I teach CE with Texas Realtors

Join me for a class I teach on Zoom (or In-Person) at MetroTex, CCAR, or the Austin Board of Realtors. We have 5 finance-related Continuing Education classes available in 2024. Come take a class so that you can give your clients the most up-to-date info on what’s changing in the mortgage industry. Join my private group on Facebook for agents….to get updates on my next CE classes being offered.

Realtors Beware: there is no Competency requirement for Loan Officers in Texas.

Texas regulates Mortgage Loan Officers under the Department of Savings and Mortgage Lending. However, the State of Texas does not enforce Competency standards for Loan Officers. Loan Officers only complete 23 hours of classroom study to obtain their originations license. It is legal for a Loan Officer to issue a Pre-Approval Letter that was not competently prepared and cause harm to your home buyer that they cannot seek compensation for. That is why you, the Realtor, must know that your buyer is in good hands.

Make sure that your buyer’s Pre-Approval Letter was done correctly, according to Fannie Mae, Freddie Mac, HUD standards for FHA, and Veterans Affairs for VA. Ask a Loan Officer to always tell you and your buyer what Underwriting Guidelines apply, especially for complex buyer finances (self-employed, multiple REO, foreign national, relocation, etc). We have no Loan Officers on staff. 100% of our Pre-Approvals have the owner’s name on them. We spend 50-100 hours with each client and we’re only paid at closing. We do not spend that much time with a client to not get paid.

TREC does not strictly enforce the requirements of Real Estate Instructors teaching on mortgage topics. Every CE school has different standards. Make sure that you are getting the right info that is up to date by getting CE instruction only from professionals actively involved in the mortgage lending profession. Not all teachers are also doers. It matters who teaches your class!