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 'Duane Gomer'
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
CALIFORNIA REAL ESTATE LAWS AND REGULATIONS AFFECTING YOU NOW
February 5th, 2010 · 1 Comment
INCLUDED TODAY:
Loan Origination – Yea, I took the test
Morals and Ethics Revisited
Tax Refunds From IRS
Social Media Thoughts For The Day
Foreclosure Radar
Help Your Clients Save Money
Movies - It’s Oscar Time
Thoughts on Food and Food for Thought
Commercial – Grow Your Company
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Tags: NMLS · Loan Origination · Duane Gomer · Foreclosures
LOAN ORIGINATION UPDATE
January 21st, 2010 · 1 Comment
I have been in real estate a long time. How long? My California license number is 257862 (issued
December 9, 1961).  In all that time I have never seen anything as confusing as the new NMLS procedures concerning loan origination. What have I learned since my last email about this confusing topic? Lots.
Tags: S.A.F.E. Act · NMLS · Loan Origination · Duane Gomer · Loan Processing
New California Laws Effecting Real Estate Professionals
October 23rd, 2009 · 1 Comment
Many, many, many new bills were signed into law by our Governor this month. Following is a quick list. If you would like more information on any bill, go to www.leginfo.ca.gov.
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SB 94 – Effective Oct. 11, 2009: No more Advance Fees on Loan Modifications.
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AB 957 – Effective Oct. 11, 2009: REO Buyers can select escrow & title.
Tags: Mortgage Loan Originators · Reverse Mortgages · New Laws in 2009 · New Laws In 2010 · Appraisals · Duane Gomer · State Legislation · Mortgage Lending · Loan Modifications · REO's
Renting Versus Buying
October 2nd, 2009 · 3 Comments
Yes, buying real estate is a big commitment but many times not buying real estate is a bigger mistake. Let’s compare the costs of renting a property in today’s market versus buying the same property today.Â
First to establish an example. My figures will work with any example, but let’s use a home that would rent […]
Tags: Duane Gomer · Renting vs Buying · The Market · IRS Taxation
Getting Ready To Buy Now?
October 2nd, 2009 · No Comments
If you are thinking of buying a home now for any reason, be like the Boy Scouts and be prepared. Yes, Real Estate Agents, Lenders, Attorneys and Accountants are there to guide you, but the ultimate responsibility is yours when you make a big commitment like buying a home.
1.  Check with at least two lenders […]
Tags: Buying A Home · Escrow · Duane Gomer · Disclosure · Purchase Agreements · The Market
Why Is Now A Great Time To Buy Real Estate?
October 2nd, 2009 · 3 Comments
Let’s discuss two California families and the real estate market. We’ll call them Able and Baker.
Able sold a home at the top of the real estate market for $500,000 and bought a new home for $800,000, paying 10% down and getting a new adjustable rate mortgage for the remainder. Baker stayed in their existing $500,000 […]
Tags: Buying A Home · Duane Gomer · Tax Credit · The Market
Important Alerts; Updates for CA Real Estate Pros - New Laws, Regulations, Fee Increase; New Education Survey w/Cash Prize; Foreclosure; New Bills; Mark Sanchez; DRE Hearing
May 4th, 2009 · 1 Comment
Disclaimer: This BLOG is designed to provide accurate and authoritative information in regard to the subject matter covered. It is presented with the understanding that the writer is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should […]
Tags: Duane Gomer · CA Assembly Bills · Legislation · Real Estate Licensure · Foreclosures · DRE Regulations
From The Desk of Duane
April 21st, 2009 · 1 Comment
ABOLISH THE DRE
Assembly Bill 33 (Nava) was approved April 13th in the Assembly Banking Committee. This bill would abolish the Department of Real Estate, the Department of Corporations, the Department of Financial Institutions, and the Office of Real Estate Appraisers. AB 33 proposes to transfer the powers, duties, purposes, jurisdiction and responsibilities of those departments to the […]
Tags: California Department of Real Estate · Duane Gomer · CA Assembly Bills · Loan Modifications · FNMA · IRS Taxation · State Legislation · Fannie Mae · DRE Regulations
BREAKING NEWS
January 21st, 2009 · 5 Comments
Today, we received a copy of a proposed regulation from Jeff Davi, DRE Commisioner. The main purpose is to raise fees for all licensees and subdivisions.
Briefly, fees for a four-year Broker’s license will go from $165 to $300 and for a sales license from $120 to $245. Most of the exam fees will be doubled. […]
Tags: Duane Gomer · California Department of Real Estate · Calif. Dept. of Real Estate · DRE Regulations