NewsReal

NewsReal

Banks, Mortgage Education, Mortgage Insights, New Mortgage Program, Originators, Originators, Processors, Underwriters

Fannie Requiring Business Accounts for Self-Employed!

My analogy to guidelines these days is they are like trying to hold jello in the palm of your hand. Squishy, slippery, moving; slipping through your fingers! Patience is a virtue! We need to understand that underwriters spend MUCH more time

Mortgage Competencies, Mortgage Education, Mortgage Insights, New Mortgage Program, Originators, Originators, Processors, Underwriters

CLOES.online Announces a New Product For Originators!

Recently a mortgage loan originator in another state contacted me for help. He was stuck with an underwriter and was challenged by how to calculate the self employment income. In that conversation he told me how helpful it would be

Mortgage Insights

Real Estate Update Newsletter July 2020

Don’t Try to Outsmart the Markets Getting ready to refinance your mortgage but waiting for rates to fall just one more time? Is that extra 1/8th percent ready to drop? Some consumers begin to follow economic news and perform no shortage

Mortgage Insights

Easy Mortgage Loan Comparison Tool

The "Best Practices in Professional Mortgage Origination" is based upon taking a complicated transaction such as a mortgage and making it easier for the customer to understand the costs and benefits. One Practice is to provide options on loans and demonstrate

Banks, Compliance, Credit Unions, Mortgage Competencies, Mortgage Education, Mortgage Employment, Mortgage Insights, Mortgage Recruiters

Did He Just Suggest We Open Up The SAFE Act?

Why the two tier system anyway? Do consumers realize the difference? For the sake of full disclosure, my business is education. I am a mortgage educator. I write, record and instruct courses for depository and non-depository originators alike. Their job

Mortgage Insights

Real Estate Update Newsletter June 2020

Certification, Mortgage Education, NMLS Licensing Education, Originators

Update: NMLS Test Centers Start Opening Again!

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,

Banks, Compliance, Mortgage Competencies, Mortgage Education, Mortgage Insights, Originators, Originators, Processors, Underwriters

CFPB Issues Rule on TILA Financial Emergency, Rescission & Change of Circumstances

April 29, 2020 - The CFPB issued an Interpretive Rule today titled: Application of Certain Provisions in the TILA-RESPA Integrated Disclosure Rule and Regulation Z Right of Rescission Rules in Light of the COVID-19 Pandemic. The rule allows for COVID-19 to

Mortgage Insights

Real Estate Update Newsletter 2020

Compliance, Live Events, Mortgage Competencies, Mortgage Education, Mortgage Employment, Mortgage Insights, Mortgage Recruiters, Originators, Originators, Processors, Underwriters, Personal Finance

Zoom Meeting: I.R.S., COVID19 & 1099s!

26,000,000 people filed for unemployment in the past several weeks; and it's not over! The Coronavirus is causing serious financial issues for states. For the first time ever, independent contractors are eligible under the CARES Act , even

Banks, Compliance, Credit Unions, Mortgage Competencies, Mortgage Education, Mortgage Employment, Mortgage Insights, Mortgage Recruiters, Originators

Hey...What's a Tripod? I Want One!

Learn how to get YOUR Tripod. Free LIVE Webinar on May 5th 12:00 Noon ET! In this COVID-19 world, companies need all possible resources at their fingertips to keep businesses going and growing to recruit and provide quality professional

Mortgage Insights

Real Estate Update Newsletter April 2020

Mortgage Insights

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

Banks, Mortgage Competencies, Mortgage Education, Mortgage Insights, Mortgage Recruiters, Originators, Originators, Processors, Underwriters

4 Things Customers Need to Know BEFORE Selecting a Mortgage...

Every customer should receive a written analysis; it helps take emotion out of the equation. I do it for all my purchases and refinances. Yes, we have lots of long discussions, but hearing and seeing are two different things! The

Banks, CLOES Live, Live Events, Mortgage Competencies, Mortgage Employment, Mortgage Insights, Originators, Originators, Processors, Underwriters

Jobless Claims at 3.2 MILLION Today! 9 Things Every Originator Should Be Doing

Is there any good news today? I guess at least people who have filed will begin collecting some income. The mortgage world is in flux and the challenges are coming faster than we can deal with. We

Mortgage Insights

Underwriting, Appraisals and E-signature Guidance Issued by Fannie Mae Today!

