Loan Officer Training

REL operates on an innovative approach. We bring the workshops to your site at a time convenient for the agents. In addition, we give the agents hands-on experience, going over scenarios that will help the agents close the transaction; thus producing income for the agent. Earn 6 DRE Credit Hours to Renew your DRE License. Our objective is to bridge the gap between theory and practicum. You will learn the intricate details of loans that you can't find in a textbook. Upon completion of the workshops, you will be given a certificate. Ask about our group rates.  

Loan Officer Training -Part 1 (6 CE credit)

Course Description: For the licensed loan agents who need to bridge the gap between theory and practicum, this live session is particularly relevant to upstart your career as a loan officer. You will learn the intricate details of loans that you can’t find in a textbook. All materials have been researched extensively and tested in the field.  The handouts have pertinent information that can be a helpful guide to solving problems for your clients. Upon completion of the workshops, you will earn Continuing Education credits.

Session 1:     Loan Processing Procedures

·         Duties of a Loan Officer vs. Loan Processor

·         Complete process from application, submission, approval, to close of escrow.

·         Documents required under FNMA and Freddie Mac guidelines.

·         Helpful hints to get more prospects: when and how to ask for referrals.

Session 2:     Completing a loan application 1003 and 1008

·         What to look for on 1003 and 1008

·         How to underwrite your loans

·         How to get a loan approval with compensating factors.

Good Faith Estimate:

·         Helpful tips to disclosing fees

·         Identifying items for APR computation

·         How to calculate Impound and Mortgage Insurance

·         How to Calculate APR

Session 3:     How to Read a Rate Sheet:

·         Basis Point Rate Sheet vs. Percentage Rate Sheet

·         How to quote the best rate and still make your commission

·         Watch for the fine prints when adding on price adjustments

Loan Programs:

·         What is “Mortgage Fraud”?

·         How to structure SIVA and NINA loans within the guidelines of investors

·         Advantages and disadvantages of Negative Amortization loans.

·         Understand ARM products, indexes, and the changing market

Session 4:     Computation:

·         Quick tips on estimating costs for refinance and purchase

·         How to determine a refinance with no cost and no point

·         How to calculate pre-payment penalty and blended rate

·         How to calculate qualifying loan amount when factors are missing

Session 5:         Credit Reporting and Credit Scoring:

·         How to read a credit report

·         Uncover the mystery of credit scoring

·         Tips to improving credit scores

·         Frequently Asked Questions

     Holding Title

·         Understand the tax implications of Community Property

·         How to determine Basis

·         What is step-up Basis?

·         Why is it that the manner in which you hold title is so important in your next refinance?

Session 6:         How to read an Appraisal Report

·         Analyze a residential appraisal report

·         Red flags that the underwriter would raise

·                 Key areas to look for when adjusting values.

·         How accurate is the report?

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Loan Officer Training-Part 2 (6 hours)

Course Description: This comprehensive program is an extension of the Loan Officer Training. We will cover topics that will help you close some of the most difficult loans.  Materials given have been field tested so that you are one step ahead of other loan officers. Learn to be a problem solver rather than just quote rates.  The Comprehensive Training is 6-hours, with each session broken down by 1 hour increment.

Week 1:      What your broker hasn't told you. 

·        Secrets of knowing the intricacies of loan programs that you can’t find in a textbook

·        Understand how the bond and stock market can be an indicator on your next rate lock

·        Learn to think like an underwriter and know what to anticipate in PTD/PTF conditions.

Week 2:      Tips to Closing a Loan

·        Know the “red flags” on a Preliminary Title Report that can make or break a deal

·        What to look for in a Net Sheet besides your commission

·        Be proficient with analyzing an Income Property Appraisal Report

Week 3:      Self-Employed Analysis

·        How you can quote the best rate to a self-employed borrower

·        An effective guide to determine the income of a self-employed

Week 4:      Complex Scenarios that will make or break your next deal.

·        Solve complex scenarios by using appropriate computations

·        Compare different terms and rates and the recoup time

·        Use projected value as a sales tool for investors

·        Should you Refinance or Stay with the Current Loan

·        Compare Renting vs. Buying and its tax implications

Week 5:      Tax Implications for Residential and Investment Properties

·        Analyze the advantages of Community Property vs. Joint Tenancy

·        Common-Law State vs. Community Property State

·           Examine 1031 Exchange and the criteria for deferring taxable gains

·        Great marketing tool for move-ups and baby boomers

Week 6:      Show Your Expertise

·        Practice What You’ve Learned

·       Demonstrate your expertise as a loan officer with different scenarios

·        Analyze, underwrite, process, and close

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Key Benefits

Pricing

Send mail to mary@maryshoane.com with questions or comments about this web site.
Copyright © 2006 REL: Real Estate & Loan School
Last modified: 05/10/06