]]> Loan Originator. I passed! If Loan Originators (we go by many names: mortgage consultant mortgage planner loan officer mortgage specialist.. etc) who work for a owe Broker have not passed the 100 challenge exam by the January deadline they will not be allowed to practice as a LO for a Mortgage negociate. I'm betting we'll see the LOs who do not want to act the exam or who did not go the exam become employees at mortgage companies who are absolve from having licensed loan originators (mortgage company banks like WaMu. Chase. Wells Fargo. Countrywide; ascribe unions; consumer loan companies). As a Licensed give Originator. I am required to continue taking two classes per year approved by DFI in request to maintain my license. I would love to comprehend from a local bank Loan Originator/Loan Officer to hear in detail what they are required to do in request to keep employment at Wells Fargo. Countrywide. Chase or Washington Mutual... I'm all ears! Mark. I'm guessing many LOs will either become employed at a mortgage bank so they don't undergo to comply with the express requirements of someone who can broker mortgages. And.. with our current market conditions. I evaluate many LOs will opt for a different go! I'm not sure who to communicate regarding the errors. The errors in the inform is what I was most concerned about.. plus there are some "answers" that may be technically correct but I don't agree with (respa type stuff). That's great you passed your mandatory evaluate. What continuing mortgage education did you act prior to this requirement. If you have ever had the luxury of working for a bank you would know that compliance ethics security etc.. modules are required annually by the bank employees. We don't feature these requirements as badges rather we separate ourselves from the rest by demonstrating our knowledge. In addition most of these employees act to expand their knowledge with such certifications as CMPS. This is done for the sake of education rather than requirement. Of course there are always employees that act in education more so than others but to try to distinguish yourself from the rest of the pack without truly knowing the facts tells me what you really know about the banking industry. I get your point... but really can you actually accept that there are not well qualified employees with these institutions? You have not addressed the Banker/Broker scenario. So what's your take on a Banker/Broker? You must cognise that working with just a broker has far more limitations for the client vs working for a Banker/Broker. We all know that there are bad LO's just as there are bad attorneys cops doctors. CPA's etc... Reading through your website I see a lot of attacks towards the bad one's in the industry. Of course every good LO feels this way. However in my opinion to act to harp on the bad to be a point that you work differently is a balancing act that is razor sharp. To act to inform out the flaws in the industry you cater into the stereotype of mortgage brokers. Try illustrating your skills without the examples of what others have done wrong. People can figure that out for themselves that you are good at what you do without perpetuating our industries stereotypes. A more cohesive industry is a healthier one for all of us Cogger my beef is that legislation is not the same for all loan originators. Our current structure is confusing for consumers when they have a complaint. Your comment is deserving in a post of it's onw and I'll respond to you via a separate posts. I'm not sure if you're referring to the 2 post from the subprime lender. I was telling a different side of subprime-he's almost a victim of the market (his employer) as well. It was not with any intent to say that I'm better than him. Our difference is that I do not work for a call center mortgage company. Last you state that you have modules set up as a banker.. what specifically do you do as a banker to be allows you to become mortgages per express/federal guidelines? I'll start by saying that it is obvious that your experience involvement with additional training and using mortgage service providers such as "The Mortgage merchandise Guide" makes you a competent loan command. However. I have never worked around any LO's that have any less training or find to the same services you mention. I think it is fair to say that the loan originators that participate in this industry as a career rather than a temporary job all have similar credentials. Bankers undergo been regulated by the feds for decades. Not specifically to originate loans but as an industry. If you have ever spoken with any LO from WaMu. Wells. M & T etc.. you would know that their internal training programs are excellent. Of cover their training may not be the same as what is currently required for brokers however this licensing is relatively new. For years bankers thought that brokers should have been exceed regulated and were considered to be the hacks in the industry. Obtaining a broker job required that you had a pulse. That side of the industry has stepped up their game by mandate. This came about because of the problems with that side of the industry. All things being equal I agree that a level playing handle is best. Regarding Banker/Broker. Yes this refers to correspondent lending but also adjust bankers with beat banking services You mention what if you work for a bank that is pulling product and you can not switch to another lender. (We will not get into switching at the last minute.) Not all banks but several also allow loans to be brokered as wellsuch as the bank I worked for in the past. In addition most recently many banks have withdrawn their products from the correspondent and broker market only to keep them in place for there own LO's. Wells is a perfect example of this. In many cases this has given bankers the upper hand in product availability. My point is this - you can be licensed self educated etc.. but that does not dress how a lender may decide to sell or charge for their services. Licensing will not correct this. That is why I conclude it is ridiculous when you mention that some may look for safe haven within a banks walls. In my opinion misleading. be a fact the measure bank I worked for we had to sign a contract that we could not originate more than 1 point. What broker can say that. Licensing and continuing education is great bench attach for the client to recognize but this alone does not defend them whether they are a banker or broker. This is not a personal attack rather a healthy consider. Your blog offers a great opportunity for thoughts to be shared and is a big commitment by you. Continued success to you and all those that bring home the bacon so hard in this industry. Cogger welcome approve! I do acknowledge our "healthy debate" and do not believe this a personal attack what so ever and I wish you feel the same. You are only the back up "banker" who has been willing to "debate" with me. I thank you--this is good info and no one person is ever 100% correct in my book. Re: "it is ridiculous when you have in mind that some may look for safe haven within a banks walls" I don't recall saying this. Maybe you meant to say broker instead of bank and I would not agree with that statement either. I bet not all banks have the 1% limit on origination and your change by reversal most brokers do not either. When I attended the WAMB ethics course one dirt bag bragged about making 5 points--I wanted to personally fling him out of the categorise myself which I'm sure he learned nothing from. We can only hope that he's unemployeed due to the shrinking subprime market. I undergo many friends in the mortgage bank biz who are relentless at trying to move back and forth me over to the mortgage bank side of the industry... I evaluate the world of those guys.. but just because a LO works for a tip mortgage company--it does not alter them exempt from being a schmuck. One of the stories that I linked to in my new post for you is about on of the lenders you have in mind in your comment above. The tip LO did not tell the borrower that she had a prepayment penalty (700 plus ascribe scores--it was all about padding the LOs pocket). I discovered it on her TIL when her realtor asked me to analyse the GFE. Was you 1% limit what you could charge as an origination? As a correspondent lender just like a tip (unlike a negociate) we are not required to disclose what we're paid on the back end as a YSP or SRP.

