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AML,Banks,Credit Unions,Mortgage Education,Mortgage Insights Mortgage Company Compliance Requirements for AML Training How does a mortgage company meet the statutory requirement for Anti-Money Laundering education? The question comes up because many companies do not comply with the annual education requirement for all employees. In our opinion the law and regulations on AML training Continue Reading Mortgage Insights,Image The Myths and Realities -1099 vs W-2 for Loan Originators! As someone who has followed this topic for many years, with many debates, I've heard it all.  Just today, posts on Facebook brought it up...again!  What's different now is a few weeks ago, I decided to get reliable information from Continue Reading Mortgage Insights,Processing 8 Episodes of Fundamentals of Processing Teaches the WHY! Mortgage Processing Fundamentals is an on-demand, video recorded program which presents the base of knowledge needed to succeed at residential mortgage processing. The course is written and presented by a 25-year seasoned loan originator who has processed her own loans. The fundamentals Continue Reading Mortgage Insights Real Estate Update May 2021 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 Continue Reading Mortgage Insights Real Estate Update March 2021 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 Continue Reading Mortgage Insights Redesigned URLA Video - How to Use the 2021 Loan Application Ahhh...another industry change while volume is at an all time high!  Just what we need in 2021!  We started talking about the new URLA in 2018; and then it changed...and then it changed again.  Finally! After several years of the Continue Reading Banks,Credit Unions,Mortgage Education,Mortgage Employment,Mortgage Insights,Mortgage Recruiters,Originators, Processors, Underwriters Happy Thanksgiving! - 2021 Loan Limits Released! You wouldn't know we were in the middle of a pandemic based on the housing market.  That conforming limit keeps creeping up. It all seems crazy from when I started in the mortgage business in 1994, the conforming loan limit was Continue Reading AML,Banks,Mortgage Competencies,Mortgage Education,Mortgage Insights Are Customers "Cleaning" Their Money In Your Transaction? Money laundering is a huge problem for financial institutions and monitoring compliance and reporting is a challenge.  As I read through FinCEN's recent announcement, it became clear...the law is not really clear!  Because real estate transactions are large in dollars, Continue Reading Mortgage Insights Real Estate Update December 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 Continue Reading Mortgage Insights Real Estate Update October 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 Continue Reading Mortgage Insights Real Estate Update November 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 Continue Reading 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 Continue Reading 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 Continue Reading Mortgage Insights Real Estate Update Newsletters 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 Continue Reading 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 Continue Reading 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 Continue Reading Mortgage Insights Real Estate Update Newsletter June 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 Continue Reading 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, Continue Reading 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 Continue Reading Mortgage Insights Real Estate Update Newsletter 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 Continue Reading 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 Continue Reading 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 Continue Reading Mortgage Insights Real Estate Update Newsletter April 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 Continue Reading 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 Continue Reading 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 Continue Reading 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 Continue Reading 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 Continue Reading 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 Continue Reading 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 Continue Reading 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 Continue Reading