Blog2022-12-19T11:21:03-05:00

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Recent News and Events

The All-Important Credit Score When Underwriting a Mortgage Loan Application!

The quality of an individual’s credit serves as a window into their creditworthiness. Individuals who are consistently or, even occasionally, late paying their credit obligations (and, by late, I’m referring to failing to remit the payment during the month in which it is due), who utilize more than 30% of a credit line’s available credit, who default on credit obligations, utilize numerous credit accounts, and even have limited-to-no credit all present potential signs of possessing a problematic credit character. When a lender considers lending hundreds of thousands of dollars to an applicant seeking to finance a home, it is perfectly [...]

Important Things to Know About Scheduling Your NMLS Exam!

You’ve finally finished studying and you’re ready to schedule your NMLS exam. Great! But now you need to make a choice. Would you prefer to take the exam at an in-person testing center or online? Regardless of your preferred modality for taking the exam, the registration process is practically the same. Either way, you must go to either the NMLS’ website at: https://mortgage.nationwidelicensingsystem.org/profreq/testing/Pages/default.aspx or to Prometric’s at www.prometric.com/nmls (they both ultimately produce the same results). Once on the NMLS’ website, the next step is to create or log onto your NMLS account. Before you can schedule your exam, you will [...]

The Six NMLS Exam Federal Mortgage Related Laws Component Study Strategies!

There’s no way around it! If you want to pass the NMLS exam, you must possess a solid grasp of the federal laws on which you should expect to be tested. Even though the NMLS exam’s Federal Mortgage Related Laws component accounts for only 24% of the overall NMLS exam, if the test candidate is not proficient in this area, even if he or she is solidly proficient in the other four test component areas, he or she will fail the NMLS exam. Proficiency in the Federal Mortgage Related Laws component is mandatory for NMLS exam success.   There are [...]

Success Through the Temporary Buydown!

Mortgage interest rates are on the upswing; there’s no contesting that. Higher rates automatically associate with higher payments and higher payments result in fewer qualified borrowers. The seller’s market, which the real estate world has experienced for so long, is rapidly coming to a close. A seller’s market evolves when there are more buyers seeking to buy homes than homes that are available for sale. When sellers receive multiple offers, they maintain the leverage and can pick and choose the ideal offer to accept. Buyers scramble to outbid each other and homes ultimately sell for way beyond their initial asking [...]

How To … Effectively Explain the Difference Between the Note Rate and the APR!

One of the loan originator’s most frequent challenges is adequately explaining the difference between the mortgage loan’s actual interest rate and the Annual Percentage Rate (APR). Upon discovering the APR on the Loan Estimate (LE), the customer may suspect that the loan originator locked in their loan at an interest rate that’s higher than the one upon which they agreed. To manifest happy and trusting customers, it is imperative to anticipate and adequately address this issue prior to the consumer receiving the LE. Simply assuring your customer that the APR is not the rate at which their payment will be [...]

How To … Calculate LTV, CLTV, and TLTV!

When you think about it, the logic is pretty simple! The more “skin in the game,” the less likely that a borrower will default on their loan. In this case, “skin” refers to equity. And this makes perfect sense. The more equity that a borrower has in his or her property, the less likely is the chance that he or she would be willing to lose that equity through foreclosure. As such, the higher the borrower’s equity stake, the more likely he or she would do whatever is necessary to avoid defaulting on his or her mortgage. This all correlates [...]

Our Best Selling
Training Aides

  • BUY ALL OF THE VIDEOS AT ONCE AND SAVE!*

    BUY ALL OF THE VIDEOS AT ONCE AND SAVE!*

    $210.00

  • Think You Know ARMs? – For The NMLS Exam You’ll Have To!

    Think You Know ARMs? – For The NMLS Exam You’ll Have To!

    $15.00

  • Maximize Your Success … The NMLS Exam Prep Webinar! (Recording)

    Maximize Your Success … The NMLS Exam Prep Webinar! (Recording)

    $99.00

  • NMLS Exam Prep Tutoring

    NMLS Exam Prep Tutoring

    $85.00$1,200.00

  • NMLS Test Content Flashcards

    NMLS Test Content Flashcards

    $27.99

    20% Off

  • The Truth-in-Lending Act – What You Need To Know!

    The Truth-in-Lending Act – What You Need To Know!

