Product Knowledge Boot Camp
New Loan Officer Skills Training
Objective
To intensively teach initiates the fundamental career skills, product knowledge, process and sales practices, concepts and information they need to form a foundation for becoming successful quickly. Thinking about a career as a residential loan officer? Please read the Free White Paper - A Career as a Residential Loan Officer.
Course Methodology
In-Class, On Line - Computer Guided, or Self-Paced (Correspondence)
Using the same curriculum as the live class, and our advanced technology, users progress through a guided instruction using physical files and exhibits for a "hands-on" feel. The course book is included electronically on-line, with the course, for guidance and as a printable reference . Case studies, tests, quizzes and a final evaluation provide the understanding that only comes through doing. Take the class online and use the same materials as the live class. You can ask questions, clarify material or review other information with an instructor, even ask questions about a case in progress using our "Ask the Instructor" feature.
Timing - Online
The course is currently under construction, with courses being updated and added every day. There is an instructor available to answer questions via chat. Currently there are approximately 32 Lessons, for a total of 30 hours of continuous teaching. With reading and exercises, the course will take several weeks to complete, but you may proceed at your leisure. You have access to the course for 60 days, extendable for 30 days at a time, provided you continue to log-in.
Materials Provided
Since 1992 - The ORIGINAL Loan Officer Boot Camp
We have been teaching the Loan Officer Boot Camp since 1992 - long before most other instructors and companies were even in the mortgage business. The Boot Camp concept is not for everyone. It requires commitment on the part of the student to be an active learner, and to be interested in being a highly professional, ethical, career-minded lender.
Objective
To intensively teach initiates the fundamental career skills, product knowledge, process and sales practices, concepts and information they need to form a foundation for becoming successful quickly. Thinking about a career as a residential loan officer? Please read the Free White Paper - A Career as a Residential Loan Officer.
Course Methodology
In-Class, On Line - Computer Guided, or Self-Paced (Correspondence)
Using the same curriculum as the live class, and our advanced technology, users progress through a guided instruction using physical files and exhibits for a "hands-on" feel. The course book is included electronically on-line, with the course, for guidance and as a printable reference . Case studies, tests, quizzes and a final evaluation provide the understanding that only comes through doing. Take the class online and use the same materials as the live class. You can ask questions, clarify material or review other information with an instructor, even ask questions about a case in progress using our "Ask the Instructor" feature.
Timing - Online
The course is currently under construction, with courses being updated and added every day. There is an instructor available to answer questions via chat. Currently there are approximately 32 Lessons, for a total of 30 hours of continuous teaching. With reading and exercises, the course will take several weeks to complete, but you may proceed at your leisure. You have access to the course for 60 days, extendable for 30 days at a time, provided you continue to log-in.
Materials Provided
- Text - Loan Officer's Practical Guide to Residential Finance (electronic)
- Tools, Worksheets and Exhibits (electronic)
- Quizzes/Tests/Final Assignment
- Completion Certificate
Since 1992 - The ORIGINAL Loan Officer Boot Camp
We have been teaching the Loan Officer Boot Camp since 1992 - long before most other instructors and companies were even in the mortgage business. The Boot Camp concept is not for everyone. It requires commitment on the part of the student to be an active learner, and to be interested in being a highly professional, ethical, career-minded lender.
Processing Boot Camp
For Processors and Loan Officers
Objective
For new and intermediate processing staff, this course helps to understanding the functions of the processor, loan file set up, documentation review, loan file submission preparation, satisfying underwriting results, status communication, and loan closing preparation. Considering a career as a processor? Read the Free White Paper - A Processing Career and Register for Free Training and receive an introduction to the career prospects.
Objective
For new and intermediate processing staff, this course helps to understanding the functions of the processor, loan file set up, documentation review, loan file submission preparation, satisfying underwriting results, status communication, and loan closing preparation. Considering a career as a processor? Read the Free White Paper - A Processing Career and Register for Free Training and receive an introduction to the career prospects.
| White Paper-Career as a Loan Processor |
Since 1992 - The ORIGINAL Processing Boot Camp
We have been teaching the Loan Officer Boot Camp since 1992 - long before most other instructors and companies were even in the mortgage business. The Boot Camp concept is not for everyone. It requires commitment on the part of the student to be an active learner, and to be interested in being a highly professional, ethical, career-minded lender.
Take the individual modules below, or the entire boot camp as one. This set is also included in the Loan Officer Assistant Program.
Loan Processing Skills
250.00 Introduction to Loan Processing
This course provides an overview of the processors position and gives the detailed duties and tasks that define the processor's role. $29.00
251.00 Processing Boot camp - Mortgage Industry Overview
This course introduces students to all of the elements he or she will encounter in conducting daily duties - mortgage industry players, products, and regulations.
252.00 Processing Boot camp - File Setup
This course teaches the processor how to Set Up or "open" a new loan file. All of the steps required to begin the processing of a loan file are reviewed.
