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After attending, come back for a "refresher course" any time during the next 12 months for half the current full registration fee. Call to check availability!

Need-To-Know Essentials Training Course Outline


Our Need-To-Know Basic Mortgage Loan Origination Course gives you the "TRUE NUTS& BOLTS" of Loan Origination skills that every mortgage originator (or any one involved in the mortgage loan process) needs to know.

This intense weekend course provides interactive, hands-on instruction along with your easy step-by-step reference manual and (with the Value Pac) Qualifier Plus® IIIx Advanced Residential Real Estate Finance Calculator.

We have summarized only relevant industry information, techniques and skills to help you succeed!

You will gain Mastery ofthe essential loan origination skills needed to increase your closing ratio,increase your income and develop more referrals. NO OTHER COURSE TEACHES THIS!

Here's Just Part Of What You Will Gain!


Overview Of The Mortgage Market

    Volume & Type Of Mortgages Sold
    Loan Originator Responsibilities
Lenders: The Different Types And How They Apply To Your Borrower

Understanding The Basics of RESPA, Lenders And Products
    Alt "A"
    Non-Prime & Sub-Prime
    Hard Equity
Mortgage Math: What The Terms Mean And How To Properly Calculate Them
    What is a Percentage?
    What is LTV?
    What is CLTV?
    Calculating DTI's (front-end/back-end)
    Calculating Blended Rates (Piggy Backs)
    Understanding Full Amortization vs. Interest Only vs. Negative     Amortization
    Calculating Mortgage Insurance
    Grossing Up Income
    Calculating Payment Shock
    Prorating Taxes and Insurance-Escrows
    Calculating Different Types Of Income
      W-2/Salaried/Wage Earner
Appraisals & Property Types
    How an Appraiser Determines Value
    Market Approach vs. Income vs. Cost Approach
    Required Appraisal Forms
    Appraisal Reviews, What They Mean
    Automated Valuation Models (AVMs)
    Good vs. Bad Appraisals
    Comps - Are they valid?
    Problem Areas To Look Out For
Appraisal Glossary
    Title Policies
    The Basics
    The Title Process
    Lender & Owner Policies
    Title Endorsements
    Chain of Title
    Required Information
    Sample Title Policy
    Sample Title Charges
Surveys And Their Importance
    Different Lenders equals different requirements


How To Read & Interpret A Credit Report - What To Look Out For
    The 3 Major Credit Depositories
    Detailed Analysis of an "A" Paper vs a "BC" Credit Report
    Trade Lines
    Credit Depth
    Collections, Chargeoffs and Judgements
    Child Support
    Public Records

How To Read A Rate Sheet and Pricing For Profit
    A Paper
    BC Paper
    Hard Equity
    Using Online Lender Pricing Engines
GFE - Doing It The Right Way
    What is a GFE?
    How to Prepare
TIL - It Isn't Rocket Science
    What is a TIL (Truth-In-Lending)
    Identify items that are Prepaid Finance Charges
    How To Calculate Properly and be able to explain it to your borrower
How To Prequal Like A Pro / Gathering The Important Information
    How To Determine What Type Of Borrower Your Working With
      Payment Buyer
      Costs Buyer
      Rate Buyer
    How to determine if you should or shouldn't run the credit
    How to document a Loan from first contact
    How To Calculate (the first time correctly) how much money the     borrower can borrow and if applicable, how much house they can     buy.
How To Call A Lender / Bank Rep

    What every loan originator needs-to-know BEFORE calling a     wholesale bank rep

How To Make Your Borrower, Processor & Underwriter LOVE your files!
    L.O.'s Objective - Handing In A Complete File For Processing
    The 1003 - This Isn't Rocket Science, Either
      Sections I thru X of 1003
Due Diligence Or Die
      Verify all phone numbers and addresses
      Verify Employment
      Verify Rental
      Verify Mortgage
      Verify Deposit
Technology In The Mortgage Industry - How To Make It Work For You City/County Websites To Help With Due-Diligence Websites Underwriters Use To Check Up On Your Borrowers Story Time Savers And How To Use Them.

Preliminary Verification Of Information Gathered At Interview
Property Description
Employment Salary
Business License & Ownership
Business Address & Phone
Student Loan Status
Citizenship Status
Rental Information
Lender Information: By Property & Loan Product

Most Common Acronyms Used By Processors & Underwriters
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