VanEd Newslog

Year end Colorado Mortgage Brokers education & examination update

As 2009 turns into 2010, those seeking a Mortgage Loan Originators license in Colorado will face some unique challenges. Here is what we know (disclaimer: information below is based on our best and most current information and may be updated at any time)

Examinations: PSI has stopped offering the state exam for the Mortgage Broker License for 2009.   A new testing company will be taking over in 2010 and offering the state exam under the new NMLS requirements.  For any students having completed the course, or for those who have previously failed the exam and need to retake it, we have been told that you will have the opportunity to take the new exam, and we will post information on registration as soon as it is available. 

For those who failed the state portion of the exam, that test should be available through the NMLS beginning in February. For those who previously passed the Colorado and National exams and are currently licensed in Colorado, you will be required to pass the Federal portion of the S.A.F.E. Mortgage Loan Originator Exam in the first half of 2010. You are also required to register with the NMLS&R beginning in January.

VanEd will post the registration and examination information on Monday, January 4th, 2010.

Education: Students who failed to complete the Colorado Mortgage Broker courses are subject to new education requirements as of January 1st, 2010. Currently no coursework from any education provider has been approved in Colorado that meets the new 2010 requirements for a Colorado Mortgage Loan Origination License. We will post information on the coursework as soon as it is available. At this time we expect that there will be no coursework available until at least March.  

If you would like to stay up to date on all of the changing information, or be notified as soon as the registration information is available, you may subscribe to the VanEd NewsLog using the link to your left, or follow us on Twitter. If you have questions about your specific situation, please send them via email to info@vaned.com.  

For those seeking to work as an MLO in Colorado who have either not yet completed or started the education and examination process, we recommend applying for a temporary license using the Temporary Mortgage Loan Originator Application available from the DRE. Temporary licenses will allow you to work as an MLO in Colorado for a period of up to 120 days.

(Follow VanEd on Twitter to stay on top of current information and receive special discounts and promotions on all of our new courses - perhaps even on the new "RESPA: Keeping Current" course or this weeks discount offer on Colorado Real Estate Licensing education!)

Building Green courses available online and in the classroom

With universal concern about global warming and ever-rising energy costs, the time is right to build energy efficient, eco-friendly homes.  Discover the practical benefits of going green and what it means to builders, buyers and sellers alike.

Our popular online Building Green courses have been updated and approved for CE credit in Colorado and Nebraska, and MCE Credit in Texas:  Building Green: The High Performance Home for 4 hours of credit and Building Green: Marketing the High Performance Home for 3 hours of credit are available anytime online at VanEd.

For those in Boulder, our live Building Green Homes in Boulder course is the perfect fit. Click Here to learn more about this live presentation with Instructor Scott Rodwin. You can also view our available live classroom list online by clicking here.

VanEd Presents RESPA: Keeping Current

Real Estate Settlement Procedures Act (RESPA) reforms go into effect January 1, 2010 and it is critical that you familiarize yourself with the new forms and regulations. Forms designed primarily to help consumers become more informed about settlement services will go into effect on that date, and lenders and title agencies must use the new Good Faith Estimate (GFE) and HUD-1 Settlement Statement. It is important to note that lenders can begin using the new Good Faith Estimate (GFE) at any time.

In order to ensure your transactions go smoothly, you should find out all you can now about the new HUD-1 and the new GFE forms. VanEd's "RESPA: Keeping Current" course covers the new Good Faith Estimate and HUD-1 that are mandatory beginning January 1, 2010. This course is available now by clicking here.  

You can also read the RESPA FAQ from HUD here -- http://www.hudlite.com/HUD_respa_FAQ_2010.pdf

(Follow VanEd on Twitter and receive special discounts and promotions on all of our new courses - perhaps even on the new "RESPA: Keeping Current" course!)

VanEd Presents: Building Green ~ Catch the Green Wave!

Catch the GREEN WAVE!  Our popular Building Green courses have been updated and approved for CE credit in Colorado and Nebraska, and MCE Credit in Texas:  Building Green: The High Performance Home for 4 hours of credit and Building Green: Marketing the High Performance Home for 3 hours of credit are available anytime online at VanEd.

With universal concern about global warming and ever-rising energy costs, the time is right to build energy efficient, eco-friendly homes.  Discover the practical benefits of going green and what it means to builders, buyers and sellers alike. 

CLICK HERE to login to your VanEd account and enroll today!

If you have questions about your education requirements or any of our courses, please feel free to contact us, info@vaned.com. 

Colorado DRE issues alert regarding phishing scam

On Wednesday November 25th the Division of Real Estate issued an alert on a phishing scam taking place in Colorado. We have included that alert below;

ALERT: Phishing Scam

 

To: Colorado Real Estate Licensees    From: The Colorado Division of Real Estate

 

Date: 11/25/2009   Subject: Phishing Scam

 

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The Division of Real Estate has received a report from several licensees of a phone call s/he received. The caller indicated that they were with the Division of Real Estate and proceeded to tell the licensee that they needed to renew their license and that they would be happy to take payment over the phone for renewal. In another instance, the licensee was told that their address was incorrect in our database and they were asked to pay a fine and threatened with suspension if they did not pay a fee over the phone. In both cases, the amount asked for was $23 dollars. 

 

Please be advised that the Division of Real Estate will never ask for your credit card information over the phone, nor do we accept any payment over the phone. If you receive a suspicious phone call from someone claiming to be from the Division of Real Estate, please ask for their name and call our main customer service line at (303) 894-2166 and ask for the name given to you over the phone.