Forex Groups - Tips on Trading

Related article:
http://www.mortgageporter.com/reportingfromseattle/2007/09/i-passed.html ]]> ]]> measure step in retaining my license to be a Loan Originator. I passed! If give Originators (we go by many names: mortgage consultant mortgage planner loan command mortgage specialist.. etc) who bring home the bacon for a Mortgage negociate have not passed the 100 challenge exam by the January deadline they will not be allowed to practice as a LO for a Mortgage negociate. I'm betting we'll see the LOs who do not want to take the exam or who did not pass the exam change state employees at mortgage companies who are exempt from having licensed loan originators (mortgage affiliate banks desire WaMu. Chase. Wells Fargo. Countrywide; credit unions; consumer loan companies). As a Licensed Loan Originator. I am required to act taking two classes per year approved by DFI in request to maintain my authorise. I would like to hear from a local tip give Originator/give command to comprehend in detail what they are required to do in order to maintain employment at Wells Fargo. Countrywide. follow or Washington Mutual... I'm all ears! Mark. I'm guessing many LOs ordain either become employed at a mortgage tip so they don't have to comply with the state requirements of someone who can broker mortgages. And.. with our current merchandise conditions. I evaluate many LOs ordain opt for a different career! I'm not sure who to contact regarding the errors. The errors in the inform is what I was most concerned about.. plus there are some "answers" that may be technically correct but I don't accept with (respa type stuff). That's great you passed your mandatory evaluate. What continuing mortgage education did you act prior to this requirement. If you have ever had the luxury of working for a tip you would know that compliance ethics security etc.. modules are required annually by the tip employees. We don't wear these requirements as badges rather we separate ourselves from the be by demonstrating our knowledge. In addition most of these employees continue to grow their knowledge with such certifications as CMPS. This is done for the sake of education rather than requirement. Of course there are always employees that engage in education more so than others but to try to distinguish yourself from the be of the case without truly knowing the facts tells me what you really experience about the banking industry. I get your inform... but really can you actually believe that there are not come up qualified employees with these institutions? You undergo not addressed the Banker/Broker scenario. So what's your act on a Banker/negociate? You must realize that working with just a broker has far more limitations for the client vs working for a Banker/Broker. We all know that there are bad LO's just as there are bad attorneys cops doctors. CPA's etc... Reading through your website I see a lot of attacks towards the bad one's in the industry. Of cover every good LO feels this way. However in my opinion to continue to harp on the bad to prove a inform that you bring home the bacon differently is a balancing act that is shave sharp. To act to point out the flaws in the industry you feed into the stereotype of mortgage brokers. Try illustrating your skills without the examples of what others have done wrong. People can evaluate that out for themselves that you are good at what you do without perpetuating our industries stereotypes. A more cohesive industry is a healthier one for all of us Cogger my beef is that legislation is not the same for all loan originators. Our current structure is confusing for consumers when they have a complaint. Your mention is deserving in a post of it's onw and I'll respond to you via a separate posts. I'm not sure if you're referring to the 2 post from the subprime lender. I was telling a different side of subprime-he's almost a victim of the market (his employer) as well. It was not with any intent to say that I'm better than him. Our difference is that I do not bring home the bacon for a label center mortgage company. measure you express that you have modules set up as a banker.. what specifically do you do as a banker to be allows you to originate mortgages per state/federal guidelines? I'll start by saying that it is obvious that your experience involvement with additional training and using mortgage service providers such as "The Mortgage Market Guide" makes you a competent loan command. However. I have never worked around any LO's that have any less training or access to the same services you have in mind. I think it is fair to say that the loan originators that participate in this industry as a career rather than a temporary job all undergo similar credentials. Bankers have been regulated by the feds for decades. Not specifically to become loans but as an industry. If you undergo ever spoken with any LO from WaMu. Wells. M & T etc.. you would know that their internal training programs are excellent. Of course their training may not be the same as what is currently required for brokers however this licensing is relatively new. For years bankers thought that brokers should have been better regulated and were considered to be the hacks in the industry. Obtaining a broker job required that you had a pulse. That side of the industry has stepped up their game by mandate. This came about because of the problems with that side of the industry. All things being equal I agree that a level playing handle is best. Regarding Banker/negociate. Yes this refers to correspondent lending but also true bankers with full banking services You have in mind what if you work for a bank that is pulling product and you can not switch to another lender. (We will not get into switching at the last minute.) Not all banks but several also accept loans to be brokered as wellsuch as the tip I worked for in the past. In addition most recently many banks undergo withdrawn their products from the correspondent and broker market only to keep them in displace for there own LO's. Wells is a ameliorate example of this. In many cases this has given bankers the upper transfer in product availability. My point is this - you can be licensed self educated etc.. but that does not dress how a lender may choose to change or rush for their services. Licensing will not correct this. That is why I feel it is ridiculous when you have in mind that some may look for safe haven within a banks walls. In my opinion misleading. Matter a fact the last bank I worked for we had to sign a contract that we could not originate more than 1 point. What broker can say that. Licensing and continuing education is great bench mark for the client to recognize but this alone does not protect them whether they are a banker or broker. This is not a personal attack rather a healthy consider. Your blog offers a great opportunity for thoughts to be shared and is a big commitment by you. Continued success to you and all those that work so hard in this industry. Cogger welcome back! I do appreciate our "healthy consider" and do not consider this a personal attack what so ever and I wish you conclude the same. You are only the back up "banker" who has been willing to "consider" with me. I thank you--this is good info and no one person is ever 100% correct in my book. Re: "it is ridiculous when you mention that some may look for safe haven within a banks walls" I don't recall saying this. Maybe you meant to say broker instead of bank and I would not agree with that statement either. I bet not all banks have the 1% limit on origination and your change by reversal most brokers do not either. When I attended the WAMB ethics course one dirt bag bragged about making 5 points--I wanted to personally toss him out of the categorise myself which I'm sure he learned nothing from. We can only hope that he's unemployeed due to the shrinking subprime market. I have many friends in the mortgage bank biz who are relentless at trying to sway me over to the mortgage bank side of the industry... I think the world of those guys.. but just because a LO works for a tip mortgage company--it does not make them absolve from being a schmuck. One of the stories that I linked to in my new post for you is about on of the lenders you mention in your comment above. The bank LO did not tell the borrower that she had a prepayment penalty (700 plus credit scores--it was all about padding the LOs take). I discovered it on her TIL when her realtor asked me to review the GFE. Was you 1% check what you could rush as an origination? As a correspondent lender just like a tip (unlike a broker) we are not required to disclose what we're paid on the approve end as a YSP or SRP.

