Considering all the options to find the borrower's best fit
What you'll learn
Learn the characteristics of the loan that affect the program options.
Gain a general understanding of the programs available.
Understand the importance of checking guidelines with the source since they change periodically and without warning.
Connect the characteristics of your borrower to the guidelines to which option best fits and to give the borrower options for rate, down payment, and monthly pa
See how pricing engines can check your work.
Requirements
No specific prerequisites or prior skills are required to enroll in this course. It has been meticulously designed to cater to new Mortgage Loan Originators, Processors, and their assistants, providing them with a foundational understanding of the mortgage process. While no prior experience is mandatory, familiarity with the mortgage process is recommended. This course is particularly beneficial for individuals new to the mortgage industry or those aspiring to enter it.
Description
Welcome to "Navigating Mortgage Program Options," a comprehensive course designed to empower Mortgage Loan Originators, Processors, and their assistants with the knowledge and skills needed to adeptly guide borrowers through the myriad of mortgage program choices. Whether you're new to the industry or seeking to enhance your proficiency, this course is tailored for professionals in the Mortgage and Real Estate sectors.In this hour-long session, you'll delve into the characteristics of mortgage loans, gaining insights into how they influence program options. From Conventional and FHA to USDA, VA, and Non-QM programs, you'll not only understand the intricacies of each but also learn to align borrower characteristics with the appropriate guidelines.No prerequisites are required, making it accessible to all. Our meticulously crafted curriculum ensures that you not only comprehend the nuances of different programs but also discover where to find the latest updates, crucial in an industry where guidelines change without warning.This course isn't just about theory; it's about practical application. By the end of the hour, you'll be equipped to skillfully determine the program that best suits your borrower's needs—securing a monthly payment, down payment, and interest rate they'll love. Don't miss the opportunity to upskill and excel in your mortgage application process. Let's get started on your journey to success!
Overview
Section 1: Introduction
Lecture 1 Characteristics of a Mortgage Loan
Section 2: Conventional Program
Lecture 2 Conventional Program
Section 3: FHA Program
Lecture 3 FHA Program
Section 4: USDA Program
Lecture 4 USDA Program
Section 5: VA Program
Lecture 5 VA Program
Section 6: Non QM
Lecture 6 Jumbo & Non QM Programs
Section 7: Conclusion
Lecture 7 Concluding Thoughts
This course is primarily tailored for professionals in the MORTGAGE and REAL ESTATE sectors who are keen on refining their mortgage application process. It caters to individuals who seek to enhance their proficiency in working with borrowers once the application process has commenced.
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