This is best accomplished when you start working with a L/O prior to your purchase.

talk to a local LO broker. 

If your standard is "whoever I feel like," then invariably you will randomly feel like showing a Mermaid a house, but not a Unicorn, and lo and behold now it appears that you dislike Unicorns even if you are one. 

.), the CFPB/Congress exempted adjustable rate reverse mortgages from the LO Comp rule, meaning that with basically ONLY these types of loans, can the loan officer get paid more if the consumer (your elderly grandpa...) accepts a higher interest rate or worse terms/fees/etc.

First mortgage payment will have to be due after your first paycheck is scheduled to arrive, and don't shaft your LO if they ask you for a copy of that first paycheck after settlement (I'll give you exactly 1 guess as to why many lenders won't do it until after that first paystub, even though technically the offer letter provisionally suffices).

Is there a path to become a Mortgage Broker if you're a loan officer?

Thanks a lo.

No rule or anything was broken here, but as a matter of courtesy you should have probably been given a heads up.In any case, legalese aside, my response before I read that the appraisal came in high (in addition to the property condition issues): LO should have given you and your Realtor a heads up and / or looped you in.

Figuring they weren't able to make the rent payments, they're not going to exercise their option, so you now have the property free to do another LO agreement.

If they have leveraged the house up with 2 mortgages, your unlikely to make much of a profit and there is too much risk with L/O buyers in this case.