Loan Processor Course - LBC academy
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Loan Processor Course

Loan Processor Course

Build a career in real estate

Description

Welcome to the Loan Processor course! Whether you’re new to the mortgage industry or seeking to enhance your skills, this course is designed to provide you with the knowledge and tools necessary to excel as a loan processor.

Throughout the course, you’ll gain a comprehensive understanding of the loan processing journey, from application to closing. We’ll cover essential topics such as loan documentation requirements, credit analysis, income verification, and compliance regulations.

By the end of the course, you’ll be equipped with the skills and confidence to efficiently navigate the loan processing landscape, ensuring that loans are processed accurately, efficiently, and in compliance with regulatory standards.

Key Learning Objectives:

  • Understanding the loan processing lifecycle
  • Reviewing and analyzing loan applications
  • Verifying borrower information and documentation
  • Assessing creditworthiness and risk
  • Navigating compliance requirements and regulations
  • Streamlining workflows and managing timelines

Who is this course for:

  • Individuals who aspire to become Loan Processors
  • Current Loan Processors seeking to level up their skills and knowledge
  • Mortgage professionals looking to gain a deeper understanding of the loan processing
  • Anyone interested in pursuing a career in mortgage lending or real estate finance

Join us on this educational journey as we empower you with the expertise and insights needed to thrive in the dynamic world of loan processing.

Advantages

  • Professional Growth

    Enhance your skills and knowledge in loan processing, opening up opportunities for career advancement and development within the mortgage industry.

  • Practical Skills

    Learn how to efficiently review loan applications, verify borrower information, and assess creditworthiness, equipping you with the tools to excel in your role as a loan processor.

  • Industry Relevance

    Stay up-to-date with the latest trends and regulations in mortgage lending, ensuring that you are well-equipped to navigate the dynamic landscape of loan processing.

  • Professional support

    You will get personalized support, guidance, and resources that match your unique needs, goals, and circumstances. The LBC Academy team can answer any questions.

Preview video

https://youtu.be/Z2zNyoTRFAU

Course content

90 lectures - 8 hours 20 minutes

Module 1 - Introduction

6 lectures - 26 minutes

  • Milestones: process from start to closing

    8:24

  • Key people and their roles in the process

    7:29

  • Transaction types

    4:21

  • Property types and what makes them different

    2:08

  • Program types and what makes them different

    2:00

  • Occupancy types and what makes them different

    1:28

Calyx point

6 lectures - 2 hours

  • 1003 – how to complete and where to get the information

    53:30

  • Disclosures overview

    26:10

  • Fee Sheet and LE – fee estimation and how to complete

    14:47

  • DU – what is it and how to run it

    11:20

  • LP – what is it and how to run it

    7:48

  • Ink-it and E-Loan File

    6:12

Credit

7 lectures - 30 minutes

  • Authorization – what is it and where to get it

    2:52

  • How to run credit

    3:56

  • How to review credit

    6:03

  • How to help client to improve credit (simulator and rapid re-score)

    5;04

  • When and how to reissue credit

    4:13

  • Credit supplement – what is it and why it is needed

    3:11

  • Omitted liability – what is it and how to do it

    3:57

Income

8 lectures - 1 hour 27 minutes

  • Full doc loan – how to calculate W2 income (16:20)

    16:20

  • Full doc loan – how to calculate self-employed income

    11:32

  • Full doc loan – additional income sources

    19:02

  • Full doc loan – W2 and self-employment income combined

    2:50

  • Non-QM – bank statement calculations

    29:38

  • Non-QM – DSCR – how to evaluate and analyze

    2:17

  • Non-QM – Profit and Loss statement calculations

    3:58

  • Non-QM – what is needed from CPA

    1:47

Assets

6 lectures - 25 minutes

  • What assets are acceptable

    2:50

  • In what form assets are presented

    4:26

  • How to review asset statements

    7:02

  • What is sourcing and why is it needed

    3:35

  • Gift

    2:24

  • What seasoning means and what is the term

    0:43

Escrow and Title

8 lectures - 42 minutes

  • What is escrow and why is it present in transaction

    00:47

  • What is EMD, why is it needed and what is important to keep in mind

    00:43

  • Purchase – contingency period – what is it and why it is important (FL vs CA)

