Tag Archives: california

OnlineEd Earns Dual Approval for 8-hour NMLS and DRE License Renewal Course

(OnlineEd) OnlineEd® has received dual approval from the Nationwide Mortgage Licensing System (NMLS) and the California Department of Real Estate (DRE) to offer their new 2012 single 8-hour SAFE Act mortgage course for continuing education credits for license renewal of both licenses, mortgage and real estate. The dual approval course can be found in the OnlineEd mortgage and real estate catalogs and is delivered entirely online for a limited time introductory cost of just $69.95, plus the $12 NMLS credit banking fee.

 

Learn more!

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OnlineEd® is a licensed vocational school offering real estate broker, mortgage broker, and insurance licensing courses.

For more information about OnlineEd®, please visit www.OnlineEd.com or contact Paul Cleary at 866.519.9597

Another Compliance Deadline is Approaching, and We’ve got the FREE Webinar Link!

Residential mortgage lenders take note: The August 13, 2012 deadline for compliance with the new anti-money laundering (AML) and suspicios activity report (SAR) final rule is fast approaching.

Prior to this date, only depository banks were required to establish AML programs and file SARs. Now, under the newly expanded regulation, all lenders, mortgage brokers, and bankers must adhere to there practices.

To help ensure your organization’s compliance, the California Association of Mortgage Professionals will offer a comprehensive; one-hour training webinar to help your company understand what is required. This new expanded regulation applies to every single non-bank mortgage brokerage and mortgage lending company, regardless of size. The mandatory compliance deadline is August 13, 2012. By this date or sooner, you must:

  • perform an AML risk assessment;
  • implement a written AML Program, including policies and procedures;
  • train employees on AML;
  • develop a training program for ongoing AML training and tracking of new employees;
  • conduct and keep records of annual AML training; and
  • more!

Sound like a lot? No worries! We will help you get your questions answered and make sure you are doing all you need to do to be compliant.

 

Join CAMP for this FREE Compliance Webinar

When: Wednesday, July 18, 2012
Time: 11:00 AM PDT
Where: Online Webinar
Cost: FREE – Brought to you by the California Association of Mortgage Professionals

Register Here: https://www1.gotomeeting.com/register/667606489

About the Speaker

Theresa Ballard currently serves as compliance consultant and quality control trainer to many organizations including AllRegs, carious State and Federal Auditing Agencies. Theresa is the CEO of BFO Solutions, a compliance company offering compliance audits, post-secondary closing audits, loan delivery and loan guarantee services. Theresa has had a long and distinguished career in the mortgage and finance industry and is recognized as an industry expert in federal compliance. Theresa’s experience includes being a certified FHA Credit Examiner (NAMP®-CFCE) and FHA Direct Endorsement Underwriter. BFO Solutions provide Quality Control Audits in accordance with FHA and Agency requirements. BFO Solutions works with organizations to assist with their state and federal audits.

Brought to you by the California Association of Mortgage Professionals and their Platinum sponsors, Plaza Home Mortgage, and OnlineEd®.

Upcoming DRE License Changes

(California DRE News Bulletin – Summer 2012)

Branch or Division Manager Appointments

Effective July 1, 2012, pursuant to Business and Professions Code (B&P) Section 10164, an employing real estate broker or corporate designated broker officer may appoint a licensee as a manager of a branch office or division of the employing broker’s or employing corporate designated broker officer’s real estate business and delegate to that manager responsibility to oversee and supervise operations and licensed activities. The appointed manager will share with the employing broker or corporate designated broker officer the liability of potential license discipline should violations of the Real Estate Law occur at the branch or division location.

While the appointment of a branch or division manager is completely voluntary under B&P §10164, a broker or designated broker choosing to appoint a branch or division manager must follow the guidelines set forth by B&P §10164. A licensee cannot be appointed as a manager if the licensee holds a restricted license or has ever been subject to a bar order. If the branch or division manager is a salesperson, the salesperson must have at least two years of full-time real estate experience within five years preceding the appointment. Whenever an appointment of a branch or division manager is terminated or changed, brokers or corporate designated broker officers should immediately notify the DRE in writing.

DRE’s Licensing Unit has developed a new form titled, “Branch or Division Manager Appointment” (RE 242), which will be used by a broker or corporate designated broker officer to appoint or terminate branch or division managers. This new form will be available on our Web site no later than July 1, 2012. Licensees wishing to add or cancel branch offices should continue to use the Branch Office Application (RE 203).

Online License Certificates

In conjunction with our on-going efforts to continue to streamline processing, DRE will be implementing an online printing process for license certificates during the summer of 2012. The Department will continue to provide licensees with a pocket identification card, but license certificates will only be available for printing from the DRE Web site. Licensees who renew using eLicensing will receive notification at the conclusion of their eLicensing transaction that their license certificate is available for printing. Applicants who do not utilize eLicensing will receive notification that their license certificate is available for printing when they receive their pocket identification card. In order to print a license certificate, licensees will need to register on eLicensing by setting up a username account and password. Stay tuned for more information on this exciting new process!

