Capstones’ mortgage training curriculum covers the skills required to give new Originators ; “Mortgage Competency.”
$795.00
The Certified Graduate training and the Guidelines For Taking A Detailed Loan Application are similar but the Certifed Graduate includes training on the origination and processing of FHA and VA loans. Thats why the Guidelines course has a lower price discount.
The difference is the “Capstone Certifide Graduate” course includes an additional 11 hours of detailed FHA and VA Loans training.
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:
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.
There’s no such thing in the real world as FHA 101 or beginner FHA or basic or advanced FHA. You either know the FHA rules, guidelines, policies and procedures or you don’t. Capstone Institute and Kathy Lewis have been instructing FHA loan originators and processors since 1986. We don’t teach theory or divide FHA loans into modules like FHA Part 1 and FHA Part 2 to charge a higher tuition.
Nor do we cut our training time and content into separate training for originators and another for processors because we believe everyone needs to understand the complete process from origination to closing.
No shortcuts with our training. Your online video program is synchronized to your FHA manual, handouts and case studies and covers everything you or your department needs to master to properly counsel your borrowers and to close your FHA loans on time.
US Department of HUD:
US Department of HUD:
Our Veterans have served our nation in the highest traditions and they deserve the best information available to them regarding their home purchasing rights and benefits under the GI Bill. The VA acts as the guarantor on the loan, protecting the lender in case of a default just like FHA does for civilians.
Kathy Lewis your instructor makes learning the rules and complexity of VA documentation and guidelines easy, and we strongly advise both originators and processors participate in this training.
Some of the areas covered
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
$795.00
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.
