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Mortgage Loan Originator (MLO)
Curriculum
18 Sections
113 Lessons
7 Weeks
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Module 1: Foundations of the Loan Officer Role
Overview of what loan officers do, how their days look, and what the job truly demands.
3
1.1
Lesson 1: What does a loan officer do in a nutshell?
30 Minutes
1.2
Lesson 2: What is required to be a loan officer?
45 Minutes
1.3
Lesson 3: What does the day to day of a loan officer look like?
1 Hour
Module 2: Encompass Training Essentials
Hands-on training with Form 1003, credit, co-borrowers, debts, and property details.
8
2.1
Lesson 1: What is the 1003 form?
20 Minutes
2.2
Lesson 2: How to fill out the 1003 form
45 Minutes
2.3
Lesson 3: How to add a co-borrower/co-signer
15 Minutes
2.4
Lesson 4: How to attach a mortgage from a borrower’s credit report
30 Minutes
2.5
Lesson 5: How to add properties that the borrower already owns
20 Minutes
2.6
Lesson 6: How to exclude or mark a debt being paid off
25 Minutes
2.7
Lesson 7: How to add/complete work history
30 Minutes
2.8
Lesson 8: How to document work history for borrowers who are self-employed
45 Minutes
Module 3: Employment Income Analysis
How to review and calculate income for W-2, 1099/self-employed, and corporate clients, plus handling job gaps.
4
3.1
Lesson 1: What is the minimum required work history to apply for a mortgage?
20 Minutes
3.2
Lesson 2: Required work history based on the type of work?
25 Minutes
3.3
Lesson 3: Rules when switching employers/line of work?
30 Minutes
3.4
Lesson 4: Job gaps explained
20 Minutes
Module 4: Credit Pulling & Scoring Fundamentals
When to pull credit, how liabilities and collections affect borrowers, and how to handle bankruptcies.
5
4.1
Lesson 1: Why knowing when to pull credit is important?
15 Minutes
4.2
Lesson 2: How do you know when to pull credit?
20 Minutes
4.3
Lesson 3: Understanding the different types of liabilities that can appear on a credit report
25 Minutes
4.4
Lesson 4: Understanding how collections can affect the borrowers loan application
30 Minutes
4.5
Lesson 5: How to check for recent bankruptcies and verify bankruptcy is discharged?
25 Minutes
Module 5: Income Calculation Deep Dive
Practical math for W2, 1099, rental income, bank statements, and more.
7
5.1
Lesson 1: Why is calculating income important?
20 Minutes
5.2
Lesson 2: How to calculate W2 wage earners
30 Minutes
5.3
Lesson 3: How to calculate 1099/Schedule C Income
35 Minutes
5.4
Lesson 4: How to calculate Corporate Income
30 Minutes
5.5
Lesson 5: How to calculate schedule e income?
25 Minutes
5.6
Lesson 6: Using income from the property that the borrower plans on vacating
20 Minutes
5.7
Lesson 7: Submitting bank statements for income analysis
30 Minutes
Module 6: Loan Approval Metrics
Master DTI ratios, LTV, reserves, automated underwriting (DU/LP), and manual approvals.
11
6.1
Lesson 1: How to know whether to finalize the approval with FHA or Conventional?
30 Minutes
6.2
Lesson 2: What is a debt to income ratio?
25 Minutes
6.3
Lesson 3: What is LTV or Loan-to-Value?
20 Minutes
6.4
Lesson 4: What are reserves?
20 Minutes
6.5
Lesson 5: What are the pros and cons between DU and LP?
30 Minutes
6.6
Lesson 6: How to run DU & LP?
35 Minutes
6.7
Lesson 7: How to understand findings for DU?
30 Minutes
6.8
Lesson 8: How to understand findings for LP?
30 Minutes
6.9
Lesson 9: How to approve through a manual underwrite?
45 Minutes
6.10
Lesson 10: Pre Approval Expiration
20 Minutes
6.11
Lesson 11: How to complete congratulations email?
15 Minutes
Module 7: Explaining Loan Options
How to clearly explain FHA vs Conventional vs VA loans, rates, and approvals.
