Become a Mortgage Loan Processor
- Offered byUDEMY
Become a Mortgage Loan Processor at UDEMY Overview
Duration | 2 hours |
Total fee | ₹455 |
Mode of learning | Online |
Credential | Certificate |
Become a Mortgage Loan Processor at UDEMY Highlights
- Earn a certificate from Udemy
- Get a 30 day money back guarantee
- Learn from 3 articles and 10 downloadable resources
- Students will get full lifetime access of the course
Become a Mortgage Loan Processor at UDEMY Course details
- For anyone looking to start a new career in real estate
- For anyone who wants to work from home
- For Students who want to make a large income no matter what your age
- For Mortgage loan originators looking to start their own business
- For Real estate agents looking to learn a new field
- For anyone who wants to start a career that has a stable income and great benefits
- Students will be able to understand how mortgage processing works
- Students will be able to start working as a mortgage loan processor
- Students will be able to prepare and submit a loan package to underwriting for approval
- Students will learn how to review specific documents including a 1003 and disclosures
- Students will learn how to become a contract processor as well as a salaried processor
- Students will understand how to prepare a loan package for auditing
- Students will be able to complete compliance checks and know exactly what needs to be in each file
- Students will learn how to view and make changes on Calyx Point
- In this modern course, students will learn all of the skills necessary to become a successful mortgage loan processor and be able to use these skills in their day-to-day working life
- From how to prepare a loan package to submitting a file to underwriting and getting an "approved with conditions" status, these lectures are designed for any one who is interested in starting a career in real estate but that would prefer not be in sales
- With real world examples demonstrating exactly how to execute each step of the mortgage process, they will find out exactly what to do (and what not to do) to prepare a file to the level where it can be approved and be compliant with all federal and state regulations
Become a Mortgage Loan Processor at UDEMY Curriculum
Introduction
1. Loan origination
2. Income and assets
3. Credit and liability information
3.1. Credit and liability example
4. Submitting the loan to underwriting
4.1. Factors that affect approvals
5. Loan approval
6. Obtaining loan conditions
What documents are needed on each and every file
What disclosures are necessary for a compliant file
A quick interruption
1003 Uniform residential loan application
Loan Estimate
Truth-in-lending disclosure statement
Affiliated business disclosure
Borrower signature authorization
Borrowers certification and authorization
How to complete a verification of employment (VOE)
How to complete a verification of deposit (VOD)
Homeowners insurance (HOI) request process
Title documents request process
Homeowners insurance invoice
Insurance binder example
Payoff request using a mortgage statement
Uploading a Fannie Mae 3.2 file
How to request DU or LP and how to reissue credit
Date tracking for the entire loan process
Generating initial loan documents for borrower signature
Using a lenders document-less process
How to submit a file to underwriting
Viewing all loan documents saved and archive
Common minimum credit score requirements
Debt to income ratios processors need to know
Calculating the loan to value for specific loan programs
Processors specific PITI calculation
Partnering with credit repair companies to help borrowers qualify
Using a loan origination software (LOS) that easy and fast to use for processors
Transaction journal example
CRM reports
Compliance checklist for each loan closed
Enjoy the process of helping others
Thank you
Bonus: What I recommend
Become a Mortgage Loan Processor at UDEMY Faculty details
Become a Mortgage Loan Processor at UDEMY Entry Requirements
- Prerequisites: Must understand English.
- Education: High School Diploma level Mathematics
- Not mentioned
Other courses offered by UDEMY
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