Fannie Mae issued guidance today in their Lender Letters 2020-03 and 2020-04. We have reviewed the information and produced a video of highlights for you. We do not provide legal or investor advice. As with all transactions, please consult with your

Mortgage Insights

4 Buckets of Nuggets to Consider in a Mortgage Transaction in a National Crisis!

As I write this I know the mortgage business will change. This post is not meant to provide financial or legal advice. Things will continue to change and the ONLY intent is to provide information that MAY apply

Mortgage Insights

Originators: Consumers Need You More Than Ever!

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

Mortgage Insights

NAMB to Raise 4 Major Issues in Congress April, 17 2020

According to Roy Deloach from the National Association of Mortgage Brokers, NAMB, the Association is working on legislative changes that are important to all mortgage originators and brokers. By contacting your representative to support these issues will help to make

Mortgage Competencies, Mortgage Education, Mortgage Employment, Mortgage Insights, New Mortgage Program, Originators, Originators, Processors, Underwriters

When You Know 1,000 Mortgage Concepts...Tech Can't Compete!

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

Mortgage Insights

CLOES online Featured on National Association Web Site

CLOES.online is pleased to be featured on the National Association of Mortgage Brokers, NAMB, Web site https://namb.org/page/Nambfoundation. CLOES.online supports the association's efforts to bring more education and professionalism into the Mortgage Industry. They do this through quality education and certification programs. NAMB

Banks, Learning Management, Mortgage Competencies, Mortgage Education, Mortgage Employment, Mortgage Insights, Mortgage Recruiters

Originate More! What Top Producers Know...That You May Be Missing.

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

Banks, CLOES Live, Compliance, Mortgage Employment, Mortgage Insights, Mortgage Recruiters, NMLS Licensing Education, Originators

The SAFE ACT of 2008 vs 1099s!

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

Mortgage Insights

Employment Law Update: It's Way More Than 1099 v W-2!

If you missed my last post, it now includes "worker misclassification." There are a lot of people with a lot of opinions. That may be all they are, opinions of mortgage business owners and employees all over social media.

Compliance, Learning Management, Mortgage Competencies, Mortgage Employment, Mortgage Insights, Mortgage Recruiters, Originators, Originators, Processors, Underwriters

Effective In-house Training Outsourcing What Everyone Needs to Know.

It's a new year with all the hopes that January brings...it's also Monday. New week, same old issues. You are in charge of "training." You yawn, sip your coffee and try to remember where you left

Mortgage Insights

Seven Deadly Mistakes to Avoid When Setting Up a Mortgage Company!

Have you recently started your own company or still pondering if you should? This webinar will provide some insight into issues you may not have considered. Register for our January 9, 2020 LIVE webinar hosted by National Mortgage

Banks, Mortgage Competencies, Mortgage Insights, Mortgage Recruiters, Originators, Originators, Processors, Underwriters

The First Decade of Social Media. What Will 2020 Bring?

This is the first decade where social media found its place! While I was a bit late to the party, this year I was honored to cross paths with so many people simply because of social media; people I

Compliance, Mortgage Competencies, Mortgage Insights, Originators, Originators, Processors, Underwriters

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

Mortgage Insights

I am Supposed to Know All the Labor Laws?

So, now I am entrenched in all things Mortgage Businesses must know about employment. Everyday sipping my coffee, I read! Blogs, newsletters, announcements, court cases, compliance issues and a myriad of other topics for about an hour. The

Mortgage Insights

"The NMLS Made Me Do It!"

For newer entrants to the mortgage industry it might be helpful to clarify the NMLS is not a state regulator. They do not make or pass mortgage laws. Congress and the state legislatures do. The NMLS peforms the

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