Click here to read view the full Summer 2012 DRE News Bulletin.

Are You Using eLicensing?

eLicensing has been around for a while now, and has come along way since it was first introduced. It provides a quick, convenient way to update information regarding your real estate license, and, as an added bonus, saves on printing and postage costs since everything is submitted to the California Department of Real Estate electronically. Whether you are renewing your license for the first time or you just need to update your business address, eLicensing is the way to go. Here’s a few other things you can do with eLicensing:

  • Add/Change Employing Broker
  • Request a Duplicate License
  • View License Application Exam Results
  • and more

Click here to view the DRE’s Getting Started with eLicensing guide.

 

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OnlineEd® is a licensed vocational school offering real estate broker, mortgage broker, and insurance licensing courses.

For more information about OnlineEd®, please visit www.OnlineEd.com or contact Paul Cleary at 503.670.9278

Education Course Monitoring and Licensee Auditing

California

(OnlineEd) – The California DRE’s Education Section is the body that monitors education real estate continuing education course providers. The course provider receives a unique course number from the DRE once the course is approved for continuing education. The course provider then gives these course approval numbers to licensees who complete the courses and associated final examinations for use during the license renewal process.

The Education Section of the DRE is also responsible for auditing their licensees’ continuing education records. A licensee who cannot provide the DRE with course completion certificates when requested is subject to disciplinary action. Licensees should keep copies of all course completion certificates for at least five years.

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OnlineEd® is a DRE approved real estate pre-license and continuing educaiton course provider under school number 4056.

Article inspired by the DRE REAL ESTATE BULLETIN – Spring, 2012, “Education Course Monitoring 

and Licensee Auditing”


OnlineEd Offers Three California Real Estate Pre-License Packages

OnlineEd® is proud to announce the addition of two new course packages for those interested in becoming a real estate salesperson in California. OnlineEd® began offering California real estate training courses online in 2006 and, up until recently, only had a one-size-fits-all package that included everything necessary to satisfy the requirements of the Califonia Department of Real Estate (DRE) and prepare the student for the California real estate salesperson licensing examination. Now, OnlineEd® is offering three different packages. The packages, which sell for $99, $149, and $249, all meet the requirements of the DRE, but contain different features.  A breakdown of each package is a little further down the page, but first we want to introduce two new features to our California real estate license training packages.

New Features

Flashcards

The first new feature is our  interactive flashcard application designed to help the learner study and retain key terms and their definitions. The flashcards are included in packages with our Exam Prep module. Flashcards can be used over and over as preparation for the state exam and have a couple of really cool features. The system has the ability to show you the term or the definition in order to test your knowledge. If you get it right, it will be removed from the deck. If you get it wrong, the term or definition gets randomly placed back into deck and will be presented again until you answer all the cards correctly. Then it’s up to you to start them over again for practice or move on to our next new feature, the California Real Estate Test Simulator.

Test Simulator

Test Simulator  is the final step in your pre-license education process. It is exactly what it sounds like. A state license exam test simulator designed to better prepare licensees for the California real estate exam. Test Simulator takes an accurate percentage of questions from each chapter of the learning material and serves them up to simulate the real estate salesperson exam.

The Packages

Each California real estate pre-license training package includes the DRE-required course material to prepare you for the real estate exam. Below is a breakdown of all three course packages:

The Deluxe Package – $249

  • Online Course Material (PDF format with the ability to read on screen or print)
  • Exam Prep with NEW Flashcards
  • NEW State Test Simulator
  • Proactive Instructor
  • First-time Pass Guarantee
  • Physical Texbooks
  • FREE BONUS: Real Estate Master IIIx Calculator

Learn More

The Standard Package – $149

  • Online Course Material (PDF format with the ability to read on screen or print)
  • Exam Prep with NEW Flashcards
  • NEW State Test Simulator
  • Proactive Instructor
  • First-time Pass Guarantee

Learn More

The Basic Package – $99

  • Online Course Material (PDF format with the ability to read on screen or print)
  • Proactive Instructor
  • DOES NOT INCLUDE EXAM PREP
  • DOES NOT INCLUDE TEST SIMULATOR

Enforcement Agencies Continue To Fight Loan Modification, Mortgage Relief, and Foreclosure Rescue Scams

Consumers warned not to pay upfront fees, and victims urged to file complaints

(SACRAMENTO, California Department of Real Estate) – The California State Department of Real Estate (DRE) and other law enforcement agencies have alerted and continue to warn consumers to be wary of promises for loan modification, mortgage relief, and foreclosure rescue as scammers continue to prey on vulnerable, financially stressed homeowners.

