by Jeff Sorg | Sep 26, 2012 | Mortgage
(OnlineEd – September 26, 2012) Compliance management requirements for all non-banks have reached a new level with the new Consumer Financial Protection Bureau (CFPB) Examination Manual. According to the CFPB’s Web site: “The CFPB’s approach to non-bank...
by Jeff Sorg | Sep 19, 2012 | Mortgage
(Official NMLS Newsletter) – This is a reminder that the SAFE Act requires individual mortgage loan originators (MLOs) to complete 8 hours of NMLS approved continuing education (CE) annually. In addition to meeting the minimum federal requirements, a number of...
by Jeff Sorg | Sep 12, 2012 | California Real Estate, Mortgage, Real Estate
(OnlineEd® – Portland, OR) – The SAFE Act requires a mortgage loan originator to complete a minimum of 8 hours of NMLS approved continuing education and renew their license each year on or before December 31st. A NMLS approved course provider has up to six...
by Jeff Sorg | Aug 6, 2012 | Mortgage
(OnlineEd) – Every state-licensed mortgage loan originator (“MLO”) in any approved status is to complete at least 8 hours of NMLS approved license renewal education as part of their license renewal requirements. This annual continuing education must...
by Jeff Sorg | May 17, 2012 | California Real Estate, Mortgage, Nevada Real Estate, Oregon Real Estate, Real Estate
Qualifying ratios are only the beginning of the loan approval process. The three Cs of loan approval in lending are: Collateral, Character (credit), and Capacity. Collateral – The lender will look to the collateral to hedge its loss if the creditor defaults on...