If you are thinking of getting your Mortgage Loan Originator State License, there is a crucial statistic you need to know: the NMLS pass rate for first-time test-takers is hovering right in the mid-50s. To clarify, that means roughly half of everyone who sits for the exam fails on their first attempt! Why is the failure rate so high, and more importantly, what does it actually take to pass the NMLS exam? Why the NMLS …
Looking for a smarter, more affordable way to learn the mortgage business? If you are preparing to pass the NMLS exam and start a career as a mortgage loan originator (MLO), it comes with a steep learning curve. You need to understand complex loan products, strict guidelines, compliance rules and worker classifications, and how to build lasting relationships with clients—all while trying to actively grow your business. For many new professionals, structured mortgage loan originator …
When a Borrower Doesn’t Qualify for Conventional Financing—Think Twice Before Defaulting to Non-QM! It’s tempting to label a loan as investment purpose when a borrower doesn’t meet conventional guidelines—even when they plan to occupy the home as a primary residence. Well, that loophole just slammed shut! California’s AB 3108 just changed the game. The gig is up! According to A.J. Dhaliwal and Sherwin F. Root of Sheppard, Mullin, Richter & Hampton, LLP, the party is …
NAR’s Home Finance Resource Certification presented by Deb Killian Watch video: