As we have told you many times, California DRE licensees do not have to complete the 20-hour pre-licensure course because the DRE commissioner got it waived for you. However, you have to complete this waiver procedure by August 31, 2010.
How do you do it?
First, you go to the NMLS website at http://mortgage.nationwidelicensingsystem.org/Pages/default.aspx and register yourself […]
Entries Tagged as 'California Association of Realtors'
MORTGAGE LOAN ORIGINATION (MLO) 20-HOUR PRE-LICENSURE COURSE WAIVER
July 21st, 2010 · No Comments
Tags: MLO · NMLS · MLO State Component Exam · MLO National Component Exam · MLO Continuing Education · California Association of Realtors · Duane Gomer · CAR · Purchase Agreements · Calif. Dept. of Real Estate · California Department of Real Estate · DRE · DRE Regulations
MORTGAGE LOAN ORIGINATION EXAM INFORMATION
May 28th, 2010 · No Comments
Since my last newsletter Duane Gomer, Inc. has presented many successful Mortgage Loan Origination full-day Exam Crash Courses throughout California. Our material is designed to prepare MLO exam prospects to pass both the National and State Exams.
To date, we have not heard of anyone failing the State Exam but many long time loan brokers who did […]
Tags: Mortgage Loan Originators · California Association of Realtors · New Laws In 2010 · Loan Origination · MLO · NMLS · FICO Scores · FICO · California Department of Real Estate · Calif. Dept. of Real Estate · DRE · Duane Gomer · Interest Rates · DRE Regulations
CALIFORNIA DRE MORTGAGE LOAN ORIGINATORS
March 9th, 2010 · No Comments
There is good news for California DRE licensed MLO’s. In fact, I think it is awesome news for you. Basically, you do not have to take the expensive 20-hour pre-license course. You do have to register with NMLS and pay a small fee but no time consuming costly course is needed.
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The bad news – We […]
Tags: Mortgage Loan Originators · NMLS · MLO · California Association of Realtors · FICO · Paul Scheper · Duane Gomer · DRE Regulations
NEW RULES FOR MORTGAGE LOAN ADVERTISING
January 17th, 2010 · No Comments
A recent memo from the legal department of the California Association of Realtors® has brought to our attention some changes in rules for advertising mortgage loans. “The Federal Reserve Board has adopted, under TILA [Truth in Lending Act] Section 129(l)(2), 15 U.S.C. 1639(l)(2), rules to prohibit the following seven deceptive or misleading practices in advertisements […]
Tags: California Association of Realtors · Interest Rates · Advertising · Truth In Advertising · New Laws In 2010 · Mortgage Loan Originators · Annual Percentage Rate · Misrepresentation · Mortgage Lending · CAR · Lending · Mortgage Funding · Mortgage Servicing · Bob Hunt
ADD-ON FEES MAY ENTAIL R.E.S.P.A. VIOLATION
June 8th, 2009 · 2 Comments
When directors of the California Association of Realtors® (CAR) met in Sacramento recently, their association attorneys had an important message for them: Real estate firms and agents who, in addition to commission, impose additional charges such as an “administrative fee”, “transaction fee”, “regulatory compliance fee” etc. need to tread very carefully. They could easily become […]
Tags: Fees · California Association of Realtors · Administrative Fees · Transaction Fees · Compliance Fees · RESPA · National Association of Realtors · Title and Escrow · Bob Hunt · CAR · NAR · Purchase Agreements