Role of the CalPERS Loan Officer
Any person that works as a CalPERS loan officer has completed in-depth training so members are provided the best service, greatest loan options, and lowest interest rates possible. Therefore, anyone originating a CalPERS loan has undergone basic and advanced training services so members are provided with marked savings and great protection when buying a new home or refinancing an existing home.
This means that a CalPERS loan officer cannot offer people loans under this program until all required training and workshops have been completed and passed. The benefits are tremendous, providing a new and innovative revenue stream for the lender but the most attractive mortgage loans to the borrower, so everyone wins.
Each CalPERS loan officer completes a standard training services course, as well as an advanced training course. At the completion, this person must take a knowledge test and if passed, he or she would become a certified loan officer for CalPERS. One of advantages is that the CalPERS loan officer would be able to receive loan referrals directly from CitiMortgage. However, the loan officer must meet a specific level of production for each quarter and complete new certification annually.
For the borrower working with a CalPERS loan officer, this is great news. The borrower is being provided with professional services from a motivated lender. Therefore, the loan officer goes out and searches for the best loans and lowest interest rates available rather than settling on something subpar. As a result, members are provided with a cohesive list of loan options, many with low down payments.
In addition, the CalPERS program sets rates daily and limits the fees that can be charged, so you do not need to worry about getting the best deal. Borrowers have the opportunity to look at a loan officer's record, and then choose the professional based on level and degree of service history.
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