FREE TRAINING: If You’re Tired of Chasing Documents, Watch This!Mortgage Competencies, Mortgage Education, Mortgage Insights, Originators, Originators, Processors, Underwriters, Real Estate Agents, Real Estate BrokersGetting customers is one thing. Keeping them is another.
One of the fastest ways to lose the confidence of a borrower or real estate partner is to leave them hanging because something is missing from the loan file.
In this video, I’ll Continue ReadingThe Perfect Storm: Why the Biggest Opportunity in Mortgage Origination is Right NowMortgage InsightsThe Perfect Storm: Why the Biggest Opportunity in Mortgage Origination is Right Now
Deb Killian, Founder & Instructor at CLOES.online
35+ years managing over $1 billion in real estate loans
Let’s be brutally honest about the last three years in the mortgage industry. With Continue ReadingOne Click Can Cost Millions: Cybersecurity Risks for Mortgage Loan OriginatorsMortgage Insights
Many mortgage loan originators (MLOs) assume cybersecurity is primarily the responsibility of the company’s IT department. In reality, MLOs are often the first line of defense—and sometimes the greatest point of vulnerability.
Mortgage originators routinely handle highly sensitive nonpublic personal information Continue ReadingNavigating NMLS Licensing: A Step-by-Step Success GuideMortgage Insights, NMLS Licensing EducationThe journey to becoming a licensed mortgage professional often feels like navigating a complex maze of regulatory requirements and tight deadlines. At CLOES.online, we believe that understanding the sequence of the Nationwide Multistate Licensing System (NMLS) is the first step Continue ReadingNot All 20-Hour SAFE Act Courses Are the SameMortgage Education, Mortgage Insights, Mortgage Recruiters, NMLS Licensing Education, Originators
Passing the exam is required. Competency is expected.
Every NMLS-approved 20-Hour SAFE Act course technically checks the same regulatory box. That does
not mean they prepare you equally for the realities of mortgage lending.
Most courses are built to help you pass a Continue ReadingCan MLOs Truly Be Independent Contractors?Mortgage InsightsMany mortgage companies operate under the assumption that classifying Mortgage Loan Originators (MLOs) as independent contractors is permissible, often citing a perceived lack of concern from state regulators. However, navigating these complex rules highlights the critical need for advanced mortgage Continue ReadingWhat It Takes to Pass the NMLS Test!Mortgage InsightsIf 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 Continue ReadingCalifornia's AB 3108: New Felony Charges for Mortgage BrokersMortgage InsightsWhen a Borrower Doesn't Qualify for Conventional Financing—Think Twice Before Defaulting to Non-QM!
It’s tempting to label a loan as investment purpose when a borrower doesn’t meet conventional guidelines—even when they plan to occupy the home as a primary residence.
Well, that Continue ReadingMortgage Training Doesn’t Have to Be Overwhelming or Expensive—Here’s a Better Way!Mortgage InsightsLooking for a smarter, more affordable way to learn the mortgage business?
If you are preparing to pass the NMLS exam and start a career as a mortgage loan originator (MLO), it comes with a steep learning curve. You need to Continue ReadingIntroducing CLOES.online - Loan Originator Training Membership SubscriptionAML, Compliance, Originators
Check out our new membership subscription option for any loan originator who is ready to learn how to earn more money and become a mortgage expert in under a year.
This material will set up a mortgage originator for life.
This plan Continue ReadingNAR's Home Finance Resource Certification presented by Deb KillianMortgage InsightsNAR's Home Finance Resource Certification presented by Deb Killian
Watch video:

Continue ReadingWhat New Mortgage Loan Originators Need to Know That Nobody Ever Tells YouMortgage Competencies, Mortgage Education, Mortgage Insights, NMLS Licensing Education, Originators
The mortgage origination field can seem incredibly 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, early disillusionment. To avoid Continue ReadingWhen Starting a Mortgage Broker Business...Hope is Not a Strategy!Compliance, Mortgage Broker Business, Mortgage Competencies, Mortgage Employment, Mortgage Insights, Mortgage Lender, NMLS Licensing Education, OriginatorsI 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 Continue ReadingThe Top 10 Reasons to Teach Real Estate Continuing Education!Mortgage Competencies, Mortgage Education, Mortgage Insights, Originators, Real Estate, Real Estate Continuing Education
For the past 20 years, I have been teaching real estate classes. Initially, I began teaching as a strategic piece of my mortgage loan originator professional development. I was looking for a way to build and maintain professional relationships Continue ReadingMLO Licensing to Mastery - Your 1st YearAML, Mortgage Competencies, Mortgage Education, Mortgage Employment, New Mortgage Program, NMLS Licensing Education, Originators
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 Continue ReadingDOL Closes the Door on Mortgage Originators Paid as Independent ContractorsMortgage Insights
In the fast-paced world of mortgage lending, a crucial yet often overlooked issue is always lurking between companies and those mortgage loan originators they employ; Â the misclassification of mortgage loan originators.
