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Banks,Compliance,Credit Unions,Mortgage Broker Business,Mortgage Education,Mortgage Insights,Originators,Real Estate Agents,Real Estate Brokers CFPB Issues Fines for Favors: Mortgage and Real Estate Firms Handed $1.95M Penalty for RESPA Violations 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 Mortgage Education,Mortgage Employment,New Mortgage Program,NMLS Licensing Education,Originators,Originators, Processors, Underwriters "Accelerate Your Success with Our Exclusive 20-Hour Pre-Licensing Education Program: Unbeatable Value at Just $199!" Ready 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 Program  Our newest course was written by and taught by veteran mortgage loan Continue Reading Certification,Learning Management,Live Events,Mortgage Education,Mortgage Insights,New Mortgage Program,Originators 7 Hours in Front of 125 Real Estate Agents! Loan Originators Pay Attention! Now Is The Time...Learn to Teach Real Estate Continuing Education! In 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 Reading Mortgage Insights Jeanne Kelly & Debra Killian Announce New Program for Originators Working with Realtors! Join 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 Reading Compliance,Mortgage Broker Business,Mortgage Competencies,Mortgage Education,Mortgage Employment,Mortgage Insights,Mortgage Lender,Mortgage Recruiters,Originators,Originators, Processors, Underwriters Employee or Independent Contractor Classification Under the Fair Labor Standards Act On 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.   Regardless Continue Reading AML,Compliance,Real Estate Agents,Real Estate Brokers,Real Estate CE Is Anti-Money Laundering (AML) Mandatory Compliance Coming for Realtors? Do 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 Reading Banks,Compliance,Credit Unions,Mortgage Broker Business,Mortgage Competencies,Mortgage Education,Mortgage Insights,Mortgage Lender,New Mortgage Program,Originators,Originators, Processors, Underwriters UDAAP-ECOA-TILA Are You Ready for Examiners? The 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 Reading Learning Management,Mortgage Broker Business,Mortgage Competencies,Mortgage Education,Mortgage Insights,Originators,Originators, Processors, Underwriters,Processing Changes to the Appraisal Form and Data Coming! With 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 Reading Compliance,Mortgage Broker Business,Mortgage Competencies,Mortgage Education,Mortgage Employment,Mortgage Insights,Mortgage Lender,Mortgage Recruiters,NMLS Licensing Education,Originators,Originators, Processors, Underwriters The Feds Beef Up Employment Enforcement on Independent Contractors With 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 Reading Mortgage Insights 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 Continue Reading AML,Banks,Compliance,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 Banks,Compliance,Credit Unions,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 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