Choosing an NMLS Mortgage License Education Course Provider | Education

Every Mortgage Loan Originator licensed in the United States must complete Pre-License Education in order to obtain a license and Continuing Education each year in order to renew the license. There is a federal mandate that each state require at least 20 hours of Pre-License Education and at least 8 hours of Continuing Education each year after the license is approved. And many states have decided to require additional “state-specific” Pre-License and Continuing Education on top of the federal mandated minimum requirement. If a Loan Originator obtains licenses in many states, there could be a lot of Continuing Education required each year, which brings us to our main topic. How do you choose a Mortgage License Education Course Provider that can make this process as simple and painless as possible?Availability of Courses – Each Mortgage License Education Course Provider must get their courses approved through the NMLS (Nationwide Mortgage Licensing System). Some Course Providers only get the main 20 hour Pre-License Education and 8 hour Continuing Education, so if you are licensed in any states that require state-specific education, you’ll have to do that part with another Course Provider. Most Course Providers only get some of the state-specific education approved for the larger states, because it is very time consuming to get approved and maintain if they don’t have enough customers taking the courses. Very few Course Providers get the state-specific Mortgage License Education Courses approved by the NMLS in every state that requires it. If licensed in many states, it is best to find one of these few Course Providers that offer all courses.Course Formats – The Course Providers are able to provide Pre-License Education in 3 formats: Classroom, Webinar, and Online Instructor-Led. Classroom is a live course in-person. Webinar is a live course via a webinar online. And Online Instructor-Led, which is by far the most popular, is an online course at your own pace with a small amount of instructor involvement to meet the NMLS requirement that there be interaction between the student and the instructor. Due to the instructor interaction, the Online Instructor-Led courses must be done within a certain window of time. Usually 2 days for a few hour course up to 12 days for a 20 hour course. For the Continuing Education, Course Providers are able to offer all of the same course formats as the Pre-License Education plus an Online Self-Study format. The Online Self-Study format is virtually identical to the Online Instructor-Led format, except that there is no window of time that the course must be completed in and there is no instructor interaction. For most people, the Online Self-Study format would be the best option for the Continuing Education. Not all Course Providers offer all Course Formats, so you will want to find a Course Provider that offers the formats you prefer.Technology Platforms – Specifically for the most popular Course Formats, Online Instructor-Led for the Pre-License Education and Online Self-Study for the Continuing Education, the technology platform of the Mortgage License Education Course Provider is critical to making the process smooth. The NMLS has specific guidelines on how the Education Course must operate regarding timing of the course, instructor interaction, timing out after a certain period of inactivity, verifying that the person taking the course is the actual Loan Originator, etc. However, the Course Providers have a lot of flexibility in making the compliance with these requirements as painless as possible. There is a huge difference between Course Providers so you may even want to ask to test their systems out before purchasing courses, especially if you are licensed in a lot of states or are making the decision of what Course Provider to use for many Loan Originators.Customer Service – In my experience, this is by far the most important factor. Issues will come up such as courses not reporting to the NMLS properly, course windows ending before the course is completed and the need to reschedule, questions about what Mortgage License Education Courses are required for a new license or continuing education to renew your Loan Originator Licenses, or even just issues navigating their website. When these issues come up, you want to have someone at their office that always answers the phone during normal business hours so you can quickly resolve these issues. I have found that not all Education Course Providers have the same excellent customer service that you would expect. This is critical. If you start finding that the responses from customer service are slow or inadequate, then it is probably time to start looking for a new NMLS Mortgage License Education Course Provider.

