1. vLO Knowledge Booster Voyage Financial Group, Inc. Helping great loan officers become better or Providing the tools to make great loan officers better
12. FHA Basics: Tools & tips, not the whole enchilada Allowable Fee’s Can be different among lenders, common among the company 1% Origination + YSP FPF, Security Atlantic- 1% Origination + 2%-3% Discount if no YSP LTV’s 85% Cash out-Over 417k may need 2nd appraisal Paying off a 2nd over 1yr old can be rate/term (A Conventional would be considered cash out) 97.75%- Rate/Term 96.5%- Purchase No Max CLTV- Could be lender overlay’s
13. FHA Basics: Tools & tips, not the whole enchilada FHA Streamline- W/out Appraisal The Big Picture- The most your loan amount can be Previous Note Amount + New Up Front MI The Details Use Encompass to determine if you are short and how much Current Payoff- FHA loans require a full month of interest + All Closing Costs (Not including new up front MI) Loan Costs + 3rd Party fee’s + Pre-paid Interest + Impound Account - Credit for unused portion of existing MI (if loan is less than 5yrs old)
14. FHA Basics: Tools & tips, not the whole enchilada Fico’s 620 across the board First Mortgage and AFR- will take under 620
15. 1003: Power OriginationThe tools to help make you shine Must be right the first time 2yr Employment Schedule of Real Estate Owned GFE- Disclose your Fee’s
16. MoneyMakerWhat this can do for you! As a built in CRM it is one of the best organizers out there. Whether you are pulling leads from inbound calls, purchasing leads or leads coming in through our SEO this will keep you in touch with everyone The best virtual assistant in helping you close more loans