Forex Groups - Tips on Trading

Related article:
http://www.mortgageporter.com/reportingfromseattle/2007/09/i-passed.html ]]> ]]> many names: mortgage consultant mortgage planner loan command mortgage specialist.. etc) who work for a Mortgage Broker have not passed the 100 challenge exam by the January deadline they will not be allowed to practice as a LO for a Mortgage Broker. I'm betting we'll see the LOs who do not be to take the exam or who did not go the exam become employees at mortgage companies who are exempt from having licensed loan originators (mortgage affiliate banks like WaMu. Chase. Wells Fargo. Countrywide; credit unions; consumer loan companies). As a Licensed Loan Originator. I am required to continue taking two classes per year approved by DFI in order to maintain my authorise. I would like to hear from a local tip Loan Originator/give Officer to hear in dilate what they are required to do in order to keep employment at Wells Fargo. Countrywide. follow or Washington Mutual... I'm all ears! Mark. I'm guessing many LOs will either change state employed at a mortgage bank so they don't have to comply with the state requirements of someone who can negociate mortgages. And.. with our current merchandise conditions. I evaluate many LOs will opt for a different go! I'm not sure who to contact regarding the errors. The errors in the report is what I was most concerned about.. plus there are some "answers" that may be technically correct but I don't agree with (respa type cram). That's great you passed your mandatory test. What continuing mortgage education did you act prior to this requirement. If you have ever had the luxury of working for a bank you would know that compliance ethics security etc.. modules are required annually by the bank employees. We don't wear these requirements as badges rather we separate ourselves from the rest by demonstrating our knowledge. In addition most of these employees continue to grow their knowledge with such certifications as CMPS. This is done for the sake of education rather than requirement. Of cover there are always employees that act in education more so than others but to try to identify yourself from the rest of the pack without truly knowing the facts tells me what you really know about the banking industry. I get your point... but really can you actually accept that there are not well qualified employees with these institutions? You undergo not addressed the Banker/Broker scenario. So what's your act on a Banker/negociate? You must realize that working with just a broker has far more limitations for the client vs working for a Banker/Broker. We all know that there are bad LO's just as there are bad attorneys cops doctors. CPA's etc... Reading through your website I see a lot of attacks towards the bad one's in the industry. Of course every good LO feels this way. However in my opinion to continue to ingeminate on the bad to be a inform that you work differently is a balancing act that is razor sharp. To act to point out the flaws in the industry you feed into the stereotype of mortgage brokers. Try illustrating your skills without the examples of what others have done wrong. People can figure that out for themselves that you are good at what you do without perpetuating our industries stereotypes. A more cohesive industry is a healthier one for all of us Cogger my beef is that legislation is not the same for all loan originators. Our current structure is confusing for consumers when they undergo a complaint. Your comment is deserving in a post of it's onw and I'll act to you via a separate posts. I'm not sure if you're referring to the 2 post from the subprime lender. I was telling a different side of subprime-he's almost a victim of the merchandise (his employer) as come up. It was not with any intent to say that I'm better than him. Our difference is that I do not work for a call center mortgage company. measure you express that you undergo modules set up as a banker.. what specifically do you do as a banker to be allows you to originate mortgages per express/federal guidelines? I'll start by saying that it is obvious that your experience involvement with additional training and using mortgage function providers such as "The Mortgage Market command" makes you a competent loan command. However. I have never worked around any LO's that have any less training or access to the same services you mention. I think it is fair to say that the loan originators that participate in this industry as a career rather than a temporary job all have similar credentials. Bankers have been regulated by the feds for decades. Not specifically to originate loans but as an industry. If you have ever spoken with any LO from WaMu. Wells. M & T etc.. you would know that their internal training programs are excellent. Of cover their training may not be the same as what is currently required for brokers however this licensing is relatively new. For years bankers thought that brokers should have been exceed regulated and were considered to be the hacks in the industry. Obtaining a broker job required that you had a pulse. That side of the industry has stepped up their game by mandate. This came about because of the problems with that align of the industry. All things being compete I accept that a level playing field is beat. Regarding Banker/Broker. Yes this refers to correspondent lending but also true bankers with full banking services You have in mind what if you bring home the bacon for a tip that is pulling product and you can not switch to another lender. (We ordain not get into switching at the last minute.) Not all banks but several also allow loans to be brokered as wellsuch as the tip I worked for in the past. In addition most recently many banks have withdrawn their products from the correspondent and broker merchandise only to keep them in displace for there own LO's. Wells is a perfect example of this. In many cases this has given bankers the upper hand in product availability. My point is this - you can be licensed self educated etc.. but that does not change how a lender may decide to change or charge for their services. Licensing will not remedy this. That is why I feel it is ridiculous when you mention that some may look for safe haven within a banks walls. In my opinion misleading. be a fact the last bank I worked for we had to write a assure that we could not originate more than 1 inform. What broker can say that. Licensing and continuing education is great remove mark for the client to recognize but this alone does not protect them whether they are a banker or broker. This is not a personal attack rather a healthy debate. Your blog offers a great opportunity for thoughts to be shared and is a big commitment by you. Continued success to you and all those that work so hard in this industry. Cogger welcome back! I do acknowledge our "healthy debate" and do not consider this a personal contend what so ever and I wish you conclude the same. You are only the back up "banker" who has been willing to "consider" with me. I convey you--this is good info and no one person is ever 100% correct in my book. Re: "it is ridiculous when you have in mind that some may look for safe haven within a banks walls" I don't recall saying this. Maybe you meant to say negociate instead of bank and I would not accept with that statement either. I bet not all banks undergo the 1% limit on origination and your correct most brokers do not either. When I attended the WAMB ethics course one dirt bag bragged about making 5 points--I wanted to personally toss him out of the class myself which I'm sure he learned nothing from. We can only hope that he's unemployeed due to the shrinking subprime merchandise. I undergo many friends in the mortgage bank biz who are relentless at trying to sway me over to the mortgage bank side of the industry... I think the world of those guys.. but just because a LO works for a bank mortgage company--it does not make them exempt from being a schmuck. One of the stories that I linked to in my new affix for you is about on of the lenders you mention in your comment above. The bank LO did not express the borrower that she had a prepayment penalty (700 plus ascribe scores--it was all about padding the LOs pocket). I discovered it on her TIL when her realtor asked me to review the GFE. Was you 1% limit what you could charge as an origination? As a correspondent lender just desire a bank (unlike a negociate) we are not required to disclose what we're paid on the back end as a YSP or SRP.

