Loan locked, Loan Estimate out, Intent to Proceed signed, appraisal inspection scheduled for today. What could go wrong? And then the call…customer letting me know she canceled the inspection. No, she didn’t want 0.00% 30 year fixed! She and her husband are both physicians working in an E.R. where there are two active Coronavirus patients. She is 8 1/2 months pregnant due in April. Yesterday her doctor told her she may be delivering…this week! When …
If you really, really procrastinated taking 2019 CE be glad this is a leap year! Last fall the NMLS published a Notice on 2020 Late CE Course Catalog. The notice included rules in an overview, which if you are licensed MLO, you already know, right? But…since there are two whole days left, we wanted to give you one last, late chance! The Model State Law, which a majority of states adopted when passing their own …
In December, 2019 McKinsey & Company’s article “Competing on Customer Experiences in US Mortgage,” they sited reassurance, transparency, simplicity, and speed as the four dimensions of a mortgage experience. The #1 priority; GETTING THINGS RIGHT, THE FIRST TIME! Speed and simple processes are up there, but what do you have to know to get it right the first time? Consumers still like advisors; someone to run things by, ask questions, review the numbers with and rely on …
A picture is worth a thousand words! Take a good look at that image; then ask yourself, how long will you wait before you really learn the business? Why do top producers have time to bring in more business? Minimum knowledge to fill out a 1003 doesn’t cut it! To assume it’s enough, indicates the lack of knowledge about the real business of residential lending. Analysis, critical thinking, mathematics, problem solving, communications and the ability …
With so much focus on AB5, California and the IRS reporting of originator income, is it possible we are missing the 10,000 lb gorilla? California is leading the country into a necessary review of worker misclassification. Recently New Jersey, New York, Illinois, Wisconsin, Oregon and Washington joined California with their version of how to address this issue of “worker misclassification.” The SAFE Act passed in Congress on July 30, 2008 mandated that all states adopt …