A profession in the real estate community can be a very rewarding one. As a loan originator, banker, Realtor, or attorney you have the opportunity to touch and enrich many different lives. No other industry provides you with the ability to get almost instant gratification from helping your customers to achieve the dream of home ownership and financial stability.
This action-packed class focuses on the largest portion of the home ownership journey - the mortgage. The mortgage industry is changing faster than it ever has in the past. Many loan officers and companies that have done very well over the past three years are already starting to feel the effect of lower volumes and shrinking margins due to the dramatic decrease in refinance transactions. For those new to the business, you need to know how to survive in a different market place. For those veterans and managers, you need to understand the new products available and how to use them to maintain volume and profits.
This course covers important topics such as initial disclosure requirements, RESPA requirements, case studies, and recent litigation trends. The course and materials are presented in a way so that you can use the information to increase your production.
- 2005 and 2006 mortgage outlook
- Mortgage pricing
- Initial disclosures and loan document requirements
- RESPA requirements and case studies
- Litigation trends in the mortgage industry
- Understanding and how to sell the new mortgage products
- Understanding your client's needs and how to evaluate the proper mortgage product.
- The attendee will be able to discuss ethics in the professional arena.
- The attendee will be able to identify RESPA requirements.
- The attendee will be able to review where mortgage rates come from.
8:30 a.m. - 10:00 a.m.
I. Ethics In The Professional Arena
A. What Are Ethics?
B. Ethics vs. Morals
C. Ethics vs. Legal
10:00 a.m. - 10:10 a.m.
10:10 a.m. - 11:00 a.m.
A. Answers And Discussion
B. Scenarios Related To Ethics In The Work Place
C. Recap With Questions And Comments
11:00 a.m. - 12:00 p.m.
III. Introduction And Outline
A. Current Status Of The Real Estate Market And Mortgage Industry
B. Forecasts For 2005 And 2006
C. How To Cope With A Changing Mortgage Market – Going From The Easy Money Of Refinancing To Relationship Building Through Purchase Transactions
12:00 p.m. - 1:00 p.m.
Lunch (On Your Own)
1:00 p.m. - 2:00 p.m.
IV. Where Do Mortgage Rates Come From? (The Correct Answer Will Surprise
A. What Effect Does FED Rates Changes Have On Mortgages?
B. Evaluating The Newest Mortgage Products (Interest Only ARMS, etc.)
C. How To PROPERLY Evaluate The Correct Loan Program For Your Client
2:00 p.m. - 2:10 p.m.
2:10 p.m. - 3:00 p.m.
V. Initial Mortgage Disclosures, The Legal Requirements And How To Use
Them Correctly To Solidify Your Relationship With Your Client
A. How To Make Sure That You Are Communicating The Total Effect Of The Transaction To Borrowers Through The Internet
B. The Different Types Of Acceptable Approval Letters
C. Different Disclosures For Bankers And Brokers
3:00 p.m. - 4:30 p.m.
VI. RESPA Requirements
A. Case Studies Of RESPA Violations (They Will Surprise You!)
B. Latest Real Estate Lending Litigation Trends
C. How To Protect Yourself From Lawsuits