Master The New 1003 As A Mortgage Loan Processor, Mlo, & Uw
Last updated 3/2022
MP4 | Video: h264, 1280x720 | Audio: AAC, 44.1 KHz
Language: English | Size: 779.59 MB | Duration: 1h 32m
Mortgage Masterclass for Mortgage Loan Originators, Processors, & Underwriters: Includes 3 Instructor-led examples
What you'll learnCorrectly complete an entire NEW 1003 with all the added sections and subsections
Comprehend key sections that determine 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
RequirementsA computer or laptop
Basic English
DescriptionDid 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 messaginglifetime 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 determine 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!
OverviewSection 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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