Often labeled as independent contractors, many of these financial professionals Continue ReadingUnder 20 Employees? Your Business May Be Subject to New Beneficial Ownership Interest (BOI) Rules!Mortgage InsightsI usually write about mortgage or real estate professionals, but since I teach Anti-Money Laundering classes, I thought it would be helpful for all small businesses to know what’s coming.
On September 18, 2023 the Financial Crimes Enforcement Network (FinCEN) published Continue ReadingCFPB Issues Fines for Favors: Mortgage and Real Estate Firms Handed $1.95M Penalty for RESPA ViolationsBanks, Compliance, Credit Unions, Mortgage Broker Business, Mortgage Education, Mortgage Insights, Originators, Real Estate Agents, Real Estate Brokers
In a startling turn of events, two major players in the mortgage and real estate industry have been dealt a hefty blow with fines totaling a staggering $1.95 million. The penalties come as a result of their failure to comply Continue Reading"Accelerate Your Success with Our Exclusive 20-Hour Pre-Licensing Education Program: Unbeatable Value at Just $299!"Mortgage Education, Mortgage Employment, New Mortgage Program, NMLS Licensing Education, Originators, Originators, Processors, UnderwritersReady 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 ProgramÂ
Our newest course was written by and taught by veteran mortgage loan Continue Reading7 Hours in Front of 125 Real Estate Agents! Loan Originators Pay Attention! Now Is The Time...Learn to Teach Real Estate Continuing Education!Certification, Learning Management, Live Events, Mortgage Education, Mortgage Insights, New Mortgage Program, OriginatorsIn the last 3 weeks, I spent 7 hours in front of 125 real estate agents! A captive audience. Curious how I got there? If you've read this far, this is not a brag post. It's an opportunity for you Continue ReadingJeanne Kelly & Debra Killian Announce New Program for Originators Working with Realtors!Mortgage InsightsJoin Jeanne Kelly Credit Coach and Debra Killian on Credit Over Coffee as they discuss getting into the mortgage industry and Debra's E-Course, Mortgage Origination Practices.
2023 will be a challenging year for most mortgage companies and originators.
Everyone wants purchase business.
This Continue ReadingEmployee or Independent Contractor Classification Under the Fair Labor Standards ActCompliance, Mortgage Broker Business, Mortgage Competencies, Mortgage Education, Mortgage Employment, Mortgage Insights, Mortgage Lender, Mortgage Recruiters, Originators, Originators, Processors, UnderwritersOn October 13, 2022 the Federal Department of Labor published findings in Vol. 87, No. 197 of the Federal Register.
The W-2/1099 controversary hits many businesses. As stated in previous posts, there is no special 1099 consideration for mortgage loan originators. Â
Regardless Continue ReadingIs Anti-Money Laundering (AML) Mandatory Compliance Coming for Realtors?AML, Compliance, Real Estate Agents, Real Estate Brokers, Real Estate CEDo you know how money is actually laundered through real estate transactions? Do you know your Anti-Money Laundering (AML) Training Requirements?
Between 2015 and 2020, at least $2.3 billion was laundered through US real estate, with estimates by Washington, D.C. think Continue ReadingUDAAP-ECOA-TILA Are You Ready for Examiners?Banks, Compliance, Credit Unions, Mortgage Broker Business, Mortgage Competencies, Mortgage Education, Mortgage Insights, Mortgage Lender, New Mortgage Program, Originators, Originators, Processors, UnderwritersThe overlap between federal and state laws and regulations becomes very apparent once there is an examination and/or an enforcement action.
With COVID dominating our work environment over the past two years, not many audits or exams were scheduled by state Continue ReadingChanges to the Appraisal Form and Data Coming!Learning Management, Mortgage Broker Business, Mortgage Competencies, Mortgage Education, Mortgage Insights, Originators, Originators, Processors, Underwriters, ProcessingWith the new URLA behind us...along comes the next major change in residential lending.
Fannie Mae and Freddie Mac (aka the GSEs) have provided an update on the new URAR. Yes, the Uniform Residential Appraisal Report is undergoing some major changes.  Here Continue ReadingThe Feds Beef Up Employment Enforcement on Independent ContractorsCompliance, Mortgage Broker Business, Mortgage Competencies, Mortgage Education, Mortgage Employment, Mortgage Insights, Mortgage Lender, Mortgage Recruiters, NMLS Licensing Education, Originators, Originators, Processors, UnderwritersWith 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 Continue ReadingFannie Mae COVID Guideline ChangeMortgage InsightsWith 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 Continue ReadingMortgage Company Compliance Requirements for AML TrainingAML, Banks, Compliance, Credit Unions, Mortgage Education, Mortgage Insights
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 ReadingThe Myths and Realities -1099 vs W-2 for Loan Originators!Mortgage Insights, ImageAs 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 Reading8 Episodes of Fundamentals of Processing Teaches the WHY!Banks, Compliance, Credit Unions, Mortgage Insights, ProcessingMortgage 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
