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MORTGAGE AGENTS WANTED!

We are looking for self starting Mortgage Agents .
Some knowledge & experience in mortgages is an asset. Interested in making a move or starting a career in the lucrative business of developing mortgages?
Will Train. SERIOUS INQUIRIES ONLY PLEASE

Area of Activities

Training Course Mortgage, Loan Mortgages in Training Course, Canada, Equity Home Loan Refinancing in Training Course, Canada, Debt Consolidation Training Course, Second Mortgage Rate Training Course, Canada, 2nd Mortgage Training Course, Refinancing Home Mortgage Training Course, Debt Consolidation Training Course, High Risk Mortgages in Training Course, Private Mortgages in Training Course,Buying Home in Training Course, Lowest Mortgage rates in Training Course, Canada, Bad Credit Mortgage in Training Course, Best Open Mortgage in Training Course, Canada

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Ten Steps to Becoming a Successful Mortgage Agent

Course Outline

1. So You Want to be a Mortgage Agent

  • What is a mortgage broker?

  • Mortgage Broker vs Mortgage Agent vs Mortgage Development Officer

  • What does it take to earn your money?

  • How will you get paid?

  • Steps in a mortgage transaction

  • History of the Mortgage Brokerage Industry

  • Could you make it being self-employed?

2. So Much Money....So Little Time

  • The Financial Services Industry

  • Sources of mortgage funds

  • Differentiating between lenders

  • Types of mortgage transactions: purchase, refinance, equity take-out, residential, commercial, industrial

  • First mortgages

  • Second mortgages

  • Hi-ratio mortgages / conventional mortgages

  • Mortgage Insurance

  • Mortgage Backed Securities

  • How are rates determined?

  • Costs in a mortgage transaction....who pays what?

3. What is a Mortgage...and Why all the fuss?

  • Legal concepts...ownership of land

  • Legal concepts..contract law

  • Legal concepts..joint ownership

  • Standard Charge Terms

  • Land Registry Systems

  • Realty Taxes

  • Condominium Fees

4 Who Does What....When....Why?

  • The Realtor....reviewing the Agreement of Purchase and Sale

  • The Appraiser...3 approaches to value, reading and understanding appraisals

  • Surveyor....what is a survey?

  • Solicitor...closing the transaction

  • Title Insurance

5. Making It All Add Up

  • Mortgage mathematics

  • Using the HP10BII

  • Compound Interest

  • Equivalent Rates

  • Calculating Mortgage Payments

  • Calculating Loan to Value Ratio

  • Calculating GDS / TDS

  • Calculating Interest Adjustment

  • Calculating Cost of Borrowing

  • Calculating Interest Penalties

6. Asking the Right Questions

  • Taking a mortgage application

  • Credit Reports

  • Income confirmation

  • Equity confirmation

  • Dealing with derogatory information

  • Discussing closing costs for a real estate transaction

  • Discussing all fees and expenses involved in the mortgage

7. What Do I Do With All This Information?

  • Underwriting and file management

  • Reviewing the file and documentation

  • Choosing the correct mortgage product

  • Choosing the correct lender

  • Submitting the application

  • The art of negotiation

  • Electronic submission software

  • Steps in a mortgage transaction

  • Instructing the solicitor

  • Follow-up

8. Keeping Score....and Making Sure It Comes Back

  • Mortgage administration...processing payments

  • Remedies on default

9. Big Brother is Watching

  • The Mortgage Brokers Act an overview

  • Completing Form 1

  • Completing Form 2

  • FSCO guidelines

  • Contracts

10. What Am I Really Selling?

  • Marketing

  • Developing marketing plans

  • Developing a business plan

  • Selling skills

  • Protecting your lender

  • Ethical behaviour / fiduciary duty / best practices

11. Glossary of Terms

Learning Objectives:

Upon successful completion of this course, the student will be able to:

  • Demonstrate an understanding of the Canadian mortgage industry including the roles of the various participants in the market in which mortgages are transacted.

  • Discuss how the Canadian mortgage industry is regulated and demonstrate an understanding of contract law.

  • Explain ownership of property including the registration of real estate mortgages. Identify the various appraisal methods and demonstrate their use in determining value.

  • Describe various mortgage products and funding sources and demonstrate an understanding of how mortgage payments are calculated.

  • Demonstrate an understanding of borrower income, financial statements and income taxation.

  • Calculate qualifying ratios and demonstrate an understanding of consumer credit, mortgage application process and mortgage lending.

  • Demonstrate an understanding of mortgage administration and mortgage servicing.

  • Describe various mortgage related products such as Mortgage Default Insurance and Title Insurance.

  • Explain the use of technology within the Canadian mortgage industry and demonstrate how to perform financial calculations using mortgage software.

  • Complete disclosure documents Demonstrate an understanding of professional conduct, best practices, consumer protection and advertising standards.