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Boowho: (April 16, 2010 1:02pm)

Just because the bullet is in the chamber do you have to pull the trigger? Would you have advised a family member, friend or neighbor to take one of those types of loans? Would you yourself take one of those loans? If a loan officer is more educated about ethics, has a thorough understanding of the product and is capable of transfering that information to the consumer effectively they probably would not have to worry about selling a product like that. It would appeal to a smaller percentage of people, be very expensive and most likely go away because the volume would not be sufficient for the providers to validate the risk. A product is only going to remain available if someone wants it. If enough people understood what they were selling and the effect it may have, those types of loans would have gone away or would not have been sold at as great a volume. When you take somone that has worked in a profession never making 6 figures before and don't educate him this is what happens.

nhloanofficer: (April 16, 2010 12:13pm)

let me ask you this...had there been no stated 80/20 or pay-option ARM...how would the evil evil loan officers originated the product? secondly, I'm not stating there should no regulation, I'm stating the testing sucks and has NOTHING to do with origination. It's useless knowledge that has no bearing on origination. If I wanted useless busy work, I would have worked for the govt. the nmls testing was designed by people who do not even understand how a loan is truly originated. check out the SEC charges released today...this might give you some insight on to what has been going on behind the scenes with hedge fund guys, cds, mbs, china and the real mess. a few hundred bad loan officers had nothing, zero, to do with this mortgage crisis.

Boowho: (April 16, 2010 11:46am)

@NHloanofficer: I am not missing your point it just seems that you prefer to place the blame on banks or other pieces of the mortgage mess rather than loan officers. Again, loan officers are not the sole reason for the mess. And, I am not trying to knock the professions that others may be best suited for. The test is a step in the right direction, and I feel there should be additional ones as well. By creating barriers that people must overcome it eliminates the weaker candidates. It will not be a fix all, as there will continue to be people that may get past them and unfortunately make bad decisions. For example, why isn't everyone a Doctor, Engineer or Attorney. These professions require education, continuing education, and detailed exams. Are there members of those professions that make bad decisions of course! However, I would argue that the percentage is far smaller than those professions that do not have any barriers and anyone is allowed through the door.

NHloanofficer: (April 16, 2010 6:15am)

@Boowho: You're not getting my point. The test has nothing to with making better loan officers or weeding out the ones that didn't come from an industry that lives up to your standards (sorry, I'm not a snob and I don't judge people by their career). The test is meant to trick people and it's NOT going to fix/help or otherwise "fix" this industry. It's about the media, it's about saying, "Look at what we did! We made all those BAD EVIL loan officers take a test!". When fraud and bad mortgages are STILL written...maybe they'll figure out mortgages are originated FAR before they get to a loan officer. I learned nothing on that test other than some useless knowledge regarding dates of when certain regulations began or their corresponding law, (i.e Reg X is RESPA, WOW! Now NO bad mortgage will EVER be written). The test is useless busy work and it's about the DOB's trying to do some CYA. It's a complete and utter joke...which is why banks are making TRILLIONS while the US suffers.

know: (April 15, 2010 9:09pm)

The biggest discount real estate concept and the creepest bunch of cut thoat real estate agents in the world. It happens to be a aximoron-because guess what most of them are just that morons....

marco: (April 15, 2010 2:39pm)

Interesting site.

Boowho: (April 15, 2010 2:19pm)

nhloanofficer: You are helping to support my point, originators that have the capacity to see a bigger picture when taking an application rather than focusing solely on their commission help the industry. In order to obtain that awareness they need to be better educated as you mentioned and tested with a challenging exam to confirm their proficiency . A stronger exam would further eliminate unsuitable candidates, therefore a lower passing percentage. How many former bartenders and used car salesman trying to remain in the indusry are complaining about how difficult the current test is when they have failed it twice and are worried about not passing the third attempt. If the originator is a stronger link in the process, it will only help as the loan continues through the system. A well educated proficient loan officer instills trust in their support staff and underwriters and most importantly their customers. "Well, the world needs ditch diggers too" - Judge Smails Caddyshack

nhloanofficer: (April 15, 2010 1:34pm)

boowho: loan officers are as much to blame for the housing crisis as liquor store owners are responsible for alcoholism. and pass ratio has nothing to do with weeding out the weak or stupid. it weeds out those who dont memorize useless data. if the test focused on ethics, morals, how to structure loans, fees, etc. again, do some research...this housing crisis was carefully orchestrated...READ and learn about the stuff i mentioned earlier. it will teach you some useful information. good luck!

Boowho: (April 15, 2010 1:17pm)

nhloanofficer, You seem to get scared pretty easily, please read the prior statement "contributed" was mentioned, not solely to blame...I am not naive enough to place the blame solely on one entity of very complex problem. What is alarming is that people who are better suited for jobs that require less decision making and much less potential to affect the lives of so many are still able to remain in this in this industry.

nhloanofficer: (April 15, 2010 12:37pm)

@boowho: your knowledge of the industry scares me if you believe loan officers caused this mess. do some research on mbs, china, hedge funds and learn about wall street. it terrifies me that you passed the test and have no clue about the mortgage market. lol...THAT should weed you out.

Boowho: (April 15, 2010 12:22pm)

30% pass rate is still too high, it should be more difficult. Barriers eliminate the weaker candidates. The people that cannot pass the test should return to their previous positions before they contributed to the mortgage industry mess.

Bruger Duger: (April 15, 2010 8:41am)

I did a streamline (SL) for a client way back when, away from Taylor Bean (TBW) before the got into trouble. However, just after we did that SL, TBW went out of business and my client has not been able to get their escrows back. Do you have any suggestions that I can forward on to my clients to help them get their escrows back?

Anonymous: (April 14, 2010 11:10pm)

I love your daily shows. My family has been in real estate and banking/loans for over 60 years. I was raised on it. I was informed that since I passed my state test, and have kept up my licensing without letting it lapse, I am good through 11/2010. I have worked for correspondents, Banks, and Brokers. I am currently still with a strictly broker only shop. I am doing well, but am ready to leave the industry and the ulcers I get from some of the files. I hope the industry does clean itself up. However, I am witnessing many GOOD people retiring or simply exiting the business.

ElaineB: (April 14, 2010 9:58pm)

That's not why Flagstar is offering 95% ltv. If you read the Servicing and Pooling Agreements that the lenders made with the Pool Trust, it states that if they buy back a loan, they have to replace it with a similar loan (same amount, same interest). So how are they going to come up with a similar loan? Get more toxic loans by offering 95% LTV again! With all the foreclosures going on, Flagstar must have more foreclosed homes than they have loans to replace the foreclosed loans. Ponzi Game still going on..........

clulessdad: (April 14, 2010 8:50pm)

5pence-where do you live?

