Tracy Hughes's (thughes7) Blog

Real Estate Broker/Owner - Hughes Realty



Hi all, If any of you are like me, your head is still reeling from all of the changes going on in the business.  Some of you may have questions, comments or concerns about the new GFE.  I received a really helpful email on Tips on the GFE, which goes over line for line the new Good Faith Estimat...
I blogged last week that federal lending laws were such a large portion of the National NMLS exam so we are focusing on those to remember for your test.  This week is TILA!  The Truth in Lending Act,1968, is a US federal law designed to protect consumers and their credit.  It is Regulation Z, and...
NMLS has just released the latest information on the pass rate for the MLO national exam, including pass rate for re-takes.  As of April 30 the pass rate for the national exam is 71% (up from 68% in March).  For those who had to re-take a failed exam the pass rate is 44% (Ouch!).  For states the ...
Since quite a few questions on the NMLS national exam deals with RESPA I thought we could have a RESPA refresher. RESPA (Real Estate Settlement Procedures Act) was passed by congress in 1974 to prohibit kickbacks between lenders, realtors, construction companies, and title insurance companies.  R...
So I went to Fresno today to take my National and State exam for NMLS...and I passed!  Thank God for that CompuCram disc.  I got a 92% on my National component, and a 96% on the State.  If I could give any advice on what to study for, it would be the Federal Lending Legislation!  I would say that...
Just a reminder for the all Loan Officers who are registered with Department of Corporations in California, you must have completed your 20 hours of SAFE Act prelicensing education by May 28, 2010 in order to have your license by July 31, 2010, which is the deadline for DOC.  If you haven't signe...
It is up to you to provide your NMLS ID number to the educator who is banking your 20 hours of prelicensing education.  Also make sure you give them the correct ID number!  If you hours do not get banked, you are the one responsible.  Every MLO should be registered with NMLS and have an unique ID...

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