This is the Updated 2014 Edition of the first book in the "Practical Guide" series for the mortgage industry. The May 2014 Version has been updated to meet the requirements of the SAFE Act, CFPB, Dodd-Frank and many other changes. We have also made many of the changes recommended by Amazon readers and reviewers. With all of the changes in the industry, keeping this product up-to-date is a full time job.The book covers all of the vocational skills required of the loan originator, but also includes all Federal law, ethics, predatory lending and fraud components required by the Federal SAFE loan originator licensing Act of 2008.Published since 1992, and updated annually, this 390 page textbook was written as an answer to the "sink-or-swim" training methods of many mortgage firms. The format is designed to give the newly initiated loan officer/agent, lender, processor, or other initiate the practical information they need to do the loan officer's job.The reader learns how to understand rate and point quotes, how to use a financial calculator, how to make basic computations customers require, how to understand loan programs and compare product features. The student progresses through understanding loan specifications - Conventional Conforming, Jumbo, FHA/VA and Sub-Prime program guidelines - to a practical understanding of ratios, income, assets and closing costs, debts and credit history. This is then placed in the context of the loan application - how to collect all the required documents and disclosures and supervise a loan from application to closing. Beyond the basics, students learn how to finance various property types; condos, PUDs, new construction and investment property. A detailed chapter on refinancing addresses the issues which most often confront the loan officer in a period of heavy refinancing - 10 reasons to refinance.Finally, understanding how loans are made in the secondary market and the basics of interest rate quoting and behavior are covered.This product is submitted for approval for use in continuing education in all states which have, or are adopting, a requirement. Many companies use this product as a handout to prospective new loan officers. Many loan officers give this product to their referral sources to help educate them to the requirements of the industry.

This is the Updated 2016 Edition of the first book in the "Practical Guide" series for the mortgage industry. The July 2016 Version has been updated to meet the requirements of the TRID Rules, SAFE Act, CFPB, Dodd-Frank and many other changes. We have also made many of the changes recommended by Amazon readers and reviewers. With all of the changes in the industry, keeping this product up-to-date is a full time job. The book covers all of the vocational skills required of the loan originator, but also includes all Federal law, ethics, predatory lending and fraud components required by the Federal SAFE loan originator licensing Act of 2008. Published since 1992, and updated annually, this 390 page textbook was written as an answer to the "sink-or-swim" training methods of many mortgage firms. The format is designed to give the newly initiated loan officer/agent, lender, processor, or other initiate the practical information they need to do the loan officer's job. The reader learns how to understand rate and point quotes, how to use a financial calculator, how to make basic computations customers require, how to understand loan programs and compare product features. The student progresses through understanding loan specifications - Conventional Conforming, Jumbo, FHA/VA and Sub-Prime program guidelines - to a practical understanding of ratios, income, assets and closing costs, debts and credit history. This is then placed in the context of the loan application - how to collect all the required documents and disclosures and supervise a loan from application to closing. Beyond the basics, students learn how to finance various property types; condos, PUDs, new construction and investment property. A detailed chapter on refinancing addresses the issues which most often confront the loan officer in a period of heavy refinancing - 10 reasons to refinance. Finally, understanding how loans are made in the secondary market and the basics of interest rate quoting and behavior are covered. This product is submitted for approval for use in continuing education in all states which have, or are adopting, a requirement. Many companies use this product as a handout to prospective new loan officers. Many loan officers give this product to their referral sources to help educate them to the requirements of the industry.

This is the Updated 2014 Edition of the first book in the Practical Guide series for the mortgage industry. The January 2014 Version has been updated to meet the requirements of the SAFE Act, CFPB, Dodd-Frank and many other changes. We have also made many of the changes recommended by Amazon readers and reviewers. With all of the changes in the industry, keeping this product up-to-date is a full time job. The book covers all of the vocational skills required of the loan originator, but also includes all Federal law, ethics, predatory lending and fraud components required by the Federal SAFE loan originator licensing Act of 2008. Published since 1992, and updated annually, this 408 page textbook was written as an answer to the sink-or-swim training methods of many mortgage firms. The format is designed to give the newly initiated loan officer/agent, lender, processor, or other initiate the practical information they need to do the loan officer's job. The reader learns how to understand rate and point quotes, how to use a financial calculator, how to make basic computations customers require, how to understand loan programs and compare product features. The student progresses through understanding loan specifications and underwriting guidelines to a practical understanding of ratios, income, assets and closing costs, debts and credit history. This is then placed in the context of the loan application - how to collect all the required documents and disclosures and supervise a loan from application to closing. Beyond the basics, students learn how to finance various property types; condos, PUDs, new construction and investment property.

A complement to the Loan Officer's Practical Guide to Residential Finance - you know how to make a mortgage loan, how do you go to get one? This product teaches you how to understand the needs of your customer or referral source - then solve them. For each situation, there are materials and tools for addressing solutions. The reader learns the basic job of a loan officer from the sales perspective. Understanding the primary sources for business, the new lender is initiated into the process of identifying a territory and the markets within that territory. Based on this analysis the loan officer proceeds to learn how to market to referral sources - real estate agents, homebuilders, attorneys, financial planners/accountants, and other lenders as well as a multitude of sources we call secondary referral sources. Each business source requires it's own approach and a campaign for each referral source type is identified, including sample letters ready to use in Word. Mail Merge instructions are included to help the loan officer create their own individualized, custom mass-mailings.

The Loan Officer's Practical Guide to Selling and Marketing Mortgage Services - Developing a Loan Officer Marketing Plan You know how to make a mortgage loan, but how do you go to originate one? This product teaches you how to understand the needs of your customer or referral source - and then solve them. For each situation, there are materials and tools for addressing solutions. The reader learns the basic job of a loan officer from the sales perspective. Understand how to source loans from: Real Estate Agents Home Builders Property Managers Financial Planners Investment Advisers Accountants Attorneys Understanding the primary sources for business, the new originator is initiated into the process of identifying a territory and the markets within that territory. A workbook assists in the planning of strategy. Tools, letters, presentations, flyers, and other resources are provided to help work these sources. Other marketing tools include Open House Spreadsheets in Excel, Rate sheets, Application Kits, Forms for Complete Applications, Marketing and Promotional Materials, Product Discussion Sheet, Customize-able Marketing Letters to Realtors, Builders, Accountants and Financial Advisers. Similar, but less robust, products are sold for nearly 5 times the cost. All of our products are designed to give the highest possible value.