This change is effective June 6th so I am reposting a post from our email on December 7, 2021. The NMLS did come out with a couple more rules for students. They said that you must have a camera that shows you from your shoulders up. You might want to consider your dress code because people […]
For many years I have been writing a series, I Meet The Nicest People. Today, I’m pleased to highlight Don Currie, Co-Founder and President of HighTechLending of Irvine, CA. He is definitely one of the nicest.Don Currie and Erika Macias established HighTech in 2007 after many years of experience at Impac Lending. With over 100 originators, 200 staff, […]
The Cost of Some Choices The DRE sent us an alert last week about a serious problem with some MLO Licensees. It seems that they made arrangements with an Education Company to give them completion certificates without doing any work, any tests, anything. An investigation has been brewing for a long time and the two […]
Complaints One of the big responsibilities of the Consumer Financial Protection Bureau is to hear complaints from consumers. In the 21 months ending September 2021 they heard over 700,000 complaints against Equifax, Experian and TransUnion. This is 50% of all complaints received. Obviously consumers are not satisfied with the trio. In 2021 those companies reported […]
Mortgage Grader Jeff Lazerson is a friend, a student of Duane Gomer Education, a very active Mortgage Originator, and a columnist in our local Orange County Register plus 10 other newspapers in Southern California. He is an outstanding writer both from style and content. Periodically, I believe that his columns should be read by any […]
2022 Conforming Loan Limits The Fannie Mae and Freddie Mac Conforming Loan Limits for California have a new high of $970,800 for one-units in ten counties. The other 48 counties vary from $647,200 to $897,000 for Napa. Two-unit maximum is $1,243,050, three-unit is $1,502,475 and four-unit is $1,867,275. The highest limit for 2021 was $822,375 […]
Changes for 2022 NMLS is constantly making changes for Course Providers like Duane Gomer Education. Due to the pandemic we have been doing webinars instead of seminars and the response has been gratifying. Of course, there will be changes. I believe this latest one will be effective on June 6, 2022. The student’s cameras must […]
A New Sheriff In Town During the last few years CFPB has been more concerned with education and resources for consumers, unlike the previous regime under Richard Cordray. There is a new JEFE MASCULINO. Or, I might say, a new sheriff in town. Name: Rohit Chopra. He was formerly at this agency as an Assistant […]
Three Types of MLOs There are three types of Mortgage Loan Originators in California: Registered: Employees of Banks, I call them the FDICers State Licensed Department of Real Estate MLO’s State Licensed Department of Financial Protection and Innovation In the latest figures available as of this writing (9/21), there are approximately 52,800 of State Licensed […]
DRE Summer Bulletin There was an important alert on page 3 of the DRE Summer Bulletin. You might check it out. Notice to Mortgage Loan Brokers The Department of Real Estate (DRE) has seen an increasing number of applications for mortgage loan originator license endorsements from people without a real estate license, which is a […]
