Posted 02 November 2009 - 10:18 PM
Granted, it's great that there will be an inordinately greater amount of regulation in the industry, come 2010, which is a good thing for all- no more absolute horseshit "Good Faith Estimates" that lure a borrower into doing a loan only to get screwed at closing, but still it's hard to sell loans when I'm doing 40 hours of continued education for each state I'm getting licensed!
It's going to be a couple of bare bones months until year-end... thankfully, November and December typically are. Just going to be tight!
Posted 03 November 2009 - 10:14 AM
40 hours of CE? For each state? Wow, you will be busy with just that let alone trying to earn a living.
Good luck, Bro....
Posted 03 November 2009 - 01:23 PM
In the financial advisor world it was intense and cumbersome.
Good luck and I too am glad some reg is coming to that industry.
Posted 04 November 2009 - 09:26 PM
My initial feeling is that this will not be good. Not necessarily so much to me, but more so to the borrower. When you drag the process out that long, the change in interest rates can be minimal, but more often they are quite dramatic. 45 days later, an interest rate's pricing can swing dramatically.
I am NOT a fan of this.
I am having to go through this enormous amount of "education" for which I feel the borrower is going to be the one that loses. I can sell a good loan all day long, but when an interest rate can and does change as much it as does and will in the amount of time the Fed's are going to require 01/2010, it makes me apprehensive of being in this industry. That is a scary thought.
Edited by dimbee, 04 November 2009 - 09:29 PM.
Posted 05 November 2009 - 06:54 PM
Posted 05 November 2009 - 07:13 PM
I'm sure it is as boring as the seminar on liens that I took a while back. God how boring of a job could i have?! When i was a little girl i wanted to be a dancer why didn't i go that route?! no money but hella more fun
Posted 05 November 2009 - 07:16 PM
Wait... I don't think that came out right!
Posted 06 November 2009 - 10:26 PM
Posted 07 November 2009 - 01:10 PM
I am screwed if it happens that way.