting as a Loan Officer.

Hmmmmm Thinking and Thinking

I have taken my business to the next level of education as well and have earned my CMPS designation, or Certified Mortgage Planning Specialist. I also have a professional affiliation with Mortgage Market Guide and Mortgage Coach, and was featured as a speaker on one of their training calls.