Tracy Hughes

So you have filed your MU4 application, signed up for your exams, and are ready to take the 20 hours of prelicensing education that you have been putting off since the beginning of the year. If this sounds like you, don't worry you are not alone. There are still THOUSANDS of MLOs left to take and pass the exams and become licensed with NMLS. It will be interesting to see who is still left in the business when January 1 rolls around.

The test rates for August have been posted and they are not pretty. National pass rate is 70% and a retake pass rate of 44%. State looks a little better with a pass rate of 82% and 63% for retakes.

Time is running out to become licensed by the beginning of the year so don't wait any longer to fulfill your requirements! The Hughes School can help you navigate the NMLS waters. We offer the 20 Hour SAFE Act course, via online webinar so you can sit at home and take your classes in your pajamas.

To check out our site, view the current class schedule, or sign up for the 20 Hour SAFE Act course to fulfill your prelicensing requirements go to: http://www.thehughesschool.com

And Good Luck Everyone!!!

The time has come for the Reno Air Races. I am very fortunate to be able to see it from the inside. My husband is the crew chief for Team Strega. We are blessed with a hot to trot pilot that rocks. We can not wait to get up there and kick some butt. The new commercial is pretty cool. Check it out.

http://www.youtube.com/watch?v=pVt_SsfC-RI&feature=player_embedded

If you are like the many phone calls I get everyday stating they failed the National or State Exam. You are not alone. I am finding that most people in the mortgage industry (the longer they have originated loans the more this applies) think they have been originating loans for so long they know everything there is to know for the exam. So they hurt themselves by not studying. I myself am a California Mortgage Broker and of course thought the same. What I found out was that I can package a loan upside down with my eyes closed but I did not know crap about all the new laws. So what I did was bought CompuCram's simulated test disk's for National and State. I took the exams it told me the answers I missed with an explanation of the right answer. It also breaks down the areas you need to study more based on the published National or State Outline of the exam. Check out the CompuCrams it helped me. www.thehughesschool.com

Well I don't know about you guys but I have been sitting here paitently waiting for word on my NMLS licenseing completion. After jumping through all of the hoops required by NMLS; filing both an MU4 and MU1 application ($500), taking my state and national exams ($169), fingerprinting, background check (ca-ching, ca-ching), giving them my first born child, I was FINALLY done and ready to receive my license. This was in MAY, so now that we are in the end of August, I broke down and called NMLS to find out what was taking so long for my licensing to be completed. After being on hold for an hour, they informed me that there was yet another hurdle in which I had to complete in order to comply with their requirements. I had neglected to fill out and mail in the Transition Check List! Here I was 3 months later thinking I had completed my requirements but I had not. On top of all of the things already mentioned do not forget to print out and mail in the NMLS Transition Check List. IT is a short form that just asks for your info, but it must be done or you will not have your licensing processed. This is just a friendly reminder to everyone who may be in the same situation. For other questions check out our site to help you get through the NMLS hurdles http://www.thehughesschool.com

For those of you who haven't taken your State Exam for the MLO licensing requirement, you will be happy to know that the Hughes School now has a California Mortgage Lending Webinar available to help you cram for your test. This live 2 hour class will cover all of the aspects of the California State MLO Exam, including CA Penal Code Law, DRE and DOC licensing and the SAFE Act. The course is available several times a week and they fill up fast so reserve your spot today. Check out our site here for more info or to order the class.