My Mortgage Trainer is a full-service mortgage training, education, and consulting provider. We aim to be your partner by providing quality education, training, and compliance courses, as well as business and personal growth products.
Want to get into the mortgage industry? Connect with us, we're here to help. Our NMLS approved (Provider #1400080) pre-licensing courses will meet all national, and state, requirements as well as assist you in successfully passing the national exam. Once you're an MLO keep your license active by completing our online continuing education, or one of our amazing webinars!
Want a fun and easy way to generate way more referral business? Check out CheddarStacks.com or ru-vid.com/show-UCmBERDcIAIpG2KKSpoF9BqQ
Need additional Study Help? Look at our Test Prep Plus Program where you can sit through the live refresher as many times as you need to feel prepared: mymgtr.com/product/test-prep-plus-package/
So based on what you’re saying, if I already have a Real Estate license and just wanted to also do the loan portion too for my clients, I just need to get the DRE licensing for it right?
Yes, you would need to provide an ABA disclosure upfront and there are a few other nuances but mostly, yes. There is a 20 hour class you must take of course to get the license and then you would need an employer sponsor. Feel free to call the office if you have additional questions at 317 566 0425 and anyone can assist you.
Here is the link to comment before the time period ends: www.federalregister.gov/documents/2024/04/22/2024-08479/freddie-mac-proposed-purchase-of-single-family-closed-end-second-mortgages-comment-request
Get more info in our Mortgage Pulse Blog post: mymgtr.com/partnering-with-realtors-to-boost-business/ Free PDF and Infographic: 7 Steps to Partnering with Realtors: mymgtr.com/wp-content/uploads/2024/05/partnering-with-realtors-infographic.jpg mymgtr.com/wp-content/uploads/2024/05/partnering-with-realtors-infographic.pdf
Thanks for the question Peter, VA is saying “Fees or commissions charged by a real estate agent or broker in connection with a VA loan may not be charged to or paid by the veteran-purchaser. While use of “buyer” brokers is not precluded, veteran-purchasers may not, under any circumstances, be charged a brokerage fee or commission in connection with the services of such individuals. Since information on property available for purchase and financing options is widely available to the public from a variety of sources, VA does not believe that preventing the veteran from paying buyer-broker fees will harm the veteran.” - That is from the VA Handbook, Chapter 8
Great information on the NAR Settlement! Jim's past experience working with the DOJ gives even more credibility to his expertise on this matter. Amazing job!
Thanks for the comment, t's just part of a narrated course book. Curious are you getting in the mortgage business or a consumer who was trying to understand ARMS? If trying to understand ARMS, we do have a video for that here: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-XeP968twPiY.html
It actually is a book and is part of a course. I am happy to jump on a call or zoom to actually answer your question if you like. You can email to info@mymgtr.com and we can figure out the best way to connect so I can assist. If you were looking for more info on how an ARM loan works as a consumer, we do have a video explainer here: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-XeP968twPiY.html
I don’t have any license yet but my scholarship only offer in different states. Can I have a license in different states but not where I live for the fist time license ?
You may license anywhere your employer sponsor is licensed as far as number or location of states. Feel free to call my team at 317 566 0425 if you have additional questions we can answer for you.
This was very informative, I am new to groundfloor and I currently have $245 spread across 68 loans. This definitely gave me home and ambition to continue investing. I definitely learned some new tactics to strategize
Glad I could help. I kind of started the same way and really spread my money, now a days I tend to throw more at a project I feel confident with investing in based on what I shared in the video - best of luck!
Thanks for the comment - you aren't wrong, this content is from the coursebook for the MLO licensing course. We have these videos available for students who are studying for the exam so its pretty boring content but necessary info to pass the exam. We have some more interesting content on our channel that you may want to check out. Best wishes to you!
You can transfer funds out to your bank account. If you are in a flip, you must wait until the flip converts. Average time is about 6 months, some shorter, some longer but the max term is 12 months. You can then reinvest in another flip or let the money sit in your account or transfer back to your bank account. Pretty simple process with just a few clicks
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Great video for anyone thinking about using media to generate mortgage business! Need help with getting your media presence going? We would love to help you. Visit us at mymgtr.com/product/mortgage-scripts/ or call our team at 317 566 0425 and schedule a free consult with Uncle Aaron.
Nationwide however being the agent and MLO in the same transaction will get some pushback. Most companies will have you refer the transaction on the mortgage side and you will only complete a few tasks but not likely be the MLO of record. They can still pay you a commission as an internal referral as long as you hold the MLO license in that state.
Hi I took 20 course through you in 2023 but material is not updated as 2024.I need new no for 2024 so I can prepare for exam.Kindly update 2023 20 hr slides or book
Our content is updated as rules change, are you referencing your study notes provided by your instructor? If so, we can provide you with the most up to date study notes since we build those live in each event. Call our office at 317 566 0425 and and ask for Justin.
Don't care. I'm 43yo and dont have a banck account or money app of any kind. No social media. No email address. I pay cash for everything. A 12yo in his moms basement cant get to my money. Cash is king.
Thank you, we are here if you need us - The grant we have access to for the Pen testing is a huge bonus for smaller companies as this will save the $1,000 initial testing fee. We were honored to be able to get access to this grant to pass on to our clients!
Yes, there are some smaller Mortgage Broker shops out there who will take on a part time MLO. This will allow you to get a pipeline of loans going to build your bank account for a full time move. We have mortgage company clients Nationwide and can make an introduction for you after passing the exam.
What is the difference between what you do and working for a company like Rocket Money? I'm retired from the military and am interested in this as a career change.
Thanks for the question. I am a Veteran myself, served with the US Army, 7th Infantry Division and also went to the mortgage industry after my service. To be clear, I am not a lender like Rocket. I am a school that provides the required education and license training needed to become eligible to work for a company like Rocket Mortgage. Prior to getting hired to work as a mortgage professional you must compete a 20 hour training course, pass a background check and teste so you may apply for a state license. Once you have completed these items you are eligible for hire with a mortgage lender or mortgage broker. I would be honored to met you and answer any questions you have over a ZOOM if you are comfortable with that? You can email me directly and I can walk through all of your questions. My email is aaron@mymortgagetrainer.com Hope to meet you and thank you brother for your service!
Assume an MLO gets licensed in multiple states, are there also continuing education CE requirements annually also for each state in which the MLO is licensed or only for the state the MLO resides in?
Okay, thank you. I thought each state might add many hours of annual CE requirements which can quickly add up, but doesn’t seem it will put too much of additional study hours each year to maintain multiple state licenses.
Yes, conventional loans did not have the same rules as Government loans. As a result this kept most from being able to provide dual roles as most lenders are FHA approved. With HUD eliminating this language, there are no barriers that exist other than the Agent obtaining their license and finding a sponsor (lender or mortgage broker) to hire them.