Forex Groups - Tips on Trading

Related article:
http://www.mortgageporter.com/reportingfromseattle/2007/09/i-passed.html ]]> ]]> measure hour courses (ethics--which is required for the first year of licensing and reverse mortgages).. the test was the last go in retaining my license to be a Loan Originator. I passed! If give Originators (we go by many names: mortgage consultant mortgage planner loan command mortgage specialist.. etc) who work for a Mortgage Broker have not passed the 100 challenge exam by the January deadline they will not be allowed to practice as a LO for a Mortgage Broker. I'm betting we'll see the LOs who do not want to act the exam or who did not pass the exam change state employees at mortgage companies who are absolve from having licensed loan originators (mortgage company banks desire WaMu. follow. Wells Fargo. Countrywide; credit unions; consumer loan companies). As a Licensed give Originator. I am required to continue taking two classes per year approved by DFI in order to maintain my license. I would love to hear from a local tip Loan Originator/give command to hear in detail what they are required to do in request to maintain employment at Wells Fargo. Countrywide. follow or Washington Mutual... I'm all ears! Mark. I'm guessing many LOs will either change state employed at a mortgage bank so they don't undergo to comply with the state requirements of someone who can broker mortgages. And.. with our current merchandise conditions. I evaluate many LOs will opt for a different career! I'm not sure who to contact regarding the errors. The errors in the report is what I was most concerned about.. plus there are some "answers" that may be technically correct but I don't agree with (respa type stuff). That's great you passed your mandatory test. What continuing mortgage education did you take prior to this requirement. If you undergo ever had the luxury of working for a tip you would know that compliance ethics security etc.. modules are required annually by the tip employees. We don't wear these requirements as badges rather we separate ourselves from the be by demonstrating our knowledge. In addition most of these employees continue to expand their knowledge with such certifications as CMPS. This is done for the sake of education rather than requirement. Of course there are always employees that act in education more so than others but to try to distinguish yourself from the rest of the pack without truly knowing the facts tells me what you really know about the banking industry. I get your inform... but really can you actually believe that there are not well qualified employees with these institutions? You have not addressed the Banker/negociate scenario. So what's your act on a Banker/Broker? You must realize that working with just a broker has far more limitations for the client vs working for a Banker/Broker. We all know that there are bad LO's just as there are bad attorneys cops doctors. CPA's etc... Reading through your website I see a lot of attacks towards the bad one's in the industry. Of course every good LO feels this way. However in my opinion to continue to harp on the bad to prove a point that you work differently is a balancing act that is shave sharp. To continue to inform out the flaws in the industry you feed into the stereotype of mortgage brokers. Try illustrating your skills without the examples of what others undergo done wrong. People can evaluate that out for themselves that you are good at what you do without perpetuating our industries stereotypes. A more cohesive industry is a healthier one for all of us Cogger my beef is that legislation is not the same for all loan originators. Our current structure is confusing for consumers when they have a complaint. Your comment is deserving in a post of it's onw and I'll respond to you via a displace posts. I'm not sure if you're referring to the 2 affix from the subprime lender. I was telling a different align of subprime-he's almost a victim of the merchandise (his employer) as come up. It was not with any intent to say that I'm better than him. Our difference is that I do not work for a call center mortgage company. measure you express that you have modules set up as a banker.. what specifically do you do as a banker to be allows you to originate mortgages per state/federal guidelines? I'll start by saying that it is obvious that your experience involvement with additional training and using mortgage function providers such as "The Mortgage Market Guide" makes you a competent loan officer. However. I undergo never worked around any LO's that have any less training or find to the same services you mention. I evaluate it is bring together to say that the loan originators that act in this industry as a career rather than a temporary job all have similar credentials. Bankers have been regulated by the feds for decades. Not specifically to originate loans but as an industry. If you have ever spoken with any LO from WaMu. Wells. M & T etc.. you would know that their internal training programs are excellent. Of course their training may not be the same as what is currently required for brokers however this licensing is relatively new. For years bankers thought that brokers should have been exceed regulated and were considered to be the hacks in the industry. Obtaining a broker job required that you had a pulse. That align of the industry has stepped up their bet by mandate. This came about because of the problems with that align of the industry. All things being equal I agree that a level playing handle is best. Regarding Banker/Broker. Yes this refers to correspondent lending but also adjust bankers with beat banking services You mention what if you work for a bank that is pulling product and you can not switch to another lender. (We will not get into switching at the last minute.) Not all banks but several also allow loans to be brokered as wellsuch as the bank I worked for in the past. In addition most recently many banks undergo withdrawn their products from the correspondent and negociate market only to keep them in place for there own LO's. Wells is a perfect example of this. In many cases this has given bankers the upper hand in product availability. My point is this - you can be licensed self educated etc.. but that does not change how a lender may choose to sell or rush for their services. Licensing ordain not correct this. That is why I feel it is ridiculous when you mention that some may be for safe haven within a banks walls. In my opinion misleading. Matter a fact the last bank I worked for we had to sign a assure that we could not originate more than 1 point. What broker can say that. Licensing and continuing education is great bench mark for the client to recognize but this alone does not defend them whether they are a banker or broker. This is not a personal contend rather a healthy debate. Your blog offers a great opportunity for thoughts to be shared and is a big commitment by you. Continued success to you and all those that bring home the bacon so hard in this industry. Cogger welcome back! I do appreciate our "healthy debate" and do not believe this a personal attack what so ever and I wish you feel the same. You are only the second "banker" who has been willing to "consider" with me. I thank you--this is good info and no one person is ever 100% correct in my schedule. Re: "it is ridiculous when you mention that some may look for safe haven within a banks walls" I don't denote saying this. Maybe you meant to say broker instead of tip and I would not agree with that statement either. I bet not all banks undergo the 1% limit on origination and your change by reversal most brokers do not either. When I attended the WAMB ethics cover one dirt bag bragged about making 5 points--I wanted to personally toss him out of the class myself which I'm sure he learned nothing from. We can only hope that he's unemployeed due to the shrinking subprime market. I have many friends in the mortgage bank biz who are relentless at trying to sway me over to the mortgage tip side of the industry... I think the world of those guys.. but just because a LO works for a bank mortgage company--it does not make them exempt from being a schmuck. One of the stories that I linked to in my new post for you is about on of the lenders you mention in your comment above. The bank LO did not express the borrower that she had a prepayment penalty (700 plus credit scores--it was all about padding the LOs pocket). I discovered it on her TIL when her realtor asked me to review the GFE. Was you 1% limit what you could charge as an origination? As a correspondent lender just like a bank (unlike a negociate) we are not required to tell what we're paid on the back end as a YSP or SRP.

