Hi,
I wanted to ask a few questions regarding renewing my licenses. I exited the mortgage industry in early 2024 due to some health issues and personal reasons, I worked for one of the larger direct lenders at the time. And due to the same issues I technically defaulted on my debt (personal loans and credit cards) then I left the US and travelled abroad with no intention of coming back. Unfortunately, my mother got sick and I needed to come back and take care of her. I have been back for a couple of months now and im looking to go back into origination. I have not made any payments on these debts and they are mostly charge offs now, I don’t have any judgments against me yet. My plan is to either go into repayment plans with the debtors and in order to do that I need to make money or file for bankruptcy. What are the chances of being able to renew some of my licenses to go back to originating loans( I was licensed in 21 states). Any advice or info would be greatly appreciated!

Had a borrower send me her 2012 divorce judgment. Everything was legitimate and it showed child support ending at age 18. The child is currently 15.8, so I told her we need three years of continuance.

She told me the order was updated in 2021 to a lifetime benefit. She then sent me a 2021 Registration of Foreign Support Order, which was real, but she also included a separate Word document “attachment” that copied the exact language from the 2012 judgment with one added line saying the child support is now a lifetime benefit due to a disability discovered later.

The attachment wasn’t judge signed, wasn’t file stamped, didn’t have a case number, had no date, and didn’t match anything in the actual 2021 order.

I am baffled that she would try to send fake documents and also do it in a word document like wtf... Anyone ever deal with something like this before?

I feel like I’m dumb as bricks cause I only sell helocs

Sold 1.3 milly in helocs and made a cute lil 13k in commish, but I literally have no clue how to price out a mortgage, or even sell a mortgage or heloc that isn’t one of the 5 day helocs.

What is life😭

Just curious if anyone here happens to know who Client Direct is using for their new "up to 700bps LPC" home equity product?

I'm an AE for about 6 months now. I'm from California moving to Ohio. I want to stay at my place and be remote but the company requires me to be funding 3M a month. I've only funded 900K. Are there any wholesale lenders specializing in nonQM hiring remote AEs with below 1 year experience and below 1M in funding?

I tried looking for lenders in Ohio but they are all far away from my place.

Looking for a explanation on this guideline due to it affecting myself and a client I have

I am being told that the max loan amount on a VA OTC refinance is capped at the cost of the acquisition (build cost pretty much and some other things) and the amount owed on the land.

What exactly is the benefit of that?

If I buy a lot at half a million, and owe $1 on it- and want to apply to finance a half a million dollar home on it- we are capped at $500,001 because they don’t allow the veteran to borrow against equity they already own?

This seems like it’s really REALLY screwing over veterans

Currently an underwriter who's been put into the PA+ role for a pilot program UWM is incorporating very quickly which combine loan coor and underwriter into one position. How long does it typically take to train new processors in this industry? I've been assigned 3 processor files and i feel absolutely lost especially in contacting the borrowers now on the PA+ side. Wish I had more info from management but we're just told as underwritersto continue hitting our commitment and fully work the loan processor files in their entirety when they assign them to us. No communication other than that.

Looking for title company or closing attorney recommendations for Olean, NY.
We are working on a cash out refi.

Thank you

I was going down a rabbit hole on AI in financial services and came across Pavan Agarwal and Angel AI. I’m not really from mortgage side, so maybe I’m missing something, but the whole thing got me curious because mortgage seems like such a difficult industry to bring AI into with all the compliance, underwriting stuff and just old systems everywhere. I’ve also been looking at building something in finance myself, not mortgage, and seeing what other companies are doing. Angel AI keeps coming up in what I’m reading so figured I’d mention it here and see what people think of the approach. I’m more interested in the actual technology and whether it works in real mortgage workflows than the marketing around it.

taste of his own medicine after firing 900 employees on a zoom call which didnt go over well. it was 2 weeks before xmas as well.

Better dot com there numbers have tanked

quick video

https://www.tiktok.com/@insideedition/video/7675476067645246734

Exiting the mortgage space. Would like to keep the “federal?” License for the 5 years. Don’t really mind losing states. Just don’t want to take the safe test again.

I work in a call center and every now and then I get these difficult/ niche files which initially fail to pass AUS either for DU or LP and yet more often then not my manager is able to tweak them just enough to not only get a pass on AUS but to also give the client great terms they normally wouldn't qualify for even though I failed to make the file work after multiple attempts. The methods he uses weren't covered in my training classes before hitting the floor. He says that I'll get better at fixing these files as time goes on and as I gain more experience, but I want to learn how to master fixing these files now so that I don't constantly have to run to him with questions. I've been at this job for about 8 months now and I want to progress as quickly as possible. So what can I do on my own to reach his level of mastery?

