What are some general terms and just common sense things to know about mortgage lending. (assume I know nothing on the subject)
The reason I ask is I am being trained to do mortgage loans in a couple days and I feel I am unprepared.
A mortgage loan is a loan secured by real property through the use of a note which evidences the existence of the loan and the encumbrance of that realty through the granting of a mortgage which secures the loan. However, the word mortgage alone, in everyday usage, is most often used to mean mortgage loan.
A home buyer or builder can obtain financing (a loan) either to purchase or secure against the property from a financial institution, such as a bank, either directly or indirectly through intermediaries. Features of mortgage loans such as the size of the loan, maturity of the loan, interest rate, method of paying off the loan, and other characteristics can vary considerably.
relax you will learn every thing there is to know over time ask lots of questions every day as that is your best way of learning what to do
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A mortgage loan is a loan secured by real property through the use of a note which evidences the existence of the loan and the encumbrance of that realty through the granting of a mortgage which secures the loan. However, the word mortgage alone, in everyday usage, is most often used to mean mortgage loan.
A home buyer or builder can obtain financing (a loan) either to purchase or secure against the property from a financial institution, such as a bank, either directly or indirectly through intermediaries. Features of mortgage loans such as the size of the loan, maturity of the loan, interest rate, method of paying off the loan, and other characteristics can vary considerably.
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http://overcome-recession-and-job-cut.blogspot.com
Yea, don’t worry too much about it.
When you are in training, just remember the things your trainers say, sit in at every closing you can & pay attention to all the unique situations that arise in each one.
Get yourself a professional notepad & keep lots & lots of notes so you can refer back to them often.
Just relax! This is not the kind of job where they will ‘throw you in to see if you can swim’ !
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