Empire Updates

7/3/2008 FHA requires that all commissions for FHA Loans be reported on a W-2.

Empire will pay its agents on a w-2 for all FHA Loans. All Agent commissions will be reduced by 10% to cover employer cost and workmans compensation.

The total employer paid taxes are currently 7.6% on the gross employee earnings.(FICA,Ca unemployment, Ca Training Tax). In addition we are required to pay worksman compensation at a estimated .038586 per dollar.

FHA Title 2 Mortgagee Approval Handbook,see paragraph 2-9 in chapter 2

"Compensation of employees may be on a salary, salary plus commission, or commission only basis and include bonuses. All compensation must be reported on Form W-2."

"These requirements apply to employees of a lender that are involved in origination, underwriting or servicing of FHA Loans."

5/01/2008 If you would like a page on this website (Look at the bottom of the HOME page for an example) email me at postmaster@empirehomeloan.com with a script.

4-24-08 Wholesale lenders are complaining that Empire agents are submitting loan packages to them, the wholesale lenders are doing the work and Empire agents are pulling the loans from these lenders. During this tough time the Wholesale lenders may charge Empire agents for pulling the loan. Each agent will be responsible for this cost on their loans.

Mortgage Modification

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, West Virginia, Washinton, Wisconsin, Wyoming.

Mortgage Modification for California Cities

Los Angeles, San Diego, San Jose, San Francisco, Long Beach, Fresno, Oakland, Santa Ana, Bakersfield, Riverside, Stockton, Chula Vista, Modesto, Fremont, Glendale, San Bernardino, Huntington Beach, Irvine, Oxnard, Moreno Valley, Ontario, Rancho Cucamonga, Fontana, Santa Clarita, Garden Grove, Oceanside, Pomona, Santa Rosa, Corona, Salinas, Pasadena, Torrance, Lancaster, Haywood, Palmdale, Orange, Escondido, Fullerton, Sunnyvale, Elk Grove, Thousand Oaks, El Monte, Concord, Simi Valley, Vallejo, Inglewood, Visalia, Costa Mesa, Downey, Santa Clara, West Covina, Norwalk, Fairfield, Burbank, Ventura, Richmond, Berkeley, Daly City, Antioch, San Luis Obispo, Cerritos, Yuba City, Marysville, Dublin, Livermore, Pleasanton

Mortgage Modification For Other Large Cities

Chicago, Houston, Phoenix, Philadelphia, San Antonio, Dallas, Detroit, Jacksonville, Indianspolis, Columbus, Austin, Memphis, Fort Worth, Baltimore, Charlotte, El Paso, Boston, Seattle, Milwaukee, Denver, Louisville, Las Vegas, Nashville, Oklahoma City, Portland, Tucson, Albuquerque, Atlanta, Mesa, Kansas City, Cleveland, Virginia Beach, Omaha, Miami, Tulsa, Honolulu, Minneapolis, Colorado Springs, Arlington Wichita, Raleigh, St Louis, Hmong

California Department or Real Estate - Brokers License # 01213224