5pence: (April 14, 2010 8:48pm)

The banks are so big it's impossible to find out who caused the problem in the company. They need to be broken up into manageable and traceable pieces in case problems break out. It took crime to get them as big as they are and they are growing daily. It will take more crimes to keep them as big and bigger than they are. Apparently being able to control the stock market and move it at will is not enough for them. JPM is shorting all precious metals keeping their prices down - fact. Does breaking them up into traceable and manageable pieces sound heartless? Tit for tat imo

5pence: (April 14, 2010 8:13pm)

I think the Dems are afraid of losing the elections so they think "now" is the time to listen to the people - rather than all the time like they're supposed to. I'm not going to complain about having a chance to complain where it might matter. And if enough do..... who knows. One way or another the next election will start changing things

5pence: (April 14, 2010 7:27pm)

They want to hear how screwed up it is they're going to get an earful everywhere they go is my guess. It's totally fkd. HVCC, banksters getting away with no charges for what they did and they are the ones put in control of fixing things! Insane! Bank oligopy, cartel monopoly, ripping off the consumer and much much more. LOL clulessdad, might as well have avm's do them then. Friggin clueless amc's are in control and managing professionals right out of high school and all the way from India. Brokers and realtors have to stake their local reputations on an unknown quanity like the amc picking the appraiser by cheapest and fastest. It's endless what going on wrong lol

5pence: (April 14, 2010 7:17pm)

Here's the link to the story. http://www.mortgagenewsdaily.com/04142010_obama_asks_industry_for_input.asp ..Thanks for the words of support clulessdad but as long as the inexperienced are elevated above the able and experienced, appraisers are screwed. BTW, What I just posted is freakin great news!!!

clulessdad: (April 14, 2010 7:17pm)

5pence-sounds like more socialist reform. Let's also value a house based on cost. lol

5pence: (April 14, 2010 7:10pm)

Continued: 4. How should the current organization of the housing finance system be improved? 5. How should the housing finance system support sound market practices? 6. What is the best way for the housing finance system to help ensure consumers are protected from unfair, abusive or deceptive practices? 7. Do housing finance systems in other countries offer insights that can help inform US reform choices? The Obama Administration will seek input in two ways. First, the public will have the opportunity to submit written responses to the questions published in the Federal Register online at www.regulations.gov. Second, the Administration intends to hold a series of public forums across the country on housing finance reform. Together these opportunities for input will give the public the chance to deepen the federal government's understanding of the issues and to shape the policy response going forward. I THINK WE ALL ALL ALL HAVE INPUT FOR THIS ONE EHH? THEY SAID THEY'RE LISTENING

clulessdad: (April 14, 2010 7:06pm)

5pence-All what you say I agree. Life is garbage right now and all the stuff that is happening is illegal, immoral, or unethical. Both brokers and appraisers are eating the short end of the stick. But in saying that, the herd is really getting thinned out and when it all settles, only the elite will be left standing. I have a good feeling about the longterm, albeit the short term sux. I encourage everyone out there to hang in there, and do whatever it takes to make things work. We will eventually be rewarded. I believe that.

5pence: (April 14, 2010 7:06pm)

Well well well : News - Obama Reaches Out for Input on Reform of Housing Finance System. WASHINGTON - The Obama Administration today released questions for public comment on the future of the housing finance system, including Fannie Mae and Freddie Mac, and the overall role of the federal government in housing policy. The questions have been designed to generate input from a wide variety of constituents, including market participants, industry groups, academic experts, and consumer and community organizations. **Questions for Public Solicitation of Input: 1. How should federal housing finance objectives be prioritized in the context of the broader objectives of housing policy? 2. What role should the federal government play in supporting a stable, well-functioning housing finance system and what risks, if any, should the federal government bear in meeting its housing finance objectives? 3. Should the government approach differ across different segments of the market, and if so, how?

clulessdad: (April 14, 2010 7:00pm)

NHloanofficer-Son, you are funny. I would be more than happy to show you my GPA's in either my BS Chemistry or my MBA vs your grade school transcripts. You are annoying me with your whining about how the test is unfair, etc etc etc. You know what? Life isn't fair, so get used to it. You want to be an LO? Learn the rules and laws and give my chosen profession a good reputation. Otherwise flip some burgers or see if you can memorize "Welcome to WalMart!" Maybe you can commit that to memory because loan originating sure isn't your strong point. You just don't get it. Sorry to everyone else on this blog for the rant. But we need to get the unfit out of our industry.

Anonymous: (April 14, 2010 6:59pm)

Wells Fargo is doing 95% in CA as well

nhloanofficer: (April 14, 2010 5:57pm)

I sense a great deal of lying on this forum...as usual. Everyone on the Internet is a genius, rich, a model and has a perfect marriage/relationship. LOL! 70% fail the NMLS...but no no, not here! On this forum it's a 100% pass rate! LOL!!!! So classic Internet behavior.

r: (April 14, 2010 5:52pm)

5pence - i am with you what is happening is a big hot mess. I am a Mtg. Broker and we are all but out of business, i tried to find Mtg. Brokers to go work for and there aren't any (i intv. with 2) but with everyone turing to "direct lenders" or banks that seems that will be all that's left WHAT A SHAME. ALABAMACTYBOY AND PUGSY, THX FOR THE INFO. I contacted HUD and the DRE and apparently myself, my broker, my coworkers and a whole bunch of other people i know that do FHA loans and real estate are not doing it right.

5pence: (April 14, 2010 4:59pm)

Sorry if that sounded angry or venomous, I just hate to see how this profession is deteriorating daily! and no one will do anything about it. It's so obvious this crap is illegal but no one cares.

5pence: (April 14, 2010 4:54pm)

valuequestor - you mean I only have to work 50 times as hard for the same money??! Let me at those $25 desktops so I can completely discredit this profession and help the amc's plunge it down the drain. This is larceny to the homeowner and the profession and only lines the pockets of the inept amc's. The only thing they're good at is taking. And I thought the Wells' Fargo desktop where if you hit value you can get the full order was illegal at $45. Licensing killed this profession. Like the banks loaning money to anyone breathing, this has let any derelict that needs beer money to appraise. Do you know how many a-holes out there would sign off on a trainees hours for $1,000? A lot - just take a look around at the dimwits grabbing up anything the bankster/amc's dole out. It's digusting. Licensing just turned loose the crooks and we have to pay license fees for that??!! What a crock

Ryan: (April 14, 2010 4:21pm)

I was excited about the testing and licensing to take place to get some of the absolute morons out of our business. Once again, I WAS excited, until I started speaking to people that had failed both the state test, I'm in AZ, and the SAFE Act test and instead of taking the test again or getting out of the business, they were all heading to work for a bank. There seems to be quite a few net branches popping up around town and absorbing entire broker shops that do not need the LO's to be licensed. You gotta love it, the same people that should be leaving the business just find a loophole and continue to do business as usual.

