Our intensive training program agenda includes...
- Introduction to being a Loan Originator
a. Identity of the LO
b. Discussion on compensation
c. Licensure and responsibility
d. Overviews on properly pre-qualifying an applicant
- Secondary Marketing
a. Discussion on bonds, MBS Highway, Hedging, Pricing loans, Aggregator relationships, Investor relationships, Servicing of loans
- Taking a quality loan application
a. Display multiple parts of the application
b. Discuss each section to invoke break out discussion
c. Give examples on categories that can be detrimental to a loan approval
d. Give examples on how to get deeper with probing questions during an application
a. Review redacted credit report
b. Go thru each section of the report to understand its components
c. Discuss disputed tradelines, credit scoring, trended credit, names, socials, & inquiries
d. How to discuss credit reporting with a consumer
- Basics of Income
a. Discuss different types of income and how this affects qualifying
b. Discuss examples of hourly, salary, bonus, overtime, commissions, self-employed, etc.
- Income Scenarios
a. Workshop of real redacted income scenarios. Participants will be given time to work these examples on their own and then we will discuss answers together.
a. Discuss different types of bank accounts; checking, savings; money market, cd’s, 401k, IRA, stocks, etc.
b. Discuss consistency of assets; what can cause issue during a transaction
c. Discuss gifts; what is allowed and what is not
- Understanding DU & LP
a. Display real redacted DU & LP runs
b. Discuss the difference between the two; when might you want one over the other
c. Explain how to read and understand each
d. Discuss options to better chance of loan approval
Space is limited to the first 25 registrants so, register today!