Last updated 3/2022MP4 | Video: h264, 1280x720 | Audio: AAC, 44.1 KHzLanguage: English | Size: 779.59 MB | Duration: 1h 32m

Mortgage Masterclass for Mortgage Loan Originators, Processors, & Underwriters: Includes 3 Instructor-led examples

What you'll learn

Correctly complete an entire NEW 1003 with all the added sections and subsections

Comprehend key sections that detee if loans are approved or not

Become an expert on the NEW 1003 so you can assist borrowers and other co-workers

Land a job with a top lender thanks to your increased knowledge

Prevent fraud (Save you from losing your license)

Learn where to enter income and assets on the NEW 1003

Discover where the new demograpgics information needs to be entered

Learn what changes have been made to the NEW 1003 so you can confidently help borrowers and others

Requirements

A computer or laptop

Basic English

Description

Did you know the new residential loan application or NEW 1003 is now required for all borrowers to be completed? Are you a loan originator, loan officer, loan processor, or underwriter or planning to become one and haven't gone over this document yet? The old 1003 is out and the new 1003 is in and has new sections and is now 9 pages long. This document can make or break borrowers which is why you need to master this document if you want to close more loans. Besides that, you need to prevent fraud by knowing if information entered is accurate and truthful by noticing errors or information that doesn’t make sense or doesn’t match which will be covered in this course. Hi, my name is Joe Correa, and I’m the CEO and founder of Finibi Mortgage, a licensed mortgage brokerage business based out of Orlando, Florida. I’ve closed hundreds to mortgage loans and have taught over 30,000 thousand students in 148 countries around the world.Knowing how to read, understand, and complete this document will increase your income and prevent you from losing your license. When you complete the new 1003 correctly or properly, you can increase the amount of loans closed which will increase you total commissions, bonuses, and overall loan production. Imagine closing just 1 more loan per year by having this new knowledge. This would equate to $4,000 - $15,000 as a loan originator, loan processor, or underwriter. (Loan originators are paid on a commission or compensation basis, loan processors are paid a salary or per loan closed fee but can recieve bonuses based on loan production, and underwriters are paid a salary plus bonuses based on loans closed so all will benefit by mastering the new 1003.)Can you use an extra $4,000 - $15,000 per year?This course will teach you how to interpret the new 1003 and all its sections and subsections, you will also learn what things a borrower should never do after being approved for a loan. Besides that you are going to learn what new information is required on the updated 1003 so that you know what needs to be double checked and go over this document.THIS COURSE INCLUDES:3 complete instructor-led examples3 course assignments to put into practice what you're learning5 course pdf documents with samples for you to complete and follow along with this course24 hour access to your premium instructor via Udemy Q&A messaginglife access to the courseexercises to help you implement what your learningCourse certificate upon 100% course completion30 day money back guaranteeTHIS COURSE WILL TEACH YOU TO:Correctly complete an entire NEW 1003 with all the added sections and subsectionsComprehend key sections that detee if loans are approved or notBecome an expert on the NEW 1003 so you can assist borrowers and other co-workersLand a job with a top lender thanks to your increased knowledgeIncrease your income by closing more loansPrevent fraud and save you from losing your licenseIf you want to be a success in the mortgage industry, you need to take this course and learn how to master the new 1003 as a mortgage loan originator, mortgage loan processor, or mortgage underwriter. Click on the enroll button right now to get started. I’ll see you inside the course!

Overview

Section 1: Introduction to the course

Lecture 1 Course introduction

Lecture 2 Your instructor

Lecture 3 What is the 1003?

Lecture 4 Who should take this course?

Lecture 5 Why you should master the new 1003

Section 2: The 1003 or uniform residential loan application overview and differences

Lecture 6 What's the difference between the old 1003 and the new 1003?

Lecture 7 The new 1003 section 1: borrower personal information, income, and employment

Lecture 8 The new 1003 section 1c, 1d, 1e: additional borrower income, and employment

Lecture 9 The new 1003 section 2: financial Information on assets and liabilities

Lecture 10 The new 1003 section 3: financial Information on real estate

Lecture 11 The new 1003 section 4: loan and property information

Lecture 12 The new 1003 section 5: declarations

Lecture 13 The new 1003 section 6: acknowledgements and agreements

Lecture 14 The new 1003 section 7 and 8: military service & demographic information

Lecture 15 The new 1003 section 9: loan origination information

Section 3: URLA 1003 complete examples for both purchases and refinance transactions

Lecture 16 URLA 1003 conventional purchase example part 1

Lecture 17 URLA 1003 conventional purchase example part 2

Lecture 18 URLA 1003 conventional refi cash out example part 1

Lecture 19 URLA 1003 conventional refi cash out example part 2

Lecture 20 URLA 1003 VA cash out example

Lecture 21 URLA 1003 VA Cash out sections 5 through 9 example

Section 4: Lender loan information and important things to consider

Lecture 22 URLA lender loan information on a conventional purchase

Lecture 23 Lender loan information on a VA cash out loan

Lecture 24 Reviewing the 1003 for errors and mistakes

Lecture 25 What things should you teach your borrower not to do once they are approved

Section 5: Course recap and thank you

Lecture 26 Final words

Lecture 27 Thank you

Loan originators who want to master the NEW 1003 or Uniform Residential Loan Application,Mortgage loan processors who want to become experts on the new 1003 and all its sections and subsections,Mortgage underwriters who want to find and quickly assess borrower information,Anyone who is interested in masterin the NEW 1003 to get more loans approved and increase their income,Anyone who wants increase their mortgage skills and increase their income in the process

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