Author Archive | Jillayne

Can a Loan Originator Pay an Assistant Directly?

Here’s a common question: Can a licensed loan originator pay an assistant directly (out of pocket) for work performed? For example, Licensed LO needs clerical work performed. For the sake of ease, we can break the clerical work into two scenarios, both legit: 1) Clerical work is being performed by a W-2 employee of the […]

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Idea: Attract more culturally diverse job applicants when recruiting for mortgage lending jobs

Beyond Craigslist, LinkedIn, Indeed and Monster.com, here are some ideas to attract a more diverse pool of candidates when recruiting for jobs in the mortgage lending and real estate industries. Note: This list is focused on the greater Seattle, WA area. Northwest Asian Weekly —– Seattle Chinese Times —– La Raza Northwest —– Seattle Medium […]

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Why Are Appraisal Prices So High?

I hear this question frequently from licensed loan originators and Realtors: “Why are appraisal prices skyrocketing all of a sudden? Is there an appraiser shortage?” The reasons for the appraisal price increase are many and the solution will be multi-factorial. I attended a Washington State Mortgage Bankers Dinner meeting recently, and we had an appraisal […]

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Realtors: Please Stop Advertising Loan Programs

Another day, another Realtor advertising loan programs on The Facebook, The Twitter and The Snap Insta-whatever social media platform is hot right now, or old-school mailers and postcards, Realtors live and die by leads. Marketing 101 taught us that there are two things that sell products: Sex and fear. Out of those two, fear sells […]

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Expanding Mortgage Loans to Consumers Without A Credit Score

Published on Inman Select Real Estate News December 23, 2015 Our government created the FHA Mortgage Insurance Program right after the Great Depression, to encourage banks to lend to people who have less-than-perfect credit. More recently, the FHA Mortgage Insurance program was used during the Great Recession to cushion the loss of subprime lending. FHA […]

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Marketing Services Agreements: Modern Day Extortion in the Real Estate and Mortgage Lending Industry

This article was originally published on Inman Select, November 3, 2015 Recent background At the end of 2013, mortgage companies and real estate firms dismantled their affiliated business arrangements (AfBAs) because the 2014 Qualified Mortgage rule required profits from AfBAs be included in the 3 percent limit on fee income. As 2014 unfolded, lenders and […]

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