Jan 22

All those mortgages that were granted to homeowners with questionable credit and were a driving force behind the Great Recession were overseen by mortgage loan originators and mortgage brokers. Most of these individuals were on the up and up, but a few were crooks. They were out to make as much as they could by seducing consumers into taking out loans that they couldn’t afford.

It is this later category that led Congress to pass the Secure and Fair Enforcement of Mortgage Licensing Act of 2008. This law is designed to protect the public from loan officers who are operating without a license or who are not “in good standing” with their state licensing board. Most states went on to pass their own local version of the SAFE Act to create the infrastructure required to support the federal law. Many also took this opportunity to strengthen their state requirements to exceed that of the federal government.

Loan Officer Training has always been a component of most state licensing. The new system just instituted stricter requirements for content, especially regarding knowledge of federal mortgage law and fair lending practices. Training programs will also include a significant component on state mortgage laws as well as ethics and other mortgage topics.

By creating a national registry of those brokers and loan originators who have valid and active licenses, it makes it much easier for consumers to check that the loan officers they are dealing with are licensed and in good standing. It also makes it easier for state and federal authorities to find those who are operating illegally and take steps against them.

Oct 18

College is one of the most exciting times of your life. It’s a chance to get out on your own, try new things, make life-long memories, and begin planning your future .
Some of the biggest parts of those years are, of course, the classes. Unlike high school you get to study whatever you want and have more freedom in choosing your classes. It’s the time to choose your path and begin acquiring the skills that will help you in your future career .
Along the same lines in the learning process are the all-important internships. The opposite of classes, internships, like those at Southwestern Company , allow you to really get your hands dirty and experience the job first hand. A good internship allows you get involved in projects and be a part of the team. You can get testimonials from previous interns and employees online at websites like the Southwestern Company blog
The main goal of college and the later teen years is to begin planning your future and then putting that plan in place, but you don’t want to forget to have fun. Make the most of your time before marriage and a career to spend time with friends, study abroad, or develop a new hobby. These years will be the most liberating of your life so make the most of them.