training overview oct 2014
TRANSCRIPT
The Funding Source Syracuse.com
The Funding Source Syracuse, The Funding Source, The Funding Source, The Funding Source, The Funding Source Syracuse
Relationships The Funding Source Syracuse, The Funding Source Funding Source Syracuse, The Funding
Source refers clients to our real estate partners
Our real estate partners refer clients to The Funding Source Syracuse
Funding Source Syracuse Funding Source
Referral business Each Loan Officer needs referral business.
That is the key to your success. Develop a personal business relationship
with Realtors, CPA’s, Financial Advisors, Attorney’s and other’s in your sphere of influence.
Likewise, Funding Source has developed referral relationships that benefit the Loan Officer through our Real Estate, Title Insurance and Appraisal affiliate companies.
Loan Officers Despite the built in relationships –
success will not occur. You are responsible for your success or failure as a Loan Officer
FS gives you access to relationships. You must develop your own relationships through that access.
80% of you will fail if you do not do as we instruct you. This is fact.
What we will do:
Provide a 4 week intensive training Provide on going mortgage and sales
training offsite and internally. Provide sales tools to help you
penetrate your market Teach you how to market yourself to
Agents
What we will do Teach you how to properly qualify a
borrower and structure a deal. Instruct you on loan products. Keep you updated through broker and
banker relationships on changing trends in mortgage lending at staff meetings.
Provide you with a Mentor who will assist you and help you grow.
What you will do
You will make it happen. If you do not TAKE ACTION you will
fail. Everything we teach you will require
ACTION on your part. Failure to act will result in failure to succeed.
You are responsible for your own success and for your own failure.
Overview of your next few weeks
Learn about mortgage lending in general
Learn how to qualify a borrower to a loan
Learn about the numerous different mortgage products out there
Read your manual to understand the nuances between those products.
Overview of next few weeks
Learn how to do a Good Faith Estimate
Learn what financial documents you will need at time of application from the borrower
Learn how to interpret and read that information
Learn how to read a credit report
Overview of next few weeks
Learn how to read a pay stub Learn how to read income tax returns Learn how to book a sales call into a
mortgage application Learn how to put together an FHA
loan and an FHA 203K loan
Overview of next few weeks
Discuss and learn the conventional products
Learn the difference between Broker products, Banker products and B/C lending products.
Learn how to price loans
Overview of next few weeks
Learn about ARMS, including Treasury Bill ARMs, Cost of Funds (COFI) ARMS, London Interbank Fund Rate (LIBOR) ARMS
Overview of next few weeks
Review 203K loans and how to structure those properly
Understand FHA ARM loans. Learn how to originate a VA loan
Overview of next few weeks
Review Banking laws and requirements
Understand Compliance issues, Fair Lending issues and other laws that affect you as a Loan Officer
Learn how to originate the self employed borrower and why that’s different
Overview of next few weeks
Shadow existing loan officers to learn what their day is like
Learn to do a Marketing & Business Plan – and do one for your business
Overview of next few weeks
Bundling of Services – how that benefits you and your borrower
Take a test at the end of your training
Post Training
You will be assigned a branch You will have a primary branch. You
will be given a secondary branch as well.
You will attend all staff meetings at the real estate office
Post Training
You will work with the Sales Manager of the branch to penetrate the Realtors
You will meet with your Mentor once a week in person and go through Action Plans with her/him
You will attend FS Staff meetings when scheduled.
Post Training You will work with the Sales Manager and
Mentor to transition you into the office. You will make sales calls to competitor real
estate offices located geographically near your home real estate office.
You will do action plans to increase your business including sphere of influence mailings, phone calling your contacts, etc.
Post Training You will begin to originate loans and
assimilate into your new branch You will rely on the home office for
marketing and loan underwriting/processing support.
You will compare what you’re doing to your business plan and, if off, review your marketing plan to see if you are doing what you need to do to be successful.