Comments on: Loan Originator Licensing Update http://raincityguide.com/2007/05/21/loan-originator-licensing-update/ Seattle's Leading Resource for Real Estate Information Sat, 21 Nov 2009 06:01:18 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Rhonda Porter http://raincityguide.com/2007/05/21/loan-originator-licensing-update/#comment-185368 Rhonda Porter Wed, 26 Sep 2007 23:23:02 +0000 http://raincityguide.com/2007/05/21/loan-originator-licensing-update/#comment-185368 Moooeeehh ahh ahh ahh!! (okay...that's my best attempt at typing the Dr. Evil laugh). Moooeeehh ahh ahh ahh!! (okay…that’s my best attempt at typing the Dr. Evil laugh).

]]> By: Susan Short http://raincityguide.com/2007/05/21/loan-originator-licensing-update/#comment-185367 Susan Short Wed, 26 Sep 2007 23:21:54 +0000 http://raincityguide.com/2007/05/21/loan-originator-licensing-update/#comment-185367 Now you are dangerous! Now you are dangerous!

]]> By: Susan Short http://raincityguide.com/2007/05/21/loan-originator-licensing-update/#comment-185366 Susan Short Wed, 26 Sep 2007 23:20:38 +0000 http://raincityguide.com/2007/05/21/loan-originator-licensing-update/#comment-185366 That is awesome! That is awesome!

]]> By: Rhonda Porter http://raincityguide.com/2007/05/21/loan-originator-licensing-update/#comment-185300 Rhonda Porter Wed, 26 Sep 2007 18:44:33 +0000 http://raincityguide.com/2007/05/21/loan-originator-licensing-update/#comment-185300 NOTE: <a href="http://www.mortgageporter.com/reportingfromseattle/2007/09/i-passed.html" rel="nofollow">I passed</a> my DFI Loan Originator exam this morning. :) NOTE: I passed my DFI Loan Originator exam this morning. :)

]]> By: Susan Short http://raincityguide.com/2007/05/21/loan-originator-licensing-update/#comment-142778 Susan Short Wed, 30 May 2007 20:23:31 +0000 http://raincityguide.com/2007/05/21/loan-originator-licensing-update/#comment-142778 I appreciate that Rhonda. I appreciate that Rhonda.

]]> By: Rhonda Porter http://raincityguide.com/2007/05/21/loan-originator-licensing-update/#comment-142763 Rhonda Porter Wed, 30 May 2007 19:27:03 +0000 http://raincityguide.com/2007/05/21/loan-originator-licensing-update/#comment-142763 Susan, I have to give you kudos for being the only "mortgage banker" to ever comment about licensing. Susan, I have to give you kudos for being the only “mortgage banker” to ever comment about licensing.

]]> By: Susan Short http://raincityguide.com/2007/05/21/loan-originator-licensing-update/#comment-142737 Susan Short Wed, 30 May 2007 18:11:52 +0000 http://raincityguide.com/2007/05/21/loan-originator-licensing-update/#comment-142737 I see your point but I guess I do not feel the same way as you. The standard is good on both sides is how I feel. I used to work in a Brokerage too and so I have seen both sides and I think that this change is awesome for the Brokerages and I think the general public needs to also know that Banks are monitored and have always been and within the Banking institutions the Mortgage Consultants do need to know what they are doing. If they don't they too have accountability. Maybe to a different source but there still is accountability. I appreciate your point and love reading your Blogs! The consumers need to know all that they can and I think this is a wonderful way! I see your point but I guess I do not feel the same way as you. The standard is good on both sides is how I feel. I used to work in a Brokerage too and so I have seen both sides and I think that this change is awesome for the Brokerages and I think the general public needs to also know that Banks are monitored and have always been and within the Banking institutions the Mortgage Consultants do need to know what they are doing. If they don’t they too have accountability. Maybe to a different source but there still is accountability.
I appreciate your point and love reading your Blogs! The consumers need to know all that they can and I think this is a wonderful way!