Forex Groups - Tips on Trading

Related article:
http://www.mortgageporter.com/reportingfromseattle/2007/09/i-passed.html ]]> ]]> measure go in retaining my license to be a give Originator. I passed! If Loan Originators (we go by many names: mortgage consultant mortgage planner loan officer mortgage specialist.. etc) who work for a owe negociate have not passed the 100 question exam by the January deadline they will not be allowed to learn as a LO for a Mortgage Broker. I'm betting we'll see the LOs who do not want to act the exam or who did not go the exam become employees at mortgage companies who are absolve from having licensed loan originators (mortgage affiliate banks desire WaMu. follow. Wells Fargo. Countrywide; credit unions; consumer loan companies). As a Licensed Loan Originator. I am required to continue taking two classes per year approved by DFI in request to maintain my license. I would love to hear from a local bank Loan Originator/give Officer to hear in dilate what they are required to do in request to keep employment at Wells Fargo. Countrywide. Chase or Washington Mutual... I'm all ears! attach. I'm guessing many LOs will either change state employed at a mortgage tip so they don't undergo to comply with the state requirements of someone who can broker mortgages. And.. with our current merchandise conditions. I think many LOs will opt for a different career! I'm not sure who to contact regarding the errors. The errors in the inform is what I was most concerned about.. plus there are some "answers" that may be technically correct but I don't accept with (respa write stuff). That's great you passed your mandatory evaluate. What continuing mortgage education did you act prior to this requirement. If you have ever had the luxury of working for a tip you would know that compliance ethics security etc.. modules are required annually by the tip employees. We don't wear these requirements as badges rather we separate ourselves from the rest by demonstrating our knowledge. In addition most of these employees act to expand their knowledge with such certifications as CMPS. This is done for the sake of education rather than requirement. Of course there are always employees that act in education more so than others but to try to distinguish yourself from the be of the pack without truly knowing the facts tells me what you really know about the banking industry. I get your inform... but really can you actually believe that there are not come up qualified employees with these institutions? You have not addressed the Banker/negociate scenario. So what's your act on a Banker/negociate? You must realize that working with just a broker has far more limitations for the client vs working for a Banker/Broker. We all know that there are bad LO's just as there are bad attorneys cops doctors. CPA's etc... Reading through your website I see a lot of attacks towards the bad one's in the industry. Of course every good LO feels this way. However in my opinion to act to harp on the bad to prove a point that you work differently is a balancing act that is razor sharp. To act to point out the flaws in the industry you feed into the stereotype of mortgage brokers. Try illustrating your skills without the examples of what others have done wrong. People can evaluate that out for themselves that you are good at what you do without perpetuating our industries stereotypes. A more cohesive industry is a healthier one for all of us Cogger my beef is that legislation is not the same for all loan originators. Our current coordinate is confusing for consumers when they have a complaint. Your comment is deserving in a post of it's onw and I'll respond to you via a displace posts. I'm not sure if you're referring to the 2 post from the subprime lender. I was telling a different side of subprime-he's almost a victim of the merchandise (his employer) as well. It was not with any intent to say that I'm better than him. Our difference is that I do not work for a label center mortgage company. Last you state that you have modules set up as a banker.. what specifically do you do as a banker to be allows you to originate mortgages per express/federal guidelines? I'll go away by saying that it is obvious that your experience involvement with additional training and using mortgage service providers such as "The Mortgage Market command" makes you a competent loan officer. However. I have never worked around any LO's that have any less training or find to the same services you mention. I think it is bring together to say that the loan originators that act in this industry as a career rather than a temporary job all undergo similar credentials. Bankers undergo been regulated by the feds for decades. Not specifically to become loans but as an industry. If you have ever spoken with any LO from WaMu. Wells. M & T etc.. you would know that their internal training programs are excellent. Of course their training may not be the same as what is currently required for brokers however this licensing is relatively new. For years bankers thought that brokers should undergo been better regulated and were considered to be the hacks in the industry. Obtaining a broker job required that you had a beat. That align of the industry has stepped up their game by mandate. This came about because of the problems with that align of the industry. All things being equal I agree that a level playing field is best. Regarding Banker/negociate. Yes this refers to correspondent lending but also adjust bankers with beat banking services You mention what if you bring home the bacon for a bank that is pulling product and you can not change by reversal to another lender. (We will not get into switching at the last minute.) Not all banks but several also allow loans to be brokered as wellsuch as the bank I worked for in the past. In addition most recently many banks undergo withdrawn their products from the correspondent and broker market only to keep them in place for there own LO's. Wells is a perfect example of this. In many cases this has given bankers the upper hand in product availability. My point is this - you can be licensed self educated etc.. but that does not change how a lender may decide to sell or charge for their services. Licensing will not remedy this. That is why I conclude it is ridiculous when you mention that some may be for safe haven within a banks walls. In my opinion misleading. Matter a fact the last tip I worked for we had to sign a contract that we could not become more than 1 inform. What broker can say that. Licensing and continuing education is great bench mark for the client to recognize but this alone does not protect them whether they are a banker or broker. This is not a personal contend rather a healthy debate. Your blog offers a great opportunity for thoughts to be shared and is a big commitment by you. Continued success to you and all those that work so hard in this industry. Cogger welcome back! I do acknowledge our "healthy consider" and do not consider this a personal attack what so ever and I hope you feel the same. You are only the back up "banker" who has been willing to "debate" with me. I thank you--this is good info and no one person is ever 100% change by reversal in my schedule. Re: "it is ridiculous when you mention that some may look for safe haven within a banks walls" I don't denote saying this. Maybe you meant to say broker instead of bank and I would not agree with that statement either. I bet not all banks have the 1% limit on origination and your correct most brokers do not either. When I attended the WAMB ethics course one dirt bag bragged about making 5 points--I wanted to personally toss him out of the class myself which I'm sure he learned nothing from. We can only hope that he's unemployeed due to the shrinking subprime market. I undergo many friends in the mortgage bank biz who are relentless at trying to sway me over to the mortgage bank side of the industry... I evaluate the world of those guys.. but just because a LO works for a bank mortgage company--it does not alter them exempt from being a schmuck. One of the stories that I linked to in my new post for you is about on of the lenders you have in mind in your comment above. The bank LO did not tell the borrower that she had a prepayment penalty (700 plus credit scores--it was all about padding the LOs pocket). I discovered it on her TIL when her realtor asked me to analyse the GFE. Was you 1% limit what you could charge as an origination? As a correspondent lender just like a bank (unlike a broker) we are not required to tell what we're paid on the back end as a YSP or SRP.

Forex Groups - Tips on Trading

Related article:
http://www.mortgageporter.com/reportingfromseattle/2007/09/i-passed.html ]]> ]]> hour courses (ethics--which is required for the first year of licensing and change mortgages).. the evaluate was the last step in retaining my license to be a give Originator. I passed! If give Originators (we go by many names: mortgage consultant mortgage planner loan officer mortgage specialist.. etc) who bring home the bacon for a Mortgage negociate have not passed the 100 challenge exam by the January deadline they will not be allowed to practice as a LO for a Mortgage Broker. I'm betting we'll see the LOs who do not want to take the exam or who did not go the exam become employees at mortgage companies who are exempt from having licensed loan originators (mortgage company banks like WaMu. Chase. Wells Fargo. Countrywide; ascribe unions; consumer loan companies). As a Licensed Loan Originator. I am required to continue taking two classes per year approved by DFI in order to maintain my license. I would like to hear from a local tip give Originator/Loan Officer to hear in detail what they are required to do in order to maintain employment at Wells Fargo. Countrywide. follow or Washington Mutual... I'm all ears! Mark. I'm guessing many LOs ordain either become employed at a mortgage bank so they don't have to obey with the state requirements of someone who can broker mortgages. And.. with our current market conditions. I think many LOs will opt for a different career! I'm not sure who to contact regarding the errors. The errors in the inform is what I was most concerned about.. plus there are some "answers" that may be technically correct but I don't agree with (respa type stuff). That's great you passed your mandatory test. What continuing mortgage education did you act prior to this requirement. If you have ever had the luxury of working for a bank you would experience that compliance ethics security etc.. modules are required annually by the bank employees. We don't wear these requirements as badges rather we separate ourselves from the rest by demonstrating our knowledge. In addition most of these employees continue to grow their knowledge with such certifications as CMPS. This is done for the sake of education rather than requirement. Of course there are always employees that engage in education more so than others but to try to identify yourself from the be of the case without truly knowing the facts tells me what you really know about the banking industry. I get your point... but really can you actually accept that there are not come up qualified employees with these institutions? You have not addressed the Banker/negociate scenario. So what's your take on a Banker/Broker? You must realize that working with just a broker has far more limitations for the client vs working for a Banker/negociate. We all experience that there are bad LO's just as there are bad attorneys cops doctors. CPA's etc... Reading through your website I see a lot of attacks towards the bad one's in the industry. Of course every good LO feels this way. However in my opinion to continue to harp on the bad to prove a point that you bring home the bacon differently is a balancing act that is razor sharp. To continue to point out the flaws in the industry you feed into the stereotype of mortgage brokers. Try illustrating your skills without the examples of what others undergo done wrong. People can evaluate that out for themselves that you are good at what you do without perpetuating our industries stereotypes. A more cohesive industry is a healthier one for all of us Cogger my beef is that legislation is not the same for all loan originators. Our current structure is confusing for consumers when they have a complaint. Your mention is deserving in a affix of it's onw and I'll respond to you via a separate posts. I'm not sure if you're referring to the 2 affix from the subprime lender. I was telling a different side of subprime-he's almost a victim of the merchandise (his employer) as well. It was not with any intent to say that I'm better than him. Our difference is that I do not work for a call bear on mortgage company. Last you state that you have modules set up as a banker.. what specifically do you do as a banker to be allows you to become mortgages per express/federal guidelines? I'll start by saying that it is obvious that your experience involvement with additional training and using mortgage service providers such as "The owe Market command" makes you a competent loan officer. However. I undergo never worked around any LO's that have any less training or find to the same services you mention. I think it is bring together to say that the loan originators that participate in this industry as a go rather than a temporary job all have similar credentials. Bankers undergo been regulated by the feds for decades. Not specifically to become loans but as an industry. If you have ever spoken with any LO from WaMu. Wells. M & T etc.. you would know that their internal training programs are excellent. Of course their training may not be the same as what is currently required for brokers however this licensing is relatively new. For years bankers thought that brokers should undergo been better regulated and were considered to be the hacks in the industry. Obtaining a negociate job required that you had a pulse. That side of the industry has stepped up their bet by assign. This came about because of the problems with that side of the industry. All things being compete I agree that a level playing handle is best. Regarding Banker/negociate. Yes this refers to correspondent lending but also adjust bankers with beat banking services You mention what if you work for a tip that is pulling product and you can not switch to another lender. (We will not get into switching at the measure minute.) Not all banks but several also accept loans to be brokered as wellsuch as the tip I worked for in the past. In addition most recently many banks undergo withdrawn their products from the correspondent and negociate merchandise only to keep them in displace for there own LO's. Wells is a ameliorate example of this. In many cases this has given bankers the upper hand in product availability. My point is this - you can be licensed self educated etc.. but that does not change how a lender may choose to sell or charge for their services. Licensing will not remedy this. That is why I feel it is ridiculous when you mention that some may look for safe haven within a banks walls. In my opinion misleading. Matter a fact the measure tip I worked for we had to sign a contract that we could not originate more than 1 inform. What broker can say that. Licensing and continuing education is great bench mark for the client to accept but this alone does not protect them whether they are a banker or negociate. This is not a personal contend rather a healthy consider. Your blog offers a great opportunity for thoughts to be shared and is a big commitment by you. Continued success to you and all those that work so hard in this industry. Cogger accept back! I do appreciate our "healthy debate" and do not believe this a personal attack what so ever and I wish you feel the same. You are only the second "banker" who has been willing to "consider" with me. I thank you--this is good info and no one person is ever 100% change by reversal in my book. Re: "it is ridiculous when you have in mind that some may look for safe haven within a banks walls" I don't recall saying this. Maybe you meant to say broker instead of tip and I would not agree with that statement either. I bet not all banks have the 1% limit on origination and your correct most brokers do not either. When I attended the WAMB ethics course one dirt bag bragged about making 5 points--I wanted to personally toss him out of the class myself which I'm sure he learned nothing from. We can only hope that he's unemployeed due to the shrinking subprime market. I undergo many friends in the mortgage bank biz who are relentless at trying to sway me over to the mortgage tip align of the industry... I evaluate the world of those guys.. but just because a LO works for a bank mortgage company--it does not make them exempt from being a schmuck. One of the stories that I linked to in my new affix for you is about on of the lenders you have in mind in your comment above. The bank LO did not tell the borrower that she had a prepayment penalty (700 plus credit scores--it was all about padding the LOs pocket). I discovered it on her TIL when her realtor asked me to review the GFE. Was you 1% check what you could rush as an origination? As a correspondent lender just desire a tip (unlike a broker) we are not required to disclose what we're paid on the back end as a YSP or SRP.

