Ask The Underwriter

2 Mortgage Training Events in December

D. Bass ~ Blog: Ask The Underwriter (Alpha Mortgage Training) — Thu, 03 Dec 2009 11:32:16 -0600

Webinar: $39.00 Income Calculation / Mortgage Lead Generation December 17th

Income Calculation / Mortgage Lead Generation in Challenging Times

The Year is drawing to a close and Mortgage Training Programs wants to make sure that you have met your goals for 2009. If you are interested in learning how to caclulate income (self-employed borrower included!) and an affordable way to generate mortgage leads, this is the class for you.

You will receive 2 CLASSES (a $249 value). Your investment: $39.00, what you learn is priceless

Limited Enrollment Available! Click here to register

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FHA JUMP START $149.00 December 15-16th

Here's a FHA Mortgage Training Course that fits in everyone's budget! This course is taught by a Wholesale FHA Underwriter. Spring into FHA with the information you need to get your loan approved. This course was designed for you to hit the ground running. This course goes over the information you need to get your FHA loan approved! These sessions fill up quickly. Reserve your spot now.

Testimonies from Novembers Class:

Maurice did an EXCELLENT JOB!! This is by far the BEST on-line course I have taken and I sincerely appreciate the knowledge he shared. Thank you so much for offering this class! Again, THANK YOU SO MUCH FOR OFFERING THIS CLASS!! I will take other classes in the future. Sincerely, Lisa S

I (found) Maurice to be very informative. He has provided us with the essential tools (U/W checklist, MIP worksheet, Refi Matrix and more), and the websites to refer to for any additional information. I am very pleased with the training.......Thanks for your help. Terri M

Limited Enrollment Available! Click here to register

SAFE Act Course by Alpha Mortgage Training

D. Bass ~ Blog: Ask The Underwriter (Alpha Mortgage Training) — Wed, 23 Sep 2009 10:37:34 -0500

SAFE Act Course on November 16th

We are currently an approved provider of SAFE Act Courses. We are currently offering an early bird discount of $279 for early registration in anticipation of approval for our 20 hour SAFE Act course.

This course is scheduled for November 16 and will be $395 after October 31st

FHA Jumpstart: Here's a FHA Mortgage Training Course that fits in everyone's budget! Jump into FHA with the information you need to get your loan approved. This course was designed for you to hit the ground running. This course goes over the information you need to get your FHA loan approved! Classes are small and fill up quickly. Reserve your spot now.

Self-Employed Borrower: How many times have you received your conditions back from the underwriter asking for schedules you've never even heard off!!! This course teaches you how to calculate income from your borrower tax returns, identify when your missing a schedule and complete a worksheet so the underwriter knows how you arrived at your income.

Alpha Mortgage Training offers instructor led on-line courses on a monthly basis. Live training available in some states. If you are looking to learn technique and theory than contact Alpha Mortgage Training. Our Courses were written by a underwriter with conventional and government experience. Our courses will help you increase your closing ratio

FHA Mortgage Training by Wholesale Mortgage Underwriter

D. Bass ~ Blog: Ask The Underwriter (Alpha Mortgage Training) — Mon, 14 Sep 2009 07:22:59 -0500

FHA Mortgage Training...by Wholesale FHA Mortgage Underwriter

September 22-23

Here's a FHA Mortgage Training Course that fits in everyone's budget!

This course is taught by a Wholesale FHA Underwriter!

CLICK HERE TO REGISTER NOW

Spring into FHA with the information you need to get your loan approved. This course was designed for you to hit the ground running. This course goes over the information you need to get your FHA loan approved! These sessions fill up quickly. Reserve your spot now.

~ Learn why your FHA loans are sitting or denied

~ Put a submission action plan together for future loans

~ Learn the calculations you need to pre-qualify your borrower

Who should take this course?

~ Loan Processors

~ Loan Originators

~ Real Estate Agents

~ Jr. Underwriters

~ DE Underwriter in need of quick refresher

The FHA Jump Start Program covers:

~ Most commonly used FHA Programs

~ Borrower eligibility

~ Disclosures

~ Calculations

~ Credit, Income, Asset Requirements

~ Packaging Tips

September 22nd-23rd/ Wed 7:30pm-9:30pm EST

Trainer: M. Morrison

Online LiveTraining FHA Mortgage Training

E-Book will be availalbe to participant after registration

We also offer 2 other training options:
1. Live Training

2. Online Training (can be taken at your leisure)

Alpha Mortgage Training has a training program to fit your schedule!