252.10 Processing Boot Camp - Loan File Set Up - Federal and State Disclosures
Initial regulatory compliance usually is the responsibility of the file opener/set up processor. This section details the compliance requirements of the mortgage loan file.
253.10 Processing Boot Camp - Documentation Review - Debts, Ratios and Credit
Reviewing the credit documentation and evaluating the borrower's monthly debts are the first step in preparing the loan file for submission and underwriter approval.
253.20 Processing Boot Camp - Income Treatment and Documentation
This course reviews the documentation and treatments relating to the borrower's income. Determining qualifying income, assuring documentation consistency, and avoiding income fraud are all covered.
253.30 Processing Boot Camp - Asset Documentation, Sources and Sufficiency
This course reviews the various sources of assets required to document funds required to close. The documentation required, as well as the review of whether the borrower has sufficient assets for down payment and closing costs, are reviewed in detail.
253.40 Processor Boot Camp - Reviewing Property Documentation
This course is designed to take the student through a review of the loan file documentation that applies to the property. Sales Contracts, Condominiums and PUDs, Investment Property, New Construction, and Appraisals.
254.00 Processing Boot Camp - Underwriting Submission
Preparing the file for underwriting is a last critical step. Course includes checklist system for insuring all documentation is in file prior to loan submission.
Loan Officer Assistant Program
Component 1 |
Component 2 |
Component 3 |
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Loan Officer Bootcamp - since the assistant may be called on to assist the loan officer, he or she must have all the skills and knowledge of the Loan Originator
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Processing Bootcamp - Since the assistant may be called on to provide processing support, he or she must have processing skills and knowledge.
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Marketing Bootcamp - since the assistant may be called on to assist in marketing efforts, he or she must have knowledge of the fundamentals or loan originator marketing.
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After Dodd/Frank
Increasing Production is the only way to Grow Income – How do you get producing loan originators growing their volume?
In the aftermath of Dodd/Frank and flat compensation plans, originators can no longer look to revenue maximization to increase income. But most loan originators can’t break through the 6 to 8 loans a month barrier. With unemployment still a major issue, there couldn’t be a better time to hire new individuals into a mentorship program. The problem is how to train those brand new entrants?
NMLS approved training is NOT the Answer
A 20 hour compliance course is not going to teach a new entrant the skills needed to assist a seasoned loan originator. Plus, assistants don’t need a licensing course; they aren’t originators. They need job skills – which they can get through our assistant program.
Today’s Assistant is Tomorrow’s Loan Originator or Processor
Once the assistant has been on the job for 6 months to 1 year, he or she has already experienced the mortgage industry and knows the business through hands on interface. The assistant may be happy in the role of an assistant, or may be ready to move up to the originator or processing position.
The Assistant Program
Mortgage lenders want to hire experience loan officers. Traditionally, branch managers have been charged with this task – recruiting. Hiring seasoned loan officers in not without risk – good loan officers only leave their existing jobs when the company is falling apart. More frequently they are asked to leave due to unacceptable performance. The long recruiting process can be culminated by the hire of a seasoned, but non-desirable, loan officer who cannot produce or conducts business unethically.
The solution - build your business by recruiting quality individuals and training them the way you want them to do the business.
Package Includes:
Loan Officer Boot Camp
Processor Boot Camp
Loan Officer Marketing Guide
Increasing Production is the only way to Grow Income – How do you get producing loan originators growing their volume?
In the aftermath of Dodd/Frank and flat compensation plans, originators can no longer look to revenue maximization to increase income. But most loan originators can’t break through the 6 to 8 loans a month barrier. With unemployment still a major issue, there couldn’t be a better time to hire new individuals into a mentorship program. The problem is how to train those brand new entrants?
NMLS approved training is NOT the Answer
A 20 hour compliance course is not going to teach a new entrant the skills needed to assist a seasoned loan originator. Plus, assistants don’t need a licensing course; they aren’t originators. They need job skills – which they can get through our assistant program.
Today’s Assistant is Tomorrow’s Loan Originator or Processor
Once the assistant has been on the job for 6 months to 1 year, he or she has already experienced the mortgage industry and knows the business through hands on interface. The assistant may be happy in the role of an assistant, or may be ready to move up to the originator or processing position.
The Assistant Program
Mortgage lenders want to hire experience loan officers. Traditionally, branch managers have been charged with this task – recruiting. Hiring seasoned loan officers in not without risk – good loan officers only leave their existing jobs when the company is falling apart. More frequently they are asked to leave due to unacceptable performance. The long recruiting process can be culminated by the hire of a seasoned, but non-desirable, loan officer who cannot produce or conducts business unethically.
The solution - build your business by recruiting quality individuals and training them the way you want them to do the business.
Package Includes:
Loan Officer Boot Camp
Processor Boot Camp
Loan Officer Marketing Guide