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!Â
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.Â
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
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
Continue Reading
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
Continue Reading
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
Continue Reading
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
Continue Reading