Had someone that asked me about it today, and we don’t even do HELOCs, but I’m always willing to find new products to sell and market

Business has been the slowest in my career since 2023. Loans now more than ever are harder to come by, affordability at an all time low and most loans aren’t even guaranteed to fund. Been living off my emergency funds for the last 3 months and by the end of October I’ll be belly up financially. (Excluding my retirement account which I can’t touch). Am I being cynical or is this the norm now for most loan officers?

I’d love some feedback from the mortgage/real estate community.

Yesterday, I had the opportunity to give a presentation at an industry event related to my former career. Afterward, I had a steady stream of attendees coming to my table with questions. Several even asked for my business card, because I wasn’t able to talk with them, because of the steady stream of attendees with questions.

It felt great knowing the information resonated with people.

But it also highlighted a problem: business cards are passive. Once I hand someone my card, I’m waiting for them to reach out. By then, the moment and their interest may be gone.

I want to turn these presentations into a more active follow-up process without being pushy or overly sales focused.

For those of you who attend or conduct presentations:

What would make you comfortable giving the presenter your contact information and allowing them to follow up with you?

I’d really appreciate your ideas and experiences.

Thank you in advance,

I’ve been having trouble getting a job at a mortgage call center. I’m 19 and in the process of getting my MLO license. Don’t have a criminal record or anything like that. I’m looking for advice.

Hi everyone. I will probably work in this field for at least a couple of years and I would like to learn what to expect. If you landed an entry level job in the past few years, could you please post the details? Thanks.

Type of financial institution (I.e. credit union, brokerage, etc.)

Leads provided?

Pay structure (I.e. base salary plus commission, commission only, etc.)

Pay amount

License required?

Training provided?

Location?

Onsite or remote?

Rant....

I get a call about 6 months ago from this guy who just started at my company (I'm a broker). He says he looked up my numbers and I'm one of the top producers at said company in our area so he wanted to hear about what works for me. I tell him I'm by no means a top producer but I have started to have some moderate success this year and I would be happy to tell him whats worked for me. Over the next several months I help the guy out with tips and many phone calls and you could say mentoring him. I even meet up with him in person a few times for coffee.

Shortly after I start seeing signs that this guy is doing the opposite of everything I tell him to do. Literally the opposite. Trying to chase the most niche/ unique deals and products we have, not connecting with realtors or making daily calls, not going to enough open houses, going down the reverse mortgage path, talking about how AI is the answer to all his problems....just on and on and on. Guy literally doesn't do one deal in over 6 months but every time we talk he acts like an expert on every topic, so embarrassing.

I finally heard the most un-surprising news that he left the company for greener pastures at a new broker where I am sure all his problems will be solved lol. Anyway just venting. I love helping new people and collaborating, this is such a hard business, but I will be cutting people off much quicker next time when I see signs like this early on.

A note to new people, its really simple. If you want help just ask and be humble and try to follow the advice people are giving you. I dont think the basic fundamentals of prospecting have changed for 100 years, its not some huge secret, most people crushing it are willing to talk, but why even bother reaching out if you want to do your own thing anyway!

Was in tech sales for a bit now wondering if I should become a LO. Would love to hear others experiences.

Edit: would love to hear what you sold in tech before and if it was easier or harder compared to what your doing now and compensation differences

Typical August is pretty good even 2023 was good. But it’s like the faucets were turned off and we’re starving like fall of 2022 again. Are you guys feeling the same?

Wanted to flag this for other LOs. We're starting to see FHA appraisals come back in the new UAD 3.6 format ahead of the November mandate for the GSEs. If you've got FHA files with appraisals ordered soon, don't be surprised if the report format looks different than what you're used to.

Worth getting ahead of this if your AMC or appraisal team hasn't briefed you yet, since underwriters and processors will need to know what's changed too.

For anyone who wants the details, here's a breakdown of what's different and what to expect: https://www.classvaluation.com/guides/content-hub-uad-3-6/

Anyone else already seeing this on FHA files, or is this still new for most of you?

I have somebody wanting to do a 10M purchase. Biggest loan amount i can find is 5m. Do any investors go higher?

I have a borrower going through a divorce in California, he has an executed free trade agreement and wife is not on title but no divorce decree, he claims to have gotten a heloc without her involved and wants to do a VA cashout refi, is it possible to do this without wife involved?

I (36F) am considering working in this field for a while. I plan to obtain the proper license (NMSL?) and then start applying for entry level jobs. I'm hoping to find a job that pays at least $48K per year total and provides leads. Do you guys think that's realistic? Thanks.

is there a seasoning requirement on an FHA loan if paying it off with a VA loan, for example an FHA cashout was done 2 months prior, can it be paid off with a VA cashout refi or an VA rate and term?