After completing the NMLS pre-licensing training, every hiring manager should consider this program as a supplement to their current hiring protocols. This 12-hour, 3-course program of instruction with testing covers the most important areas every MLO needs to learn before taking their first application. This curriculum can get your people into the field 2 to 3 weeks faster than most programs.
On Board Training For New Originators – Self Paced
Principles of Mortgage Finance
Initial On Board Training For Brand New Originators
3 Proven Training Courses With Printed Manuals & Case Studies
Self Paced Video Training Format
Instructed by Kathy Lewis
Master Mortgage Trainer Since 1986
Training Officers & Branch Managers
Take a few minutes and watch an excerpt of this training as Kathy reviews some of the steps in calculating the borrower’s income. Please remember the students will have their printed books and case studies infront of them as they watch and participate in the training exercises.
What’s covered in these 3 mortgage lessons?
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 originatorand/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.
2nd: Correctly Calculating Your Borrowers Income
2.0 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 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.
3rd: “Principles of Mortgage Finance”
8 Hours / With online Testing
Preview Our Table Of Content
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 proceedures
guidelines they should follow to insure their loans close on time.
Branch Managers & Trainers Consider This Possibility.
If after purchasing any training program for an employee, and if
that employee leaves the purchasers employment within 90 days of hiring;
Capstone will train the next employee at no charge.
Capstone is so confident on its quality training courses we offer this replacement guarranty
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 orighinal course that was purchased.
Our Certificates of Completions are controlled by the purchaser of the training
We recommend that employers do not issue or award our Certificate of Completion ,
but wait until you’re sure your decision was a good one.
Why permit a new recruit to use our certificate that you paid for to shop for another job
if they leave your company. If an individual pays for this training then, of course, they will
receive their Certificate of Completion after passing their online testing.
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 that of the training time and expense they have at risk. Believe us;
just because a loan originator has 2 or more years of experience doesn’t mean their more competent
than you as a rookie who has just completed their training.
Show employers you’ve made the commitment by helping them lower their risk factor and make
them feel confident that you’re prepared to work hard and invest in yourself.