What Every Real Estate Agent, Broker & Loan Officer Should Know About Mortgage!
3 Day Advanced Training Course for Real Estate Agents and Brokers
Understanding Mortgages or Real Estate and Loan Officers
22.5 hours of Approved Continuing Education for Real Estate includes 3 hours of Fair Housing and 1 hour of Law of Agency.
This 3-day live instructor-led course is designed to increase Brokers and agent’s knowledge and understanding of the entire mortgage process. Agents expend a tremendous amount time and energy on customers looking for the right home to buy; then they send that customer off into the black hole of the mortgage process. 99% of those agents have little to no knowledge of how the mortgage process works, and that puts all the hard work they have done at risk.
Ask most agents OR Brokers that are in the business more than ten years if they can explain what LTV or DTI is, and from the way they look at you, you would think that you asked them to solve world hunger! Many times customers will ask the agent questions about credit, interest rates, documentation needed, etc and the agent has no idea how to answer as a professional because they have NEVER been trained on these subjects.
The agents will learn things ranging from proper calculation of a PITI payment to how the secondary mortgage markets like Fannie Mae and Ginnie Mae effect mortgage rates for their customers. This 3-day class is 100% hands on. High-end mortgage calculators are available in this course for the agents to purchase. Some of the subjects will be discussed at a 30,000-foot level, but most will be trained on a deep dive of the subject matter.
Interwoven into this 3-day course is a heavy dose of Fair Housing. The agents will learn about different protected classes, steering, blockbusting, redlining, testers and also watch a 25-minute video created by the NYC Fair Housing Justice Center. This video covers housing and discrimination dating back more than 75 years. In addition, it teaches the agents about HUD and FHA programs that had good intentions but instead helped add to the discrimination and poverty for people of color. This course will cover enough Fair Housing material to satisfy the mandatory 3 hours of Fair Housing CE in NYS.
At the end of this 3-day course the agents will walk away with a better understanding of mortgage topics such as: PITI, LTV, DTI, Credit, different types of loans, how rates are determined, appraisals, reverse mortgages, Verifications, FICO scores, Fair Housing, Law of Agency and SO MUCH MORE. This course will elevate any agent from average agent into a Trusted Advisor in the eyes of their customers as well as their clients!
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Doug Vairo is the Director of New York School of Real Estate. Since 1998 Doug Vairo, has trained thousands of loan officers and real estate agents around the country.Doug has trained for companies such as, Countrywide, Capital One, Wells Fargo, Morgan Stanley, Exit Realty, Brooklyn Real Property, SIBOR and countless other organizations.Fast forward 18 years to the New York School of Real Estate. The training school was opened as a result of the many positive testimonials received over the years. Doug has been called an ‘Entertrainer” by many students. He weaves fun and learning into a great experience.