CIMBA LIVE 12/12/19 11:00am-12:00 pm. 1099 v. W-2

Posted by Debra Killian
Categories Compliance, Mortgage Employment, Mortgage Insights, Mortgage Recruiters, Originators
Date December 6, 2019

Connecticut Independent Mortgage Brokers Association offers live webinar.

While a renewed interest in employee classifications started in Califorinia, it is spreading across the country. The recent California Dynamex Case codified the terms under which a “worker” can be classified as an independent contractor under the “ABC” Test (Assembly Bill 5). The California law takes effect January 1, 2020 and many states are following suit. In March 2020, the CA Supreme Court will rule on whether the bill can be retroactive; a descision which many businesses will be interested in come spring.

Considering the income potential of loan originators, misclassifying “workers” as 1099 independent contractors is a costly mistake for mortgage companies.

As non-depository mortgage lenders and brokers grow marketshare, the more scrutiny the industry may face from regulators.

In this webinar we discuss:

The “ABC” test to determine proper worker classification
The Memorandum of Understanding between the IRS and the Federal Department of Labor
Why this issue is important for all states and the federal government
How employers get caught
Back taxes, penalties and interest – a financial burden you may not recover from
Why we expect more enforcement than in the past
What you should do TODAY to protect your business

This webinar is sponsored by CLOES.online. Register here.

Debra Killian, a seasoned Mortgage Loan Originator, Course Developer, and Instructor combines her extensive 35-year background in residential mortgages, real estate, banking, and accounting to excel in the mortgage industry. An alumnus of Western Connecticut State University with a B.B.A. in Accounting,

Debra has been a transformative figure in residential mortgages since 1994, overseeing and managing over $1 billion in real estate loans. Her unique educational and professional journey has positioned her as a dynamic and effective trainer in the mortgage and real estate sectors, offering tailored courses that use mortgage competencies in building long-term relationships with customers and real estate professionals.

A trailblazer in mortgage education, Debra co-authored pivotal NMLS-approved courses, including the 20-hour Pre-licensing SAFE Act course in 2010 and The Mortgage Professional for the same curriculum in 2011. Her contributions continued with co-authoring the MBA's School of Loan Origination and mortgage and real estate continuing education classes.
Debra relentlessly pursues the latest industry trends and regulatory changes, ensuring her courses, both new and existing, are continuously updated and aligned with current standards and practices.

Debra's leadership extends beyond her immediate professional sphere, evidenced by her past roles in the CT Mortgage Bankers Association, the National Association of Mortgage Professionals (NAMB) and various real estate associations.

A sought-after speaker, Debra lends her expertise to various professional groups and is dedicated to developing and delivering custom courses, reflecting her passion for education and industry advancement.

She and her husband Donald DeRespinis, own Charter Oak Systems, LLC which operates Cloes.online, and online education provider for pre-licensing courses required by the Secure and Fair Enforcement ACT (SAFE) Her passion is providing mortgage loan originators competency based training and professional development courses to all elevate mortgage loan originators. In addition to NMLS required courses, Debra and Don provide an array of compliance training to help companies comply with federal and state laws.

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