SCHEDULES

Classes for training of newly hired loan officers are also available at your location. Call 215.541.1643 for further information.

Who Should Attend?

• New Loan Officers
• Loan officers with less than 1 year experience who need a review

A workbook of over 100 pages accompanies the course.

The investment for this course is only $550.  You can normally recover the cost with one loan. You must preregister and prepay to attend.

Call 215.541.1643 if you have any questions and to reserve your seat.

TOPICS COVERED 

• History of the Mortgage Industry
• Terms and Definitions
• Flow of the Mortgage Process
• Using the Financial Calculator
• Reading a Rate Sheet
• Calculating Break Even
• Types of Income
  • Salary
  • Bonus/Overtime
  • Commission
  • Part time
  • Child Support
  • Disability
  • Self Employed, etc.
• Documentation Required
• Evaluating Income
• Private Mortgage Insurance
• Qualifying the Borrower/Front End
• Reduced Income Loans
• Liabilities
• Reading the Credit Report
• Credit Scoring
• Qualifying the Borrower/Back End
• Exercises
• Assets
• Required Documentation
• Good Faith Estimate/Purchase
• Interview Template for Purchases
• Completing the Mortgage Application - Purchase
• Appraisals
• Refinancing
• Impact of HELOs and Second Mortgages
• Subordination Agreements
• Interview Template for Refis
• Good faith Estimate/Refi
• Completing the Mortgage Application - Refi
• Exercises
• Required Disclosures
• Putting It All Together
• Items of Concern (Red Flags)
• Underwriting Findings
• Adjustable Rate Mortgages
• Condos and PUDs
• Ethics
• Federal Regulations
  • RESPA
  • ECOA
  • TIL
  • Fair Credit
  • Privacy Act
• Marketing
• Open Forum

     © 2005-2006 Train for Success

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