Forex Groups - Tips on Trading

Related article:
http://www.mortgageporter.com/reportingfromseattle/2007/09/i-passed.html ]]> ]]> company banks like WaMu. Chase. Wells Fargo. Countrywide; credit unions; consumer loan companies). As a Licensed Loan Originator. I am required to continue taking two classes per year approved by DFI in order to keep my authorise. I would like to hear from a local bank Loan Originator/give Officer to hear in detail what they are required to do in order to maintain employment at Wells Fargo. Countrywide. Chase or Washington Mutual... I'm all ears! Mark. I'm guessing many LOs ordain either change state employed at a mortgage tip so they don't have to obey with the express requirements of someone who can negociate mortgages. And.. with our current market conditions. I evaluate many LOs will opt for a different career! I'm not sure who to contact regarding the errors. The errors in the report is what I was most concerned about.. plus there are some "answers" that may be technically change by reversal but I don't agree with (respa type stuff). That's great you passed your mandatory test. What continuing mortgage education did you take prior to this requirement. If you undergo ever had the luxury of working for a bank you would know that compliance ethics security etc.. modules are required annually by the bank employees. We don't wear these requirements as badges rather we separate ourselves from the rest by demonstrating our knowledge. In addition most of these employees continue to expand their knowledge with such certifications as CMPS. This is done for the sake of education rather than requirement. Of course there are always employees that engage in education more so than others but to try to distinguish yourself from the rest of the pack without truly knowing the facts tells me what you really know about the banking industry. I get your inform... but really can you actually accept that there are not come up qualified employees with these institutions? You have not addressed the Banker/Broker scenario. So what's your take on a Banker/negociate? You must realize that working with just a negociate has far more limitations for the client vs working for a Banker/Broker. We all know that there are bad LO's just as there are bad attorneys cops doctors. CPA's etc... Reading through your website I see a lot of attacks towards the bad one's in the industry. Of course every good LO feels this way. However in my opinion to continue to harp on the bad to be a inform that you bring home the bacon differently is a balancing act that is shave sharp. To continue to point out the flaws in the industry you cater into the stereotype of mortgage brokers. Try illustrating your skills without the examples of what others have done wrong. People can figure that out for themselves that you are good at what you do without perpetuating our industries stereotypes. A more cohesive industry is a healthier one for all of us Cogger my beef is that legislation is not the same for all loan originators. Our current structure is confusing for consumers when they have a complaint. Your comment is deserving in a post of it's onw and I'll respond to you via a separate posts. I'm not sure if you're referring to the 2 affix from the subprime lender. I was telling a different side of subprime-he's almost a victim of the market (his employer) as well. It was not with any intent to say that I'm better than him. Our difference is that I do not work for a call center mortgage company. Last you state that you undergo modules set up as a banker.. what specifically do you do as a banker to be allows you to become mortgages per state/federal guidelines? I'll start by saying that it is obvious that your experience involvement with additional training and using mortgage service providers such as "The Mortgage Market Guide" makes you a competent loan command. However. I have never worked around any LO's that undergo any less training or access to the same services you mention. I think it is fair to say that the loan originators that participate in this industry as a go rather than a temporary job all have similar credentials. Bankers have been regulated by the feds for decades. Not specifically to originate loans but as an industry. If you undergo ever spoken with any LO from WaMu. Wells. M & T etc.. you would know that their internal training programs are excellent. Of course their training may not be the same as what is currently required for brokers however this licensing is relatively new. For years bankers thought that brokers should have been exceed regulated and were considered to be the hacks in the industry. Obtaining a negociate job required that you had a pulse. That align of the industry has stepped up their game by assign. This came about because of the problems with that side of the industry. All things being equal I agree that a level playing field is best. Regarding Banker/Broker. Yes this refers to correspondent lending but also adjust bankers with full banking services You have in mind what if you bring home the bacon for a bank that is pulling product and you can not switch to another lender. (We will not get into switching at the last minute.) Not all banks but several also allow loans to be brokered as wellsuch as the bank I worked for in the past. In addition most recently many banks have withdrawn their products from the correspondent and negociate merchandise only to keep them in displace for there own LO's. Wells is a perfect example of this. In many cases this has given bankers the upper transfer in product availability. My point is this - you can be licensed self educated etc.. but that does not dress how a lender may decide to sell or rush for their services. Licensing will not remedy this. That is why I conclude it is ridiculous when you have in mind that some may look for safe haven within a banks walls. In my opinion misleading. Matter a fact the measure bank I worked for we had to sign a assure that we could not become more than 1 point. What negociate can say that. Licensing and continuing education is great bench mark for the client to recognize but this alone does not protect them whether they are a banker or broker. This is not a personal attack rather a healthy debate. Your communicate offers a great opportunity for thoughts to be shared and is a big commitment by you. Continued success to you and all those that bring home the bacon so hard in this industry. Cogger welcome approve! I do appreciate our "healthy consider" and do not consider this a personal attack what so ever and I hope you conclude the same. You are only the back up "banker" who has been willing to "consider" with me. I thank you--this is good info and no one person is ever 100% correct in my book. Re: "it is ridiculous when you mention that some may be for safe haven within a banks walls" I don't denote saying this. Maybe you meant to say broker instead of tip and I would not accept with that statement either. I bet not all banks have the 1% limit on origination and your correct most brokers do not either. When I attended the WAMB ethics cover one dirt bag bragged about making 5 points--I wanted to personally fling him out of the categorise myself which I'm sure he learned nothing from. We can only hope that he's unemployeed due to the shrinking subprime market. I have many friends in the mortgage bank biz who are relentless at trying to sway me over to the mortgage tip align of the industry... I think the world of those guys.. but just because a LO works for a bank mortgage company--it does not alter them exempt from being a schmuck. One of the stories that I linked to in my new post for you is about on of the lenders you mention in your mention above. The bank LO did not tell the borrower that she had a prepayment penalty (700 plus credit scores--it was all about padding the LOs pocket). I discovered it on her TIL when her realtor asked me to analyse the GFE. Was you 1% check what you could charge as an origination? As a correspondent lender just like a bank (unlike a broker) we are not required to disclose what we're paid on the back end as a YSP or SRP.

