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licensing: Short sale negotiation and the law - 06/09/10 10:32 AM
Not too long ago I wrote a post about short sale negotiation and included information from Ned Blumenthal about how the law relates to real estate agents and brokers. Ned was kind enough to email some more information back in April and I want to share it with you today as it is very important to those of you who operate in Georgia.
Let's back track momentarily so I can repeat my stance on "Loss Mitigators" who do not work for the lender, "Loss Mitigation Specialists" who took a class online and got a certification, and anyone else who gets in … (8 comments)

licensing: Real estate agents breaking federal law by negotiating Short Sales? - 04/01/10 04:07 PM
This post has the potential to be inflammatory so let me begin by saying, "I'm just the messenger."
In Georgia there are two attorneys who are considered to be and are, in fact, held out to be the real estate contract experts. By experts I mean they wrote the book on Georgia real estate contract law. "The Red Book on Real Estate Contracts in Georgia" published by the Georgia Association of Realtors was authored by firm partners Ned Blumenthal and Seth Weissman of Weissman, Nowack, Curry & Wilco, P.C.
Mr. Blumenthal recently wrote an opinion letter ("The Letter") about how the … (60 comments)

licensing: Ding Dong: Multi-Level Loan Officer Calling - 10/26/06 03:17 PM
Anyone can be a loan officer. Yep - that's what the ad says. Tired of selling plastic dishware to keep your leftovers safe? Pre-paid legal didn't turn out like you thought? Telecom downline too hard to manage?Well, shucks, boy! You can own your own mortgage company.
NO EXPERIENCE NECESSARY - that's exactly what the spam I get in my email regularly tells me. And it is one of the most frightening phrases I've ever heard in relationship to the industry of which I am so proud to be part. For most Americans their home is the single most costly and valuable purchase … (23 comments)

licensing: Oh Great! Another "legally" unlicensed mortgage company. - 09/25/06 04:18 PM
This madness must stop. Federally chartered banks, as you may or may not know, are just one of the entities not required to hold state licensing to make loans. Lenders and brokers are and they are held to high standards and constantly under the "threat" of losing their license ... or worse ... even if one rotten apple makes a mistake. 
Federally chartered banks? Nope. Not subject to state laws. In fact, in Georgia, they don't even have to abide by the "Fair Lending Act" but lenders and brokers do. So do you think you get a better deal from a Fed … (0 comments)

licensing: Broker? Lender? Loan Officer? Broker Individual? Broker Company? - 09/02/06 11:49 AM
The language gets confusing, I know. Maintaining national mortgage licenses does also. Does the title even make a difference? You BET it does!
In Georgia, the state with which I am most familiar, anyone who has a clean criminal background (no crimes that would endanger borrowers) and gets hired by a mortgage company can be a Loan Office. It's a shame and as a Broker/Lender I've been petitioning for years to have ALL Loan Officers in my state licensed. Many should absolutely not be in the business.
To be a BROKER you have to have either a specified net worth or me bondable, … (2 comments)

 
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Ken "Yes You Can" Cook

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