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The Basics of CRMLA – Useful Information for Real Estate Buyers

It’s advisable for buyers of Rancho Santa Fe homes for sale to know everything they can that is related to real estate, including the laws that govern buyers, sellers, and even mortgage lenders. It’s essential to know these things to prevent any issues from happening during the home buying process.

Aside from the California Finance Lenders Law and the Real Estate Law, a law was enacted as an option to these laws that license lenders: the California Residential Mortgage Lending Act (CRMLA).

The CRMLA was passed in 1994 and started operating in 1996. It was enacted to give a licensing law to mortgage bankers that is purposely created to control their main tasks of originating and servicing mortgage loans. It is specially intended to regulate and authorize activities concerning mortgage banking, unlike the California Finance Lenders Law and the Real Estate Law.

Applicants of this act may acquire a license as a servicer, a lender, or even both. If approved, these licensees are authorized by the CRMLA to do the following:

- Make mortgage loans that are federally related

- Make loans to fund home construction

- Sell loans to investors

- Service loans

- Buy and sell loans that are federally related

- Give institutional lenders contract underwriting services

- Service any mortgage loans that are federally related not considering whether the loan is made or a servicing portfolio is purchased

- Give brokerage services to borrowers by means of trying to acquire a loan from another lender on their behalf

As required by the CRMLA, any individual who is in the business of servicing or making residential loans within Rancho Santa Fe and California must be licensed under the Act; however, there are some entities that are exempted from these licensing requirements. These include the following:

- Federal credit unions, federal savings bank, federally chartered loan and savings associations;

- Industrial loan companies, insurance companies, trust companies, banks;

- Individuals engaged exclusively in agricultural, commercial, or business mortgage lending;

- Credit unions, savings banks, and savings and loan associations that are authorized to do business in California;

- Municipal, state, and federal governments;

- Completely owned service corporations of savings banks or savings and loan associations;

- Individuals who act in a fiduciary capacity granted by a court’s authority;

- Pension plans that make residential loans to their members;

- Finance lenders in California;

- Licensed brokers in California; and

- Trustees in foreclosure procedures.

Licensed mortgage bankers under the CRMLA may be any one of the following:

- A person

- A sole proprietorship

- A corporation

- A partnership

- A limited liability company

- An association

- A trust

- A joint venture

- An unincorporated organization

- A joint stock company

- A government

- A government’s political subdivision; or

- Any other entity

Here are the requirements for applicants to acquire a license:

- Approval as a lender and/or a servicer from any of the following: the Federal Home Loan Mortgage Corporation, Federal National Mortgage Association, Government National Mortgage Association, Farmers Home Administration, Veterans Administration, or Federal Housing Administration

- Audited financial reports that show actual net worth of a minimum of $250,000

Starting A Home-Based Business – The Tools For Guaranteed Success

Thousands of enthusiastic people are starting home-based businesses every single day, but 99% of those people will lose their motivation and eventually give up, assuming there really is no way to earn a full-time income from the comfort of their own homes. This is an unfortunate situation, but it is not really a surprising one, as nobody really takes the time to learn the real requirements that are needed to achieve success with a home-based business.

If you do in fact have a strong desire to start a business from home and work online towards earning a healthy income, then it can be done, but without the right tools to get the job done right, you cannot achieve any sort of real success. There are thousands of “opportunities” out there that promise big income with all of their “tools” and their “support”, but the truth is nothing really works quite like you hoped for, and the reason is simply because nobody will come out and tell you exactly how its done, until now.

If you want to build a real business and work it from home, you only need to focus on four pillars for success, they include:

1 – Product creation

2 – Traffic Building

3 – List Building

4 – Relationship Building

Let’s take a closer look at each of these pillars and you will then be empowered with everything you need to build a successful home-based business.

1 – Product Creation

If you want to make the most money possible, the plain truth is that you must create your own products. A great way to create in-demand products is to create what are known as “information products”. Find a niche with plenty of hungry buyers and write ebooks, create video courses, and build consulting programs that you can sell for lots of money. Trust me, people are paying big bucks for high quality information and help with their problems.

2 – Traffic Building

The bottom line is that you have to drive lots of quality traffic to your online business if you want to make money. This is where many people fall short, simply because they don’t know how to do it or they don’t know what to do for results. There are many great ways to drive very targeted leads to your business, article marketing being one of the best ways.

3 – List Building

A list is like a diary of your customers and those who have shown interest in your business, and if you want to make big money, you have to build a list from day one. There are many great ways to build a relatively big list in little time, so find the top ways to drive that traffic and you are well on your way to success.

4 – Relationship Building

In order to achieve success, you have to build relationships with those who are on your list. Luckily, there are some services called ‘autoresponders’ that will send out emails to everyone on your list in an automated fashion. This is truly a necessary tool in making your business as hands-free as possible and ultimately getting as much business as possible.

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Effective Marketing Strategies in Product Creation

Marketing includes matters such as pricing and packaging of the product and creation of demand by advertising and sales campaigns. There are other options, of course, like product creation, resale rights marketing, joint ventures and the likes, but they are merely secondary to the above.

If you take the freelance route, it is important to ensure that all rights to profit from the final product, or any materials produced in its making, remain yours. Bookkeeping, physical product creation or delivery of goods can be done better with specialized help. Determining the purpose of the product is vital in niche product creation.

Implementation of Methodology – The choice of implementation of Six Sigma methodology depends on whether development is required on existing processes (DMAIC) or on new process/product design creation (DMADV). Determining what you really want to sell, something that you can be relaxed selling is the first step at the creation of a niche product. With the technological advancements in the hosting industry, from automated control panels and scripts that simplify creation of accounts; to complete turnkey solutions, there is no excessive need to worry about spending time on the actual product sold to the customer.

For instance, you should be prepared to either perform yourself or to subcontract the completion of the following tasks:- Product idea research (are there any existing products or patents already existing for this idea)- Product specification document training (what it will do, how it will look, how will it be powered, and how the user will interface with it)- Marketing study (what it will be named, who would buy this, how much would they pay, how will we get customers to purchase the product)- Schematic or electronic circuit design process- Creation of a bill of material or BOM and an approved vendor’s list or AVL for each component in the design, preferably with multiple sources identified, with a BOM and AVL for each assembly level in the product- Printed circuit board layout design process (single sided board, double sided board, or multilayer board; size of the PCB; board material)- Mechanical packaging design with user interfaces (displays, buttons, switches, key. This removes all product creation costs from your budget as a marketer.

No other database of affiliate programs offers such a possibility for profit on either the affiliate side or the product creation site. Your chosen niche should allow for the creation of more than one product or service.

There are several marketing strategies that are necessary in the creation of a successful e-commerce web site – Email marketing (broadcasting) of prospects/customers – Effective use of auto responders (generate automatic email messages) – Online Newsletter – Online Form / Survey to capture your prospect’s email address – Electronic Product Delivery (if you sold a digital product) – Advertisement (Ad) Tracking – Back End Sales – Affiliate program etc.

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