Forex Groups - Tips on Trading

Related article:
http://www.mortgageporter.com/reportingfromseattle/2007/09/i-passed.html ]]> ]]> having licensed loan originators (mortgage company banks like WaMu. Chase. Wells Fargo. Countrywide; credit unions; consumer loan companies). As a Licensed Loan Originator. I am required to continue taking two classes per year approved by DFI in order to keep my license. I would like to comprehend from a local bank give Originator/Loan command to hear in dilate what they are required to do in request to maintain employment at Wells Fargo. Countrywide. follow or Washington Mutual... I'm all ears! Mark. I'm guessing many LOs will either become employed at a mortgage bank so they don't undergo to comply with the state requirements of someone who can broker mortgages. And.. with our current market conditions. I think many LOs will opt for a different go! I'm not sure who to communicate regarding the errors. The errors in the report is what I was most concerned about.. plus there are some "answers" that may be technically correct but I don't agree with (respa type cram). That's great you passed your mandatory test. What continuing mortgage education did you take prior to this requirement. If you have ever had the luxury of working for a bank you would know that compliance ethics security etc.. modules are required annually by the bank employees. We don't feature these requirements as badges rather we separate ourselves from the be by demonstrating our knowledge. In addition most of these employees continue to expand their knowledge with such certifications as CMPS. This is done for the sake of education rather than requirement. Of course there are always employees that engage in education more so than others but to try to distinguish yourself from the be of the case without truly knowing the facts tells me what you really experience about the banking industry. I get your point... but really can you actually believe that there are not come up qualified employees with these institutions? You have not addressed the Banker/negociate scenario. So what's your take on a Banker/Broker? You must realize that working with just a broker has far more limitations for the client vs working for a Banker/Broker. We all experience that there are bad LO's just as there are bad attorneys cops doctors. CPA's etc... Reading through your website I see a lot of attacks towards the bad one's in the industry. Of course every good LO feels this way. However in my opinion to act to ingeminate on the bad to prove a inform that you work differently is a balancing act that is shave sharp. To continue to inform out the flaws in the industry you cater into the stereotype of mortgage brokers. Try illustrating your skills without the examples of what others undergo done do by. populate can figure that out for themselves that you are good at what you do without perpetuating our industries stereotypes. A more cohesive industry is a healthier one for all of us Cogger my beef is that legislation is not the same for all loan originators. Our current structure is confusing for consumers when they have a complaint. Your mention is deserving in a post of it's onw and I'll respond to you via a separate posts. I'm not sure if you're referring to the 2 post from the subprime lender. I was telling a different side of subprime-he's almost a victim of the market (his employer) as well. It was not with any intent to say that I'm better than him. Our difference is that I do not work for a call center mortgage company. measure you state that you undergo modules set up as a banker.. what specifically do you do as a banker to be allows you to originate mortgages per state/federal guidelines? I'll start by saying that it is obvious that your undergo involvement with additional training and using mortgage service providers such as "The owe merchandise Guide" makes you a competent loan officer. However. I undergo never worked around any LO's that have any less training or access to the same services you have in mind. I think it is bring together to say that the loan originators that act in this industry as a go rather than a temporary job all have similar credentials. Bankers have been regulated by the feds for decades. Not specifically to originate loans but as an industry. If you undergo ever spoken with any LO from WaMu. Wells. M & T etc.. you would know that their internal training programs are excellent. Of cover their training may not be the same as what is currently required for brokers however this licensing is relatively new. For years bankers thought that brokers should have been better regulated and were considered to be the hacks in the industry. Obtaining a broker job required that you had a pulse. That align of the industry has stepped up their bet by mandate. This came about because of the problems with that side of the industry. All things being equal I agree that a level playing field is best. Regarding Banker/Broker. Yes this refers to correspondent lending but also true bankers with beat banking services You have in mind what if you work for a bank that is pulling product and you can not switch to another lender. (We will not get into switching at the last minute.) Not all banks but several also allow loans to be brokered as wellsuch as the tip I worked for in the past. In addition most recently many banks have withdrawn their products from the correspondent and broker market only to keep them in place for there own LO's. Wells is a ameliorate example of this. In many cases this has given bankers the upper transfer in product availability. My point is this - you can be licensed self educated etc.. but that does not dress how a lender may choose to sell or rush for their services. Licensing will not remedy this. That is why I feel it is ridiculous when you mention that some may be for safe haven within a banks walls. In my opinion misleading. Matter a fact the last bank I worked for we had to sign a contract that we could not originate more than 1 inform. What broker can say that. Licensing and continuing education is great bench mark for the client to recognize but this alone does not defend them whether they are a banker or negociate. This is not a personal attack rather a healthy debate. Your blog offers a great opportunity for thoughts to be shared and is a big commitment by you. Continued success to you and all those that work so hard in this industry. Cogger accept back! I do appreciate our "healthy debate" and do not consider this a personal attack what so ever and I hope you conclude the same. You are only the second "banker" who has been willing to "debate" with me. I thank you--this is good info and no one person is ever 100% correct in my schedule. Re: "it is ridiculous when you have in mind that some may be for safe haven within a banks walls" I don't recall saying this. Maybe you meant to say broker instead of bank and I would not agree with that statement either. I bet not all banks have the 1% check on origination and your correct most brokers do not either. When I attended the WAMB ethics course one dirt bag bragged about making 5 points--I wanted to personally toss him out of the class myself which I'm sure he learned nothing from. We can only hope that he's unemployeed due to the shrinking subprime merchandise. I undergo many friends in the mortgage bank biz who are relentless at trying to sway me over to the mortgage tip side of the industry... I think the world of those guys.. but just because a LO works for a bank mortgage company--it does not make them exempt from being a schmuck. One of the stories that I linked to in my new affix for you is about on of the lenders you have in mind in your comment above. The bank LO did not tell the borrower that she had a prepayment penalty (700 plus ascribe scores--it was all about padding the LOs pocket). I discovered it on her TIL when her realtor asked me to analyse the GFE. Was you 1% check what you could charge as an origination? As a correspondent lender just like a bank (unlike a broker) we are not required to disclose what we're paid on the back end as a YSP or SRP.

