Printed books and materials are included and shipped 2-3 day FEDEX to your location.
$295.00
You’ve completed your NMLS training or your about to start your new job at a bank, credit union or savings and laon. Slow down! You might be the greatest salesperson that ever walked the earth, but salesmanship and producing loans that close on time are two very different skills.
If you’re a new banking employee, don’t worry about not taking the NMLS 20 hour pre-licensing training. This training is directed at teaching you how to do your job not about passing tests..
The training manual used is called. “Guidelines For Taking A Detailed Loan Application”. This training covers in detail the skills and procedures loan all originators need to understand before they make their first loan presentation to any borrower
There are at least 8 skill sets you must master before you can take a good loan application.
Successful originators have already learned these skills from years of experience. As a new originator you’ll need to catch up fast.
This training is perfect when combined with on the job daily activites during the first weeks of being hired.
A branch manager who is looking to expand their sales force would prefer to hire someone with 2 or more years’ experience.
The Pro’s
Experience MLO’s already know the ropes and most of the popular loan products. Most importantly, the branch manager
doesn’t have to invest 40 hours or more of their precious sales and marketing time to training a rookie.
The Con’s
There can be issues though when hiring experienced MLO’s. Will they conform to their new managers ways of how to do business?
Will they take shortcuts and do workarounds that could be considered shady but legal?
Will the new experienced MLO bring in a contagious attitude that could spread on to other employees? These types of situations do occur and are reason why some branch managers rather hire rookies with
no bad habits or attitudes.
Your opportunity to shine:
Well, here’s your opportunity to step ahead of everyone else who only passed their national test and thought that was enough to get a job
with the better brokers or lenders.
By completing this course, you just demonstrated your confidence by investing in yourself and your new career.
When hiring decision makers see you’ve gone beyond your minimum mortgage education requirements; your resume just went to their top of the stack; instead of being at the bottom.
No short cuts in this training. No quick over views that only skim over the materials instead of drilling down and seeing all the workings and required documentation.
After completing this course:
You will begin to understand the complexity of how easy it is to make a rookie mistake, But now when your managers tells you how to correct it;
you’ll understand where you made your mistakes, how to correct those mistakes, and WHY the corrections had to be made,
When reading and interpreting someone’s credit report, it’s important to have the knowledge and skills to do so. This training is going to give you the knowledge and the skills.
Loan Originators & Processors
After taking a correct mortgage loan application (1003), the first thing the loan originator and/or processor need to do is to compare it against the person’s credit report. Checking names, residences, opened accounts, tradelines, credit limits, available credit, closed accounts, collections, charge-offs and other information vital to the outcome of the loan’s approval or denial. Sometimes there are errors in a report.
The challenge is to read it carefully every time and understand how to interpret the information correctly.
Reading a credit report for the first time is very intimidating. Lots of pages with data, tables, codes, contact information, addresses, payoffs …the list goes on.
Your instructor Kathy Lewis is going to take all the mystery and confusion away. After completing this course, you’ll have the knowledge and confidence needed to read any credit report accurately.
Believe it or not:
One of the top reasons loans are returned or denied by lenders is the improper calculation of the borrower’s income. Regardless of who’s mortgage software you’re using, your software can’t look at the borrower’s income documentation and apply underwriting rules on what’s acceptable and what’s not. Only competent originators and processors can review the borrower’s income and decide if it’s acceptable or not.
Adding up W-2s is easy – BUT!
How do you correctly calculate weekly, bi-monthly, overtime, commissions and bonuses, especially if they’re showing declining values?
Now that you understand credit and income, you’re ready to learn the important mortgage math and documentation every MLO must know and understand. As a loan originator, you should know how to calculate every computation on the Loan Estimate and Fees Worksheet without the assistance of any mortgage software.
Including:
ABOUT CAPSTONE INSTITUTE
As one of the very first mortgage education centers, Capstone and our instructors have helped set the standard for mortgage education, training and preparation for industry-related exams.
