NMP - September 2016 - 23

N A M B P E R S P E C T I V E Proficiency (LEP). This requirement would have asked the borrower if they would like to receive the loan origination process in their language and would have been a nightmare to implement. Think of the costs of a translator for the 1003 and would the borrower want the note and all other documents in their language too? What would the charge have been for those translation services on the Loan Estimate (LE)? It sure is an exciting time to be in the mortgage industry! I love this business and I wanted to send a huge "Thank You" to all of you. In July of 2016, I was included along with 49 others to be named as one of the "50 Most Connected Mortgage Professionals" by National Mortgage Professional Magazine. Alone with my peers, many of whom are my friends, I thank this publication and thank you. See you in Las Vegas at NAMB in September! Footnotes 1-Justice.gov/opa/pr/wells-fargo-bank-agrees-pay-12-billion-improper-mortgagelending-practices 2-CharlotteObserver.com/news/business/banking/bank-watchblog/article62456277.html 3-BuffaloNews.com/business/mt-whistleblower-to-share-in-64-million-fine-forloan-rules-violations-20160513 David Luna, CRMS has more than 35 years of experience in the mortgage lending industry. He is president of Mortgage Educators and Compliance, an NMLS-approved education provider, and is a member of the NAMB board of directors. He can be reached by phone at (801) 6762520 or e-mail David@MortgageEducators.com. Let's set the stage for non-credit continuing education By Bob Sweeney, CRMS As I mentioned in my June article, we all think our SAFE eight hours of continuing education is enough? It is not enough. Our industry and industry rules are constantly changing. We need to stay current with the latest product developments, skills and new technologies and seek out internet and live classes available to us but we need to take time out of our busy schedules and take advantage of them. If you are not an expert in VA, FHA or USDA requirements, for example, now may be the time to become an expert. Although the following is related to self-improvement books, I still think it applies. Brian Tracy, says in his book Time Power, "Read at least one hour per day in your chosen field. One hour a day will translate into approximately one book per week. One book per week will translate into approximately 50 books over the next 12 months. If you read an hour per day, one book per week, you will be an expert in your field within three years, you will be a national authority in five years, and you will be an international authority in seven years. All leaders are readers." What a powerful statement! We welcome any input from all mortgage professionals. If you would be interested in joining the Education Committee and become part of our future success in the education of our independent mortgage companies and mortgage loan originators, please feel free to contact me at Bob.Sweeney46@yahoo.com. If you are not an NAMB member, now is a great time to become a member. Go to your state association Web site or NAMB.org and join as a Professional Member. Bob Sweeney, CRMS is a member of the board of directors of NAMB-The Association of Mortgage Professionals and serves as the association's Education Committee chair. He can be reached by phone at (317) 625-3287 or e-mail Bob.Sweeney46@yahoo.com. 23 n National Mortgage Professional Magazine n SEPTEMBER 2016 Ever since the SAFE Act required eight hours of NMLS-approved education annually, I have been hearing from too many mortgage loan originators that the eight hours of continuing education is enough, or too much, and the professional development non-credit education course options have to take a back seat. In their defense, I have spent the last few days viewing the Web sites of most of the major NMLS providers, and to my surprise, other than Federal Law, Compliance and Regulations, there are very few companies offering non-credit continuing education courses to our mortgage loan originators relating to the latest product developments, skills, new technologies and rules changes to FHA, VA, USDA, 203k, Reverse and Mortgage Origination 101 and Mortgage Processing 101, as examples. One major reason is a lack of experts and qualified/certified trainers willing to get more involved in the non-credit continuing education of our mortgage loan originators. There has never been a better time to get more involved in the training of our mortgage loan originators. NAMB's Education Committee is working very hard in resurrecting the Train-The-Trainer course once offered by the NAMB Education Foundation, which is no longer active. I can tell you from first-hand experience as a wholesale account executive for more than 25 years, that I received the majority of my business as a result of training noncredit continuing education classes. In the past 17 years, I have been the trainer on 28 different mortgage subjects. The NAMB Education Committee has been very active in the area of recruiting new mortgage loan originators. We are very close to being able to offer a class for individuals seeking to get into the 1. Be more qualified 2. Make more money 3. Demonstrate success 4. Gain a competitive edge 5. Secure your future 6. A better lifestyle 7. Gain confidence 8. Improve your social network 9. Improve your mortgage knowledge 10. Become an industry expert NationalMortgageProfessional.com NAMB's Education Corner: Non-Credit Continuing Education mortgage business for the first time. It would be very similar to the Residential Mortgage Lending (RML) class that was offered years ago by the NAMB Education Foundation. We are working to create a few noncredit continuing education classes as well, with a few third-party companies in very specific areas such as FHA, VA, USDA, etc. There are many reasons on why non-credit continuing education is important. Each person has their own motivations. Below is a short list of reasons to continue your mortgage education. http://Justice.gov/opa/pr/wells-fargo-bank-agrees-pay-12-billion-improper-mortgage-lending-practices http://Justice.gov/opa/pr/wells-fargo-bank-agrees-pay-12-billion-improper-mortgage-lending-practices http://CharlotteObserver.com/news/business/banking/bank-watch-blog/article62456277.html http://CharlotteObserver.com/news/business/banking/bank-watch-blog/article62456277.html http://BuffaloNews.com/business/mt-whistleblower-to-share-in-64-million-fine-for-loan-rules-violations-20160513 http://BuffaloNews.com/business/mt-whistleblower-to-share-in-64-million-fine-for-loan-rules-violations-20160513 http://www.NationalMortgageProfessional.com http://www.NAMB.org

Table of Contents for the Digital Edition of NMP - September 2016

Table of Contents
NMP - September 2016 - Cover1
NMP - September 2016 - Cover2
NMP - September 2016 - 1
NMP - September 2016 - Table of Contents
NMP - September 2016 - 3
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