originating mortgages? My friend owns a property and casualty agency..this agency wants to begin working with a bank (assosciated with NAMIC) to be the middle man and basically go find people who want to refinance and do all the paperwork and then have the bank handle the processing. My question deals with the inherent problems that this century-old insurance bank will have when dealing with mortgages, and for only 7 years now.

In order for the mortgage to be transferrable (sellable), the originator (also called a mortgage broker) must be licensed, carry e&o, mortgage impairment, and general liability.

If they do the paperwork ON BEHALF OF the bank, then the bank's mortgage impairment, e&o, and gl must be modified to include "subcontracted work". Good luck on that, I don't see it happening.