Principles of Mortgage Finance

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Return To Loan Originator Training Programs

 

Learning your new job as an originator can be challenging, especially when the boss needs you producing loans and not asking a lot questions that everyone else already knows because they have 1 or 2 years experience.

Everyone sometimes forget they were once new too!  Maybe you’ve a little real estate experience or you just completed your NMLS pre licensing class; but now you need to learn how to perform your job as a professional loan originator.

With over thirty years of mortgage training experience, Kathy Lewis the Founder of Capstone Institute created her famous training program titled; “Principles of Mortgage Finance”.

Bigger and better than ever after originally being copyrighted in 1986, Kathy has broken down every job skill a loan originator needs to understand and master to be effective and prosperous.  Most loans don’t die at signing, they die in loan processing or underwriting because the loan originator wasn’t paying attention to details.  Details is the key word here and Kathy doesn’t miss any in this training.

Your Instructor:

Kathy Lewis
Founder & President of Capstone Institute
America’s first mortgage training school, established in 1986

 

Type of Instruction:  Online self paced,  video training with narrated powerpoint presentation.
Your online presentation , training technical manual and case studies are fully synchronized.

You and Kathy are always on the same page. Kathy guarantees it.

Course includes:

* Printed training manual
* Printed case study exercises to strengthen your skills
* 7/24 online access for 90 days

If you ever need to ask a question during or after your training just call 888-254-3431 or send your questions to: kathyl@capinst.com or garryt@capinst.com

 

DESIGNED FOR NEW ORIGINATORS WITHOUT PREVIOUS EXPERIENCE

Essential Training For All Conforming Loan Originators

In the mortgage industry your training never ends; its continuous because our industry is ever changing. Legislative and loan program changes are continuous. One month you can do this and the next month you can’t

Whether you’re planning on working for a bank or a lender or a broker your initial training is going to make the difference in your level of success.

This 12 hour online, self paced video training with testing covers all the essential subjects and topics you’ll need to master within your first 90 days of employment.

If you’ve completed your SAFE Act pre-licensing testing you can now get excited because now you’re going to learn how to do your job and how to do it the right way.

If you’re a Bank employee you’re also in for a treat because after this training you’ll be equal in mortgage knowledge than those who’ve had to take the NMLS training.

Includes:

Technical manual with case studies that guide you through how to effectively perform your duties and responsibilities as a mortgage loan originator. How to calculate any required mortgage formula without using any mortgage software.

Full instructor support during and after training.

WHAT THIS TRAINING COVERS

Principles of Mortgage Finance

Open Your Principles Manual For Conventional Loan Origination

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.

That’s right ! This training will instruct you on how to calculate all the numbers with a basic financial calculator.

Including:
Explanation of Mortgage Programs
Federal Regulations and Compliance Overview
Calculating PITI By Hand
Reviewing the Credit Report
Qualifying Ratios
Reviewing the Credit Report
Explanation of Prepaid Finance Charges (PFCs)
Preparing a Fees Worksheet
Preparing Loan Estimate
Prepaid Escrow & Taxes
Calculating PITI By Hand
Taking a Detailed Loan Application
Acceptable Income and Assets
Required Documentation
Refinance Transactions

A REVERSE MORTGAGE IS NOT
PAID OUT IN REVERSE

Lesson 2: Terms and Definitions

Knowing and understanding your mortgage terms and definitions is as important as know how to calculate a loan payment.

This section is a self studying section without narration and soon will have its own testing section.

From acceleration clauses and add on interest to waiver of lien and warranty deeds you’ll have the information to understand what subject ,conditions and limitations your borrower’s loan will have to meet.

LOANS FAILING COMPLIANCE NEVER CLOSE

Lesson 3: Detailed Review of Federal Regulations & Compliance

Under our new system of mortgage regulations; meant to protect our consumers; you’ll find a maze of overlapping regulations and requirements.

This section will assist loan originators in clearly showing you:

* What your responsibilities are
* When you must comply
* How to stay in compliance.

FANNIE MAE – FREDDIE MAC – GINNIE MAE, FIXED RATE AND NON-TRADITIONAL LOAN TYPES.

Lesson 4: Conventional Loan Programs & Non-Traditional Loan Types

Including:

Standard 15-2- 30 year fixed programs
Use of CHARMS Booklet
Maximum Loan to Value
Maximum Seller Contributions
Adjustable Rate
Construction Perms
Reverse Mortgages
Second Mortgage
Other historical and present day programs

Make Your Calculator
Earn It’s Batteries

Lesson 5: How to do all the math without any mortgage software

Put your calculator into action. Your borrowers think they know how much they can afford. Lets do the math to see if they’re right!

Without accessing your laptop, you’re going to learn how to:

Read Private mortgage Insurance Rates Sheets
Calculating PMI
Principal and Interest Payment
Hazard Insurance
Completing the Loan Estimate
Fees that do and don’t affect “APR”
Fees worksheet
Prepaids
Property Taxes
Escrows
Flood Insurance
Origination Charges
Services your borrower can & can’t shop for
Total Cash Required To Close
Home Loan Tool Kit

Now that you understand the math , we’ll cover pre-qualifying the borrower and how to take a correct loan application, Including:

Basic Fannie Mae Underwriting Guidelines
Borrower Income and Assets
Debt to Income Ratios
Loan-To-Value Requirements
Cash Required to Close
Required Borrower Documentation

 

Taking A Good Application
is an Art. 

Lesson 6: Guidelines For Taking A Detailed Loan Application

It takes time to properly and thoroughly complete a mortgage loan application. However, the extra time spent “UPFRONT” results in speedier processing and approval later on.

A properly completed application also means less surprises for you and your processor. Asking all the right questions and determining the the required documentation does results in speedier approvals – with little or no conditions.

Why are you’re loans
not closing on time.

Lesson 7: Loan Originator Duties & Responsibilities For Assisting In Speedier Loan Processing

This is a review of conventional loan processing requirements and why originator’s need to understand the importance of submitting complete loan applications with all the required documentation the first time.

This section emphasises why it’s absolutely essential for every originator to understand how loans are processed, their documentation required, and how underwriters look at the risk in determining approval or denial of a loan file.

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Principles of Mortgage Finance