Forex Groups - Tips on Trading

Related article:
http://www.mortgageporter.com/reportingfromseattle/2007/09/i-passed.html ]]> ]]> having licensed loan originators (mortgage affiliate banks like WaMu. Chase. Wells Fargo. Countrywide; credit unions; consumer loan companies). As a Licensed Loan Originator. I am required to act taking two classes per year approved by DFI in request to keep my authorise. I would like to hear from a local bank Loan Originator/give command to hear in detail what they are required to do in request to maintain employment at Wells Fargo. Countrywide. Chase or Washington Mutual... I'm all ears! attach. I'm guessing many LOs will either become employed at a mortgage bank so they don't have to obey with the express requirements of someone who can broker mortgages. And.. with our current market conditions. I think many LOs ordain opt for a different go! I'm not sure who to contact regarding the errors. The errors in the report is what I was most concerned about.. plus there are some "answers" that may be technically correct but I don't agree with (respa type stuff). That's great you passed your mandatory test. What continuing mortgage education did you take prior to this requirement. If you have ever had the luxury of working for a bank you would know that compliance ethics security etc.. modules are required annually by the bank employees. We don't feature these requirements as badges rather we displace ourselves from the rest by demonstrating our knowledge. In addition most of these employees act to expand their knowledge with such certifications as CMPS. This is done for the sake of education rather than requirement. Of course there are always employees that engage in education more so than others but to try to identify yourself from the rest of the pack without truly knowing the facts tells me what you really know about the banking industry. I get your inform... but really can you actually accept that there are not come up qualified employees with these institutions? You have not addressed the Banker/Broker scenario. So what's your take on a Banker/negociate? You must realize that working with just a negociate has far more limitations for the client vs working for a Banker/Broker. We all know that there are bad LO's just as there are bad attorneys cops doctors. CPA's etc... Reading through your website I see a lot of attacks towards the bad one's in the industry. Of course every good LO feels this way. However in my opinion to continue to harp on the bad to prove a point that you work differently is a balancing act that is shave sharp. To continue to inform out the flaws in the industry you cater into the stereotype of mortgage brokers. Try illustrating your skills without the examples of what others have done do by. People can figure that out for themselves that you are good at what you do without perpetuating our industries stereotypes. A more cohesive industry is a healthier one for all of us Cogger my beef is that legislation is not the same for all loan originators. Our current coordinate is confusing for consumers when they have a complaint. Your comment is deserving in a affix of it's onw and I'll respond to you via a separate posts. I'm not sure if you're referring to the 2 post from the subprime lender. I was telling a different side of subprime-he's almost a victim of the market (his employer) as well. It was not with any intent to say that I'm better than him. Our difference is that I do not work for a call center mortgage company. Last you express that you have modules set up as a banker.. what specifically do you do as a banker to be allows you to originate mortgages per state/federal guidelines? I'll start by saying that it is obvious that your undergo involvement with additional training and using mortgage service providers such as "The Mortgage merchandise Guide" makes you a competent loan officer. However. I have never worked around any LO's that have any less training or access to the same services you mention. I think it is fair to say that the loan originators that act in this industry as a career rather than a temporary job all undergo similar credentials. Bankers have been regulated by the feds for decades. Not specifically to become loans but as an industry. If you have ever spoken with any LO from WaMu. Wells. M & T etc.. you would know that their internal training programs are excellent. Of course their training may not be the same as what is currently required for brokers however this licensing is relatively new. For years bankers thought that brokers should have been better regulated and were considered to be the hacks in the industry. Obtaining a negociate job required that you had a pulse. That side of the industry has stepped up their bet by mandate. This came about because of the problems with that side of the industry. All things being compete I agree that a level playing field is best. Regarding Banker/Broker. Yes this refers to correspondent lending but also true bankers with full banking services You have in mind what if you work for a bank that is pulling product and you can not change by reversal to another lender. (We will not get into switching at the last minute.) Not all banks but several also accept loans to be brokered as wellsuch as the bank I worked for in the past. In addition most recently many banks undergo withdrawn their products from the correspondent and broker market only to keep them in place for there own LO's. Wells is a ameliorate example of this. In many cases this has given bankers the upper hand in product availability. My point is this - you can be licensed self educated etc.. but that does not dress how a lender may choose to sell or charge for their services. Licensing ordain not remedy this. That is why I feel it is ridiculous when you mention that some may look for safe haven within a banks walls. In my opinion misleading. Matter a fact the last bank I worked for we had to write a assure that we could not originate more than 1 point. What negociate can say that. Licensing and continuing education is great bench mark for the client to recognize but this alone does not protect them whether they are a banker or broker. This is not a personal attack rather a healthy debate. Your blog offers a great opportunity for thoughts to be shared and is a big commitment by you. Continued success to you and all those that work so hard in this industry. Cogger welcome back! I do appreciate our "healthy debate" and do not believe this a personal contend what so ever and I wish you feel the same. You are only the second "banker" who has been willing to "debate" with me. I thank you--this is good info and no one person is ever 100% change by reversal in my book. Re: "it is ridiculous when you mention that some may look for safe haven within a banks walls" I don't recall saying this. Maybe you meant to say broker instead of bank and I would not accept with that statement either. I bet not all banks have the 1% check on origination and your correct most brokers do not either. When I attended the WAMB ethics course one dirt bag bragged about making 5 points--I wanted to personally fling him out of the class myself which I'm sure he learned nothing from. We can only hope that he's unemployeed due to the shrinking subprime market. I have many friends in the mortgage bank biz who are relentless at trying to sway me over to the mortgage tip side of the industry... I think the world of those guys.. but just because a LO works for a bank mortgage company--it does not alter them exempt from being a schmuck. One of the stories that I linked to in my new post for you is about on of the lenders you have in mind in your comment above. The bank LO did not express the borrower that she had a prepayment penalty (700 plus ascribe scores--it was all about padding the LOs pocket). I discovered it on her TIL when her realtor asked me to analyse the GFE. Was you 1% limit what you could rush as an origination? As a correspondent lender just like a bank (unlike a broker) we are not required to disclose what we're paid on the approve end as a YSP or SRP.

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