V: (April 14, 2010 4:06pm)

Try...."Not no way, not no how". Incredible comic timing I have.

V: (April 14, 2010 3:55pm)

Sometimes I call these companies and ask to talk to the wizard...the usual response is "Not no way, not now how!" And yes I read your earlier post. I don't always post everyday but I am very regular about reading all of it........even the crap.....present company not included in the crap of course.

Joecolorado: (April 14, 2010 3:54pm)

Boy did I messs THAt up, I meant the AI and not the AUI and I meant to write the appraier fees and not Realtor fees...its been a long day, bye everyone,I have to work out and take off some of this aggression.

Joecolorado: (April 14, 2010 3:53pm)

Now I see the AUI, ASA and assorted associations have written to teh mucky mucks complaining about the perception of increased realtor fees in the HUD and now request that the appraiser fees be separated out with the amc fees being disclosed as a cost of business....I wonder how they are going to get the horse back in the barn, now that they have already allowed the door to be closed?

mtgman1: (April 14, 2010 3:52pm)

I took the nmls test today, got 88%, i did not think it was that bad...maybe the guys not passing should be selling shakes at java juice..

Joecolorado: (April 14, 2010 3:46pm)

somtimes I wonder if there is a wizard of Oz character behind a curtain writing the latest dribble,sending it out to see what the reaction will be?and saying to their flying monkeys"Lets see if they will accept THIS as a possibility" hehehehe

Eugeneloanguy: (April 14, 2010 3:45pm)

All of the LOs in our office that have taken the test so far have passed. I got a 91 and was pleased until I was beat by a 93. Worst score we have (out of 7) is an 88. Test is tough, but not a killer.

Joecolorado: (April 14, 2010 3:43pm)

valuequestor-Thanks for the tip-I will get right on that,and I will make sure that I will get even more work by offering them a healthy discount for bulk orders......riiiigghht.BTW, did you read earlier entries regarding part of the email I received from Nations Valuation Services re: Preferred Supplier?What a crock.

valuequestor: (April 14, 2010 3:35pm)

Joe, have you been contacted by Axios (the old appraisal section of Emortgage Logic I think) to get on board with their new Desktop Valuation product. Its a variation of the old 1065 Form. They need experienced appraisers Joe and they are going to pay us $25. No I didn't forget the zero. Oh and please don't forget to upload a copy of your E&O Dec Page with each report. Act quickly, there are a limited number of spots open nationwide! .........I taste bile.

Joecolorado: (April 14, 2010 3:16pm)

V-Its no big deal really,I dont think that those possible employers I suggested use just one appraiser and I am not threatened by competition in fact I love it.I also thought that the last thing we need right now is the loss of another appraiser,so any help I can give to someone else to keep in the business is always well worth it as s/he will pass it on.The work is out there,all we have to do is to find where it is,now the hard part is getting that work and keeping it flowing. Hopefully everyone worth their salt will survive.

Chris Sorensen: (April 14, 2010 2:57pm)

I had a meeting with the IRS and HUD and we all agreed that in the event of a short sale, you give up your Mortgage Debt Relief Act protection that was extended through the American Recovery and Reinvestment Act of 2008. Insolvency IRC 108 a 1 b.

nhloanofficer: (April 14, 2010 2:40pm)

at clulessdad: wow, someone is insecure! lol. or naive or both. so, mr insecure, would you like to compare tax returns or college gpa's? hahah. God, thank the Lord I am not insecure like you.

V is for Valuequestor: (April 14, 2010 2:38pm)

Frank and Brian: What did you guys think of the REAA meeting you spoke at in the Big Sac yesterday? Was it a good group of appraisers? This is a good example of a Grass Roots Appraiser Organization at the state level. Do you guys agree? Are they worth joining?

v: (April 14, 2010 2:32pm)

JoeColorado: Whats going on Dude! You just drew a map to Treasure Island and "X" marks the spot. You just tossed the keys to the Candy Store up in the air over a crowd of "I don't know what to do's". You sir are a good man. I even got new tip! Owe you one my friend.

funny: (April 14, 2010 1:57pm)

Welcome to California!! "Whats your Dream??" ohhh, I mean want some blue dream?? Ohhh, want an appraisal tooo??? Ohh, what a treat!!

Me: (April 14, 2010 1:36pm)

Cool

clulessdad: (April 14, 2010 1:35pm)

nhloan officer-It is funny that you mentioned that you failed the test because of 1 question. Oh Please! You failed because you didn't know 75% of the questions. If you don't understand all the consumer rights and can't understand that the answers are geared to provide the maximum amount of consumer protection, maybe you shouldn't be a fiduciary.

GODLIKE: (April 14, 2010 1:20pm)

RnchoMtgChck to originate FHA loans you have to surrender your real estate license, any security license and your insurance license too I believe. My wife surrendered her real estate license but I kept mine. That means all FHA loans must go thru her.

Pugsy77: (April 14, 2010 1:18pm)

5pence: Yes i agree. they are glossing over the key fraud issues such as eappraiseit. Barney and Dodd must protect Cuomo. Same ol sh**. Just like they glossed over Ken Lewis. The whole thing is a big charade. Micah you are the bomb! Thank you for that info. I will share with many realtors. I thought that the addl 10k FTB credit came into play when only buying up new housing inventory? Looks like any ol resale will qualify eh?

