Residential Mortgage Loan Origination Made Easy

You have chosen to be a mortgage professional and that's what you need to be. The better trained you are the more professional you can be.

This manual give you the basic mortgage training you need to be professional.

Over 180 pages of confidence building, image enhancing material is within your grasp. Over 17 chapters cover all you need to know to be the best mortgage originator around. Once you complete this manual your co-workers who have been in business for years, will be amazed that you are more knowledgeable then them!

This book is a must for all loan officers originating loans. It is both an excellent training manual and a wonderful reference book of mortgage laws, terms, and techniques. Not only is it filled with useful information, but you also get easy to use forms, agreements, and worksheets.

This book will show you how to:

Get your loans approved by FNMA.

Do a full fledged pre-qualification in less than 5 minutes.

Fill out a Good Faith Application with your eyes closed.

Complete an entire 1003 application and understand it thoroughly - this includes exercises.

Know the differences between the various mortgage loans available today.

Understand and interpret rate sheets.

Obey all laws involved to keep you out of jail.

Understand B, C, and D markets.

Know the most frequently asked questions by borrowers and their answers.

You will learn:

Why being a mortgage originator is one of the last professions remaining that you can enter with little out of your pocket and unlimited income potential.

What you will need to get started.

Who should you work for - lender or broker - strengths and weaknesses of both are discussed.

How the lending system works from the inside out - a thorough explanation of primary and secondary markets.

What laws affect mortgage origination and how to abide by them.

How to lock a rate and explain its importance to borrowers.

How to read and interpret a credit report.

How appraisals are completed and the methods used.

How long a mortgage should take to close and how long each step takes.

Reviews:

This is a terrible manual. I hope it stays out of print. Poorly-written, unedited, slapped together, it is a mishmosh of outdated, compiled, swiped material that will be of no use to anyone looking to learn about residential mortgage loan origination. There are a lot of good manuals out there, and this sure ain't one of them.

I wish I had this book 25 years ago when I first got in the business. Instead, I got it for my daughter when she joined my company. She picked up the concepts and jargon within a week! I now keep this book in the office and it is required reading for all new loan officers.

This manual was a great help in helping me understand the mortgage business. After my divorce I was left with little money and no prospects. So I turned to the mortgage business. After months of being in over my head, I found this book and things have never been the same. By learning actually how to properly take a loan and how it gets processed I was able to answer my customer's questions that before I had to get the answer from someone else. My confidence shot up through the roof and so did my income.My licensing instructor had recomended it to the class months earlier but I totally forgot about it. Now I wish that I had got it sooner. If you are serious about this business, get this book.

This is a poor excuse for a training manual. Way over priced. This book should sell for $3.95 if that much. You definitely can't learn about mortgage business from this book. Threw it in the trashcan after reading about 15 pages. It only took 3 mins. to read that much.

Expensive, but not compared to learning the profession through the school of hard knocks. I received no training whatsoever when I became a mortgage broker. This book taught me all I know. And I earned over $45,000 last year. Not bad for my first year. I went through the exercises again and again until I knew the stuff cold. And in my first loan, the borrowers could not even tell I was new. they thought I had been doing loans for years. I got the confidence from what I learned in this book.It is not for people not in the business. It is very detail oriented and has topics only loan officers should be concerned with. And as for rate sheets, it not only explained the two different kinds of rate ratios used, but also gave a real life example. I recommend this book to all new loan officers.

I went ahead and paid a whopping $137.99 for this book based on the write up and one glowing review. I've worked in this industry for 2+ years in the admin dept and wanted to truly understand the ins and outs of the business, rate sheets, etc. before making the jump to a commission only job. Guess what? The book is padded by printing only one side of the page to make it appear more substantial than it is. Many, many pages are copies of loan application forms, disclosures, etc. that are completely self explanatory. There is ONE page (barely - 3 inch margins all around) explaining rate sheets - the biggest mystery to new loan officers - in the entire book. I hope I can get a refund. This book isn't worth $19.95, let alone $137.99. Its a total rip off.

This book saved my life. When I started as a loan officer I knew nothing. And my manager was no help. So I had to train myself. This book was recomended to me by another in my office. And it is the best training manual I have seen. It covered everything I needed to know and alot of things I would never have known.If you are new to this business, get this book. You'll thank me later.