Telephone – Webcast – Audio/Visual CD Rom
12:00 – 1:30 PM Pacific Time
1:00 – 2:30 PM Mountain Time
2:00 – 3:30 PM Central Time
3:00 – 4:30 PM Eastern Time
With the collapse of the Sub-Prime lending market, many lenders are actively looking for an alternative set of loan programs to meet the needs of clients and customers with less than sterling credit. The Federal Housing Administration’s (FHA) mortgage loan programs have always allowed for manual underwriting, alternative credit sources, compensating factors and flexible, common sense underwriting. And with FHA‘s new “FHA Secure” loan program, there is at least one program to help qualified borrowers cure their sub-prime loan that is now in default. We will go over the basics of FHA financing: loan amounts, down payment requirements, underwriting and property guidelines; and how to originate, process, underwrite and close FHA loans efficiently and how to price them for profitability. We will also review recent regulatory changes and their implications for FHA borrowers and lenders.
FHA PROGRAM HIGHLIGHTS
§ Underwriting Documentation Reviewed
§ Employment and Income Explained
§ Allowable and Required Funds for Closing
§ Liabilities and Credit
§ Purchases and Refinances Reviewed
§ Property and Appraisal Analysis
§ Mortgage Insurance Premiums – Up-Front and Monthly
§ Eligibility Requirements
§ Regulatory Update – What’s New & What’s Changed
WHY SHOULD YOU PARTICIPATE?
This session is a cost-effective way to bring your mortgage origination and operations staff up to speed on closing more loans using FHA financing and refresh their knowledge of what is new and available from FHA. You may train as many individuals as you like for one set price. There will be no travel costs, time lost from work and no one will be required to leave the institution.
WHO SHOULD ATTEND?
This informative session is designed for those involved in the origination, processing, underwriting and shipping/insuring of mortgage loans that meet FHA/HUD property and underwriting guidelines. It will also be a good refresher for quality assurance and auditing staff who have to review FHA/HUD loans for post-closing due diligence, and for loan production managers looking to expand their firms product line and customer base.
ABOUT THE PRESENTER – James L. Smith, JLS & Associates
Jim Smith is a thirty year veteran of the mortgage lending industry, and has been involved in the origination, processing and underwriting of residential real estate loans since 1977. He has trained literally thousands of loan officers and processors during this thirty year span in quality origination and processing techniques and systems. He has run multi-branch regions for various regional and national mortgage banking and commercial banking entities, including a major Fortune 500 bank. He has been a Conventional, FHA/DE and VA underwriter since 1986. He is on the Faculty of FannieMae’s Housing Finance Institute where he teaches courses in Underwriting, Property and Appraisal Review, Quality Assurance and Fraud Detection, and Underwriting the Self-Employed Borrower.
This training method allows unlimited listeners on your office speaker phone. By choosing the webcast option, participants will also be able to view online visuals as the presentation is delivered. Registrants receive a toll-free number and pass code that will allow entrance to the seminar. The session will be one hour and fifteen minutes in length with an additional fifteen minutes for questions and answers. Seminar materials will be sent prior to the broadcast along with hook up instructions. Your pin number, hookup instructions and handouts can be emailed to you or sent U.S. Mail. If you would like them emailed you will need the most current version of Adobe Acrobat Reader available free at www.adobe.com.
The CD Rom is complete with the audio track and visual presentation from the original webcast, question & answer sessions, plus participant handouts. You will also have the ability to contact the presenter with follow-up questions. With this CD, you will have an “off-the-shelf” training program for your review, for use by those who were not able to attend the live seminar or for future training purposes. Affordable, professional training, when and where you choose!
*CD Rom for PC use only