The DRE, whose mission is to protect the public interests in real estate matters, continues to file scores of actions against individuals and entities illegally offering loan modification and mortgage relief services. The most typical scam involves the assurance of a loan modification in exchange for an upfront fee (which is illegal under California law), but once the fee is paid, little or nothing is done to obtain a loan modification.

Since 2009, the DRE has filed over 1,100 administrative actions against loan modification scammers.  The typical action involves the issuance of a Desist and Refrain Order to an unscrupulous operator ordering the stoppage of illegal activities, including the illegal collection of advance fees. However, in many instances an administrative order is insufficient to stop the illegal activity or the violations are so egregious that harsher action is necessary.

“It is imperative that law enforcement and administrative agencies work together to ensure consumers get the protection they deserve in these tough economic times” stated Barbara Bigby, DRE’s acting Real Estate Commissioner.

In this regard, the DRE commends the recent announcement by the California Attorney General (AG) of the arrests of Christopher Fox and Curtis Melone who operated Green Credit Solutions Inc. Green Credit Solutions Inc. is accused of collecting millions of dollars in illegal advance fees for loan modification services that were not performed. The DRE had previously filed actions against Fox and Green Credit Solutions Inc. that resulted in the surrender of the real estate licenses of Green Credit and Fox. At the conclusion of DRE’s case, the DRE investigators provided support to the AG in connection with their criminal case to ensure these scammers are subjected to more than just an administrative order.

In addition, recent actions taken by the Federal Trade Commission imposing million dollar judgments against Aminullah Sarpas, Damon Carriger and Macie Bain, all of whom had previously been issued Desist and Refrain Orders by the DRE for the illegal collection of advance fees, will help curb future abuses.

While multi-prong attacks and cross jurisdictional cooperation by administrative and law enforcement agencies help to protect consumers, consumer education is the real key to stopping the abuses. The following practical advice can help consumers from falling victim to a scam:

• Never pay an upfront fee for loan modification services. Such fees are illegal.

• Watch out for promises of guaranteed success. No one can promise that a loan modification will be successful.

• Ask questions, get referrals from people you know and trust, and always remember the following:  If it seems too good to be true, it probably is not true.

• Contact a HUD-approved counseling agency that can provide loan modification services for free.

• If you have been a victim of a loan modification scam, report it to the DRE, the FTC and the Attorney General.

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For more information about loan modifications and related scams, and other mortgage relief and foreclosure rescue frauds, the DRE and its programs, visit www.dre.ca.gov. For information from the California Attorney General, visit http://oag.ca.gov/. For information from the FTC, visit https://www.ftccomplaintassistant.gov/ or call 1-877-FTC-HELP (1-877-382-4357). For HUD-approved counseling agencies, visit www.hud.gov.


30,000 Mortgage Loan Originators Still Need to Complete Their CE

OnlineEd

(OnlineEd – Portland, OR) Over 30,000 mortgage loan originators must still meet their CE requirement before the national deadline, which is December 31. A few states have earlier deadlines, however. Georgia MLOs, for example, must complete their education requirements before October 31.

CE for mortgage brokers is relatively simple to complete. Approved providers can deliver their approved courses either online or by live lecture.  The NMLS approves providers and qualifying courses. It is important to look for the required course approval number when searching for courses and providers. The NMLS requires posting of provider and course approval numbers when the advertiser uses the NMLS logo in advertising.

The 8-hour approved NMLS course is to include 3 hours of federal laws and regulations, 2 hours of ethics, 2 hours of non-traditional loans (loans other than 30-year mortgage loans), and a 1 hour elective course. To find out if your state has a requirement for additional hours beyond the NMLS requirement, check our list of state-specific deadlines or visit the NMLS Website.

To understand all that is involved with the license renewal process and to get renewed on time with the least amount of trouble, applicants should be sure to watch this helpful video.

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The OnlineEd 8-hour NMLS approved continuing education course in our catalog for just $49.95 + $12 NMLS Banking Fee.
 OnlineEd® is  is NMLS Approved Provider No. 1400327.
For more information about OnlineEd® or to enroll in our courses, please visit www.OnlineEd.com and click on your state.

New California DRE Continuing Education 8-Hour Survey Course

California

(OnlineEd) Licensees who have renewed a California real estate license at least once may be familiar with the continuing education course known as 6-Hour Survey. In order to renew a real estate license in California, licensees are required to have 45-hours of approved continuing education. Twelve of the 45 hours, 3 hours each, must be in the topics of Ethics, Agency, Fair Housing, and Trust Fund Handling. Alternatively, a Department of Real Estate (DRE) approved 6-Hour Survey course that combines theses four topics can be used for subsequent (not first-time) license renewals. Licensees are also required to have one 3-hour course in the topic of Risk Management.

