2014 Loan Originator CE Courses

Hi Everyone!
Loan Originator CE course schedule can be found here.

This classroom course meets the requirements set forth in the SAFE Mortgage Licensing Act for loan originator license renewal.
The 8 Hour Course is good for LO CE in all 50 states
This course ALSO includes the required 1 Hour of Washington State CE

Note: If you took the CE course from me last year, this is a completely new course.  There is no rule against using the same course provider every year. Instead, LOs may not take the same course year after year. The 2014 courses are all new with new course numbers!

Course Outline:
3 Hours Federal Law
2 Hours Ethics, Consumer Protection, Fraud, Fair Housing
2 Hours Non-Traditional Lending
1 Hour Undefined: CFPB Proposed Rules on LO Compensation
also included at no extra cost:
1 Hour WA State Law
For 2014 we will cover the following and more:
  • Dodd Frank Appendix Q
  • 3% Points and Fees Calculation In The Qualified Mortgage Rule
  • Ability to Repay Exemptions
  • Expanded Definition of a Loan Originator
  • Three New Qualification Duties of Non-Licensed (Registered) LOs
  • Seven Permissible LO Compensation Methods Plus Profits-Based Comp Methods
  • New Rules for Seller Financing
  • ECOA Rules Regarding Written Valuations
  • SARS/AML Trends
  • The 2014 Draft of a Professional Code of Ethics Written and Edited By LOs
  • Fair Housing Case Studies, and a Local Mortgage Fraud Case

To the Students from the Dec 6, 2011 LO CE Class at Rockwell Bellevue

Here’s CR’s Graph Gallery. This is where I retrieve those great slides showing the delinquency numbers.

Here’s the WA State Foreclosure Fairness Act and here’s the new WA State Foreclosure Resource GuideThis is a VERY GOOD PDF for distressed homeowners.

Here’s a link to the WA State Bar Association where financially struggling homeowners can apply for free legal aid.

There was a question about bank fraud and shouldn’t we hold the bankers accountable for the mess? YES indeed, there are folks out there who agree with that.  Read what Bill Black has to say about this topic here.

Here’s a great article on the Eurozone crisis….and be sure to read Calculated Risk daily for Eurozone updates.

Here is the consumer access page of the NMLS

Do you want to give the CFPB input on the new GFE/TIL? Here’s your chance.

It’s beyond time to stop blaming Fannie,Freddie, and the CRA for the meltdown. From the NY Times:

“1. The Community Reinvestment Act of 1977 was irrelevant to the subprime boom, which was overwhelmingly driven by loan originators not subject to the Act.

2. The housing bubble reached its point of maximum inflation in the middle years of the naughties.

3. During those same years, Fannie and Freddie were sidelined by Congressional pressure, and saw a sharp drop in their share of securitization.”

Read more here.


Here’s the news story about women paying more for a mortgage loan because they tend to trust their loan originator.

Read more from Seattle Bubble about local Puget Sound foreclosure statistics and how the WA State Foreclosure Fairness Act is slowing down foreclosures.

Q: Is there Errors and Omission Insurance available for loan originators?

A: I did a simple google search and found that some states are requiring this, and it’s codified inside their state law.  So it does exist, state by state.

We talked about a great 60 Minutes episode this past Sunday that featured interviews with EVPs of Countrywide whistleblowers.

Here’s the final Consent Order against Paramount Equity….and the press release regarding the company’s owners.

More on Short Sale Fraud from Fannie Mae.

Westsound Bank Story…