Mortgage Course 101

Residential Mortgage

• Process Overview         
• Replated Components        
• Types of Mortgages        
• FNMA (DU)            
• FHA (What to Avoid)        
• FHMC (LP)            
• Prime & Sub-prime        
• Types of Borrowers        
• 1003 (Loan Application)        
• 1008 (Loan Summary Page)    
• Good Faith            
• Truth in Lending(TIL)        
• Compliance Income        
• Consumable Income        
• Income Calculation        
• Supplemental Income        
• VOR / VOM            
• VOE    
• VOD    
• HOA    
• Appraisal    
• Title Study (Types)    
• Insurance    
• Credit Analyses    
• Credit Fix Up    
• Leans (Different Kind of Leans & Limitations)    
• Pricing    
• Junk Fees    
• (Adjustments + Net Numbers)    
• Dealing with Different Kinds of Borrowers    
• How to Catch a Fraud
• How many Red Flags in Finance to Avoid
• Point Training
• Emailing & Importing Exporting Data, Building a template
• DU / LP Training
• How to stay Organize and stay in Control
• How to deal with Investor
• No Money Down
• A to Z
• Important Links
• Difference in B/W Purchase & Refi
• Case Study
• Shipping Cost Control
• Live Files
• Marketing: Stay at Edge
• Pipe Line Management
• Goals & Planning