Posts Tagged ‘ NMLS rules ’

New CMA Webinar Aids Brokers in Safely Navigating SB 978 Regulations

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California Mortgage Association presents: New DRE Investor Questionnaire,
 Revised LPDS, and other SB 978 Issues: A Webinar for Mortgage Brokers DATE: December 18, 2012 TIME: 10:00 a.m. to 11:30 a.m. DETAILS: This webinar will provide an overview of the new DRE Investor Questionnaire, LPDS, and other aspects of SB 978 which are effective as of January 1, 2013; including: Changes needed to your operations Completing the new Investor Questionnaire safe harbor investment disclosure form Changes to Article 5 & 6 Changes to the Lender/Purchaser Disclosure Statement (LPDS) Other SB 978 issues PRESENTERS: Mitch Feinstein, Law Offices of N. Mitchell Feinstein & Glenn Goldan, President, ReProp Financial FEE: *THIS...

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Contents of CD that Will Be Distributed At Our Upcoming Workshop

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I. Code Citations a. Business and Professions Code Citations – 10166.01 – 10166.17 (Implementation of the SAFE Act under the Real Estate Law) b. Civil Code Citations – 1090.5 (Requirements for Hiring/Using/Terminating Real Estate Appraisers) c. Financial Code Citations – 4970 et seq. and 4995 et seq. (California Requirements for “High Cost” and “Higher Cost” or “Higher Priced” Residential Mortgage Loans) II. “Dodd-Frank” Act a. HR 2509 (Federal Legislation Sponsored by NAMP/CAMP to Amend Dodd-Frank Regarding LO Compensation) b. Summary, prepared by S. Guy Puccio and Herman Thordsen, Esquire (A Summary of Significant Issues of This Act that Affect Residential Mortgage Loans and Mortgage Brokers) III. Federal...

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Next Make More Money Now Workshop plus Q & A: October 22

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Make More Money Now – Extended Workshop Featuring 3 Wise Men Q&A San Francisco/Oakland Bay Area October 22, 2011 In today’s difficult legislative and economic environment, wouldn’t you like to acquire new and creative ways to do business that will increase your bottom line? How about a personalized Q&A session with three of the most experienced and knowledgeable veterans of the mortgage lending industry whose goal is to help you not only understand and comply with new laws but also increase your income as a result of this understanding? Our next Make More Money Now workshop offers two information-packed sessions full of tools and advice to help...

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Q & A: New NMLS Registration Rules

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Q: I am a broker and I just received my NMLS. Do I have to accrue the education credits before the end of 2011? A: Yes. It is our understanding that you will need eight (8) units to apply for the renewal of your NMLS registration effective January 1, 2012. The prerequisites required to obtain the initial NMLS registration expire at the end of the first year. Q: On the report for NMLS, do non-NMLS loans count? A: Yes. The annual report that is required to be filed with the DRE covers everything the mortgage broker does. The report may be consolidated with the threshold report required pursuant...

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