    4:42

  • What is title and why is it present in transaction

    00:43

  • How and when to open escrow and title and who is responsible for the task

    1:07

  • Escrow documents – how to read settlement statement

    17:21

  • Title – how to read preliminary title report

    7:42

  • What documents are needed from escrow and title

    9;40

Pre-approval

3 lectures - 12 minutes

  • What it means to pre-approve the file

    00:40

  • Why is it needed

    00:39

  • How to complete pre-approval letter and who can issue it

    1:44

Submitting file to a lender

6 lectures - 1 hour

  • What goes into a submission package

    6:50

  • Lender specific forms – how do you know what is needed and where to find it

    4:07

  • Submission examples

    34:46

  • Lender’s disclosures – importance and timing

    3:37

  • Stages the file goes through on the lender’s side

    6:31

  • What to request while file is in review

    5:45

Approval

18 lectures - 1 hour 8 minutes

  • What it means

    00:28

  • How to review approval

    10:52

  • Standard conditions

    4:37

  • Appraisal – what is it, types of appraisals in accordance with property and occupancy type

    5:28

  • Appraisal – PIW – what is it, how do you know if you got it and what to do

    1:03

  • Appraisal – when and how to order it

    1:40

  • Appraisal order examples

    9:22

  • How to review appraisal

    7:28

  • What if appraisal comes higher or lower

    1:52

  • When and why two appraisals are needed

    1:03

  • Insurance – why is it needed

    00:27

  • Insurance types

    2:30

  • Insurance – what is needed and how to get it

    1:40

  • HOA – what is it

    1:34

  • HOA Cert – why is it needed

    1:06

  • HOA Cert – how to order (example)

    11:17

  • HOA Cert – how to review

    4:06

  • LOE – what is it and templates for most common cases

    1:21

  • Note to u/w – when, how and why

    1:00

Rate

5 lectures - 5 minutes

  • What it means to lock the rate and why it is important

    1:04

  • Keeping track of rate lock

    00:33

  • Alert to lock – what it means and what to do

    00:40

  • Rate lock extension

    00:42

  • What are impounds?

    2:30

Steps the file goes through after the approval

6 lectures - 8 minutes

  • Re-disclosures – when and why

    00:40

  • CD – what is it and importance of timing

    00:30

  • QA – what it means

    1:27

  • CTC – what it means

    00:30

  • PTF – what is it and what needs to be done

    2:26

  • Loan Documents – overview and process of signing

    1:36

  • Funding process – processor’s role

    1:15

Mortgage Insurance

2 lectures - 2 minutes

  • What is it

    00:30

  • When is it needed and why

    00:47

Communication throughout the process

7 lectures - 8 minutes

  • How and when to update your LO

    1:07

  • When and why to involve the LO

    1:00

  • Follow ups (with lender, LO, client and etc)

    1:00

  • When and why to involve AE

    00:50

  • Communication with AM

    1:06

  • Communication with AMC

    00:52

  • Communication with underwriters

    1:19

Closing

1 lecture - 2 minutes

  • Post-closing conditions – what is it and how to handle it

    2:10

Speaker

Anastasia Zhizhina

Processing Department Manager

Ana Zhizhina, a highly experienced and dedicated Senior Processor at LBC Mortgage.
Since joining the company in 2016 as a Jr Processor, Ana has successfully closed numerous deals, demonstrating her exceptional skills and expertise in the mortgage industry. With her extensive knowledge and firsthand experience, Ana is a valuable resource to her colleagues and clients.

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Don't miss an opportunity to expand your knowledge and acquire new skills by learning from the leaders in the industry! Keep up with modern real estate trends to stay ahead of the market.

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Don't miss an opportunity to expand your knowledge and acquire new skills by learning from the leaders in the industry! Keep up with modern real estate trends to stay ahead of the market and make smart decisions!

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