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INDUSTRY RELATED COURSE DESCRIPTIONS

Loan Origination Classes

All classes listed in this section are taught on a request basis.  If you would like to be put on a list to be contacted when the class is requested, please send an email to: info@powertraininginc.com and list the class you are interested in.


Originating in Today's Market - approximate classroom time 6 hours

$175 per person (no NMLS credit)

Course Highlights:

  • Explanation of the credit report and score to the borrower;
  • Analyzing credit reports to predict future repayment patterns;
  • Proper employment determination and classification of income for qualification;
  • Asset determination and eligibility for loan approval/closing;
  • Liabilities that may cause underwriting issues;
  • Anticipation of file challenges and accompanying troubleshoots;
  • Working effectively with your various lenders in an ever-evolving market;

FHA – What’s New! – approximate class time is 3 hours

$95 per person (no NMLS credit)
Course Highlights:

  • Loan Limits / Seller Contributions
  • MIP Factors
  • Current Streamline Refinance Changes
  • Short Sale Borrower Requirements
  • Appraisal Updates / Validity Periods
  • Calculation of loan amount and monthly premiums
  • Basic required disclosures
  • Income/Employment
  • Credit/Liability differences / Cash to close requirements

*VA:  Loans for Our Veterans – approximate class time is 4 hours

$95 per person (no NMLS credit)

Course Highlights

  • Calculating residual income
  • Veteran entitlement calculation including remaining entitlement worksheets;
  • Required disclosures;
  • “Allowable” fees and the Loan Estimate
  • Basic income and asset requirements
  • Working the loan analysis

Mortgage Processing Classes

Processing 101 - Basics - approximate classroom time 12 hours

$225 per person (no NMLS credit)
If you are seeking entry into the mortgage industry in a processing or operational role, Processing 101 is for you!  Power Training starts with the basics and quickly builds to the complexities of loan process flow and analysis.  We provide you with the most valuable tools, guides, and resources that will empower you to work on loans immediately.  This course is designed for Processors (all levels), cross-functional employees, Senior Processors who need a “refresher”, and Originators who desire more involvement in the loan process.

Course Highlights:

  • The PERFECT file (preparation and submission to Underwriting);
  • Documentation University (appraisal, credit, title, verifications of employment/assets/credit, etc.);
  • Calculating income and associated Underwriting qualification;
  • The BEST checklists in the industry!

Advanced Processing - approximate classroom time 6 hours

$175 per person (no NMLS credit)
Advanced Processing is designed for processors who have knowledge of “the basics” and strive to take their processing to the next level.  This course covers detailed analysis of each loan segment.  In addition, each participant will receive a resourceful, extensive, and user-friendly checklist.

Curriculum will cover:         

·         Calculating different types of income including base pay, overtime, bonus, commission, rental income and “other types”;

·         Documenting and sources funds to close including down payment, closing costs, discount points and establishment of impound accounts including use of gift funds and required documentation.

·         Explaining to borrowers how to write credit and inquiry explanation letters.

·         Complete overview of tax returns including sole proprietorships, partnerships, S-Corporations and Corporate income and how to figure out what schedules you need.

·         Learning how to calculate income from interest, dividends, rental income and promissory notes using the Fannie Mae 1084 Cash Flow Analysis.


Processing and Submitting the FHA Loan – approximate class time 4 hours

$105 per person (no NMLS credit)

·         This course is designed for Processors or Originators who need to better prepare their file for underwriting.  Includes hands-on training in completing the 92900 LT, HUD Addendum (92900a) and Conditional Commitment (92800.5b), surfing the government website to look LDP’s & GSA’s and putting your file in order for underwriting.  With turn times what they are, getting through the first time with minimal conditions is a bonus!


Tax Returns – How Simple It Is! – approximate class time is 3 hours

$95 per person (no NMLS credit)

Highlights

  • Learn all Schedules and associated components;
  • Assess the 1st page of the return to determine required Schedules;
  • Calculate interest and dividend income;
  • Calculate Schedule C income and Schedule E;
  • Recognize potential problems on a partnership return and learn to comprehend the K-1;
  • Recognize income from the partnership for qualification.
  • Learn how to complete income on Fannie Mae forms 1084/SAM/AGI

Top Ten Appraisal Deal Killers / Appraisal Fraud – approximate class time 2 hours

$75 per person (no NMLS credit)
Are your appraisals no longer flowing through underwriting?  Are you challenged with new or revised appraisal parameters?  As more loans become subject to the foreclosure process, appraisals will undergo intense scrutiny to ensure values are intact.  This course will cover your responsibilities and accountability if your loan does go into foreclosure and the value is investigated.  Attendees will receive underwriting checklists used to analyze value and comparables.  This course will cover a wealth of critical information and how to see/spot fraud in the appraisal.

 

 



 
© 2019 Power Training. All rights reserved.
Course subjects, pricing and scheduling are subject to change.
NMLS Provider #1400059 | TREC Provider #0495
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512-451-9112 | P.O. Box 998, Manchaca, Texas 78652
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