*All Training dates & fess are subject to change without notice Regular Price for course is $395.00

Mortgage Training: Tips from Underwriting Sense..into the mind of an Underwriter

D. Bass ~ Blog: Ask The Underwriter (Alpha Mortgage Training) — Mon, 17 Aug 2009 09:55:52 -0500

Tips from the course: Underwriting Sense....into the mind of an Underwriter

WHAT'S wrong with MY Internet printout!!!!

The Internet is slowly but surely eliminating the need for paper. While this is a good thing for the environment it is a....difficult transition for organizations that have to verify documents! Internet printout are okay if they:

Identify the borrower as the employee or owner of the account
Identify the credit reporting agency, employer or financial institution
Show the headers, footers and the banner portion of the printout from the web page (and included all pages printed
Include the URL (Uniform Resource Locator) address and the date and time printed

Check with your lender for any additional requirements...

D. Bass

Mortgage Underwriter & Trainer

Alpha Mortgage Training is a NMLS-approved mortgage education provider!

D. Bass ~ Blog: Ask The Underwriter (Alpha Mortgage Training) — Wed, 05 Aug 2009 21:33:14 -0500

Alpha Mortgage Training is a NMLS-approved mortgage education provider!

Atlanta, Ga , August 6, 2009: Alpha Mortgage Training (Provider ID:1400100) is officially approved as a mortgage education provider through the Nationwide Mortgage Licensing System (NMLS). We will keep you updated with upcoming course approval announcements!

The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) requires that state-licensed mortgage loan originators (MLOs) complete pre-licensure and annual continuing education. Click here for more information regarding the requirements for CE & PE.

Upcoming Training Events:

FHA Jumpstart: Here's a FHA Mortgage Training Course that fits in everyone's budget! Jump into FHA with the information you need to get your loan approved. This course was designed for you to hit the ground running. This course goes over the information you need to get your FHA loan approved! These sessions fill up quickly. Reserve your spot now.

Mortgage Training: Tips from Underwriting Sense..into the mind of an Underwriter

D. Bass ~ Blog: Ask The Underwriter (Alpha Mortgage Training) — Tue, 04 Aug 2009 08:17:23 -0500

Mortgage Training: Tips from the course: Underwriting Sense....into the mind of an Underwriter

WHY do you NEED the tax bill and hazard insurance dec page? Here's a question we get often!

I have had to go to bat with Brokers, Processors and Account Executives regarding this condition! We don't ask for these documents to give you a hard time or to make you go back to your borrower! There is actually a legitimate reason we ask for it. When a schedule of Real Estate Owned is submitted with "free & clear" properties listed we have to have accurate verified taxes and insurance to calculate the accurate debt ratio. Just as the credit report or mortgage statement verifies the mortgage we need to verify the taxes and hazard insurance. I can't begin to tell you how many properties are listed as having $150 for taxes and insurance and when the tax bill and dec page comes back it like $400-$500 a month! Save time provide tax bills and dec pages for free and clear properties.

Upcoming Training Events:

FHA Jumpstart: Here's a FHA Mortgage Training Course that fits in everyone's budget! Jump into FHA with the information you need to get your loan approved. This course was designed for you to hit the ground running. This course goes over the information you need to get your FHA loan approved! These sessions fill up quickly. Reserve your spot now.

Mortgage Training: Tips from Underwriting Sense..into the mind of an Underwriter

D. Bass ~ Blog: Ask The Underwriter (Alpha Mortgage Training) — Tue, 28 Jul 2009 10:14:29 -0500

Mortgage Training: Tips from the course: Underwriting Sense....into the mind of an Underwriter

One 1003 Please!!!

I'm going to be completely honest with you:

Ask The Underwriter: D. Bass has actually denied a loan due to multiple 1003s. Before you click unsubscribe...hear me out! The loan had four (4) 1003s in it and every on every single 1003 the borrowers worked at different jobs and made a different amount of income!

And.....No.... this was not during the stated income era...it was actually quite recent.

One thing you have to understand is all the underwriter has to go by is in the file. If the borrower signs a 1003 with 4 (four) different employment and income sections: What would you think???

Before your processor (or YOU!) submit your loan, make sure there is just one 1003 (i.e. handwritten and typed...etc.) in the file. Make sure they match!

So there you have it. Ask The Underwriter does not claim to be perfect or claim to approve every loan! .......and by the way...I really would love to hear what you think......

