- This event has passed.
January 21, 2021 @ 11:00 am - 4:00 pm
Be your best in 2021!
Join the FAMB Foundation and the Miami Chapter of the Florida Association of Mortgage Professionals for a New Loan Originator and New Loan Officer Assistant Boot Camp.
Our intensive training program agenda includes…
- Introduction to being a Loan Originator
a. Identity of the LO
b. Discussion on compensation
c. Licensure and responsibility
d. Overviews on properly pre-qualifying an applicant - Secondary Marketing
a. Discussion on bonds, MBS Highway, Hedging, Pricing loans, Aggregator relationships, Investor relationships, Servicing of loans - Taking a quality loan application
a. Display multiple parts of the application
b. Discuss each section to invoke break out discussion
c. Give examples on categories that can be detrimental to a loan approval
d. Give examples on how to get deeper with probing questions during an application - Credit
a. Review redacted credit report
b. Go thru each section of the report to understand its components
c. Discuss disputed trade lines, credit scoring, trended credit, names, socials, & inquiries
d. How to discuss credit reporting with a consumer - Basics of Income
a. Discuss different types of income and how this affects qualifying
b. Discuss examples of hourly, salary, bonus, overtime, etc. - Income Scenarios
a. Workshop of real redacted income scenarios. Participants will be given time to work these examples on their own and then we will discuss answers together. - Assets
a. Discuss different types of bank accounts; checking, savings; money market, cd’s, 401k, IRA, stocks, etc.
b. Discuss consistency of assets; what can cause issue during a transaction
c. Discuss gifts; what is allowed and what is not - Understanding DU & LP
a. Display real redacted DU & LP runs
b. Discuss the difference between the two; when might you want one over the other
c. Explain how to read and understand each
d. Discuss options to better chance of loan approval
Cost for the session is $75 for FAMP Members; $175 for Non-members.
Space is limited so, register today!