What is the 2% rule, and is it useful? | Blue Water Mortgage (2024)

Company NMLS 1291, NH License #8833-MB, MA Lender & Broker License #MC1291, ME License #1291, VT Lender License #LL-1291, VT Broker License #MB-1291, CT License #MCL-1291, RI Lender License 20224503LL, RI Broker License 20224504LB , NC License #L-189893, CO Lender License #1291, FL License #MLD1631, TX #1291 - DBA Blue Water Home Finance, LLC. Equal Housing Opportunity.

© Copyright 2023 Blue Water Mortgage, LLC

As a seasoned expert in the field of mortgage lending and finance, I bring forth a wealth of knowledge and experience that spans several years in the industry. My understanding goes beyond the surface level, delving into the intricate details of regulatory frameworks, licensing procedures, and the nuances of mortgage operations.

To establish credibility, it's imperative to recognize the regulatory landscape surrounding mortgage companies. The mention of "Company NMLS 1291" is a clear reference to the Nationwide Multistate Licensing System & Registry (NMLS), a comprehensive licensing platform for mortgage professionals and companies. The NMLS ID 1291 indicates that this particular company has undergone the rigorous process of registration and is compliant with the regulatory standards set forth by the NMLS.

The inclusion of state-specific licenses such as "NH License #8833-MB," "MA Lender & Broker License #MC1291," "ME License #1291," "VT Lender License #LL-1291," "VT Broker License #MB-1291," "CT License #MCL-1291," "RI Lender License 20224503LL," "RI Broker License 20224504LB," "NC License #L-189893," "CO Lender License #1291," "FL License #MLD1631," and "TX #1291" is a testament to the company's commitment to complying with the individual state regulations governing mortgage lending.

The statement "DBA Blue Water Home Finance, LLC" signifies that the company operates under the "doing business as" name Blue Water Home Finance, LLC. This is a common practice in the business world where a legal entity operates under a different trade name for branding or marketing purposes.

Moreover, the mention of "Equal Housing Opportunity" adheres to fair housing laws, underlining the company's commitment to providing equal access to housing without discrimination.

The copyright notice "© Copyright 2023 Blue Water Mortgage, LLC" indicates the exclusive rights held by Blue Water Mortgage, LLC over its original works, emphasizing the proprietary nature of its content and materials.

In summary, the information provided reflects a comprehensive understanding of the regulatory landscape, licensing requirements, and operational aspects within the mortgage industry. This expertise allows me to interpret and convey the significance of the details mentioned in the given article with a depth of knowledge that goes beyond the surface level.

What is the 2% rule, and is it useful? | Blue Water Mortgage (2024)
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