CMS – Why Managers should consider our on board training

Complete On Board Training For New Originators

There is also a CMS for Loan Processors 

 

 

First What’s Capstone’s On-Board-Training

Simply put its every skill a new loan originator needs to be exposed to as soon as they begin working.   Our training is design to orientate  new staff into all the skills they’ll be expected to know and master as fast as they can. The great features in our training are the classes are  set up in skill sets.   Learning your first skill prepares you for your second skill and so on. We’ve done all the work and research for you.

We’ve have 33 year of experience constantly updating and perfecting our materials.

“DIY”-  Do it yourself  Versus Capstone Institute On Board Training?

Listed below are topics and comments you’ll need read if you want to developed your own originator training programs.

 

 

 

DIY – Do It Yourself Loan Originator Training or Capstone Institute

First: Get access to the good training materials and set your training time for in the mornings.

You can research and author you own training materials, power point, lesson plans and testing, If you have an education developmental back ground  this task on a full time basis should take you about 4 months.    If you have no background or professional  training experience. I   We advise you find a company or individual to create one for you and continues to get good reviews .  OhGet prepared for a hefty price tag if you vendor it out.

While both options are open, remember and ask yourself this question.  After you have your training materials who’s going to take the responsibility of keeping all the content current and compliant?  Teaching out of date materials , implementing old guidelines

Capstones training programs are constantly being reviewed and update for content and compliance


Train in the morning and incorporating
pertinent war stories?

Everyone is rested including you and you’ll need it. If you haven’t been an instructor before get prepared for being on your feet for 3 or more hours each morning while delivering your information in a concise and informative manner.  As your training progresses you’ll start to see to your peoples eyes wondering and shifting around in there chairs . Now is the time to get out and tell a war story that empathizes the point of your current topic.  Make them laugh  !  If they do’  you can count on them remembering the story and what it pertained to.

 

Establishing And Enforcing Performance Levels

Many companies use our CMS programs to build morale, team spirit, and mortgage competency through out their branches. Some companies  use our CMS  designation to qualify staff  for bonus, rewards and senior employee privileges . New originators properly trained have  higher success rates , take better applications, handle borrower qualifying and document questions correctly and are more likely to stay with your company.

Example of how our CMS program is incorporated into some employee compensation plans and employee hand books.

“All new originators who wish to qualify  for their first initial review bonus must show completion of their CMS program within 30  days of their hiring date. Individuals must forward their completion certificate to their immediate supervisor 15 days prior to their first review date.  Any employee not completing their training  within their first 30 days of employment must notify their supervisor immediately and what actions they are taking to correct this deficiency”.

 

 

Second: Recruitment Training Of New Candidates

As the broker or branch manager you should always try to plan your recruiting in advance and  get at least 3 or more new candidates per training event. Hiring only one at a time is very inefficient and an investment risk on your part.  From industry feed back if you train 4 candidates; plan on only 2 being  with you after a year and sometimes only one.  

We recommend starting your training  cycle in the first 2 weeks of the month. Why in  the first 2 weeks? Because towards the end of the month your time is better spent insuring your  pipeline closes on time. Typically your distractions are fewer in the beginning of the month versus towards the end.

Capstone On demand training is available all the time including evenings.  First 2 weeks or last 2 weeks its all the same to us and less stress for you.

 

Mortgage Prophecy:  If a loan file has a problem it will always come to your attention 3 days before closing.

 

Third: Get access to the good training materials and set your training time for in the mornings.

You can research and author you own training materials, power point, lesson plans and testing or hire someone who has already developed a mortgage training program and got good reviews .  OhGet prepared for a hefty price tag if you vendor it out. While both are viable options , remember and ask yourself this question; after you have your training materials who’s going to take the responsibility of keeping all the content current and compliant?  The CFPB is constantly making changes and loan programs come and go all the time.

Capstones training programs are constantly being reviewed and update for content and compliance


Train in the morning and incorporating
pertinent war stories?

Everyone is rested including you and you’ll need it. If you haven’t been an instructor before get prepared for being on your feet for 3 or more hours each morning while delivering your information in a concise and informative manner.  As your training progresses you’ll start to see to your peoples eyes wondering and shifting around in there chairs . Now is the time to get out and tell a war story that empathizes the point of your current topic.  Make them laugh  !  If they do’  you can count on them remembering the story and what it pertained to.

 

We recommend using the first 2 weeks of  the month for your training cycle and  set aside the entire morning to be with your new candidates.  Start your classes at least 1/2  hour before your office opens.  By starting early you’ll be able to  check back with your yesterdays notes and prepare your power point presentation.   This also is going to give you an incite on who’s going to have a problem getting top work on time wontg Stay away from your back office; which means no phone calls , texting or  answering e-mails. The best time to conduct your training is in the morning from 8:30 to 12:30 . Remember to schedule breaks into your training every 1.5 to 2 hours. Not only for your new staff but so you can duck back  into the office and see if there’s everything is flowing smoothly.

 

 

Remember when you first started out?  Did you go through a formalized training program? Or did you go through a quick week or so  in the office  and get a morning class on this or that  and then visit with the loan processor who showed how they wanted your files turned in? After that they gave you some loan files to input and practice with so you’d know how to do yours without mistakes.

Honestly – how well did that work?  Could you have had better training and been more effective?

That dated sale training scenario  system could work back in 1990’s to 2006,  when there were lots of homes available and practically anyone could get a mortgage as long as they were breathing.   Those days and loan programs are gone.

In today’s mortgage industry, managers have to compete with large  internet lenders with their calls centers, plus hundreds of new lenders and brokers getting back into the industry.  While the future for residential is projected to be good there’s still 2 major problem all brokers and lenders are having.   Not enough experienced originators or processors

Everyone is trying to recruit their competitor’s staffs

Well good luck with that. Why ?  Its expensive and not always effective.  Offering sign on bonuses with special enticements doesn’t mean your hiring competent originators and many times your just hiring someone else problems for the sake of a few more loans per month and more head aches.  Then why does everyone continue to do it?

Because active Brokers don’t have the time to do their own training every month and its a gamble hiring new staff. There’s no guaranty the new originator will make it! 

 

 

The skills required immediately are:

How To Read Credit Reports:

Reading credit reports and understanding  how to interpret them correctly is a skill many professional take for granted. Many a loan has been stopped in error or stalled during underwriting because some missed or didn’t read the borrowers public information correctly.   If you’re just going  rely on the published credit score your going lose aot of time and business.

 

Many companies use our CMS programs to build morale, team spirit, and mortgage competency through out their branches. Some companies  use our CMS  designation to qualify staff  for bonus, rewards and senior employee privileges . New originators properly trained have  higher success rates , take better applications, handle borrower qualifying and document questions correctly and are more likely to stay with your company.

Example of how our CMS program is incorporated into some employee compensation plans and employee hand books.

“All new originators who wish to qualify  for their first initial review bonus must show completion of their CMS program within 30  days of their hiring date. Individuals must forward their completion certificate to their immediate supervisor 15 days prior to their first review date.  Any employee not completing their training  within their first 30 days of employment must notify their supervisor immediately and what actions they are taking to correct this deficiency”.