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W-2 or 1099? The Final Word on Dynamex! RETROACTIVE!
Mortgage professionals…you may think this doesn’t apply to you…and maybe it doesn’t. This purported gray area has caused many employees and companies to grapple with the rules with many debates on this topic. Until now! On October 8, 2019, the CA Supreme Court ruled that if companies have misclassified...
New Federal Consumer Survey? Take a Peek!
Mortgage professionals may want to know what the government is asking your borrowers after closing. Recently the Bureau of Consumer Financial Protection (BCFP) and the Federal Housing Finance Agency (FHFA) released a new loan-level dataset, for public use; a compilation of data collected through the National Survey of Mortgage...
W-2 Contagion? The “ABC” Test Federalized?
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...
The Mortgage List – Open Mic Focus on Education
Faster, better, less, faster, sooner, easier ! Those are the messages coming from the industry. But, do we know that it’s really what’s best for consumers? Is it fair to originators? Are we setting consumers up for speed or great advice? How many seconds faster are you than you...
FHFA New 1003 Timeline: November 2020
December 18, 2020 – Did you attend one of our live seminars on the new 1003 this year? If so, we got side-railed a bit when the GSE’s delayed the implementation date. Well, it appears we are back on track. Today the FHFA and GSEs announced the mandatory deadline...
CIMBA LIVE 12/12/19 11:00am-12:00 pm. 1099 v. W-2
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...
Reduce Costs While Providing Real Mortgage Professional Development!
It’s December 2019. Your entire origination staff just got Certified by a 25 year mortgage veteran. Your underwriting conditions are cut in half due to less touches on more profitable files. Your customer service has improved dramatically and the stress level with all employees is greatly reduced. Not to...
Fannie Mae COVID Guideline Change
With the pandemic pointing toward endemic, it’s a relief that the GSEs are starting to look at removing some of the COVID-related guidelines. Self-employed borrowers may find it a bit easier to qualify for a mortgage now…,just in time as rates head up. Fannie Mae just released an update effective...
What It Takes to Pass the NMLS Test!
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...
Waiting to Take Your NMLS Test? Keep Studying!
Employers may be challenged getting new originators working. If you have employees who have completed their 20-hour national education and are ready for the test, it may be a while. The NMLS has put out the following summary regarding applicants needing to take the national test for a state-loan...
What People Say
How real people felt about CLOES.online
Gedne Gosselin
The instructor was very knowledgeable and applied examples in every possible scenario, making the material easy to understand.

Student CE Class 2018
8 Hour SAFE Comprehensive Federal CE 2018 – November 2018
Deb was great in presenting the true nature of the course piece by piece and helped with her many years of experience outline some of the more critical areas of the industry and expectations. The course was excellent because the provider was an experienced mortgage veteran for many years and understands how to present the material to make sure the key points as well as the main facts of the true nature of the job are outlined while instilling the required knowledge of the federal laws and guidelines mandated in the industry.