Upcoming Mortgage Training: FHA & Self-Employed Borrower

D. Bass ~ Blog: Ask The Underwriter (Alpha Mortgage Training) — Sun, 12 Jul 2009 22:31:15 -0500

Mortgage Training from Alpha Mortgage Training

Here are the upcoming Live On-line Training Events for August:

FHA JUMP START August 18th-19th (Taught by a FHA Underwriter)

When just one mistake in your FHA loan file could cost you weeks in underwriting and thousands of lost dollars a month, you can't afford to miss this course

SELF EMPLOYED BORROWER August 20th

Stated Income is GONE and TAX RETURNS are BACK!

How many times have you received your conditions back from the underwriter asking for schedules you've never even heard off!!! This course teaches you how to calculate income from your borrower tax returns.

We offer instructor led on-line courses on a monthly basis. Live training available in some states. If you are looking to learn technique and theory than contact Alpha Mortgage Training. Our Courses were written a underwriter conventional and government experience. Our courses will not only help you produce more effective loans, but they will also help you increase your closing ratio.

7 Habits of a Productive Mtg Professional

D. Bass ~ Blog: Ask The Underwriter (Alpha Mortgage Training) — Sun, 17 May 2009 14:56:10 -0500

HABIT TWO: Be Courteous

Have you ever done business with someone that was rude? Have you ever asked a sales associate at a store a question and you felt like you were bothering them? Do you have a co-worker that's rude to their fellow co-workers and clients?

People work with people they like. The nicer you are to your borrowers the fewer phone calls you will get. They will feel confident that you have their best interest in mind.

Live FHA Training available in various states. We also offer instructor led on-line courses. If you are looking to learn technique and theory than contact Alpha Mortgage Training. Our Courses were written by a team of mortgage underwriters with a combined 58 years of conventional and government experience. Our courses will not only help you produce more

7 Habits of a Productive Mortgage Professional

D. Bass ~ Blog: Ask The Underwriter (Alpha Mortgage Training) — Mon, 26 Jan 2009 18:58:38 -0600

7 Habits of a Productive Mortgage Professional

HABIT ONE: Knowledgeable

As a Mortgage Professional we must be knowledgeable about the mortgage process, answer the borrower's questions (honestly and without them asking: EXPLAIN THE NEXT STEPS.

I'm not just writing this because I sell mortgage courses! I am a wholesale Mortgage Underwriter and I talk to brokers all the time who are probably great sales people, but they do not understand what they are doing.

FHA Mortgage Training January 19-21 Online Live

D. Bass ~ Blog: Ask The Underwriter (Alpha Mortgage Training) — Tue, 13 Jan 2009 13:49:53 -0600

FHA Mortgage Training Course that fits in everyone's budget!

~ Learn why your FHA loans are sitting or denied

~ Put a submission action plan together for future loans

~ Learn the calculations you need to pre-qualify your borrower

FHA Mortgage Training January 19-21 Online Live

D. Bass ~ Blog: Ask The Underwriter (Alpha Mortgage Training) — Tue, 13 Jan 2009 13:48:45 -0600

FHA Mortgage Training Course that fits in everyone's budget!

~ Learn why your FHA loans are sitting or denied

~ Put a submission action plan together for future loans

~ Learn the calculations you need to pre-qualify your borrower

Illinois Loan Originator CE Requirements

D. Bass ~ Blog: Ask The Underwriter (Alpha Mortgage Training) — Sun, 30 Nov 2008 18:06:05 -0600

Alpha Mortgage Training has several online courses that will satisfy your Continuing Education Requirements.

**FHA Jump Start (6hrs)

**Sub-Prime Makeover (travel into the mind of an Underwriter!) (8 hrs)

**Fraud 101 (1 hr)

**Appraisal Review (2 hrs)

**Credit Review (2 hrs)

**Federal Regulations & Compliance (3 hrs)

Illinois Loan Originators CE's due by December 31st.

D. Bass ~ Blog: Ask The Underwriter (Alpha Mortgage Training) — Sun, 30 Nov 2008 18:00:40 -0600

Alpha Mortgage Training has several online courses that will satisfy your Continuing Education Requirements.

**FHA Jump Start (6hrs)

**Sub-Prime Makeover (travel into the mind of an Underwriter!) (8 hrs)

**Fraud 101 (1 hr)

**Appraisal Review (2 hrs)

**Credit Review (2 hrs)

**Federal Regulations & Compliance (3 hrs)

Approved Cont. Education Provider for MAINE!