Get $18,000 To Buy A Home In California: (April 14, 2010 1:08pm)

Hey guys, I just confirmed via phone with the state of CA franchise tax board, a person qualifying for the $8,000 federal tax credit can ALSO qualify for the new $10,000 state tax credit that goes into effect May 1st as long as they close escrow after May 1st and before Federal deadline at end of June. So someone can 'double dip' the tax credits if they are under contract by the end of the month! Here's a link to the new credit details: http://www.ftb.ca.gov/individuals/New_Home_Credit.shtml Micah Peterson

5pence: (April 14, 2010 1:05pm)

Pugsy : I watched about 90% of that WAMU scripted interrogation. Not one mention of the WAMU and eappraiseit fraud in NY that got us the HVCC. I mean, wtf - you want to talk about fraud why not bring that up? It's almost like Chase paid them off to not mention it/or said we won't testify if you bring that up. Everyone is side stepping that issue when it's as important, or more so, than any other! I mean, what is going on that no one will talk about this HVCC. Are they afraid of ruining democrat Cuomo's run at Gov? HVCC should be a hot topic ! I mean, you're interrogating WAMU and Chase officials - so why not??!! Aggravating

Alabama Country Boy: (April 14, 2010 12:57pm)

RnchoMtgChck, interpretation and attention to details for compliance are the keys. Separate entrances, no common access, you cannot be "active" in both businesses, etc. so pick one. I know several companies that occupy side by side business locations and the appraiser is the husband, the realtor/broker is the wife, and the mortgage broker is the son/daughter. If you are really enterprising and have enough family you can build your own strip mall office building and even have another one selling life and homeowner's insurance. Oh, I forgot, you need a title company/attorney office as well. Keep the books clean. Keep them separate. Make money. Good Luck!

Left Coast Loan Officer: (April 14, 2010 12:54pm)

@nhloan officer I saw very little on the test that should trouble anyone. My experience on the test was mirrored by virtually every LO in my office. It's sad that you would consider knowing your legal and regulatory responsibilities "USELESS" knowledge. What I find even more amusing than the hand wringing and whining about the test is the flight of the incompetent to the retail banks to avoid the test. I personally know 3 local loan officers that could not pass the test, so they ended up at Wells Fargo.

Anonymous: (April 14, 2010 12:52pm)

@nhloan officer I saw very little on the test that should trouble anyone. My experience on the test was mirrored by virtually every LO in my office. It's sad that you would consider knowing your legal and regulatory responsibilities "USELESS" knowledge. What I find even more amusing than the hand wringing and whining about the test is the flight of the incompetent to the retail banks to avoid the test. I personally know 3 local loan officers that could not pass the test, so they ended up at Wells Fargo.

Pugsy77: (April 14, 2010 12:38pm)

Final Entry then off to finish taxes...right. Frank and the other guy: Care to comment on the testimony of WAMU's Kerry Kellinger yesterday? AP story says " TOP WAMU loan officers who made high-risk loans were eligible for the President's Club, with trips to swank resorts...In some cases, sales associates in WAMU offices fabricated loan documents, cutting and pasting false names on borrowers' bank statements. The company's own probe found the two top producing offices alone, Downey and Montebello, had levels of fraud exceeding 58% and 83% respectively of their loans." Wonder which office had the least amount of fraud. They deserve a Pres Club award at Club FED! Epilogue: Many of these agents are still working, having hopped from WAMU to Countrywide to Bank of America. The FDIC cannot hire enough goons to prosecute these scum-o-the-earth loan officers!

nhloan officer: (April 14, 2010 12:34pm)

@leftcoast loan officer, first off, there's several hundred variations of the test. Secondly, there is a 70% failure rate so you may have just got lucky on the test. The test is not based on common sense, math abilities, problem solving or deductive reasoning...its based on memorization skills and its meant to trick people who did not study the book of USELESS knowledge. When the division of banks is making fun of the test...you know there's an issue. You studied the right chapters...congrats!

Alabama Country Boy: (April 14, 2010 12:31pm)

Ambiguous perhaps it is; but none the less it is accurate. Choose "the most correct" answer if more than one is correct. I hate these questions too. *It is like,"How old does my bankruptcy have to be before I don't have to tell you about it?" *Someone wanted to complain about my Senator last week. Would you rather be represented by Ms. Pelosi? Two no votes cannot kill a bill.

Pugsy77: (April 14, 2010 12:24pm)

Oh, and RanchoMtgChick: You ARE a BAD Girl!

Left Coast Loan Officer: (April 14, 2010 12:21pm)

I really want to know how anyone can fail to pass the Federal test. I took it a week ago and completed the test in 23 minutes and scored 92%. I maybe had 8 hours of actual study time into it! What scares me is that I am not overly smart. I am not NASA material, just a regular guy. If I would have failed this test I would have considered myself a LOSER of epic proportions.

Pugsy77: (April 14, 2010 12:20pm)

hey Frank and other guy: thank you, good show mates. hope things are perking up in Solongo county fer ya. the way i read the NMLS i must complete 8 hrs of continuing education in 2011. i am not an fha or va approved broker nor do i do FHA or VA in my area. if i were in yer nek-o-da-woods i would be chattin with Airmen and Airwomen all day...But who really has to take this safe-act test anyway? Rancho Mtg chick and Cluelessdad: it is conflict of interest to engage in real estate transactions if you are licensed FHA broker designee or salesperson. No can do in California...not sure about other states.

Left Coast Loan Officer: (April 14, 2010 12:20pm)

I really want to know how anyone can fail to pass the Federal test. I took it a week ago and completed the test in 23 minutes and scored 92%. I maybe had 8 hours of actual study time into it! What scares me is that I am not overly smart. I am not NASA material, just a regular guy. If I would have failed this test I would have considered myself a LOSER of epic proportions.

Pugsy77: (April 14, 2010 12:08pm)

So if you own your own marijuana "clinic" and maybe do a little business on the side your loan is APPROVED. Welcome to California, where all the loan modification billboards have been replaced by medical marijuana and gambling ones (is gambling more secure than buying a short-sale which is about to be foreclosed?) Let's have a fun TEA-PARTEE protest tomorrow...and death to Bank of America...

clulessdad: (April 14, 2010 12:03pm)

RnchoMtg-I think I know the answer, but you are better off calling HUD and the DRE to help you setup what you are trying to do. There needs to be some separation of the lending side from the RE side, but they can tell you exactly how to set it up.

RnchoMtgChck: (April 14, 2010 11:47am)

Am I a Bad Girl??? Broker/Owners out there please help. I am a Lic. CA RE Broker with several Realtor designations. I constantly educate myself on Real Estate since it directly impacts my loan business and to be a Loan Broker you have to have a real estate lic. I primarily do loans. However I transact my personal purchases and act as an agent for friends and family. I never do the loan and the real estate together, that I know I can’t do. I have been excited about the Lic. Req. for LO's thinking it's going to weed out a lot of people. So confident in fact I opened my own real estate office and will hire realtors to work under my brokers Lic. I also want to work as a loan broker or banker and do all FHA - the companies I am interviewing with say I CANNOT HAVE ANY DEALING IN REAL ESTATE EVEN THOUGH I AM A BROKER?? I am crushed, I was planning on covering the office with my R/E endeavors, many of the Realtors I work with I already do their loans. I can't find the answer clearly written anywhere and half of the companies say I can have a real estate company and half so NO WAY. I don’t want to do anything to lose my Lic.