]]> By: Rhonda Porter http://raincityguide.com/2007/05/21/loan-originator-licensing-update/#comment-142463 Rhonda Porter Wed, 30 May 2007 01:11:13 +0000 http://raincityguide.com/2007/05/21/loan-originator-licensing-update/#comment-142463 Susan, "Do we have to pass an exam? No, but you won’t get the job if you don’t know what you are doing, nor keep it. Do we have to maintain your education? Yes, if we want to keep our job." Banks are not held to the same higher standards that a broker is by the State of Washington. You just proved it. ;) We all have to stay educated and know what we're doing to do a good job. Some LOs just need to produce to stay employed. Unless they work for a broker, they are not REQUIRED! Susan,
“Do we have to pass an exam? No, but you won’t get the job if you don’t know what you are doing, nor keep it.
Do we have to maintain your education? Yes, if we want to keep our job.”

Banks are not held to the same higher standards that a broker is by the State of Washington. You just proved it. ;)

We all have to stay educated and know what we’re doing to do a good job. Some LOs just need to produce to stay employed. Unless they work for a broker, they are not REQUIRED!

]]> By: Susan Short http://raincityguide.com/2007/05/21/loan-originator-licensing-update/#comment-142418 Susan Short Tue, 29 May 2007 22:38:30 +0000 http://raincityguide.com/2007/05/21/loan-originator-licensing-update/#comment-142418 Sorry, I did not get a chance to comment back I did just so happen to be in a training last week that was manadatory. I can not speak for all banks as they may have different requirements but we all do have to be compliant and I do know that they do background checks. They have too. We are governed by different entities to a degree then Brokerages therefore, the reason for the difference in requirements. Do we have to pass an exam? No, but you won't get the job if you don't know what you are doing, nor keep it. Do we have to maintain your education? Yes, if we want to keep our job. To take continued education and to be licensed is great regardless of wether you work at a Bank or Brokerage but what I feel is the real meat of it all is that finally there is some standards for the Brokerages that they did not have to have before. Banks have because they have always been monitored. That is the main point. What sets the Bank and Brokerage a part is none other than good customer service so with that said, I won't comment on all the other remarks for they are "remarks" that sad to say do happen whether you are in a Bank or a Brokerage. Bottom line customer service is always paramount and so is integrity. We can only hope that these changes help the consumer to feel safe when they choose to work with a Bank or a Brokerage. Sorry, I did not get a chance to comment back I did just so happen to be in a training last week that was manadatory. I can not speak for all banks as they may have different requirements but we all do have to be compliant and I do know that they do background checks. They have too. We are governed by different entities to a degree then Brokerages therefore, the reason for the difference in requirements.
Do we have to pass an exam? No, but you won’t get the job if you don’t know what you are doing, nor keep it.
Do we have to maintain your education? Yes, if we want to keep our job.
To take continued education and to be licensed is great regardless of wether you work at a Bank or Brokerage but what I feel is the real meat of it all is that finally there is some standards for the Brokerages that they did not have to have before. Banks have because they have always been monitored. That is the main point. What sets the Bank and Brokerage a part is none other than good customer service so with that said, I won’t comment on all the other remarks for they are “remarks” that sad to say do happen whether you are in a Bank or a Brokerage.

Bottom line customer service is always paramount and so is integrity. We can only hope that these changes help the consumer to feel safe when they choose to work with a Bank or a Brokerage.

]]> By: Rhonda Porter http://raincityguide.com/2007/05/21/loan-originator-licensing-update/#comment-139138 Rhonda Porter Wed, 23 May 2007 13:46:19 +0000 http://raincityguide.com/2007/05/21/loan-originator-licensing-update/#comment-139138 Jillayne, Sandy might just be confirming what her LO has provided her...giving her LO the benefit of the doubt. If a Doctor had diagnosed me "boogy-ectus", one of the first things I would do would be go check it out on the internet. It's the world we live in. I'm flattered that Sandy trust me enough to ask the questions. If she didn't ask her LO these questions or if the LO could not answer the questions, then I would have to wonder why she's working with this LO, too. I did ask her to email me her GFE and TIL so I can review it for her (I actually love doing this) but I have not seen it. Jillayne, Sandy might just be confirming what her LO has provided her…giving her LO the benefit of the doubt. If a Doctor had diagnosed me “boogy-ectus”, one of the first things I would do would be go check it out on the internet. It’s the world we live in. I’m flattered that Sandy trust me enough to ask the questions.

If she didn’t ask her LO these questions or if the LO could not answer the questions, then I would have to wonder why she’s working with this LO, too. I did ask her to email me her GFE and TIL so I can review it for her (I actually love doing this) but I have not seen it.

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