Contents
Preface ix
Part I
Getting Started 1
Chapter 1
The Mortgage Loan Officer and His Team 3
Chapter 2
How Do I Get Started? 16
Chapter 3
Mortgage Banker vs. Mortgage Broker 20
Chapter 4
The Loan Application and Process 36
Chapter 5
Types of Mortgage Loans 69
Part II
The Basics of the Job 93
Chapter 6
Loan Prequalification and Approval 95
Chapter 7
Loan Documentation 102
Chapter 8
Interpreting Credit Reports and Credit Scores 110
Chapter 9
Interest Rates: How They’re Set, How To Quote Them 123
Chapter 10
How Brokers Make Money 137
Part III
Making Yourself Successful 149
Chapter 11
Marketing Yourself 151
Chapter 12
Marketing Secrets from the Pros 159
Appendix A
The 1003 and Disclosure Forms 181
Appendix B
Ten Steps to Becoming a Successful Mortgage Loan Officer 198
Appendix C
Ten Steps to Becoming a Megaproducer ($250,000 per year) 199
Appendix D
Sample Marketing Pieces 201
Appendix E
Industry Resources 205
Appendix F
State Licensing Chart 210
Appendix G
Payments Per Thousand Dollars Financed 218
Glossary 227
Index 241
David Reed (Austin, TX) is a veteran mortgage banker who has closed more than 1,000 mortgages. He is a columnist for Realty Times and Mortgage Originator Magazine and is a member of the Mortgage Speakers Bureau. He is the author of Mortgages 101 (0-8144-7245-1), Who Says You Can't Buy a Home (0-8144-7340-7), and Mortgage Confidential (0-8144-7369-5).
-... The one common-sense book every mortgage loan officer should
have on their desk... Another long-term winner.- -Realty Times
-In an age where borrowers can choose to have all or none of their
income or assets verified to secure a mortgage, Mr. Reed does an
excellent job describing the process and alternatives for new and
potential mortgage bankers and brokers.- --The Midwest Book
Review
-Now, finally, we have a practical guide to help people get started
in mortgage lending. David Reed's latest book, Your Successful
Career as a Mortgage Broker, is not only the one common-sense book
every mortgage loan officer should have on their desk, it also
contains important information for borrowers....Reed, a Texas
mortgage lender and a contributing columnist with Realty Times, has
a long history of helping consumers....AMACOM, Reed's publisher, is
also the long-time publisher of Your Successful Real Estate Career
by Kenneth W. Edwards. The Edwards' guide is by far the best
introduction to real estate brokerage for prospective agents and
brokers. Now AMACOM has also published Your Successful Career as a
Mortgage Broker and obviously has another long-term winner on its
hands.- -Realty Times
-..comprehensive look at how to become a mortgage originator, which
route to take to success and what it takes to get there.- -
MortageDaily.com
.."comprehensive look at how to become a mortgage originator, which
route to take to success and what it takes to get there." -
MortageDaily.com
..". The one common-sense book every mortgage loan officer should
have on their desk... Another long-term winner." -Realty Times
"In an age where borrowers can choose to have all or none of their
income or assets verified to secure a mortgage, Mr. Reed does an
excellent job describing the process and alternatives for new and
potential mortgage bankers and brokers." --The Midwest Book
Review
"Now, finally, we have a practical guide to help people get started
in mortgage lending. David Reed's latest book, Your Successful
Career as a Mortgage Broker, is not only the one common-sense book
every mortgage loan officer should have on their desk, it also
contains important information for borrowers....Reed, a Texas
mortgage lender and a contributing columnist with Realty Times, has
a long history of helping consumers....AMACOM, Reed's publisher, is
also the long-time publisher of Your Successful Real Estate Career
by Kenneth W. Edwards. The Edwards' guide is by far the best
introduction to real estate brokerage for prospective agents and
brokers. Now AMACOM has also published Your Successful Career as a
Mortgage Broker and obviously has another long-term winner on its
hands." -Realty Times
..". The one common-sense book every mortgage loan officer should
have on their desk... Another long-term winner." -"Realty
Times"
"Now, finally, we have a practical guide to help people get started
in mortgage lending. David Reed's latest book, "Your Successful
Career as a Mortgage Broker," is not only the one common-sense book
every mortgage loan officer should have on their desk, it also
contains important information for borrowers....Reed, a Texas
mortgage lender and a contributing columnist with "Realty Times,"
has a long history of helping consumers....AMACOM, Reed's
publisher, is also the long-time publisher of "Your Successful Real
Estate Career" by Kenneth W. Edwards. The Edwards' guide is by far
the best introduction to real estate brokerage for prospective
agents and brokers. Now AMACOM has also published "Your Successful
Career as a Mortgage Broker "and obviously has another long-term
winner on its hands." -"Realty Times"
.".. The one common-sense book every mortgage loan officer should
have on their desk... Another long-term winner." -"Realty
Times"
"In an age where borrowers can choose to have all or none of their
income or assets verified to secure a mortgage, Mr. Reed does an
excellent job describing the process and alternatives for new and
potential mortgage bankers and brokers." --The Midwest Book
Review
“In an age where borrowers can choose to have all or none of their
income or assets verified to secure a mortgage, Mr. Reed does an
excellent job describing the process and alternatives for new and
potential mortgage bankers and brokers.” --The Midwest Book
Review
“Now, finally, we have a practical guide to help people get started
in mortgage lending. David Reed's latest book, "Your Successful
Career as a Mortgage Broker", is not only the one common-sense book
every mortgage loan officer should have on their desk, it also
contains important information for borrowers....Reed, a Texas
mortgage lender and a contributing columnist with "Realty Times",
has a long history of helping consumers....AMACOM, Reed's
publisher, is also the long-time publisher of "Your Successful Real
Estate Career" by Kenneth W. Edwards. The Edwards' guide is by far
the best introduction to real estate brokerage for prospective
agents and brokers. Now AMACOM has also published "Your Successful
Career as a Mortgage Broker "and obviously has another long-term
winner on its hands.” -"Realty Times"
"... The one common-sense book every mortgage loan officer should
have on their desk... Another long-term winner." -"Realty
Times"
"In an age where borrowers can choose to have all or none of their
income or assets verified to secure a mortgage, Mr. Reed does an
excellent job describing the process and alternatives for new and
potential mortgage bankers and brokers." --The Midwest Book
Review
.,." The one common-sense book every mortgage loan officer should
have on their desk... Another long-term winner." -"Realty
Times"
"Now, finally, we have a practical guide to help people get started
in mortgage lending. David Reed's latest book, "Your Successful
Career as a Mortgage Broker," is not only the one common-sense book
every mortgage loan officer should have on their desk, it also
contains important information for borrowers....Reed, a Texas
mortgage lender and a contributing columnist with "Realty Times,"
has a long history of helping consumers....AMACOM, Reed's
publisher, is also the long-time publisher of "Your Successful Real
Estate Career" by Kenneth W. Edwards. The Edwards' guide is by far
the best introduction to real estate brokerage for prospective
agents and brokers. Now AMACOM has also published "Your Successful
Career as a Mortgage Broker "and obviously has another long-term
winner on its hands." -"Realty Times"
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