Deedie: (April 14, 2010 11:35am)

I I want to know why you have allowed this crisis to continue? Why is the atty. general from NY allowed to inflict his/our pain without your watch "interference". Is anybody investigating him for his ownership in the AMC's and his failure to follow his lawsuit that he started against the AMC's "eappraiseit & Washington Mutial" Why are these people of the United States of America subject to these "TOO BIG TO FAIL BANKS"? but the USA is allowed to fail? Where do you come in? I want to file a complaint against you, the FLA AG, Alex Sink, Mr. Crist and the whole lot of you for failure to protect the citizens of our state of Florida & USA. I intend to forward my message. If the DPBR does not receive our renewal fees for RE License And Appraisal License I suppose you are going to make the kids pay to fish on the beach, oops, I forgot you already did! Mary Jo "Deedie"Few CC:everyone who cares just sent this message to my FL Ag:

e-homeappraiser: (April 14, 2010 11:21am)

Responding to JoeColorado's post. After 33 years in appraising, I don't qualify as preferred supplier either. Abolish "Affirmative Action" NOW!!!!!!!!!!!

Ellee: (April 14, 2010 11:01am)

@NHloanofficer - I guess that being said, it's good to keep in mind that there's a strong chance that with so many companies offering the tests and that because of that, there are going to be few tests that are identical. Perhaps I lucked out.

NHloanofficer: (April 14, 2010 10:54am)

@Ellee: Yes there are several questions on regulations and names of laws. I, unfortunately, had to take it TWICE because I didn't know what year Reg-X was implemented. Even in our training class, the teachers all mentioned the majority of the national exam is about names and dates of laws/regs.

[email protected]: (April 14, 2010 10:51am)

Stearn also offers a 95% One loan in CA as long as credit is 740 and property is not a condo.

Ellee: (April 14, 2010 10:46am)

I would have to respectfully disagree with NHloanofficer. There aren't questions asking about which regulation applies to which law or rule on the test. I know - I just took the darn thing. There ARE a lot of questions on RESPA, ethics, the different nuances of FHA, Conventional and VA loans. These are things that a 20 year veteran loan officer SHOULDN'T fail and SHOULD know if indeed, he/she's been writing loans for 20 years. 20 years is a long time....

djcaple: (April 14, 2010 10:36am)

Discount Real Estate Company that is still in business: Twist Real Estate, Kirkland, WA, full service - lists home for 1%.

NHloanofficer: (April 14, 2010 10:36am)

NMLS tests are based on MEMORIZATION ability...not knowledge, skill, ethics or morals. It's about memorizing the chapters on which regulation applies to what law/rule. As I've said before...a 20 year veteran loan officer would easily fail if they didn't study. But a newbie who has never written a loan BUT studied 2 - 3 chapters could pass. It's an utter and complete joke.

Fritz Boy: (April 14, 2010 10:31am)

Isn't there an Appraiser March on Washington today? Haven't heard a thing about it today.

Help-U-Sell SP: (April 14, 2010 10:29am)

Help-U-Sell is not a discount broker but a full service broker that charges a set fee instead of a commission. If you were to at least check into this before you opened you big mount you would know that. The average commission rate nation wide is well below the 5% range now compared to the 6% charged several years ago. We are only offering what the consumer wants. A fare price for a full service transaction. I can guarantee you that I offer more service for a set fee then 99% of the agents that charge a % commission.

uptight : (April 14, 2010 9:50am)

I love watching TBWS everyday. I think Frank and Brian are getting funnier every day!

clulessdad: (April 14, 2010 9:14am)

Anyone with questions on what each individual needs to do to get SAFE Act licensed, call the NMLS directly. They will take you thru the process step by step. They are very patient and have helped me thru licensing for 3 states. And IMHO don't go into the tests thinking you know everything because "I have been doing this for 15 years." Take the courses and take the practice tests. You may just learn something you didn't know. Going forward, we as an industry have to show the public that we are MUCH better than the bank LO's. Our broker reputation is at stake here, and anyone who just wants to get by and not be a professional should get out of the business. The broker reputation begins with the SAFE test and I for one am really tired of borrowers discarding me because I am a broker. Remember that your test scores are posted on the site. I don't think you want to show FAIL. Not good if someone is looking up your resume which just happened to me last night.

Joecolorado: (April 14, 2010 9:05am)

that may be the case,but it doesnt help in this economy to find out that now I do not fit the correct or more advantageous profile.such a shame, what is coming next?

Joecolorado: (April 14, 2010 9:02am)

I dont know!It baffles me as to why any profiling occurs,I was brought up to listen to what a person was saying instead of how they were saying it.color race,sexual orientation or creed didnt come into it and thats how my appraisals are completed.Now it looks as though the playing field has been altered as certain types of people get preference on getting appraisal requests due to the very thing that appraisers avoid.

Rob in AZ: (April 14, 2010 9:01am)

Joe & MIMortgagedude: All Government Contracts, at every level, have that type of clause. I would wager that Nations is trying to get a Government Contract--OR--possibly just trying to make itself "bulletproof" in case AMCs start being picked off by Regulators.

MIMortgageDude: (April 14, 2010 8:57am)

Joe,how can they possibly get away with that.

Anonymous: (April 14, 2010 8:52am)

The next wave of foreclosures is about to hit. Check out this link. http://www.nctimes.com/business/article_fa8b8a2a-0fc6-526a-b125-d86bec3d79c4.html

Joecolorado: (April 14, 2010 8:50am)

Nations Valuation Services has just sent me an email with the following preferences for supplier diversity"A certified diverse supplier is defined as a for-profit business enterprise which is at least 51% owned, operated, and controlled by United States citizens who belong to the following groups:Women,African American,Hispanic American,Asian American,Native American,Disabled American,Gay, Lesbian, Bisexual or Transgender American"I am a Citizen but otherwise none of the above,so now I am being steered out of the process because I dont fit the preferred profile.....GREAT...thats JUST what I wanted to hear at this point in time...

Light: (April 14, 2010 8:49am)

The owner occupied loans are in KY, MD, IL. I have a meeting now. Appreciate if you can post your email. Thank you

Diego"Da Broker"Robinson: (April 14, 2010 8:48am)

Having a great day today. Hearing the positive information you guys consistantly put out helps keep me pushing forward in this industry. Keep up the good coverage.

clulessdad: (April 14, 2010 8:48am)

NMLS test in CA-I just took CA test in CA- Easy if you study the worksheet on NMLS and an approved course.

