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Klotsch Exchange recipes, talk about movies, comment on Jessica Simpson or anything you want. Just do it here instead of ruining someone else's football-related topic.

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Old 02-06-2013, 08:16 AM
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Slappy from New Haven Slappy from New Haven is offline
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Default Any one ever have to get federally certified?

I decided for a career change a couple months ago and become a mortgage loan originator since the dust has settled and I am know licensed in NC, SC and LA here is what I had to do.

FBI Fingerprint and background check
IRS background check
Credit score check
Prove general financial solvency
Federal education course requirement
Pass Federal certification test
Pay roughly $500.00 on testing and class fees

And for each state,

Do it again three times.

Anyone ever have to be federally certified and what did you have to do?
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Old 02-06-2013, 10:43 AM
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Default Re: Any one ever have to get federally certified?

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Originally Posted by NC Bengal Mike View Post
I decided for a career change a couple months ago and become a mortgage loan originator since the dust has settled and I am know licensed in NC, SC and LA here is what I had to do.

FBI Fingerprint and background check
IRS background check
Credit score check
Prove general financial solvency
Federal education course requirement
Pass Federal certification test
Pay roughly $500.00 on testing and class fees

And for each state,

Do it again three times.

Anyone ever have to be federally certified and what did you have to do?
I haven't, but did you have to obtain a degree for that career path? or just decided you wanted to do it?
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Old 02-06-2013, 11:24 AM
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Default Re: Any one ever have to get federally certified?

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Originally Posted by NC Bengal Mike View Post

And for each state,

Do it again three times.

Anyone ever have to be federally certified and what did you have to do?
Years ago I got my Series 7 (Federal) and then also a something like a Series 63 for the State of Tennessee.

I also got licensed to practice in Federal Court, but there was really nothing to that. All I had to do was have a lawyer that was already licensed for Federal Court to nominate me or something liek that. Then I went infront of a Federal Judge and took an oath. The only reason I did it was so that I could appear in Bankruptcy Court. I would NEVER want to get involved with a criminal case in Federal Court. That **** is crazy complicated. IN fact the day that I took the oath in Federal Court there were stacks of boxes all along the walls. I asked someone if they were using the courtroom for storage and they said "No, that is just the evidence in a bank fraud case".
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Old 02-06-2013, 01:31 PM
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Default Re: Any one ever have to get federally certified?

If I told you, I would have to make you disappear.
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Old 02-07-2013, 08:05 AM
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Default Re: Any one ever have to get federally certified?

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I haven't, but did you have to obtain a degree for that career path? or just decided you wanted to do it?
I did not have a degree but you have to go to Federal and State classes (or webinars) to meet the requirements. It's just something I wanted to do.

Right now home occupancy is the lowest in 50 years and bankruptcies from 2007 and 2008 are now coming off FHA and Fannie mae exclusion, new home construction is ticking upward.

The mortgage industry will be strong for a number of years.
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Old 02-07-2013, 08:19 AM
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Default Re: Any one ever have to get federally certified?

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Originally Posted by NC Bengal Mike View Post
I did not have a degree but you have to go to Federal and State classes (or webinars) to meet the requirements. It's just something I wanted to do.

Right now home occupancy is the lowest in 50 years and bankruptcies from 2007 and 2008 are now coming off FHA and Fannie mae exclusion, new home construction is ticking upward.

The mortgage industry will be strong for a number of years.

Good for you, Mike. A lot of people say that the best time to get into a given field, is when it's at a low point of activity.

Seemed to work for me, as well. I completed my degree in Surveying Technology in December, got a job with a good firm the second week of Jan. Property is most definitely changing hands again, as I have also recieved calls from 8 other companies that I applied to, in the weeks since accepting my current job.
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Old 02-07-2013, 09:52 PM
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Default Re: Any one ever have to get federally certified?

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Good for you, Mike. A lot of people say that the best time to get into a given field, is when it's at a low point of activity.

Seemed to work for me, as well. I completed my degree in Surveying Technology in December, got a job with a good firm the second week of Jan. Property is most definitely changing hands again, as I have also recieved calls from 8 other companies that I applied to, in the weeks since accepting my current job.
Good for you! we keep surveyors busy these days. a lot of people have out buildings and acreage attached
Most times because it is farm land with a Schedule F farm loss to get better tax returns they don't qualify. So we send the surveyor out, re parcel the land so the house is on a small lot and BOOM we don 't have to consider the farm loss as a whole.

So stay busy............
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