Sponsored by Great American Title Agency / Tracie Johnson
Cost: $10 CASH AT DOOR
Instructor: James Passamonte
At the end of this course, students will have a better knowledge of the loan process and how it affects their buyers.
They will understand how the FICO credit scoring system works and how the FICO score affects their buyer’s ability to purchase as well as how the score affects their interest rates. Discussion will include criteria used to qualify a buyer and types of fees lenders will charge.
Students will emerge with knowledge on how to interview potential lender partners. They will also be presented with examples of mortgage fraud and how RESPA and APR works and affects their transactions. An overview of TRID guidelines will help understand how to avoid closing problems.
A review of the purchase contract and prequel forms will also help the student understand the importance of filling out these forms correctly and the importance of their accuracy.
Students will also be aware of potential pitfalls and roadblocks that can affect their buyers and their closings.