One Of The Biggest Problems For State Licensed Mortgage Loan Originators Is Using Proper Advertising
You can have completely accurate ads and still violate many State and Federal Regulations.
Last week, I introduced a new form to my classes. Most of them have never seen one. Of 60 students active in lending, only one had ever used one. It was one of my instructors, Joffrey Long; and he very strongly recommended that everyone placing ads use this form for RE884.
The form’s title is Mortgage Loan Advertising Submittal.
Mortgage Loan Advertising Submittal Procedure
The procedure is to complete this form and send the form, your advertisement, and $40.00 to the Mortgage Loan Activities at Bureau of Real Estate headquarters in Sacramento.
They will correct it and send it back, rather quickly.
You can download the form from the CalBRE.ca.gov web site. If you have any questions, the telephone number for this section is 916-263-8941.
The Form Is Basic And Easy To Complete
Making your advertisement conform to Lending Regulations is not simple.
However, there are six pages of general information and pertinent law sections and regulations attached to the form. So much help and all in one place.
Check it out.
The Audit You Save May Be Your Own
I know that you think this is an oxymoron, but these regulators want to help. It makes their work so much easier, and your life so much more trouble free. I do not care how much you know and how smart you are, writing a perfect ad is not simple as I said before. Save your license, check this form.
See you in our MLO CE 8 Hour LIVE CLASS. LIVE is better.