Real Estate Investing – Using Options to Purchase Property | Real estate

Did you know that by using real estate options you can legally take control of valuable properties to generate quick income with only a small amount of money. Learning to understand and use this valuable technique can be extremely valuable to the success of a new or seasoned real estate investor.In order to take full advantage of this great technique, you only need to understand how the technique works and become familiar with, and follow, your local state laws. Having learned how to use this technique and the law, you will soon be on your way to a great return on your investing efforts.Here are some very important questions concerning real estate options…What is a real estate option? Is that the same as a Lease Option? I thought real estate options were illegal! What are the steps in a real estate option transaction? And – How are options used to purchase real estate at discounted prices?What is a real estate option?A real estate option is a unilateral agreement:Between an optionor (The Seller) and an optionee (The Buyer, for the rest of this article I will refer to them only as the Buyer and Seller)Binding only on the SellerWhere the exclusive, unrestricted, and irrevocable option to purchase is exchanged with the Buyer for valuable considerationThe purchase of the option does not impose any obligation upon the Buyer to exercise the option and or purchase the propertyHowever, the Seller is bound by the agreement to sell the property at the agreed price to the Buyer should the Buyer choose to purchase the property within the option time periodThe elements that must be spelled out in an option agreement are:o Price (consideration) to be paid for the optiono Time-when will the option start and when will it expireo Strike Price-the mutually agreed purchase price or property during the option periodo Other terms and conditions of the option agreementIs a real estate option the same as a Lease Option?Yes and No! The option part of a lease option agreement could be exactly the same as the option agreement we are discussing but the lease option includes a lease for the property.
I thought real estate options were illegal!Real Estate Options of some kind are legal in most free countries in the world. It is the lease part that may cause some legal problems in certain American States. In order to avoid any problems, be sure to consult with a real estate attorney before entering into any real estate agreement.
What are the steps in a real estate option transaction?Here is a step by step overview of an option transaction:1. The Buyer and the Seller enter into an agreementAnd the Buyer pays an option consideration to the Seller The Seller grants the Buyer the exclusive, unrestricted, and irrevocable option to purchase property at a fixed purchase price
during a specified period of time.2. The Buyer eitherSets up a closing and purchases the real estate during the option perio sells the option to another investor or Lets the option expire by not purchasing the property during the option period
How are options used to purchase real estate at discounted prices?Investors may use options to gain control of a property for short time. During that time, the investor can seek out another buyer to sell to for a higher price than the option amount. The profit is the amount of difference in the amount of the option and the sale price.But a more creative use of an option would be to locate a seller having a hard time selling their property. Then convince that seller to sell you an option to purchase but with the right to sublease it immediately. The investor may then rent out the property on a rent to own agreement. This will allow the investor to generate some income while helping their renter get into the position to purchase the property from them at a substantial profit.Options are a great way to tie up property for a small amount of money. Some of the benefits of using options to purchase property are:Saving the closing costs of purchasing and selling the propertySaving the holding costs involved in purchasing a propertySaving the maintenance and many other holding costs of owning a propertySaving time by avoiding the loan process–setting up and going to closingsPutting time to use on more productive efforts like finding more optionsOne other thing to keep in mind is that a real estate option will expire when a Buyer fails to exercise the real estate option within the option period of the agreement. At that point the Buyer will not only lose their control of the property but also their original option payment.

Board Games For The Family Game Night | Board Games

If you are planning for a family game night, then you have to plan it well for best results. Remember the main purpose of game nights is to spend some quality time with the whole family. Although it is just a game night, it can already create a big impact to your family’s bond. If such event will just be held at home, then one of the most important things that you should include in your planning is the games that will be played. Basically, this will be the highlight of the night when everyone can have fun and enjoy. Think of some popular indoor games that are suitable for different age groups. You can look into some of the awesome board games that are really intended to be played by the whole family.If the time allocated for the family game night is very limited, then you can take a look into simple and short board games that are still fun to play. This is also ideal if your family prefers to play a game that can be done in a short period of time. In this way, you and your family can play a lot of games during the game night. In this case, you can consider the game “Blokus” or “Gobblet”.Aside from simple and short board games, you can also consider the type of board games that classified to be strategy games. From the name itself, these games do not just offer fun and enjoyment for the whole family; these types of games will also test the thinking skills and risk-taking abilities of the players. The player has to come up with a strategy or plan in order to win the game as well carefully make decisions. “The Settlers of Catan” and “Puerto Rico” are just two of the games that belong to this category.All of the games mentioned above focus more individual victory which is actually fine. But if you want to explore some other options, you can consider he types of board games that involves cooperation. Basically, this refers to the games that allow the family members to work together as a team in order to win. Each family member will have to play a specific role when playing the game and this is really perfect for big families. If your family prefers to play these kinds of games, then you can look into “Pandemic” and “Diplomacy” game.Aside from the board games that were earlier mentioned, you can also stick with the classic and popular board games like “Scrabble”, “Monopoly”, “Trouble and Taboo”, “Corn Hole Game” and many more. You can’t go wrong with these games because they have been very popular for quite some time now. So if you and your family are not familiar with some other types of games, these classic board games would just be fine. As long as the all the family members are present, everything will turn out great and everyone will surely have fun during the family game night.