Description

Capstone Institute Certified Mortgage Graduate 
Loan Originator

 

Capstones’ mortgage training curriculum covers the skills
required to give new Originators ; “Mortgage Competency.”

After completing this training curriculum and testing; the new loan originator has the confidence to continue improving  their knowledge of  mortgage loan products, marketing, handling their borrowers questions, objections and closing their own  loan applications with a minimum of supervision.

Branch managers welcome seeing new applicants who have invested in their own training besides the basic NMLS pre-licensing course.

Please understand the 20 hour pre-licensing  training was never meant to prepare a loan originator to actually go into the field and perform and earn an income. 

Individuals completing this training should definitely include it on their resumes to improve their chances of getting that first most important first interview request.

Branch managers have a limited amount of time to invest in training a new candidates, so make it easier for them to when they see a new resume or application showing the the new person  already invest their time and funds

Regular Tuition = $1,000.00  / Select here √

$1,000.00Add to cart

OR

Payment Option= $1,150.00 / Select here √

The payment plan is a $650.00 initial payment followed by 2 equal monthly payments of $200.00
Total cost = $1,150.00.00

Your manuals and case studies will arrive by FEDEX in 3 to 5 business days.
You will receive email tracking information from FEDEX

$250.00 / month for 2 months with a 30-day free trial and a $575.00 sign-up feeMake Payments

 

Loan Originator CMS Curriculum: 40 Hour Training Cycle

The courses are shown in their sequenced order

1st:   How To Read Credit Reports
2nd:  Correctly Calculating The Borrower’s Income
3rd:   Principles of Mortgage Finance (Complete Conventional Loan Origination  Training )
4th:   Fees Worksheet & Loan Estimate
5th:   Understanding FHA Loans
6th:   Understanding VA Loans

 

Lesson #1   How To Read Credit Reports
Duration: About 2 hours
Includes:  Printed manual with credit file examples and explanations
Support:   Call or email for direct support on any question

View a sample of the first course in our CMS program

Most credit reports are divided into five sections:

* Whose credit is being represented
* How they pay  their bills
* Rollovers
* Public records
* Inquiries

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.

 

Lesson #2: Correctly Calculating The Borrower’s Income

Duration: About 3 hours with testing
Includes:  Printed manual with credit file examples and explanations
Support:   Call or email for direct support on any question

Kathy Lewis’s presentation is easy to follow and is synchronized to your manual with case studies.

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?

Overview of what’s covered:

* 20% Declining Income Rules: When you need to use them
* The allowable differences in combining W-2s vs. 1099’s
* When and how to average different incomes over past years and months
* When and how to average commissions, overtime, bonuses

Lesson #3: Principles of Mortgage Finance / All Types of Conventional Loans

Duration: About 8 hours with testing
Includes:  Printed manual with case examples and explanations
Support:   Call or email for direct support on any question

 

 

Lesson #4: Fees Worksheet & Loan Estimate

Duration: About 4 hours with testing
Includes:  Printed manual with case examples and explanations
Support:   Call or email for direct support on any question

Kathy Lewis takes the mystery out of how the Fees Worksheet and Loan Estimate form work

We covered briefly the Fees Worksheet and Loan Estimate in the preceding class.

Now we’re going to take some extra time and really drill into every line item on both of these forms.  Many loans have been lost because the loan originator didn’t understand fees and how to determine interest rates, and when questioned by their borrowers they couldn’t show how their offer was better compared to their competitors.

If your borrowers share with you your competitor’s offer, you’ll need to know how to show them your offer is really better or how to restructure your offer so it is the best deal.

With Capstone’s training mythology you’ll be able to calculate any part of the Fees Worksheet and new Loan Estimate Form in seconds using your own calculator.  That’s the great thing about Capstone’s training, we teach you how to calculate everything using your own calculator. This means learning any mortgage software is going to be easy because you already know how the numbers work and where they go.

 

 

Lesson #5: Understanding FHA Loans / Origination & Processing

 

 

Duration: About 6 hours with testing
Includes:  Printed manual with case examples and explanations
Support:   Call or email for direct support on any question