I won’t exactly come across as a visionary if I point out the real estate has been in the slumps for the past few years. By the way, just in case you missed it, water is wet. Now that I’m done stating the obvious, it’s time to start digging through some of the recent numbers that the National Association of Realtors (NAR) has been kicking out regarding the future of our industry. What they mean to the industry is sometimes not that obvious.
As a mortgage or real estate professional, hopefully by now you’re familiar with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act). This act establishes nationwide requirements for the licensing and registration of all Mortgage Loan Originators (MLOs). Although states determine the timeframe for completing the SAFE requirements, there are guidelines that need to be met by all MLO professionals in a timely manner. If you are involved in any MLO activities, this means that you need to fulfill specific requirements.
1. They have no estate plan at all. This is the worst mistake that Americans make and it is the most common mistake of all. It can also be the most expensive and lead to the worst results.