Rob in AZ: (April 14, 2010 8:47am)

LO in L.A.: Under the National Guidelines your Broker would not have to be Licensed as an LO unless s/he talks to borrowers about payments, rates, etc. However since it is likely that person may have to have that conversation at some point in time, it may be a good idea to do so. (This is National, CA may have a different law.) Good luck!

Light: (April 14, 2010 8:44am)

FHA Loan officers. I am on live chat now, have 10 minutes before heading to a meeting.

L.O. in L.A.: (April 14, 2010 8:37am)

I am an only loan officer in a family owned real estate company. Does anybody know if my broker also has to take NMLS exam?

ALL CAPS: (April 14, 2010 8:31am)

BRAIN GUY, THOSE ARE REALLY GOOD QUESTIONS THAT I CAN NOT ANSWER BECAUSE WE ARE A FULL SERVICE OFFICE. YOU PROVOKED MY CURIOSITY THOUGH. I'M GOING TO ASK THOSE QUESTIONS OF MY MLS. JUDGING FROM WHAT I'VE SEEN IN THE LISTINGS, I'M AFRAID THAT THE ANSWER TO YOUR QUESTIONS WILL PROBABLY BE NO.

Pipette: (April 14, 2010 8:26am)

Light there calling you live LOL Typical LO can't read or type.

Pipette: (April 14, 2010 8:25am)

Light there calling you live LOL Typical LO can't read or type.

Pipette: (April 14, 2010 8:24am)

Light-Do a conventional 95

Anonymous: (April 14, 2010 8:22am)

LIVE: How's going brother. My company is licensed in 42 states. Please let me know if I can help you with your loans. My name is Mike Kruczkowski my cell phone# is 267 312 2788.

brain gray.: (April 14, 2010 8:21am)

Yes there still are discounters around, there is a guy in wisconsin here, that does a ton of them all over the state. My question is though, don't you have to look at a house prior to listing it? He doesn't you take pics, you take measurements and he puts it on the MLS.

drez: (April 14, 2010 8:20am)

just took the safe test....very basic in my opinion..took about 45 minutes

NMLS test on CA: (April 14, 2010 8:18am)

When can we take the NMLS test in California? I don't think we can yet..kind of sick of everyone saying you will not pass etc etc blah blah. Seriously folks stop with the yelling about the test. If people don't study or pass then to hell with them

FHA Girl: (April 14, 2010 8:17am)

Looking for an FHA Gal? Email me at [email protected] with your deals.

LoanSumLou: (April 14, 2010 8:17am)

Where are the properties located for the FHA?

AZ Mortgage Guy: (April 14, 2010 8:16am)

These are the questions that just seem too vague to be on the test. I got a 91% and feel I know my stuff, but what if the money comes from illegal activities such as prostitution, illegal gambling, or selling drugs? A lender cannot deny a loan in those cases? (Yes, anyone that reported their income is a moron, but are they still able to get a loan - before they are arrested by authorities)

Light: (April 14, 2010 8:01am)

If you are a licensed FHA Loan Officer, please post your email, phone and other contact info. We have about 3 loans to REFI - all owner occupied.

ALL CAPS: (April 14, 2010 8:00am)

HELP U SELL IS NOT AROUND NOW BECAUSE IT TAKES A PROFESSIONAL TO SELL A HOUSE THESE DAYS. NOT SOMEONE WHO JUST FILLS OUT FORMS. KINDA LIKE THE CRAPPY SERVICE YOU GET FROM THE BIG BANKS WHEN YOU TAKE A LOAN OUT WITH THEM. YOU CAN'T EVEN SPEAK TO A REAL LOAN OFFICER AND THE UNDERWRITERS ARE REALLY PROCESSORS. YOU GET WHAT YOU PAY FOR.

Low Bid Appraiser: (April 14, 2010 7:58am)

Everybody loves a contest. A useful one would be to get the worst parasites (AMC's) some publicity. All use just the low bidders. The lenders and borrowers should know it's a low bid appraisal they are using. Let's put the names out there. Let's put out names and fees and the ones with 7 pages of instructions for a 2 page form. The ones that say the Client requires 5 sold comps and 2 listings for half price. Nice to have them offer their "clients" this "free' extra and tell the appraiser it's a client requirement. Then have to explain each check box to them. Just so their brain dead reviewers(not appraisers)can figure out the "predominant" value or if the lights were on in the house. We can announce the "Winners" in a list of Best Parasites.

Pipette: (April 14, 2010 7:58am)

It is unfortunate that I do not get a PIW that's property inspection waiver on every DU finding. Keep complaining you grid adjusters.

ALL CAPS: (April 14, 2010 7:52am)

JUST THINK OF ALL THE EXTRA IRS AGENTS BEING HIRED FOR THIS HEALTH CARE SCAM. WHAT DO YOU THINK THEY'RE GOING TO DO TO ALL THE PEOPLE WHO DID THESE SHORT SALES AFTER USING THEIR HOME AS AN ATM TO BUY NEW CARS AND TAKE VACATIONS WHILE THE REST OF US DROVE USED CARS AND STAYED HOME? AS MUCH AS I HATE PEOPLE'S LIBERTIES BEING RAPED, IN THIS CASE I MUST ADMIT, I DON'T FEEL REAL SORRY FOR THEM. I WONDER HOW MANY AGENTS WILL BE SUED FOR "STEERING" PEOPLE INTO SHORT SALES INSTEAD OF JUST LETTING THEM WALK AWAY. I'D BE REAL CAREFUL ABOUT THAT.

lhamitlo: (April 14, 2010 7:49am)

HERE IS THE LINK TO THE FOLLOW WEBINAR TODAY WITH TBWS AND THE ANIMALS..We are having another webinar today at 2:00 Eastern. It will cover some of the same material and will have a wrap up at the end. Link - https://www2.gotomeeting.com/register/820619291

Ellee: (April 14, 2010 7:48am)

:-) I passed the test a couple weeks ago.... and I've only been an originator for about a year. It's really not THAT hard if you have the knowledge you need to do your job.

pdxbroker: (April 14, 2010 7:44am)

refer clients to the realors... that will do it

LauraTheThesaurus: (April 14, 2010 7:32am)

Hey folks, heres a tip for you who've not taken the exam: READ YOUR CLIENT DISCLOSURES. If you know this stuff, have been around the industry for 5+ years and explaining these daily, this is a fast, free & easy source to improve your odds. I passed- 92%.

Joecolorado: (April 14, 2010 7:29am)

sorry should have read-"Than" to hand deliver.

