Not all tasks
are applicable to all transactions. Completing the tasks may involve various levels of
involvement, depending on your client's comfort level. You may provide a brief introduction to our online
tools, or you may actually take the information from the
client verbally, and use our online tools yourself to provide
the client with answers to their questions.
Explain the typical loan process to the borrower. Provide a copy of Fannie
Maes Guide To Home Ownership. Explain the key factors in the approval decisionthe
three Cs: Credit, Collateral, and Capacity.
Explain what a credit report is and what a credit score
is. Review the Guide
To Understanding Your Credit.
Use the Buy vs. Rent Calculator to illustrate the benefits
of owning a home.
Explain the closing process. Review the Understanding
The Closing Process article.
Explain what mortgage insurance is. Review the
Mortgage Insurance Works article.
Explain why there are different types of loan programs. Use the Program
Chooser Wizard and review the Types
of Loan Programs article.
Explain the relationship of rates and points. Review the About
Rates and Points article.
Explain the different costs typically involved in obtaining a
Guide to Settlement Costs and provide a copy to the
Estimate a purchase price range using the Purchase
Use the Rate
Quote Wizard to display available rates.
Use the Points Break Even Analysis link from the rate results
page to select the best rate/point option.
Use the Compare Programs link from the rate results page
to compare different options side-by-side.
Use the Closing Costs and Details link from the rate
results page to estimate closing costs and the total payment
Use the Pre-Qualification
Wizard link from the rate results page to establish
whether the borrower meets general underwriting guidelines,
including debt ratios, available cash, source of funds, LTV,
Arrangement Disclosure and other application disclosures.
Assist the borrower in completing the online
Provide title company contact information.
Assist our processing department in setting appraisal
Keep borrower informed of key events, dates, and
Assist the processing department in obtaining information
from the borrower.
Communicate closing date and time to the processing
department and the borrower.
Attend the closing.
Forward the required closing documents to our
here to view an online demonstration of our powerful tools.