D. Bass ~ Blog: Ask The Underwriter (Alpha Mortgage Training) — Tue, 25 Nov 2008 20:45:01 -0600

I just found out I am now an approved Continuing Education Provider for the state of Maine..... 2009 is going to be a GREAT year!!!

Dionne Bass

Mortgage Underwriter & Trainer

www.alphamortgagetraining.net

Continuing Education in Maine: 3 courses now approved!

D. Bass ~ Blog: Ask The Underwriter (Alpha Mortgage Training) — Tue, 25 Nov 2008 15:29:35 -0600

Continuing Education in Maine

The following courses have been approved for Continuing Education by the Bureau of Consumer Credit Protection (Maine):

FHA Jump Start (7 hours)
Sub-Prime Make Over(8 hours)
Mortgage Fraud 101 (1 hour)

We will be posting 2009 First Quarter Schedule on the website (www.alphamortgagetraining.net) and on Activerain within the next month.

Several more state are pending, we will keep you guys up to date! We're looking forward to a great 2009!

Mortgage Industry Updates: New Good Faith Estimate

D. Bass ~ Blog: Ask The Underwriter (Alpha Mortgage Training) — Wed, 12 Nov 2008 09:36:31 -0600

The Good Faith Estimate has taken a change (for the better!) This new standardized Good Faith Estimate will be required starting January 2010. You can read more at:

http://www.hud.gov/news/release.cfm?content=pr08-175.cfm

LIVE FHA TRAINING: Atlanta, Ga Area $149.00

D. Bass ~ Blog: Ask The Underwriter (Alpha Mortgage Training) — Wed, 05 Nov 2008 00:43:11 -0600

Is this workshop for you? Take this Quick Quiz and find out:

o Has your file sat on the underwriters or set up person's desk for more than a week?

o Is getting the correct FHA requirements frustrating you?

o Do you dread the thought of submitting conditions (because you KNOW more will be added!)?

o Do you play the "Should've, could've, would've" game after every file is submitted or closed?

o Does the thought of getting one more condition put you over the edge?

o Are you at the point where you're losing your clients and referral base?

o Is your stress level at an all-time high?

If you answered "yes" to even one of these questions, this workshop is exactly what you need to bring your pipeline back to life, instill confidence in your referral base and bring control back into your life!

For More Information:

_http://www.alphamortgagetraining.net/courses.php?cat_id=6[1]_

Freddie Mac Score Requirements

D. Bass ~ Blog: Ask The Underwriter (Alpha Mortgage Training) — Mon, 20 Oct 2008 20:09:14 -0500

Upcoming Changes to Freddie's Credit Requirements

These credit changes will be published in the November Guide Bulletin and will be will be effective for Freddie Mac settlements on and after February 2, 2009:

Revise requirements for minimum Indicator Scores by:

Establishing minimum Indicator Score requirements for manually underwritten mortgages secured by 1-unit primary residences as follows (Home Possible® Mortgages excluded):
- 620 for LTV/TLTV/HTLTV ratios less than or equal to 75 percent.
- 660 for LTV/TLTV/HTLTV ratios greater than 75 percent.
Establishing a minimum Indicator Score of 620 for all mortgages unless otherwise specified for a particular mortgage product in our Guide. Loan Prospector A-minus mortgages are also excluded from this requirement.
Revising minimum Indicator Scores for Home Possible Mortgages and lender-branded affordable mortgages. Details for this change will be provided in the early November Guide Bulletin.
If the borrower does not have a usable credit score, Sellers must underwrite the mortgage according to the requirements in Guide Chapter 37.

Freddie Mac Going back to 45% DTI

D. Bass ~ Blog: Ask The Underwriter (Alpha Mortgage Training) — Sun, 19 Oct 2008 19:50:36 -0500

Upcoming Changes to Freddie's Credit Requirements

These credit changes will be published in the November Guide Bulletin and will be will be effective for Freddie Mac settlements on and after February 2, 2009:

Eliminate purchases of all mortgages originated with stated income and/or stated assets, including borrower selected programs, lender-branded and marketed programs, and system-selected programs such as Loan Prospector® Accept Plus.

Establish a maximum debt-to-income ratio of 45 percent for all mortgages they purchase, except for Streamlined Refinance Mortgages.

They made a few other changes I will talk about later this week, but we expected the DTI to go back down didn't we?

Constant Renewal: July~ Daily Bread Wk 2

D. Bass ~ Blog: Ask The Underwriter (Alpha Mortgage Training) — Sun, 13 Jul 2008 00:52:06 -0500

Week 2 : Schedule it!