    $15.00

Recent News & Events

The All-Important Credit Score When Underwriting a Mortgage Loan Application!

The quality of an individual’s credit serves as a window into their creditworthiness. Individuals who are consistently or, even occasionally, late paying their credit obligations (and, by late, I’m referring to failing to remit the payment during the month in which it is due), who utilize more than 30% of a credit line’s available credit, who default on credit obligations, utilize numerous credit accounts, and even have limited-to-no credit all present potential signs of possessing a problematic credit character. When a lender considers lending hundreds of thousands of dollars to an applicant seeking to finance a home, it is perfectly [...]

Important Things to Know About Scheduling Your NMLS Exam!

You’ve finally finished studying and you’re ready to schedule your NMLS exam. Great! But now you need to make a choice. Would you prefer to take the exam at an in-person testing center or online? Regardless of your preferred modality for taking the exam, the registration process is practically the same. Either way, you must go to either the NMLS’ website at: https://mortgage.nationwidelicensingsystem.org/profreq/testing/Pages/default.aspx or to Prometric’s at www.prometric.com/nmls (they both ultimately produce the same results). Once on the NMLS’ website, the next step is to create or log onto your NMLS account. Before you can schedule your exam, you will [...]

The Six NMLS Exam Federal Mortgage Related Laws Component Study Strategies!

There’s no way around it! If you want to pass the NMLS exam, you must possess a solid grasp of the federal laws on which you should expect to be tested. Even though the NMLS exam’s Federal Mortgage Related Laws component accounts for only 24% of the overall NMLS exam, if the test candidate is not proficient in this area, even if he or she is solidly proficient in the other four test component areas, he or she will fail the NMLS exam. Proficiency in the Federal Mortgage Related Laws component is mandatory for NMLS exam success.   There are [...]

Success Through the Temporary Buydown!

Mortgage interest rates are on the upswing; there’s no contesting that. Higher rates automatically associate with higher payments and higher payments result in fewer qualified borrowers. The seller’s market, which the real estate world has experienced for so long, is rapidly coming to a close. A seller’s market evolves when there are more buyers seeking to buy homes than homes that are available for sale. When sellers receive multiple offers, they maintain the leverage and can pick and choose the ideal offer to accept. Buyers scramble to outbid each other and homes ultimately sell for way beyond their initial asking [...]

How To … Effectively Explain the Difference Between the Note Rate and the APR!

One of the loan originator’s most frequent challenges is adequately explaining the difference between the mortgage loan’s actual interest rate and the Annual Percentage Rate (APR). Upon discovering the APR on the Loan Estimate (LE), the customer may suspect that the loan originator locked in their loan at an interest rate that’s higher than the one upon which they agreed. To manifest happy and trusting customers, it is imperative to anticipate and adequately address this issue prior to the consumer receiving the LE. Simply assuring your customer that the APR is not the rate at which their payment will be [...]

How To … Calculate LTV, CLTV, and TLTV!

When you think about it, the logic is pretty simple! The more “skin in the game,” the less likely that a borrower will default on their loan. In this case, “skin” refers to equity. And this makes perfect sense. The more equity that a borrower has in his or her property, the less likely is the chance that he or she would be willing to lose that equity through foreclosure. As such, the higher the borrower’s equity stake, the more likely he or she would do whatever is necessary to avoid defaulting on his or her mortgage. This all correlates [...]

Our Best Selling
Training Aides

  • BUY ALL OF THE VIDEOS AT ONCE AND SAVE!*

    BUY ALL OF THE VIDEOS AT ONCE AND SAVE!*

    $210.00

  • Think You Know ARMs? – For The NMLS Exam You’ll Have To!

    Think You Know ARMs? – For The NMLS Exam You’ll Have To!

    $15.00

  • Maximize Your Success … The NMLS Exam Prep Webinar! (Recording)

    Maximize Your Success … The NMLS Exam Prep Webinar! (Recording)

    $99.00

  • NMLS Exam Prep Tutoring

    NMLS Exam Prep Tutoring

    $85.00$1,200.00

  • NMLS Test Content Flashcards

    NMLS Test Content Flashcards

    $27.99

    20% Off

  • The Truth-in-Lending Act – What You Need To Know!

    The Truth-in-Lending Act – What You Need To Know!

    $15.00

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