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 […]
Entries Tagged as 'Paul Scheper'
CALIFORNIA DRE MORTGAGE LOAN ORIGINATORS
March 9th, 2010 · No Comments
Tags: Mortgage Loan Originators · NMLS · MLO · California Association of Realtors · FICO · Paul Scheper · Duane Gomer · DRE Regulations
Credit Report Errors: How to Fix and Repair
November 4th, 2009 · No Comments
How can you fix an error on your credit report? Every person has the right, under the Fair Credit Reporting Act, to dispute the completeness and accuracy of information on their credit files. If there is a mistake on a credit report, it’s not difficult to fix it. You should do it yourself - it’s […]
Tags: Credit Reports · Loan Applicants · Paul Scheper · Lending
Back to Basics: How to Obtain a Loan Approval in 2009
November 2nd, 2009 · No Comments
My rookie season in the mortgage lending business occurred in 1983. That was the year of Michael Jackson videos, Ronald Reagan speeches and “old school” mortgage lending. In 2009 (26 years later), the rules have “boomeranged” and returned to “back to basics” lending. By “back to basics”, I am referring to actually verifying the homebuyer’s […]
Tags: VA Loans · Refinances · Paul Scheper · Standard Loans · Lending · FHA Financing · Mortgage Lending · FHA buyers
The 6 “Must Know” Tips for Loan Applicants
November 2nd, 2009 · No Comments
Yogi Berra, the famous New York Yankee catcher, should have been a part-time loan officer. It was he who once said, “It’s never over till it’s over.”  He must have been referring to the time period between a mortgage application and a mortgage funding. Â
More than a few buyers have had the wind knocked out […]
Tags: Mortgage Funding · Debt-To-Income Ratio · Loan Processing · Loan Applicants · Paul Scheper · Mortgage Lending
Mortgage Money: Where Does the Money Come?
November 2nd, 2009 · No Comments
Boy, how things change. When I was in high school (Disco era of 1978), if my parents wanted a home loan they would walk downtown to the neighborhood bank or savings & loan in Granada Hills, CA. If the local bank in Granada Hills had extra funds lying around and considered my parents a good credit […]
Tags: FHLMC · FNMA · GNMA · Mortgage Servicing · Mortgage Backed Securities · Ginnie Mae · Freddie Mac · Paul Scheper · Lending · Loan Processing · Mortgage Funding · Fannie Mae · Mortgage Lending