Mortgage Bootcamp

Mortgage boot camp for loan officers and real estate pro’s is designed to give you a BIG head start understanding the concepts as well as the important formulas needed to do your calculations for qualifying your borrowers.

• Mortgage Industry: This first chapter is just an overview of the mortgage industry.Mortgage Calculations: This chapter on Mortgage Calculations is VERY intense.  Be ready to WORK HARD!Mortgage Income Qualifying: You will learn the difference between paycheck income, commission income and tax-free income. You will also learn HOW MUCH a borrower might qualify for.Points: This chapter will teach you the correct way to use points for a great benefit to the borrower.Rate Sheet: In this chapter you will learn how to read a rate sheet with precision.1003 Mortgage Application: We will walk through all 10 sections and in addition I have included the modified “1003” that will be used in July 2018.Credit Scores & Reports:  What I like to call the difference between a FICO score and a FAKE-O score! In this chapter we will actually read an entire credit report from start to finish.TRID: Today under the new rules of TRID. This chapter is more of an overview than a deep dive. It’s more about understanding the big picture here.Appraisals: After this chapter you will have an excellent appreciation of how valuable and important appraisers are to the mortgage process.Adjustable Rate Mortgage: Ever wonder how an Adjustable Rate Mortgage works? Buckle up, it’s about to get real.Title Reports: Title reports are a critical part of all mortgage loans. Closings cannot take place until there is a free and clear title.

  Type of Mortgages: This chapter will teach you some basic differences between some of the more popular types of mortgages.

  Reverse Mortgages: Reverse Mortgages are very misunderstood. This chapter will give you a better understanding of how Reverse mortgages work.

  Pulling it all Together: The final chapter will tie the process together.

   

Ever Consider Mortgage Loan Originator Licensing?

Manfred has paved the path for hundreds of new Mortgage Loan Originators to embark on their journey, grasping the complexities involved in overcoming all the challenges concerning the National Mortgage Licensing Service (NMLS) Most importantly, we equip you with strategies to navigate this fresh business model. Let’s collaborate and navigate through these changes together so that you begin your endeavor on a positive note. Schedule a call with our dedicated team today – we’re more than happy to support you!