Joecolorado: (April 14, 2010 7:26am)

just deliver the report by email,then you wont have to worry about additional copies.It is sometimes preferable and less expensive to hand delivering a paper copy,however by email,the human contact is lost and with it a face to a name.If they dont remember you,the chances are you wont get additional work.If you gouge them,they will recognize that fact,you wont get additional work,why not be honest with yourself and just give them a fair price for the work done which reflects your experience and worth.If they respect those facets,they will use you,if they want to negotiate,then do so to the extent of your worth,but if they want to gouge you,dont let them.....move on,as there is no satisfaction in flogging a dead horse.

stan the man: (April 14, 2010 7:24am)

To Bob, Come on man. we don't need that kind of talk. If you do that type of thing then shame on you. Most of us hold our head up and do the right thing.

MortgageMike: (April 14, 2010 7:22am)

To - Mad as hell. : (April 14, 2010 6:14am) In FLA, Commercial Agent Boner can list all the FSBO's he wants for $150. It's his right as a member of the MLS! So what. However if you're not doing any Commercial Real Estate and you wanted to get some action perhaps you could list Commercial for $150? Not to shoot yourself in the foot but as Boutique Services: List $150 Market the heck out of it! 1.5%?? Market and Move it in 90 days!! 2.5%?? Besides most Buyer Brokers I know subconsciously look at the compensation and when they see it severally discounted they don't walk away, they run and almost never show it, knowing that "Trouble up front is trouble all the way through."

Southerngirl: (April 14, 2010 7:20am)

Mike Glickman of the San Fernando Valley in Souther CA. I forgot what his flat fee is but it is minimal compared to the average commission charged.

PROUD: (April 14, 2010 7:13am)

MORTGAGE MIKE you make me proud. It's practices just like that which have made Appraisers the trusted component to the Real Estate Industry and is why no one would ever create any legislation or back room deals to mess with you guys because you are beyond reproach. I know sarcasm doesn't come across well on a forum, but trust me there is so much dripping from this post that the posts below it won't be legible for much longer.

Joecolorado: (April 14, 2010 7:13am)

Riblah-almost forgot the most important source....your old clients that currently cannot instruct you....keep in contact with all of them as the ordering requirements may change and you want to be the first one in their minds if and when that happens.

MortgageMike: (April 14, 2010 7:09am)

To - (Bob April 14, 2010 6:30 am) on lowered Appraisal fees. Hey Man times are tough. I'd find out what that Bank WOULD pay you (say 250), agree if they pay you up front only, then bite your tongue and do it! Later when they call, "Oh you want a copy? That's another $100"

Gilbert: (April 14, 2010 7:08am)

Does anyone have the link to the practice exam that was posted on this site the past month?

Joecolorado: (April 14, 2010 7:02am)

Dont forget your Real Estate agents,they are a great source of information and work,if they need help to price a property,do a 2055 instead of a URAR and offer them reduced fees,they will remember that fee reduction in the future(my fee invoice reads the full fee a subtracted amount for the discount given as they are having a hard time too.)The work that gets done for them is also spoken of in their offices which helps your marketing. I speak to several Realtors every week,just to touch base.I speak with bank officers jst to touch base.I talk to other appraisers to get a feel for their office and businesses,a lot of them are direct competitors, but we help each other with advice as we are also friends.I talk to my competitors to see if they can give me advice on marketing,its surprising some of the suggestions out there.good and bad ones,but I keep on trying to adapt to the situation.

Loan Junkie: (April 14, 2010 7:01am)

Are there any other special requirements for the national test if you are a broker?

frankgaray: (April 14, 2010 7:00am)

Trust me.. we're hearing from many who have failed it. It's like any other licensing exam. A little tricky here and there. A quick little crash course before you take it should ensure you don't get delayed for 30 days. Plus there is the 20 hours required for many peeps as well. The vendors we have been featuring can help with that too. Knock 'em dead out there!

riblah: (April 14, 2010 7:00am)

I'm off to work, but want to thank you, Joecolorado, very much for taking the time to provide your valuable information; it really means a lot. I'll be back later-not sure how late this discussion goes on. Thank you, too, Bob.

GODLIKE: (April 14, 2010 6:58am)

Help U Sell, et al were put out of MLS not by the economy but my other Realtors who were scared of them and so they changed the regs about what services the Listing company must perform to be able to list in MLS. At least that's what happened in my area of the world

GODLIKE: (April 14, 2010 6:54am)

From what I can see from my courses and feedback I got from the the instructors, it's not the originators that are failing, it's all the other people who've now need to be licensed that have never really worked as originators that's failing. The test wasn't super hard, but it wasn't super easy either. It's about what I expected. I don't know a single person who's failed it.

SouthlandAppraisersUnion.com: (April 14, 2010 6:51am)

I agree with Bob: Appraisers are standing alone. They have no association, no union, nobody that stands for them. One amc is charging $600 and offering $225 to the appraiser. I have lenders I have worked with for 20 years, and I cannot even call them now. This scapegoat thing is out of control. In Alabama, Bingo Bob and his laughing stock appraisal board director is charging appraisers $200 to hire a trainee and they are charging the trainee $200 to go to work. This is above all application fees.

Joecolorado: (April 14, 2010 6:50am)

Riblah,-I would also considers starting my own company,and using a program like AlaMode as they have Mercury networking which you can market your skills through their program to their contoacts. You do pay for that privilege,as they are an amc(you have to pay a fee to get work) but its a start.Ths is a hard time and having a boss that is not in this business is just making it harder for you,but dont dump him,just market yourself TO him as an option he may use for work that he may need,I suggest that you get a fee scale that you are comfortable with commensurate with your experience and stick to it.I have a little pamphlet that has all my details,experience,phone numbers,work area and small blurb about who I am and what I have done to personalize any office contact, and then I just knock on doors.Its hard to do,as if it was easy everyone would be doing it.Keep the faith and realize that this is a GREAT profession,lots of fun,lucrative,and you meet the nicest people.

Bob: (April 14, 2010 6:45am)

You can also get work by knowing agents in your area, I know several and I am always recommended when they need appraisals for non mortgage purposes. I did 3 appraisals last month (AI form) for taxes, loan modification, and personal. Its out there just let people know who you are.

