Friday, May 28, 2010

On the Road Back to Recovery

If you follow the news as closely as I do, you are starting to hear some good outlooks for the US economy. Despite global fears and a shaky European economy, things are looking up. Chairman and Chief Investment Officer of T. Rowe Price, Brian Rogers recently told Fortune magazine "We're on the long and winding road of economic recovery. I think the markets have moved faster than the global economy, yet the global economy has shown some pretty good signs of progress."

Notwithstanding the hurdles and nasty parts of the road that are yet ahead of us, no one can complain that most signs of the economy are saying that we are on the road back. Things are still fragile, but at least they are not declining. It is a good time to judge where we, and our investments for that matter, are. What did we learn? What can we do to take advantage of the present economy? As real estate agents and loan originators, what can we do to better understand the financial situations of our clients so that we can help them make more financially sound decisions? As agents and mortgage brokers, we help our clients make some of the most important financial decisions of their lives, are we properly equipped to do so?

Wednesday, May 26, 2010

Pay Attention To Dates

I know it sounds like something your high school history teacher would tell you, but this time it really will affect you. Well it will affect you a lot more than your grade at least. As many NLMS and state guidelines are coming near, and with many of the deadlines changing without notice, it becomes a mortgage broker's responsibility to know when those dates are and to follow them strictly. Please consult your state's regulatory agency or the Praedo website for more detailed information. An apple on the desk will not get you out of this one.

Monday, May 24, 2010

Testing Centers Are Filling Up Fast

With SAFE testing deadlines starting to hit around the nation, mortgage brokers around the country are scrambling to register to take national and state exams. What they're coming to find out is that . . . testing centers are filled up. Usually the wait is only for a couple of days or weeks but some are finding out that if they don't want to wait a couple of months, they will have to make the drive, or even flight. Similar problems have arose in the past as students try to meet required deadlines and quickly find that testing centers are filled up in their area. They must to choose to drive to a different location (sometimes in a different state) or stop working until they can meet deadlines.

However, the situation that we currently are in is even more particular. As many states have similar deadlines, traveling to a different location (even in another state) may not be possible as many test centers may be booked past the required deadlines. If deadlines are not met, some loan originators may be forced to stop originating until they meet the deadlines. Do not wait. Register today! If you need help preparing for the test, contact us for SAFE prep materials!

Wednesday, May 19, 2010

Hot off the press . . . California Manuals

California state review manuals will begin shipping this Friday, May 21. Many mortgage brokers in California have tested poorly on California's state portion of the SAFE test. This manual prepares students for that portion of the test by covering all of the California laws that the 20-hour national SAFE course does not. If you have any questions or would like help ordering a California review manual, please contact us by clicking HERE.

Monday, May 17, 2010

Live SAFE Prep In Salt Lake This Thursday!!

Due to popular demand, we are running another live National SAFE test prep course this Thursday, May 20, 2010. This class will help current mortgage licensees prepare for the national portion of the SAFE test that all licensees must take and pass in 2010. The course will not only help you pass the exam but will count towards three hours of continuing education (2 hours of federal law and 1 hour of general). The class will be held at Salt Lake Community College at 9750 South 300 West in Sandy, Utah. The class will be held from 9 am - 12 pm.

Seats are going very quickly. Don't wait and sign up HERE TODAY!!

Wednesday, May 12, 2010

California Mortgage Manuals Coming Soon!

We have had many of our California students ask about state-specific test prep for California and we have heard your cries. We will have California state prep available this Friday for all of you distressed California loan officers who are looking to pass the test.

Many have also asked why wasn't there any California test prep in the 20-hour SAFE course? Now that loan originator education is federally policed by the NMLS, states had to choose how they want their loan officers licensed. For many states, such as California, it was a lot easier to simply require the standard 20-hour package that NMLS had approved rather than require state specific education and the 20-hour package. For this reason you are seeing a number of state-specific questions on the test that was not explained in the education.

Monday, May 10, 2010

Praedo on YouTube

Praedo Institute on YouTube. No that was not a typo. With all of the changes happening in the real estate and mortgage industries this year, we have extended our Praedo YouTube channel with the Praedo Video Series. This will allow mortgage brokers, agents, brokers, and managers alike stay on top of the changes that are affecting our industry.

Check it out today!! YouTube Channel

If you have a question that you would like us to address on the channel to use in your own training, send us an email at support@praedo.com

Friday, May 7, 2010

We Are Here To Help

We are here to help. That sounds like a copyrighted slogan from a Fortune 500 company, so I'm not going to use it any more so I don't get in trouble. But we really are. Our team is in constant communication with departments of real estate and while many large corporations have travel freezes, we are still traveling. We are traveling to find out what is going on and persuade for the best interest of the industry. We do this so that when you call or email us with a question, we will be there to help. So give us a try. I guarantee you will not be disappointed.

Wednesday, May 5, 2010

Can You Get Out of SAFE Testing & Education Requirements?

The deadline is quickly approaching for many to be able to opt out of their testing and education requirements. Some states have struck a deal with the NMLS that enables many of their licensees to opt out of testing and education requirements. While many state requirement deadlines and requirements are different, the process is relatively similar across the nation.

If you are eligible for exemption from any testing & educational requirements, you must transition all of your information to the NMLS system and submit an MU-4 Form. After transitioning over, you must certify that you meet the requirements (basically an excuse for NMLS to charge you a frivolous charge). If the state(s) that you are registered in concur that you are eligible for the exemption, you will be able to register as a mortgage licensee.

The problem is that the window is rapidly closing. NMLS has, in it's infinite wisdom, set up several dates that make meeting the requirements for opting out very difficult. If, for example in the State of Utah, you do not transition over to the NMLS system by the end of May, you are no longer eligible for certifying. It goes without saying that this date has been changed several times and many licensees across the nation are very confused. Please do not miss out on this opportunity. Please contact Praedo Institute or your local state government to determine whether or not you are eligible for the exemption.

Monday, May 3, 2010

St. George SAFE Prep This Thursday!!

St. George mortgage brokers wait no longer!! We are teaching a three hour mortgage SAFE prep course this Thursday, May 6. Sign up now so you can avoid the drive up to Salt Lake or down to Las Vegas. This three-hour preparation course will be your most important tool in passing the NMLS national and state exam. Sign up today as seats are going fast!!

SIGN UP HERE

We will see you there!!