Beginning on July 1, 2011 the required Risk Management course topic will become part of 6-Hour Survey, which will be renamed 8-Hour Survey, and 6-Hour Survey will no longer be accepted by the DRE for continuing education.  Instead of 8-Hour Survey, licensees will still have the option to complete 15 hours (3 hours each) of education in the topics of Ethics, Agency, Fair Housing, Trust Fund Handling, and Risk Management.

What does it mean for you?

The only change this update brings is the addition of the Risk Management topic to the 6-Hour Survey.  That’s not so bad, right? It gets even better, because OnlineEd® has already made the change.

Any of our Ed-Paks that contained the old 6-Hour Survey have had it removed and been updated to include 8-Hour Survey.

If you are a current OnlineEd® student working on continuing education in California, we made sure we covered you first! Your 6-Hour Survey was updated to 8-Hour Survey, free of charge.

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For For more information about OnlineEd, please visit www.OnlineEd.com or give us a call toll free at 866.519.9597

How to Renew Your California Real Estate License

(OnlineEd®) – 2011 brought enormous change and much confusion in the California Department of Real Estate’s education requirements. Stricter time-monitoring, and a limit on final exam attempts are the two most most important,  but over-looked rules required by ALL continuing education providers as of January 1, 2011. OnlineEd® has created this guide to help you understand which courses you need to complete to renew your license, and what you need to be aware of when completing your online education. If you are still unsure about what is required after reading this guide, please feel free to email us or give us a call toll free at (866) 519-9597.

Which courses do I need?

For Salespersons

  • First time renewal:
    Ed-Pak 45-15 (includes: the minimum required 18 hours in the topics of Agency, Ethics, Trust Funds and Fair Housing, and Risk Management along with 28 hours in Consumer Protection)
  • Subsequent renewal:
    Ed-Pak 45-15 (includes: the minimum required 18 hours in the topics of Agency, Ethics, Trust Funds and Fair Housing, and Risk Management along with 28 hours in Consumer Protection)
    OR
    Ed-Pak 45-9 (includes: the required Eight Hour Survey course (which includes topics in Fair Housing, Trust Funds, Ethics, and Agency) along with the required Risk Management course and 33 hours in Consumer Protection)

For Brokers

  • First time renewal:
    Ed-Pak 45-15 (includes: the minimum required 18 hours in the topics of Agency, Ethics, Trust Funds and Fair Housing, and Risk Management along with 28 hours in Consumer Protection)
  • Subsequent renewal:
    Ed-Pak 45-15 (includes: the minimum required 18 hours in the topics of Agency, Ethics, Trust Funds and Fair Housing, and Risk Management along with 28 hours in Consumer Protection)
    OR
    Ed-Pak 45-9 (includes: the required Eight Hour Survey course (which includes topics in Fair Housing, Trust Funds, Ethics, and Agency) along with the required Risk Management course and 33 hours in Consumer Protection)

How do theses changes affect licensees?

  • If the licensee does not pass the final exam in two attempts the course must be marked as failed, the course is over, and the licensee will not receive credit for that course.  If the licensee wants to obtain course credit, the licensee must enroll in the course and retake it from the beginning. *Please note that OnlineEd does NOT charge for retakes.
  • All courses are to be timed. The licensee must actively participate in reading, studying, and completing the exercises in this course before being given access to the final exam. The licensee’s time while logged into the course and engaged in course activities must be timed by the course provider.
  • The licensee may not complete more than 8 hours of course study per day and no more than 15 credit hours of final exams in any rolling 24-hour period. The licensee must also wait 24 hours from enrollment before being given access to the first course final exam.

Other Important Information

  • These changes are required by the DRE of all online continuing education providers. If you are enrolled in courses that do not meet these guidelines the DRE will not accept your license renewal.
  • OnlineEd® courses are completed entirely online. Materials do not need to be printed and nothing is completed offline.
  • OnlineEd® courses are mastery-based. This means that the licensee will master the current course lesson before moving on to the next.
  • Completion credit will be issued immediately after the licensee has completed the entire course and passed all exams with the minimum passing score. There isn’t any waiting to receive your certificate.
  • OnlineEd® courses are available 24/7. The licensee can can quit or resume progress of a course at any time.  The OnlineEd® system automatically registers activity so the licensee is not required to keep time records.
  • The licensee can go back and view content previously completed and may also retake quizzes for practice.
  • Licensees are not required to have or download any software.

*Update 01/19/2011*

All continuing education providers must meet these DRE requirements for education to be valid. You may view the requirements HERE .

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OnlineEd® is a California DRE approved course provider and has met the January 1, 2011 course delivery requirements. To learn more about OnlineEd or see their real estate license continuing education catalog please visit www.OnlineEd.com or contact us by telephone at 866.519.9597

DRE Provider # 4056