Book Description

The Loan Officer's Handbook for Success is the most comprehensive training manual available today for new and seasoned loan officers. Since its first publication in 2004 it has been updated and revised annually to reflect any new and required changes within the mortgage lending industry and its now in its 2019 edition. This training manual presents not only all the many and important subjects that mortgage loan originators need to know to be successful and close more home loans but also gives you insights into the what, why, and how of mortgage loan origination: like you are actually there. It's like attending your own personal mortgage training seminar. But, with this in-depth training manual, of 475 pages and 28 chapters, you'll learn much more than you would attending a mortgage training seminar of 3-5 days. Become the professional and financially rewarding loan officer you wish to be and learn what you need to succeed! The Loan Officer's Handbook for Success is now in e-Book format and can be downloaded to your computer now and you can begin your training today! Why obtaining a current edition is so important: The mortgage lending market is very dynamic, with important loan origination and processing documents, laws, and loan products and policies that can change each year. This training manual is edited and revised every year to reflect any changes that may have occurred since the previous year. This is so important. Take a look at the list below of some of the changes that have taken place just since 2010 regarding the origination of mortgage loans: Dodd-Frank Wall Street Reform and Consumer Protection Act (signed into law 2010) Ability-To-Repay Rule (become effective in 2014) High-Cost Mortgage Rule (become effective in 2014) The Loan Origination Compensation Rule (become effective in 2014) The Loan Estimate (replaced both the Good Faith Estimate and Truth-In-Lending Statement in 2015) The Closing Disclosure (replaced the HUD-1 Settlement Statement in 2015) The Appraisal Rule (become effective 2015) New and revised Uniform Residential Loan Application (become effective 2018) New home loan underwriting guidelines from Fannie Mae's Eligibility Matrix and Selling Guide (may significantly change from year-to-year). Maximum Loan Limits: for General and High-Cost areas (sometimes changes annually). If you are a mortgage loan originator then you need to be aware of the latest changes and originate and process your home loans according to those changes in order for you and your loans to be "In Compliance". If you see a mortgage training manual being sold and it talks about completing the Good Faith Estimate then you know you are looking at a manual that hasn't been updated since 2014. The Loan Officer's Handbook for Success is edited annually and currently reflects the changes that have taken place within the mortgage lending market up to and for 2019 and reflects what's going on and is now required within the mortgage lending market.