Mortgage Talking Points

A provision in the National Licensing Law and Registry required a “consumer” link so they can check to make sure a mortgage company, loan officer, etc are licensed (or had their license revoked).  The website has just been launched and here’s the link:

http://www.nmlsconsumeraccess.org/Home.aspx/MainSearch

Check it out and see if you have been listed yet .

The 49 page consumer booklet has just been released on HUD’s site.  You’ll need to start using it on Jan 1, 2010. 

 It’s the best I’ve seen–and recommend that you use as YOUR tool to explain the process to your clients.  Suggest you start on Page 11, called “Your GFE Step-By-Step”.  Hold a sales meeting with Real Estate Agents and review the booklet with them as they will be getting questions about it too.  (Pages 4-8 apply to them)

On the same page link, you’ll also find a 29 page ”power point presentation” by HUD called ” RESPA Training - Dec 2009″  No audio but suggest you print and review. 

http://www.hud.gov/offices/hsg/ramh/res/respa_hm.cfm