NMLS Licensing Education

Showing 1-10 of 29 results

What New Mortgage Loan Originators Need to Know That Nobody Ever Tells You

Posted by Debra Killian
Categories Mortgage Competencies, Mortgage Education, Mortgage Insights, NMLS Licensing Education, Originators
Date August 26, 2024

August 26, 2024

The mortgage origination field can seem quite appealing, offering the potential for high earnings, autonomy, and the satisfaction of assisting others with their home financing. However, this allure often leads to unrealistic expectations and, ultimately, disillusionment and failure. True success in the mortgage industry requires setting realistic goals and taking full ownership of your career. Many companies tend to over-promise and under-deliver, advertising top-tier rates, extensive support, and lucrative compensation plans to attract newly licensed …

Debra Killian

When Starting a Mortgage Broker Business…Hope is Not a Strategy!

Posted by Debra Killian
Categories Compliance, Mortgage Broker Business, Mortgage Competencies, Mortgage Employment, Mortgage Insights, Mortgage Lender, NMLS Licensing Education, Originators
Date August 1, 2024

August 1, 2024

I have been receiving many inquiries about what it takes to start a mortgage broker business and how to get started. I recently spoke to a gentleman who thought he wanted to start his own business, but after our lengthy conversation, he came to the conclusion “I just want to originate.” How much time and money did a conversation possibly save him? In 1994, I became an originator. I was being recruited by a local …

Debra Killian

MLO Licensing to Mastery – Your 1st Year

Posted by Debra Killian
Categories AML, Mortgage Competencies, Mortgage Education, Mortgage Employment, New Mortgage Program, NMLS Licensing Education, Originators
Date February 15, 2024

February 15, 2024

The definition of insanity: doing the same things over and over and expecting different results. Welcome to the mortgage business! Mortgage company owners and recruiters often entice new Mortgage Loan Originators (MLOs) into the industry with the allure of minimal entry requirements. However, this approach frequently leads to a puzzling outcome: these new entrants struggle to succeed. The critical question arises: where is the emphasis on truly understanding the mortgage business? Beyond the basics of …

Debra Killian

“Accelerate Your Success with Our Exclusive 20-Hour Pre-Licensing Education Program: Unbeatable Value at Just $299!”

Posted by Debra Killian
Categories Mortgage Education, Mortgage Employment, New Mortgage Program, NMLS Licensing Education, Originators, Originators, Processors, Underwriters
Date June 13, 2023

June 13, 2023

Ready to embark on a rewarding career as a mortgage loan originator? Look no further! We’re thrilled to announce our latest offering: the comprehensive 20-Hour Safe Pre-Licensing Education Program Our newest course was written by and taught by veteran mortgage loan originator Debra Killian. It’s packed with valuable insights, industry knowledge, and expert guidance and is designed to equip you with the essential skills needed to thrive in the mortgage industry. We believe that high-quality …

Debra Killian

The Feds Beef Up Employment Enforcement on Independent Contractors

Posted by Debra Killian
Categories Compliance, Mortgage Broker Business, Mortgage Competencies, Mortgage Education, Mortgage Employment, Mortgage Insights, Mortgage Lender, Mortgage Recruiters, NMLS Licensing Education, Originators, Originators, Processors, Underwriters
Date February 14, 2022

February 14, 2022

With rates going up, refinance volume quickly heading south and originators looking for the next shiny thing, we are bound to see movement in the industry. That means mergers, buyouts and some companies closing. Migrating originators can be a tricky challenge for the next employer. There are two issues that may surface; who owns the customer and how were the originators compensated? I’ll save the former for another time. Last week I received a call …

Debra Killian

Update: NMLS Test Centers Start Opening Again!

Posted by Debra Killian
Categories Certification, Mortgage Education, NMLS Licensing Education, Originators
Date May 1, 2020

May 1, 2020

The Nationwide Multi-state Licensing System and Registry just posted an update on MLO testing. Here is the list of NMLS test centers opening as of May 1, 2020. The announcement went on to state alternative testing options: Starting in mid-May, SAFE MLO National Test candidates will also have the option to take the test via remote proctoring. More details will be provided soon. Once remote proctoring begins, test candidates will continue to have the option …

Debra Killian

The SAFE ACT of 2008 vs 1099s!

Posted by Debra Killian
Categories Banks, CLOES Live, Compliance, Mortgage Employment, Mortgage Insights, Mortgage Recruiters, NMLS Licensing Education, Originators
Date January 30, 2020

January 30, 2020

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 …

Debra Killian

W-2 Contagion? The “ABC” Test Federalized?

Posted by Debra Killian
Categories Banks, CLOES Live, Compliance, Mortgage Competencies, Mortgage Employment, Mortgage Insights, Mortgage Recruiters, NMLS Licensing Education, Originators, Originators, Processors, Underwriters
Date October 28, 2019

October 28, 2019

If you followed our mini series on California’s latest law AB5, you know that independent contractor “1099” status just got tougher in CA. AB5 seriously increased the ability for state and federal governments to reclassify workers from independent contractors to “employee”(W-2) status. If this is not a topic you are familiar with, you may want to watch this 5 part mini-series. Episode 1The Dynamex Case Episode 2Dynamex Exemptions Episode 3Dynamex Penalties Episode 4Dynamex What You …

Debra Killian

60 Days to Temporary Authority!

Posted by Debra Killian
Categories Compliance, Mortgage Insights, Mortgage Recruiters, NMLS Licensing Education, Originators
Date September 26, 2019

September 26, 2019

The CFPB published FAQs today for the transitional licensing. The FAQs are broken into two categories: types of loan originators and state transitional licenses. The rules are effective November 24, 2019 and allow for ELIGIBLE registered and state-licensed originators to receive temporary authority to originate during the 120 period of obtaining a new state-license. In addition, the NMLS has issued guidance on worker classification. Watch for our CLOES.online upcoming 4-part video series on the 1099 vs …

Debra Killian

NMLS Resources – Temporary Authority (TA) to Originate

Posted by Debra Killian
Categories Banks, Compliance, Mortgage Insights, Mortgage Recruiters, NMLS Licensing Education, Originators
Date September 3, 2019

September 3, 2019

November 24, 2019 is the effective date for Temporary Authority, and it’s right around the corner. Transitional Licensing was passed as part of S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act and provides 120-day temporary authority to operate as a state-licensed mortgage loan originator for individuals who are: 1) a registered loan originator who becomes employed by a state-licensed mortgage company, or 2) a state-licensed loan originator who becomes employed by a …