This product is designed to give the
new or entry level processor all information necessary to be able to
quickly learn to manage a pipeline. Most processors learn the job in
segmented pieces, moving from loan file set-up, data entry, and clearing
conditions to managing a pipeline. This book allows the processor to
learn, step-by-step, the functions they are expected to execute.
Processing has been described as the
life blood of the mortgage business - a company lives or dies based on
its ability to deliver excellent service. Most of the burden for
providing excellent service falls on the processing function. Few
companies have formal processing training. This product is designed to
help processors manage larger pipelines more efficiently.
The reader learns the functions,
challenges and career path of the processing position. Detailed, step-by
step instructions cover loan intake, loan file set-up, regulatory
disclosure requirements, vendor management, file status reporting,
borrower communication, file readiness determination, pre-underwriting
review, working with automated underwriting, satisfying loan
stipulations, pre-closing preparation and file audit preparation.
Specific treatment of various
specialty programs is included, such as construction loans, FHA and VA
loans, streamline refinances, debt consolidation, brokered loans versus
in-house underwritten loans. Time management techniques, automation
integration other management techniques.
Published since 1992, and updated
annually, this 384 page textbook was written as an answer to the
"sink-or-swim" training methods of many mortgage firms. The format is
designed to give the newly initiated loan officer/agent, lender,
processor, or other initiate the practical information they need to do
the loan officer's job. The SAFE Act version includes the
Loan Officer's Guide to Compliance as well as
NMLS Mortgage Loan Originator Exam and Pre-Licensing
The reader learns how to understand
rate and point quotes, how to use a financial calculator, how to make
basic computations customers require, how to understand loan programs
and compare product features. The student progresses through
understanding loan specifications - Conventional Conforming, Jumbo,
FHA/VA and Sub-Prime program guidelines - to a practical understanding
of ratios, income, assets and closing costs, debts and credit history.
This is then placed in the context of the loan application - how to
collect all the required documents and disclosures and supervise a loan
from application to closing.
Beyond the basics, students learn
how to finance various property types; condos, PUDs, new construction
and investment property. A detailed chapter on refinancing addresses the
issues which most often confront the loan officer in a period of heavy
refinancing - 10 reasons to refinance. Finally, understanding how loans are
made in the secondary market and the basics of interest rate quoting and
behavior are covered.
Loan Officer's Practical Guide to Marketing is the premier business development
book for loan officers. Unlike many other "sales books" about
selling, this book is a nuts and bolts approach. It gives specific,
time-proven systems along with the underlying statistics and data that
demonstrate why the systems work
the heart of the process is a three tiered approach - 1.) real estate sales
professionals, 2.) niche marketing and 3.) financial intermediaries and real
estate related professionals. The loan officer also learns to establish a
marketing plan. The key focus of this effort is the process of
identifying, contacting and classifying their prospects. The system
employs common software and time in motion blocking to develop a weekly plan
that the loan officer can follow consistently. The culmination of
this effort is the assembly of an introductory package.
addition, there are value added service business development systems, time
management business development systems, and call planning business development
is no theory involved in the deployment of this program. There are not
thousands of tactics that tend to distract the loan officer from the completion
of a marketing plan. There is one simple, concise and unified approach
that, once implemented, is repeated in perpetuity.
Purchase the entire practical guide
library for your resource center today. Includes the Loan Officer's
Practical Guide to Residential Finance, The Practical Guide to
Marketing, The Loan Processor's Practical Guide, and the Loan Officer's
Practical Guide to Compliance.