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For the complete Home Ownership Q&A Session go to www.mtgtna.com bookstore today!

For the complete Home Ownership Q&A Session go to www.mtgtna.com bookstore today!

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  • MTG TRAINERS OF NORTH AMERICA HOME OWNER Q&A SESSION The moderator should introduce all the employees attending presentation, and special guests before advancing the slide. Thank the people for coming. Next it is recommended you engage the audience. Ask “how many currently own their own home.” Ask “how many people have owned a home within the last three years.” Ask “how many participants plan to purchase a home within the next year.” After short discussion, go to next slide

Transcript

  • 1.
    • HOME OWNERSHIP
    • QUESTIONS & ANSWERS
    • SESSION
    • PRESENTED BY
    • ____ YOUR COMPANY NAME HERE ___
    •  
    • Equal Housing Opportunity © Silver State Trainers Inc 2008
  • 2. Session Overview
    • Today we will cover
    • The Mortgage Cycle
        • Steps to obtain a mortgage loan
      • General Credit Requirements
        • One of the key factors in making a credit decision
      • Your rights as a consumer
        • Review Consumer Protection laws
      • Current Specialty Loan Programs
        • What are the loan programs available today
  • 3. Session Overview
    • Today we will attempt
      • Answer your Questions to best of our ability
        • We will open for Q&A after every section
        • Representatives available for private questions after the session or by appointment
        • We are not attorneys, so cannot offer any legal advice.
        • If we do not know the answer, we will do our best to get you the answer
  • 4. The Mortgage Cycle
    • Submit the information needed for full loan approval to the loan originator
    • Meet the conditions of the loan process – info needed to submit to underwriting
    • Meet the conditions of the underwriter – additional info needed to close the loan
    • Set closing date and time with escrow officer or closing agent
  • 5. QUESTIONS & ANSWER TIME
    • There is no such thing as a stupid question
    • Our mortgage professionals are here to help you
    • Private consultations are available
    • JUST ASK!
  • 6. Credit Requirements
    • Credit is one of the key areas reviewed in the approval process
    • 3 “C”s analyzed:
    • - Capacity – income & assets
    • - Collateral - property
    • - Character - Credit
  • 7. Credit Requirements
    • If for some reason you are not able to meet the loan requirements today, your loan originator will inform you what it may take for you to meet the requirements in the future.
    • You need to know where you stand in the lender’s eyes.
  • 8. Your Rights as a Consumer
    • The Federal Trade Commission or HUD oversee most consumer protection legislation.
    • There are laws to protect the consumers rights.
    • FACT ACT of 2003
    • Gramm Leach Bliley Act 1999
  • 9. QUESTIONS & ANSWER TIME
    • There is no such thing as a stupid question
    • Our mortgage professionals are here to help you
    • JUST ASK!
  • 10. Special Loan Programs
    • FHA Loan Programs
    • Government loans are designed to meet first time homebuyer needs for home financing.
    • More lenient with debt ratios
    • More lenient with cash to close requirements
    • New Program – FHA Secure – designed for refinancing homeowners with non-FHA adjustable rate loans whether current or delinquent
  • 11. THANK YOU FOR ATTENDING!
    • We appreciate your attending our session.
    • If you’d like a private appointment to discuss your situation, please approach one of our loan originators now or pick up a business card to make an appointment later.
    • Remember, we are here to assist you in meeting your home financing needs.
    • Please complete the survey at the end of your workbook, and leave it where you are sitting.
    • We appreciate your input.