Colorado DRE sets fees for real estate, appraisal licensees and applicants

The Colorado Division of Real Estate this week announced that many licensing fees for real estate brokers would be reduced in 2010. The new fees can be found online;

http://www.dora.state.co.us/real-estate/licensing/fees.htm

Fee setting was completed and the new fee structure will take effect on November 15th, 2009. The DRE raised all fees in 2008 including new application fees and renewal fees. The Examination fee for those taking the state exam remains at $71.

Appraisal license fees were also set and can be found online at http://www.dora.state.co.us/real-estate/licensing/appraiser/apprfees.htm.

VanEd Presents: Understanding Sustainability

VanEd is proud to offer the Planning Institute course; Understanding Sustainability. This course is a survey of sustainability, global climate change, and efforts on an international, national, and personal level that can effect the change necessary to become more sustainable. It will give the student the information necessary to discuss the general topic, and to evaluate new information about global climate change and what can be done about it as that information comes along over the next few years.

The approach of the course is to look at the antecedents of sustainability, some of the key terms, national and local policies, alternative energy sources, and individual efforts that lead to a more sustainable lifestyle.

This course qualifies for real estate continuing education in Colorado - Click Here to learn more!

Affiliate Spotlight: $2 Million in Commissions Paid and Growing!

Entrust New Direction reports that over $2 Million in commissions have been paid to real estate professionals who know about self-directed retirement plans have been brokering deals involving IRAs purchasing or selling real estate for their clients. Entrust New Direction has overseen over 900 real estate transactions for clients. Self-directed plan administrators like Entrust New Direction are not allowed to give investment advice, make recommendations, or sell any products.

“Being a marketing person, our limitations put me in an awkward spot at times. Potential clients call, are excited, and want to know how to find that first piece of real estate for their IRA. I can’t help them with that. That’s why we spend so much time building relationships with professionals who can,” offers Marketing Coordinator, Amy Sheflin.

“The key for professionals is just letting clients know that they can make these investments and then following up with listings of available investment properties. Knowing how to analyze the investments for the client’s retirement plan is key. This education can be a cornerstone to building sales and catering to investor clients.”

Many professionals are just starting to realize what this growing market of investors could mean for their business. Entrust New Direction continues to try to reach these professionals through continuing education and other events in the metro area and teach them how to use the tool to build sales. Entrust offers education both online and in their on-site classroom and has several events planned for this fall. For a full list of upcoming events, visit www.NewDirectionIRA.com.

Agents and brokers can take the MRE approved course online through Van Education - register online at http://www.vaned.com. Entrust New Direction will also be the featured course author in VanEd's booth at the Colorado Association of Realtors convention in Colorado Springs from 11:30am - 2:00pm at the Broadmoor on Monday, October 19^th. Stop by the VanEd booth to say hello!

Two follow-up classes are planned after this event and qualify for 2 hours of Continuing Education credit. The Introduction to the Real Estate IRA offers an overview of how it all works and how professionals can incorporate self-directed investment tools into their business to help sell properties. It will be offered on October 28^th from 8:30am – 10:30am and again on November 12^th again from 8:30am – 10:30am. Both classes will be held in Entrust New Direction’s classroom, registration is available online by clicking here.

Guest Authors Bill Humphrey and Catherine Wynne are Principals with Entrust New Direction IRA. Reach them online at www.newdirectionira.com.

Q&A with Jennifer Allan - Do I really have to do an open house?

We asked author Jennifer Allan to answer questions based on her teaching and experience in the real estate industry. Jennifer is also a regular contributor to Realty Times and RE/MAX Times.

Question: "Everyone knows that open houses aren't likely to sell the house. Do I really have to do one?"

JA: I think so, sorry. For many reasons, not the least of which is that your seller expects you to and any attempt you make to talk him out of it will make you appear, um, lazy. Even if the seller agrees to your face that open houses are a waste of time, inside he's wondering if you're really as committed to getting his house sold as you say you are. Open houses are one of the most visible things we do as real estate agents and a very easy way to keep a seller happy. Conversely, refusing to do one is a very easy way to make a seller UNhappy!

Here are three other reasons to hold your listing open, at least once:

1. You can gather feedback from the public to share with your seller,
2. You'll become more familiar with your listing and might notice features (or challenges) you didn't see before,
3. You might sell the house. You never know - but it's not as if you holding an open house will HURT your chances of getting it sold!

So, yeah, I think you oughta do it. What's the worst thing that could happen?

Jennifer will be presenting "Selling to your Sphere of Influence" next week at the CAR Convention. Click here for information.

Guest Author Jennifer Allan has authored five books and multiple courses designed to teach agents her Sell with Soul philosophy that centers on four interrelated principles: Respect, Competence, Confidence and Enthusiasm.  The latest release of her book Sell with Soul is available in the VanEd bookstore. You can also visit her online at www.sellwithsoul.com.  

CAR convention and expo - REALTOR® World - October 19th - 20th

Scheduled for October 18th - 20th, 2009 at the Broadmoor Hotel in Colorado Springs, the annual CAR convention and expo - REALTOR® World - includes FREE registration to both the CREC Annual update course and a New Colorado Contracts course. The two-day exhibit hall and more than 35 education sessions highlight the annual conference (pre-registration is a must!).

Attendees will also have a chance to win the $1000 grand prize sponsored by Metro Brokers at the Exhibit Hall Oktoberfest on Monday night! The annual association business meetings will follow the conference and expo on October 21st and 22nd.

VanEd is proud to be an exhibitor at this years CAR Conference and Expo, so make sure to stop by and see us! There are also affordable hotel options available. Check them out by clicking here, and we'll see you there!

Click Here to view the entire REALTOR® World Schedule - or Click Here to register online!