Mortgage Origination Practices

Overview

Mortgage Origination Practices is an on-demand classroom style program of courses which presents the “Best Mortgage Practices” as described by a person who does the job and has succeeded.

Mortgage Origination Practices is a detail study of the primary components of the steps needed to originate a profitable and compliant residential mortgage loan in all 50 states.

The knowledge acquired will enable an individual to understand the importance of following a complete process.  The process pre-qualifies better customers for you and your company.  As described in detail with example applications, the program gives mortgage originators, processors, and underwriters a complete understanding of what makes a good mortgage loan.  This program presents the “How To” best work with your customer and staff to close a loan on time without constant changes or touches to the file.

Debra Killian, Certified Residential Mortgage Specialist, presents a story of over 25 years originating mortgage loans, what to do and what not to do.  Debra Killian is the control person of her company which has funded over 3,600 loans totaling over $1 billion.  Each loan customer was referred to her company by following the practices as described in this course.  During a 5 year period her company attracted over 15,000 customers and closed loans with 2,500 customers, some multiple times with no advertising using the methods described in this program.

Each episode is in a series of well-structured classroom style presentations which go right to the heart of originating loans and the issues that affect each transaction.  Go deep into loan transactions and learn the techniques used by Mortgage Professionals that make them experts at what they do.

Debra speaks in your terms and deals in the specifics of a loan transaction only originators or mortgage professionals understand.

Learn “Best Practices” for evaluating prospective customers, taking the application and getting your loans closed.

Objectives

• Learn the mortgage origination function from a broad & detailed perspective
• Acquire knowledge necessary to originate compliant, profitable mortgages
• Originate quality applications, evaluate the borrower, price and package appropriately
• Demonstrate knowledge of mortgage math and how to provide solutions
• Internalize knowledge to educate and appropriately advise consumers
• Demonstrate the ability to complete an application in a comprehensive case study of purchase transaction

Program Episodes

1. IMPACT – What You Do To Your Customers
2. How Lending Started and Evolved
3. Loan Origination Activities
4. Real Estate Finance and Credit Reporting
5. Mortgage Calculation
6. Mortgage Math and Qualifying Income
7. The IRS and Tax Reporting
8. Origination – The “1003“
9. Insurances – The Loan Estimate and Closing Disclosure
10. Documenting Files
11. Condition-less loan files
12. Mortgage Product Inventory
13. Rates, Pricing and Advising
14. Appraisals – The Collateral Property
15. Now Get it All Together
16. Comprehensive Case study
17. Comprehensive Final Exam & Wrap-up
18. Marketing – Develop Business Without Cold Calls

Ideal Candidates

An experienced mortgage loan originator at any level is the primary target for this course.

Other individuals who benefit from a better understanding of the loan origination and real estate finance topics include:

• mortgage processors
• loan assistants
• underwriters
• loan compliance staff
• loan administrators
• branch managers

Take one course or take them all you can now experience a new level of knowledge by hearing the “Best Practices in Mortgage Origination” directly from the Mortgage Professional, Debra Killian.  Mortgage Practices is the only on-demand, packaged instructional style course which presents the Best Mortgage Practices as described by a person who does the job today and has succeeded over many years.

A Mortgage Professional is not a Mortgage Originator

A Mortgage Professional is a loan originator that can do a complete job in arranging  financing for a customer.  Some Mortgage Professionals work for themselves and others work with companies.   They both do the same thing.  They engage a customer who provides authorization to them to arrange for the financing of real property.  With this authorization the Mortgage Professional will make all of the arrangements so that the mortgage proceeds will arrive in a title company’s checking account on a certain day.  To accomplish this a large numbers of forms must be completed,  explained to the customers and supported with proper documentation.  Every form must be accurately completed and all required forms must be included.  The numbers must be precise!

Some mortgage companies split the job of a Mortgage Professional into: “Originators”, “Processors”, “Underwriters”, “Closers” and because there is so many people involved they need to have “Auditors” and “Checkers” and “Quality Control Person”.  Then the company sends the file to a wholesale third party lender who “Underwrites”, “Prepares for Closing”, “Closes” and “Audits” the same loan file with more forms.

This program trains experienced mortgage professionals on the best practices used to originate and close a loan by a single person.

• Develop a Client Base
• Take a complete Application
• Use Technology and not the other way around
• Pre-Qualify with Options
• Submit a Conditionless File
• Price and Lock Loans – Do you use Float-downs
• Clear to Close is the goal
• Keep your customer informed

A properly originated loan does not require changes and is a more profitable loan.  A change of circumstances is one of the major contributing factors that cause errors on files.  A properly originated loan requires an sound understanding of real estate transactions so that the proper questions can be asked during an initial interview.   Information provided to a loan originator should be used by the originator to properly adjust the interview to the appropriate areas.  A loan application taken by inexperienced originators use standard checklists and just accumulate information. It is not evaluated on the spot.  During an quick telephone interview a Mortgage Professional can properly evaluate a caller and not only the determine if the prospect is a good customer but can also predict that a loan can be done.   This is the part that separates a trained Mortgage Professional from others by using the initial interview to properly advise the customer.

Mortgage Professional Practices shows you what to do and how to do it.

A recent student summed up his evaluation of the course by stating, “My god this course is just insanely valuable. It’s a crime that I spent 18 years not understanding the hundreds of tax returns and the dozens of loans I lost because of not know this material.” Jeff K.

For an overview of the program watch this short video here.

Interested in trying a part of the program?  Check out Qualify Borrowers Using Tax Returns

NOTE TO: Mortgage Trainers and Consultants and Branch Managers – This program is an excellent way to base a comprehensive loan process training program for loan originators.  Contact Deb Killian at deb@cloes.online to find out how you can leverage our education to improve your education and training results.