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.
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:
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.
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.
