FHA Training And The Benefits of FHA Training For Your Loan Officers


FHA Training can be the difference between an office struggling to get files approved and making a lot of money by submitting clean files that get approved quickly through underwriting. While FHA is not the overall answer for every broker or loan officer, it is a product that can be used to fit certain borrowers into a loan with a great rate and very good pay for the origination. There are many benefits to having a good FHA training for your office.

If your FHA training is effective, your loan officers, or yourself, can quickly do an evaluation to know whether FHA is a better choice for your client than a conventional mortgage. Although borrowers typically only see the rate difference, the difference in MI (if it is needed on the conventional mortgage) may make the difference in whether the payment makes sense for the borrower. Not everyone is a good candidate for FHA, and going through an FHA training course and material will help in knowing which is better for the client.

Payday loansCash Advance, cash payday loans, online payday cash advance,

Like conventional mortgages, FHA loans have a loan-to-value cap. Do you know how that is calculated? FHA training will help you know whether a refinance for your client can happen through FHA. FHA has an extra fee that is usually not included on conventional mortgages. Does your office know what that fee is, how it is calculated, and how it affects loan-to-value ratios? If not, FHA training for your loan officers will teach them this and how it can help them making a difference for their borrowers.

Currently, FHA Secure offers a chance to help out borrowers who may have a mortgage late or two in recent history. However, not everyone that has a mortgage late will qualify for the FHA Secure program. Knowing these guidelines can help your loan officers and marketers target a broader market for refinancing distressed borrowers.

Finally, if an FHA file does not necessarily fit the standard loan criteria, there are ways to get exceptions through a manual underwriting of the file. These items can take someone with questionable credit or high credit ratios from being rejected to approved. If your loan officers, or yourself, do not know what these pieces of information are, then FHA training for you and your office can help save files headed for the reject pile.

Having proper FHA training will help you, and your office, find more borrowers and get their files approved in a timely manner. FHA training will also help you save files that were destined to be rejected by pointing out the strengths in the loan.


cash loan network

Loan In 60 Minutes, Up To $ 1500. No Lines, No Hassles. Highest Approval Rate. Get Quicken Loan Now!

Rating of cash loan network




Get Online Application at online payday loans.

0 comments:

Post a Comment

 
Copyright © 2013. Personal Loans
Support by USA Cash Payday Loans