IIRF Online > Business > Real Estate > Mortgage > Advanced Mortgage Loan Processor: Essential Skills Training
Advanced Mortgage Loan Processor: Essential Skills Training by Udemy
Finibi Mortgage CEO, Joe Correa, teaches you how to take your mortgage loan processor career to the next level
Course Highlights
- Learn how to calculate a salaried borrowers income.
- Learn how to read and understand an appraisal and how property values are obtained.
- Become a pro at locking rates and understanding how rates affect a loans approval.
- Develop a deeper knowledge of verifications of employment to get more loans approved.
- Learn how to become more valuable as a processor by completing more of the necessary task to close more loans.
- Read and know what to request on a homeowners declaration page to get more loans closed.
- Understand the importance of a survey and when it should be ordered and by who.
- Learn how to obtain invoices for third party fees so that you loan is compliant and the lenders clears your loan to close.
Skills you will learn!
Curriculum
6 Topics
Introduction to the course
Working remotely
Learn at your own pace
What's advanced mortgage loan processing?
What can I expect in terms of a salary?
Who should take this course?
7 Topics
Loan processing exercises: Calculating the debt-to-income ratio
Loan processing exercises: Calculating the loan-to-value
Loan processing exercises: Calculating the borrower's "cash to close"
Exercises on calculating the borrower's DTI LTV and cash to close
Exercises on calculating the borrowers middle credit score
Exercises on how to calculate the PITIA
Learning to become ultra-productive
28 Topics
1. Calculating a salaried borrowers income
1. Calculating a self-employed borrowers income
1.2 Calculating the LTV to help borrowers qualify
2. Running AUS for DU and LP approval
Loan Prospector findings overview
3. Ordering and reviewing appraisals
3. Ordering appraisals on FHA loans
4. Ordering VOE's and VOI's in a fast and efficient manner
Theworknumber.com VOE example
Truework.com VOE example
5. Ordering and updating homeowners insurance
6. Ordering and reviewing the survey
7. Credit report updates mortgage only reports and other
8. Obtaining mortgage payoffs quickly
9. Requesting a change in circumstance or CIC
Requesting a change in circumstance or CIC
10. LOE's or letters of explanation for different reasons
11. Locking the interest rate and extending the rate
Locking the interest rate and pricing adjustments
Rate lock extension
12. Mortgage insurance effect on the loan
13. Reviewing loan approval conditions
14. Collect and submit third party vendor invoices
Credit report invoice example
Appraisal invoice example
Homeowners Insurance invoice example
Survey invoice example
15. Getting a clear to close
3 Topics
Briefly reviewing the loan process of a mortgage loan
What documents do lenders need to underwrite a loan?
Loan estimate overview
3 Topics
Becoming good at running Desktop Underwriter and Loan Prospector
Once you have a conditional approval
Read and understanding a conditional loan approval
6 Topics
Top lender to use when processing: United Wholesale Mortgage
A quick interruption
Top lenders to use when processing: Quicken Loans Mortgage Services
What do you need to know when it comes down to loan timelines?
Timeline calendar
Loan timeline example
6 Topics
Lenders hiring right now
What to say and do when you're interviewed
What if I don't get hired?
Making every day a great day at work and enjoy the journey
Thank you!
Bonus: What I recommend
Advanced Mortgage Loan Processor: Essential Skills Training
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