“The Message that a Continuing Education Course is Giving the Public?”

“The Message that a Continuing Education Course is Giving the Public?”




“You should consider consulting a qualified independent credit counselor or other experienced financial adviser regarding the rate, fees, and provisions of this mortgage loan before you proceed with a mortgage application”


I am almost done with my continuing education courses for 2015, 20 hours’ worth. I wanted to share the above statement as I was floored by it. Here is what the message is for me, they want the public to know that mortgage brokers cannot or should not be trusted.


I can definitely understand a second opinion from a doctor depending upon the seriousness of the medical issue. If it was a heart issue would you go to a podiatrist or internist? Of course you wouldn’t.


What doesn’t make any sense is that when it comes to a mortgage, getting a second opinion from a credit counselor or financial planner makes little sense in most situations. It is so hard to understand and credit counselors and financial planners are constantly referring their clients to me. That is not to say that I don’t consult with a financial planner if there is that kind of question.


How would you have interpreted this message?


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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com



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Comment balloon 28 commentsJoe Petrowsky • November 30 2015 01:20PM


Joe.  I don't know what to make of this statement from your continuing ed course.  So, I'm going to get a second opinion.  

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) about 4 years ago

Good morning Joe. Not sure what to make of it. I am going to consult my podiatrist. Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) about 4 years ago

Yes, that paragraph is rather insulting and not sure how non experts (who are not taking CE) would be qualified to give good advice here.

Posted by Women of Westchester Working Together, Women helping Women get ahead (Women of Westchester Working Together) about 4 years ago

Hi Joe. Do these educators know about Trid?  That would annoy the hell out of me.  I know I would follow up and find out why it's there.

Posted by Conrad Allen, Webster, Ma, Realtor (Re/Max Professional Associates) about 4 years ago

I totally agree with you, Joe, on this issue. Is this a requirement of some sort in your state now? Or is someone trying to drum up fees for their "advice?"

Posted by Nina Hollander, Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor (Coldwell Banker Residential Brokerage ) about 4 years ago

Is this a new requirement ? I have not heard of it in my area.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) about 4 years ago

Good morning Joe.  Just give me the facts and I'll make up my own mind if it is a good deal or not.  

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty) about 4 years ago

Good morning Joe,

It had to be from one of those expert politicians!

That would be like a buyer being told to seek out the Z and T to make sure they are not paying too much for the property!

We want you to spend more money to make sure the Mortgage Broker has given you the correct information.

I like your take on the situation.

Make yourself a great day.

Posted by Raymond E. Camp, Licensed Real Estate Salesperson Greater Rochester (Howard Hanna Real Estate Services) about 4 years ago

Good morning again Joe. I think you are right. The more complicated and involved the process becomes, the more people will fall out od it. Too bad.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) about 4 years ago

Joe: More smoke-and-mirror tactics that do nothing more than bring about more unfounded consumer distrust to our industry.

Posted by Anita Clark, Realtor - Homes for Sale in Warner Robins GA (ColdwellBanker SSK Realtors ~ 478.960.8055) about 4 years ago

Joe Petrowsky I don't think I would sweat it. That "message" is going to be lost in all the noise.

Bill Roberts

Posted by Bill Roberts, "Baby Boomer" Retirement Planner (Brooks and Dunphy Real Estate) about 4 years ago

I think it's one of those statements that gets thrown in by the lawyers to "cover all the bases" in hopes that no on can go back to them and say they weren't properly educated. 

Posted by Nicole Doty - Gilbert Real Estate Expert, Broker/Owner of Zion Realty ZionRealtyAZ.com (Zion Realty) about 4 years ago

Consumers are really misled by this kind of statement. It makes you wonder about the author.

Posted by Roy Kelley (Realty Group Referrals) about 4 years ago

What does this mean? More "no trust" issues I would guess...Arghh!

Posted by Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400, Long Island Home and Condo Specialists (The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803) about 4 years ago

Argh. I too find it odd and confusing. And, you remind me that I need to get my CE hours in before January. I'd best get busy. 

Posted by Debb Janes EcoBroker and Bernie Stea JD, REALTORS® in Clark County, WA (ViewHomes of Clark County - Nature As Neighbors) about 4 years ago

A credit counselor?  Nope!  A financial advisor?  Absolutely.  I have a great relationship with some advisors - they refer business to me, and I refer clients to them so people can see not only what they're saving, but how their mortgage goes along with their retirement and investment planning.  

Posted by John Meussner, #MortgageMadeEasy Walnut Creek, CA 484-680-4852 (Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA,) about 4 years ago

Joe, have not heard that in our continuing education classes.

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (House to Home, Inc. - Denver Real Estate - 720-231-6373) about 4 years ago

That is BS Joe, I would trust my mortgage needs with you 110% and no second opinion needed.

Posted by Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917 (Coldwell Banker) about 4 years ago


This is written by those who want to be part of getting some money off the process.  More ridiculous stuff. A

Posted by Ron and Alexandra Seigel, Luxury Real Estate Branding, Marketing & Strategy (Napa Consultants) about 4 years ago

Joe, it's just continuing education.  In the jurisdictions where I work, it's about as relevant as the pre-licensing course that you take to pass your real estate exam.  I've had some amazing training along the way, but almost none of it was for continuing education credit.

Posted by Patricia Kennedy, Home in the Capital (RLAH Real Estate) about 4 years ago

Joe stuff like this just annoys me that we have politicians who pass laws but do not read or understand the subject or consult those who could give them the answers... like the "unaffordable healthcare" to name one....Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) about 4 years ago

Joe does not sounds like good advice to me, and more of a waste of time than anything else.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) about 4 years ago

I have heard individuals say they should check with their financial planner about whether to pay cash or to get a long term morgtage. In each situation the FP said to get a long term mortgage with minimum downpayment requirements. It didn't sound like the best option to me but then again I am not a mortgage broker or a FP.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) about 4 years ago

It reads like something that was proposed by one of the members of congress that came up with the latest changes as well.

Posted by Ed Silva, Central CT Real Estate Broker Serving all equally (RE/MAX Professionals, CT 203-206-0754 ) about 4 years ago


Much of the regulations are not thought out.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) about 4 years ago

There are good and bad of everything...and still some loan officers who attempt their "magic" without a thorough explanation...hence our preferred list for both buyers and sellers...but I know of no credit counselors who are bet qualified to take any possible smoke away from the lending mirrors.

Posted by Sally K. & David L. Hanson, WI Realtors - Luxury - Divorce (EXP Realty 414-525-0563) about 4 years ago

Well Joe, they do it with every other industry why not lenders??  For me, I always check a number of vendors & my clients do too...with agents they interview a minimum of 3 in my state...it is the lay of the land.  Never want my clients thinking I have some sort of 'rewarding' relationship with any vendor.  My take...

Posted by Ginny Gorman, Homes for Sale in North Kingstown RI and beyond (RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate) about 4 years ago

I don't advise clients on stocks and bonds and I darn sure  don't want any "credit counselors" or "financial advisers" to advise my clients on mortgages Joe Petrowsky 

Posted by DEANNA EARLY - - ( NMLS # 268590 ), Highest Ranked Mortgage Loan Originator Virginia (American National Bank & Trust) about 4 years ago