1 Peter 3:18(New Living Transition) ¹⁸ Rather, you must grow in the grace and knowledge of our Lord and Savior Jesus Christ.

Last week found different ways to feed ourselves. We looked at different programs, television ministries, daily devotional (email, book, etc...) This week we will schedule time to review what we have chosen. As I mentioned in this weeks worksheet you will always be busy, things will always come up and your phone will never stop ringing. Some of us have a commute that takes twenty plus minutes a day to and fro. Some us have days off during the week when no one is home. Can you leave 15-20 minutes early for work and spend that time before work with GOD? Can you put the kids down every day at 8:30pm and take 30 minutes for yourself? I can tell you from experience that it will take at least a week to get them on that schedule, but once you do it: IT'S GREAT!

What about your lunch break? Some people get that 30 minutes to an hour can make a big impact on your life. What ever you choose I suggest you choose this week and start right away. Don't wait till the beginning of the week. Just Do It! The time you spend with GOD will become so important to you that you will find your self spending more than an hour a day with him. It will be just as important to you as eating.

You'll find this weeks work sheet for week 2 (and week 1) of this month's study chapter the website: www.constantrenewal.com.

The purpose of Constant Renewal is to bring glory to GOD and lead people into a deeper and richer relationship with Him

Constant Renewal: July~ Daily Bread Wk 2

D. Bass ~ Blog: Ask The Underwriter (Alpha Mortgage Training) — Sun, 13 Jul 2008 00:46:30 -0500

Week 2 : Schedule it!

1 Peter 3:18(New Living Transition) ¹⁸ Rather, you must grow in the grace and knowledge of our Lord and Savior Jesus Christ.

You'll find this weeks work sheet for week 2 (and week 1) of this month's study chapter the website: www.constantrenewal.com

The purpose of Constant Renewal is to bring glory to GOD and lead people into a deeper and richer relationship with Him.

FHA Mortgage Training: Jumpstart FHA Course Only $80....

D. Bass ~ Blog: Ask The Underwriter (Alpha Mortgage Training) — Sun, 13 Jul 2008 00:19:31 -0500

FHA Mortgage Training Course That Fits in Your Budget!

FHA Jump-start Course has been reduced to $80 until July 18th

FHA from the comfort of your own home, study at your own pace. (SAVE GAS & Vacation hours!)

Spring into FHA with the information you need to get your loan approved. This course was designed for you to hit the ground running. A 3 hour course that goes over the information you need to get your FHA loan approved!

~ Learn why your FHA loans are sitting or denied

~ Put a submission action plan together for future loans

~ Learn the calculations you need to pre-qualify your borrower

Who should take this course?

~ Loan Processors

~ Loan Originators

~ Real Estate Agents

~ Jr. Underwriters

~ DE Underwriter in need of quick refresher

The FHA Jump Start Program covers:

~ Most commonly used FHA Programs

~ Borrower eligibility

~ Disclosures

~ Calculations

~ Credit, Income, Asset Requirements

~ Packaging Tips

Course Materials are in the library of the course.

Live FHA Training available in various states. We also offer instructor led live on-line courses. If you are looking to learn technique and theory than contact Alpha Mortgage Training. Our Courses were written by a team of mortgage underwriters with a combined 58 years of conventional and government experience. Our courses will not only help you produce more effective loans, but they will also help you increase your closing ratio.

The Need for Constant Renewal...

D. Bass ~ Blog: Ask The Underwriter (Alpha Mortgage Training) — Wed, 25 Jun 2008 12:33:30 -0500

We are always sharing freebies with each other on activerain. I've got a great one:

www.constantrenewal.com! It's a free website that takes your through a different subject a month to take your walk with Christ to a new level. This month's subject is Daily Bread. There is a worksheet for each week.

Every week you have a different assignment (nothing extreme) that takes you closer to the monthly subject.

Bless someone with this information!

Within days people will be reading the word of GOD and applying it to their lives on a daily basis; causing a multitude of people to seek constant renewal! You never know what people are going through; you might send this to someone who really needs some help with their walk with Christ.

The Need for Constant Renewal...

D. Bass ~ Blog: Ask The Underwriter (Alpha Mortgage Training) — Wed, 25 Jun 2008 12:22:53 -0500

We are always sharing freebies with each other on activerain. I've got a great one:

Every week you have a different assignment (nothing extreme) that takes you closer to the monthly subject.

Bless someone with this information!