Joecolorado: (April 14, 2010 6:43am)

Riblah-If I were in your position,I would go and market myself to attorneys and lawyers that are in the Estate business,get to know the paralegals in those offices as they are the contact points.Try contacting accountants as they have access to clients that may need valuations for taxation purposes,talk to divorce lawyers,although this can be a difficult appraisal as they can be contentious and a thick skin and a firm grasp of impartiality is required(not for the appraisal but for the details of the divorce)talk to the State and see if they need any contract review appraisers,consider doing some volunteer work at the assessors office as its an"In"for contract work later on when times are hectic for them.Talk to the County Attorney about refereeing taxation matters,Talk to the DEA to see if there is work on their seized homes,talk to the IRS about reviewing taxpayer submissions. try some of these suggestions, hopefullly some may work out for you,but DONT give up,there IS work out there

Buckhead Mortgage Group: (April 14, 2010 6:32am)

The Federal Test is not that hard, just make sure you answer the questions that are based on consumer protection, in favor or as if you were protecting the consumer. Although the answer could be argued that it is wrong, the question is designed to make sure you are looking out for the consumer- Your Atlanta Mortgage Connection- Buckhead Mortgage

Bob: (April 14, 2010 6:30am)

It is really hard to make it as an appraiser at full fee, unless you are willing to work for AMC's that want to pay you $175.00 an assignment. If you want full fee's check with your local banks to see if you can apply to get on their rotations, also check with bigger lenders in your area to see if they use their own roster. I am contacted about 1 or 2 times a week to see if I will do an appraisal, when they ask my fee I say $350.00 and they say they couldn't possibly pay me that and I say then I couldn't possibly do the assignment. Stand firm or find another line of work.

Mad as hell. : (April 14, 2010 6:14am)

Here's the name of Florida's most hated agent MILAD ARAM BONYAR. Basically he is listing FSBO in the MLS for $150. I beleive he is a commercial agent who does this as side line. He doesn't care he doesn't do residential anyway.

tjs: (April 14, 2010 6:00am)

Hi, My blog on activerain.com/firstprocap concerned bogus landlords, are you hearing more about this?

riblah: (April 14, 2010 5:59am)

Willy Appraiser:"go market to some non lender sources"- could you please elaborate on this? What exactly does this mean? I know what non-lender sources means, but what do you say to them, or who do you ask for? I'm afraid I'm a complete n00b when it comes to marketing! I admit it! But I'm brave and willing to give it a go. Thanks for your help,peeple.

stan the man: (April 14, 2010 5:46am)

Thank you guys. I'll do that. This is the best place to get advice and know what is going. TBWS thanks you guys are great.

Willy Appraiser: (April 14, 2010 5:45am)

$175 - 30% for taxes = $122.50. Take another $25 for expenses...$97.50....4 hours....you are at $25/hour. AT LEAST 1/2 of where you should be....C'mon man.....DONT TAKE THE RIDICULOUS FEES

STM: (April 14, 2010 5:42am)

To me from what I have seen on FHA "As is or As Repaired with the 1004D a home inspection and attached report from them would be the best way to cover yourself. Other wise you as an appraisers would have to go back to the subject when it is completed. without added fees. This inspection should be part of the appraisers work file I think.

Willy Appraiser: (April 14, 2010 5:41am)

Stan the Man...Clue #1 that you were dealing with a $.h.i.tt.y AMC....they were raping you on the fee. Take the energy you spent doing a $175 appraisal and go market to some non lender sources...it will be much higher return in the long run.

riblah: (April 14, 2010 5:41am)

Oh, and my screen name is riblah, not Anonymous

Anonymous: (April 14, 2010 5:40am)

All of you who are saying to refuse to work for AMCs for cheap fees, what do you advise we do? Due to my husband divorcing me, I began working at an appraisal company with about 10 appraisers. While I became very good at appraising over the years, I have no marketing experience. Work has dwindled; only me and 1 appraiser are left here, and the guy who owns the place where I work (who isn't an appraiser) isn't doing any marketing as he has other business ventures. I don't want to start my own business. Any advice from some of you with a lot of experience, such as joecolorado and others, would be greatly appreciated.

RDH: (April 14, 2010 5:31am)

Hey guys what about Home Inspectors??

RDH: (April 14, 2010 5:30am)

Hey guys what abiut Home Inspectors??

stan the man: (April 14, 2010 5:30am)

I have a good rep. in my area and I can't find a GOOD AMC. The AMCs I was just talking about was baited when I asked if I should lower my fees. I just wanted to see what would happen. They were all over that and asked if $150 looked good to me and they would make sure that they sent me more work. It's all about the money. The only thing that I can say is that for now I'm trying anything I can to keep the doors open and pay my bills. But even when I'm working I can't get paid. I am now call my state repersenatives/ senators and trying to do thing thing that comes out to fight HVCC.

dbpete: (April 14, 2010 5:19am)

What is the least acceptable factor in evaluating a mortgage loan? (credit, debt, amount of income, source of income) Who writes these questions? If this were a non-multiple choice answer, few would get it right. Before one can be tested on a subject, the tester needs to know how to write a test that is VALID and ACCURATE. That needs to start with an unambiguous question. If it can legitimately be read more than one way, it is invalid. This question leads me to think the test is going to be challenged a few times. ( I did get the answer.)

Mark: (April 14, 2010 5:16am)

Test isn't that bad we have a 22 out of 22 pass rate.

LTbyLAX: (April 14, 2010 5:07am)

Stan, Stan the man. Stop doing appraisals for $175, just stop it. Then the AMC will go away.

Ohio mortgage Professional : (April 14, 2010 5:05am)

I would love to see loan officers at banks have to take this test. I am sure there failure rate would be even higher than mortgage brokers

Woodyva: (April 14, 2010 4:46am)

Wow, loan officers not passing a national exam. That's a good thing everyone, as not everybody should be able to do that job. The same should be said for agents as well. Anyone with a pulse can pass the national and state exams for agents. The appraisal exams have become rather difficult for just anyone. The point is, each job should require specialized skills and knowledge. To those that do pass, congratulations. Now if there was just a way to enforce ethical conduct for those that do pass...

amirshahkarami: (April 14, 2010 4:40am)

When is the part 2 of facebook fan page webminar? I thought it was supposed to be today.

fl appraiser: (April 14, 2010 4:38am)

Stan the man...where was your brain when you agreed to do appraisals for that fee? Sincerely hope you have learned your lesson, NO AMC WORK!!!

Anonymous: (April 14, 2010 4:10am)

Hey guys, Great stuff as always - you need to call them Limited Service Brokers next time - not Discount Brokers...would hate to see you get in any trouble with agents in that category if any of them are left in the business as you mentioned! Scott

Bill Oliver : (April 14, 2010 3:54am)

I love TWBS DAILY Fan Page join it! They are ANIMALS!

stan the man: (April 14, 2010 3:29am)

Can you tell me where to file a complaint about a AMC that is teking 90 to 120 days to pay my $175 fees and then takes you off thier list? And how is HVCC bill coming along?

Anonymous: (April 14, 2010 1:12am)

Brian, Creditable? Your a ghost on NMLS.