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Real Estate Update March 2021

March 03, 2021

Don’t Try to Outsmart the Markets Getting ready to refinance your mortgage but waiting for rates to fall just one more time? Is that extra 1/8th percent ready to drop? Some consumers begin to follow economic news and perform no shortage of due diligence trying to pick the perfect...

Redesigned URLA Video – How to Use the 2021 Loan Application

February 25, 2021

Ahhh…another industry change while volume is at an all time high! Just what we need in 2021! We started talking about the new URLA in 2018; and then it changed…and then it changed again. Finally! After several years of the GSE’s designing formats, revising (adding and deleting) data points,...

Real Estate Update December 2020

December 01, 2020

Happy Thanksgiving! – 2021 Loan Limits Released!

November 24, 2020

You wouldn’t know we were in the middle of a pandemic based on the housing market. That conforming limit keeps creeping up. It all seems crazy from when I started in the mortgage business in 1994, the conforming loan limit was $225,000. Fast forward 26 years…the 2020 limit was...

Real Estate Update November 2020

November 02, 2020

Are Customers “Cleaning” Their Money In Your Transaction?

October 28, 2020

Money laundering is a huge problem for financial institutions and monitoring compliance and reporting is a challenge. As I read through FinCEN’s recent announcement, it became clear…the law is not really clear! Because real estate transactions are large in dollars, they are one of the easiest places to “clean...

CLOES.online – On Demand BSA/AML Training

October 13, 2020

Real estate transactions are the easiest way to launder money due to the size of the transactions and the amount of money that can be “cleaned”. All financial institutions are required to comply with the Bank Secrecy Act. Money laundering may also involve tax fraud as well as other...

Real Estate Update October 2020

October 05, 2020

Real Estate Update Newsletters 2020

September 01, 2020

What you need to know to be a Mortgage Loan Originator – Video

June 25, 2020

Fannie Requiring Business Accounts for Self-Employed!

June 01, 2020

My analogy to guidelines these days is they are like trying to hold jello in the palm of your hand. Squishy, slippery, moving; slipping through your fingers! Patience is a virtue! We need to understand that underwriters spend MUCH more time determining the amount of income that can be...

Real Estate Update Newsletter June 2020

June 01, 2020

CLOES.online Announces a New Product For Originators!

May 18, 2020

Recently a mortgage loan originator in another state contacted me for help. He was stuck with an underwriter and was challenged by how to calculate the self employment income. In that conversation he told me how helpful it would be to originators to have a “loan advisor” to consult...

Easy Mortgage Loan Comparison Tool

May 14, 2020

The “Best Practices in Professional Mortgage Origination” is based upon taking a complicated transaction such as a mortgage and making it easier for the customer to understand the costs and benefits. One Practice is to provide options on loans and demonstrate how different choices in mortgage options affect the...

Did He Just Suggest We Open Up The SAFE Act?

May 06, 2020

Why the two tier system anyway? Do consumers realize the difference? For the sake of full disclosure, my business is education. I am a mortgage educator. I write, record and instruct courses for depository and non-depository originators alike. Their job is the same! One could reasonably argue that I...