While rummaging around for more study tips to share with students I came across these two great little pointers by Rolf W. Seebach. Seebach emphasizes that when it comes to learning, “stress and fatigue play a role, as does lack of interest.” Imagine that! Are you finding it difficult to remember all those scintillating laws
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We all know how stressful and difficult being in the mortgage business can be at times. Occasionally though, a little gem pops up and brightens the day. Here for your amusement is a little scenario that only those of us who know the lingo of our business will get a chuckle out of.A church minister and his wife are applying for a mortgage
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Within our online mortgage courses are many legal citations. Each citation refers to a federal or state law or rule that is the source for the material being explained. During your mortgage education you may occasionally want to go directly to a law or rule for more information.
There is a difference between a law and a rul
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Before we move on, I need to come clean! Last week, I spouted off that the secret to passing the NMLS tests is Hard Work. Relentless application to study… sacrificing family, gym and movie nights… incessant note taking, outlining and highlighting ad nauseum.
Well... I lied! Not about the highlighting…about the hard
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Q: What has 2300 pages, takes 150 pages to summarize, has sixteen different section titles, creates 243 new federal administrative rules and mandates 67 studies that require 22 periodic reports?
A: The Dodd-Frank Wall Street Reform and Consumer Protection Act.
One of the sixteen titles in the Dodd-Frank Act, Title
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RESPA regulations state that when you issue a GFE, you must guarantee its terms for at least ten business days. In the “olden days” it was a relatively simple matter to issue and send a revised GFE if you made an error… but those days are gone. And if you aren’t paying attention (and sometimes even if you are
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You’ve already taken the NMLS test more than once. Three times? No kidding! Your roommate tells you he heard you trying to answer quiz questions in your sleep. You're on your third, tattered copy of our Federal Regulations Study Aid and have a standing reservation at the testing center. So you ask, what's it take to pass the dang NMLS exam? W
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As you probably know by now, every state licensed mortgage loan originator is required to complete a credit report authorization through NMLS. Even if your credit information was previously received by a state regulator, you must authorize the report. However, federally registered MLOs are not required to authorize a credit report p
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