Become competent and learn the correct rules, guidelines and calculations for originating any type of conventional loans including refinances. The NMLS 20 Hr Pre-licensing course was never meant to cover and explain in detail how to originate conventional loans. See why this training has been successfully instructing new originator’s for over 36 years.
Conventional Loan Training For New Loan Originators
Branch Managers & Owners Consider This Possibility.
Capstone is so confident on its quality training courses, that we offer this replacement guaranty on any of our programs.
If you purchase any training program for a new employee and they leave within 60 days of their hiring date we will replace that training for your next employee; including materials for $25.00.
Initial On Board Training For Brand New Originators
$550.00 / 4 courses + 1 Optional
(Over 20 hours of instruction with testing.
Self Paced -Online with printed certificates of completion)
Printed books and materials are included and shipped the next day to your location.
Take a few minutes and watch our training in action
Our training curriculums are proven effective because Bankers, Lenders Brokers and government agencies continue to purchase them and done so for over 35 years.
1st: Credit Report
Over initial training is laid out in a logical sequence. You can’t honestly qualify a borrower until you see their credit report. You just can’t look at their score and leave it at that unless your a big gambler.
2nd: Calculating Income
Once you have their credit report; now you need to know how to correctly calculate the borrowers income. Borrowers unintentionally seem to think they generate more income than they really can use. This course teaches you conventional Fannie Mae rules and guidelines so you know how much house they can really qualify for.
3rd: Principle of Mortgage Finance
Now your ready to learn how to take a detailed loan application the correct way including the current
Fannie Mae rules and guidelines and stay in compliance with federal regulations.
This is really – IMPORTANT !
4th: Fees worksheet & Loan Estimate
Now you have their credit report. You’ve correctly calculated their true income and from that
you’ve counseled them on the best loan programs that meet their needs.
But now you have to show them your proposed Loan Estimate
So you rely on your trusty computer’s loan origination software to generate your fees worksheet and then convert over into your loan estimate which you give to your borrower to accept and sign of with.
Sound easy ugh!
But what if your borrower wants you explain to them in detail why some of their fees are so high and why they need this much money to close and this much money left in their banking account after their loan is closes.
This course in detail explains how every box in the fees worksheet is calculated and the bundled
over into your final loan estimate. Many a loan has been delayed or lost because the loan originator
couldn’t explain sufficiently how their fees were calculated .
Don’t ever completely trust any mortgage software unless you know how all your fees are calculated and can explain them to your borrower using a $2.00 calculator. Why?
Your borrower could be in front of you and following along with you using their own $2.00 calculator.
Break down of each course
1st: Understanding & Reading Credit Reports
2.0 Hours Instruction / No Testing / Printed Training Manual Included
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 line and understand how to interpret the information correctly to benefit their borrowers.
2nd: Correctly Calculating Your Borrower’s Income
2 Hours Instruction / With Testing
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 whose 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.
3rd: “Principles of Mortgage Finance”
8 Hours / With online Testing
Section 2 through 4 are designed as reference sources
Our video training starts off with section 5 and continues to sections 6 -7- 8.
Now that the originator understands credit reports and calculating income, we can start training them on how to take a detailed loan application and the procedures and
guidelines they should follow to insure their loans close on time.
4th Fees Worksheet & Loan Estimate
6 Hours / With online testing
Branch Managers & Trainers Consider This Possibility.
Capstone is so confident on its quality training courses, that we offer this replacement guaranty
on any of our programs. This replacement offer is limited to brokers or lenders who purchase any of our programs for one of their employees.
This offer is limited to one replacement training course per purchase, and is limited to the original course that was purchased.
Instructed by Kathy Lewis
Master Mortgage Trainer Since 1986
Why is Capstone’s training curriculum superior?
Capstone Institute initially started in 1986 by offering its training as live, in-classroom training in Atlanta Georgia. Companies from around the country would fly their staff to Atlanta for our one- and two-week curriculum. Later we were the first to offer live mortgage webinars to help reduce the traveling costs to our clients. Then the demand shifted to offering our programs on VHS tapes and then progressing to CDs and now to streaming videos.
Now that the technology has completely shifted to streaming video, we still commanded our lead in mortgage training because of the quality of our training materials and our instructors. Even our competitors carefully refrain from criticizing the quality of our materials.
What tops the benefit list of choosing Capstone is our 100% unconditional training guaranty. We’re the only mortgage training institute that allows companies or individuals to purchase our courses and then use them with the right to return them if they are not satisfied.
The NMLS Pre-licensing Training Was Never Meant To Make YOU Competent.
Completing your NMLS pre-licensing training and documentation makes you employable to be hired as a loan originator. Its doesn’t make you competent!
The NMLS training was never meant to make anyone competent, only knowledgeable on mortgage basics, fraud, federal regulations and ethics.
It’s up to schools like Capstone Institute and employers to get you to your first level of competency.
But not all mortgage companies have structured training programs or professional trainers.
That’s why many originator job opportunities are seeking experienced loan originators with 2 or more years of experience. Many great branch managers are capable of training, they just don’t have the time to invest or risk in a new hire without previous experience.
New NMLS graduates – Help yourself to get better interviews and jobs.
If you’re having difficulty in getting interviews to start your career, you must understand the risk of time and money every employer has when hiring a new originator. Most advertised job offers want experienced originators with 2 years’ experience. It’s a logical request because many branch managers don’t have the time to offer the training, and then supervise the new hire and conduct all their weekly duties at the same time.
By investing in yourself and purchasing this training, you enable the good branch managers to take the risk and offer you an interview.
Doctors and Lawyers go years to college to get their professional training at their own expense.
Plumbers, electricians, and general contractor spend years developing their skills at their own expense.
Loan originators are among the few who have the capability of earning extremely high annual incomes in excess of $100,000 without a college degree.
FYI – Branch Managers ” Hiring Experienced LO’s “
We understand that your time is limited and you’d prefer hiring experienced originators because
it’s easier on your time and lower risk. They’ve already proven themselves. Well, maybe.
Consider this though: There are sometimes inherent problems hiring “experience LO’s”.
Why are they moving to your shop and not staying where they are?
Is their experience current or was it before the crash?
Will they bring in bad habits and attitudes that could spread over into your office?
We strongly recommend that you add our “Fees Worksheet & Loan Estimate” class to their training.
Managers: We just gave you a full week of not having to cover the basics.
We just took 1 week off your training schedule so you can immediately start them off learning your Loan Origination Software. The sooner they learn how to correctly input data, the faster they’ll get in the field.
What happens after I pay for their training and either they don’t report for their first day of work or they leave after a few week?
Sometimes employers pick the wrong candidates or the candidate finds out that origination isn’t their cup of tea. If your new hire leaves for any reason within 60 days, you won’t lose your training investment.
We’ll train your next hire at no charge.
Note: If your past hire doesn’t return their materials we can replace them for $150.00
Certificates of Completion can be controlled by the employer
We recommend that employers call us before registering a new hire. This way your new hire’s
Certificate of Completion is sent to you.
Why allow a new recruit to use our mortgage training certificate that you paid for to shop for another job!
Attention New Originators Looking For Employment
If you’re looking for a better way to get your first job interview, seriously consider taking this
training and add it to your resume. A reason why employers are looking for originators with 2
or more years experience is due to the training time and expense they have at risk. J
Just because a loan originator has 2 or more years of experience doesn’t always mean they’re
going to produce more loans than you as a rookie.
Show employers you’ve made the commitment by helping them lower their training risk factor and make
them feel confident that you’re prepared to work hard and invest in yourself.