Below is a list of the topics we cover during our
Seminars and also on the Training CD's!
We Train Loan Officers To:
- Speak to more people that may be interested in a Reverse
Mortgage.
- Complete a loan application accurately and legibly.
- How to properly stack an application.
- Perform their tasks and return conditions that make sense the
first time.
- Understand the details and variables of a Reverse Mortgage and
how to share it with a Senior.
- Use our Reverse Mortgage Website as a way to generate income.
- Offer a Reverse Mortgage as a service and not a product.
- Use the GFE financial calculator.
- Explain GFE's, TIL's, APR's, and closing costs to borrowers so
they understand them.
- Improve Communication skills.
- Improve House call skills.
- Get a commitment from a borrower.
- Understand secrets (there are four!) of successful loan
officers.
- Understand specific and tested marketing programs that will
bring in business - guaranteed.
- Utilize direct mail pieces, lead companies, fundraising
programs, email ideas, website solutions, inexpensive
advertising ideas, pre-written letters, flyers, knowing how to cultivate
referrals and more.
Guidelines for Taking a Detailed Loan Application:
- Getting Organized.
- Conversation Sheet.
- Things to Do Today
- The Pre-Application Interview.
- Additional Information Checklist.
- The Face-to-Face Interview.
- Explain the Reverse Mortgage Program.
- How Much the House is worth.
- How to get the payoff amount from the Mortgage Lender.
- Addendum to Good Faith Estimate.
- Lock-In Agreement.
- The Truth-in-Lending Disclosure.
- Completing the Loan Application.
- Checklist of Documents Needed at Loan Application.
- Equal Credit Opportunity Notice.
- Notice Regarding Your Uniform Residential Appraisal Report.
- Mortgage Servicing Transfer Disclosure.
- Authorization to verify credit.
Processing the Loan:
- Required Documents.
- The Mortgage Credit Report.
- The Uniform Residential Appraisal Report.
- Answers to the Most Frequently Asked Questions.
- Submitting the Loan Package.
- Documentation Needed Checklist.
Federal Regulations & Compliance:
- Equal Credit Opportunity Act.
- Annuity Disclosures for Reverse Mortgages
- Notice Regarding Your Right to an Appraisal Report.
- (RESPA)
Disclosures
- Good Faith Estimate.
- Addendum to Good Faith Estimate.
- Mortgage Servicing Transfer Disclosure.
- Truth-in-Lending.
- Notice of Right to Cancel.
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