Complete Mortgage Processing Blog

Coaching For Success –Part 2

Mortgage Trainer — Sat, 19 May 2012 23:16:33 +0000

A Coach May Be Just What You Need

Let’s continue our discussion about career coaching for mortgage professionals…

You may already know about our e-learning options for mortgage professionals through CompleteMortgageProcessing.com (CMP) but did you know that CMP offers a variety of custom coaching options to assist loan officers and processors nationwide. Some of the session topics we offer for mortgage professionals include:

1. Getting started as a loan officer

2. Planning a career as an in-house processor

3. Launching and expanding a contract processing business.

4. Developing an orientation program for your team

5. Starting a staff training program to enhance performance

6. Learning to process loans

7. Learning to read a rate sheet and program matrix

8. Learning to work with automated underwriting systems.

9. Developing a system to decrease turn-around time from application to funding

10. Managing conflict within the office and more…

CMP coaching sessions may be delivered in person for those in the Las Vegas area. All others are delivered via online webcasts which includes workbooks, homework and case studies.

For more details on career coaching for mortgage loan professionals, please visit our website at CompleteMortgageProcessing.com

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Coaching For Success –Part 1

Mortgage Trainer — Sat, 19 May 2012 14:17:59 +0000

A Coach May Be Just What You Need

Many mortgage professionals are now relying on the expertise of a coach to help them enhance their overall performance. While traditional training provides a solution for general knowledge, coaching zeroes in on issues that are unique to your business. A coach will expose you to techniques for growing your business using your existing resources. They are non-judgmental and work with you on your time and your terms. Getting an outside perspective on your career or business can be invaluable.

There are many ways to find a coach. You can begin by consulting industry veterans. Many of them will already have access to a coach or mentor. You can also consult online coaching directories. Once you’ve made the decision to work with a coach, how do you choose one that’s right for you? First, you will need to determine what it is you would like to achieve. Then interview your coach candidate to make sure that their program will meet your needs. Be sure to ask:

1. How are the coaching sessions delivered?

2. Is there a prerequisite for participating?

3. How long is the entire coaching program?

4. What will I need to do to ensure my success?

5. What support options (if any) are available after our session ends?

6. What is the cost of the coaching program?

From there, be prepared to relay to your coach what your goals are, what your biggest challenges are, and any other concerns or special requests.

Stayed tuned for Part 2 later today…

For more details on career coaching for mortgage loan professionals, please visit our website at CompleteMortgageProcessing.com

This content is copyrighted and may not be used without the express written permission of the author

Ask the Mortgage Trainer: Is a Contract Loan Processor Right for Me?

Mortgage Trainer — Sat, 19 May 2012 00:44:49 +0000

The life of a contract loan processor is very different than that of an in-house processor. Out of sheer necessity, a contract loan processor will typically know much more than his or her in-house counterpart. Even still, there is a lot more to consider when thinking about using a contract processor to leverage your time. Here’s how we answered an inquiry about that topic:

Is a Contract Processor Right for Me?

Q. I’m overwhelmed and giving some serious consideration to using a contract processor. However,

I’ve heard a few horror stories. How can I go forward with this plan and make sure that I don’t become the next one.

A. It’s very wise to consider all the areas of your business that could be impacted by the use of a contract mortgage loan processor. A good processor will give your business a boost like you never imagined. However, a bad one could kill it. So its important to conduct your research before turning over a file. Here are 10 questions that you’ll want to get answers to:

1. What do you consider to be your area of expertise?

2. How many processors do you have on staff?

3. What is their level of experience?

4. What lenders and title companies have you worked with in the past?

5. How many brokers are you currently processing for?

6. What are my options for getting my file to you?

7. What service guarantees do you offer?

8. What does your processing service include? This is really important. Every company works different.

9. How are underwriting conditions handled?

10. What method do you use to provide status updates?

11.What is your average turn-around time?

Other questions will come to mind as you get into this detailed discussion. At its conclusion, you’ll feel comfortable with hiring that processor or feel sure that you need to keep looking.

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Underwriting Express Tip#5

Mortgage Trainer — Fri, 18 May 2012 20:18:34 +0000

Stay Actively Involved From Application to Funding – When it comes to the mortgage business, there’s a real truth to the saying, “It ain’t over til it’s over!” So keep your eye on the ball even after you’re clear-to-close. Until the loan is funded and disbursed, there could be a number of the things that require your prompt attention.

Set the expectation for your borrower so they will know what’s in store. It’s much easier to work through turbulents with an educated borrower than it is with one who is nervous, scared or not too fond of surprises. Be sure to follow-up with both the title company and the lender’s funding department to make sure that everyone is on the same page.

For more fantastic loan processing tips, please visit our website at www.CompleteMortgageProcessing.com

Underwriting Express Tip #4

Mortgage Trainer — Wed, 16 May 2012 13:15:04 +0000

Learn and Comply with the Lender’s Policies and Procedures-

Every lender has a way that they prefer to do business. Make sure that you submit your loans in the manner suggested. Learn what the deal breakers are and then avoid them. Pay special attention to the steps necessary to stay in compliance; especially when it comes to forms and fees. Remember to make sure that your loan file information is consistent from application to funding. If there are 3 active credit cards showing on the credit report, then your 1003 should reflect the same. Know when your documents expire. Get an updated credit report, bank statement or pay stub before the one in your file becomes invalid.