5
7.1
Lesson 1: How to congratulate the borrower and let them know that they are fully pre-approved
20 Minutes
7.2
Lesson 2: How to explain an FHA loan to a borrower
25 Minutes
7.3
Lesson 3: How to explain a conventional loan to a borrower
25 Minutes
7.4
Lesson 4: How to explain the differences between FHA & Conventional to borrowers
30 Minutes
7.5
Lesson 5: How to explain the interest rate to a borrower?
20 Minutes
Module 8: Pre-Qualification Coaching
Motivate and guide leads - even those who don’t qualify yet.
4
8.1
Lesson 1: How to keep the borrower pumped up before telling them that they don’t qualify for the moment?
25 Minutes
8.2
Lesson 2: Understanding the different reasons why people do not qualify?
30 Minutes
8.3
Lesson 3: How to communicate to the borrower what they need to do to be able to qualify?
30 Minutes
8.4
Lesson 4: How to save your notes?
20 Minutes
Module 9: Closing Conversations
Turn pre-approvals into borrowers, build realtor partnerships, and confidently close.
3
9.1
Lesson 1: How to conclude conversation?
20 Minutes
9.2
Lesson 2: How to edify your business partners?
20 Minutes
9.3
Lesson 3: How to connect a borrower with a preferred realtor?
15 Minutes
Module 10: Pipeline Management
Organize files, emails, and follow-ups to streamline your business.
7
10.1
Lesson 1: How to set up your file explorer to stay organized
20 Minutes
10.2
Lesson 2: How to label your documents properly
15 Minutes
10.3
Lesson 3: What is the acceptable quality for documents?
20 Minutes
10.4
Lesson 4: How to keep track of your conversation with each borrower
25 Minutes
10.5
Lesson 5: What is a pipeline and why is it important?
20 Minutes
10.6
Lesson 6: How to keep track and follow up with your pipeline?
25 Minutes
10.7
Lesson 7: How to organize your email and create rules?
20 Minutes
Module 11: Post-Contract Follow-Up
Scripts and strategies: congratulations, loan estimate walk-through, and objection handling.
8
11.1
Lesson 1: Call the borrower to congratulate them on finding their home & scheduling a time to go over the loan estimate?
20 Minutes
11.2
Lesson 2: Prepare the file to get disclosed
25 Minutes
11.3
Lesson 3: Understanding the loan estimate?
30 Minutes
11.4
Lesson 4: How to explain the loan estimate to the borrower?
25 Minutes
11.5
Lesson 5: Overcoming the most common objections
30 Minutes
11.6
Lesson 6: Preparing the file summary
20 Minutes
11.7
Lesson 7: Requesting updated documentation to have file prepared
25 Minutes
11.8
Lesson 8: How to do the IL-ALDP?
30 Minutes
Module 12: Post-Close Client Management
How to ask for referrals, stay top of mind, and set up for refinances.
2
12.1
Lesson 1: Calling the borrower to congratulate & ask for referrals
20 Minutes
12.2
Lesson 2: Setting up reminders to follow up with borrower in 6 months to see if they can refinance
20 Minutes
Module 13: Business Ethics & Credibility
Building trust, preventing fraud, and maintaining a professional reputation.
3
13.1
Lesson 1: The power of edification
15 Minutes
13.2
Lesson 2: Why loyalty is important
20 Minutes
13.3
Lesson 3: Do not commit fraud
25 Minutes
Module 14: Becoming a Market Leader
Stand out by partnering with agents, staying available, and building your name.
10
14.1
Lesson 1: Be loyal to your business partners
20 Minutes
14.2
Lesson 2: Be honest to your borrowers and realtor partners
20 Minutes
14.3
Lesson 3: Shoot content with your business partners
25 Minutes
14.4
Lesson 4: Edify your business partners
15 Minutes
14.5
Lesson 5: Be available 24/7 for both your borrowers and realtor partners
20 Minutes
14.6
Lesson 6: Do not cut corners when approving your borrowers
25 Minutes
14.7
Lesson 7: Be organized and keep good records of your conversations with borrowers
25 Minutes
14.8
Lesson 8: Communicate how strong your borrower is to a potential listing agent to win the offer
30 Minutes
14.9
Lesson 9: Understanding the loan programs
30 Minutes
14.10
Lesson 10: Convert prospects to applications/approvals
25 Minutes
Module 15: Loan Products Mastery
From FHA, VA, Conventional, DSCR, and DPA to short-term rentals and bank statement loans.
9
15.1
Lesson 1: FHA
25 Minutes
15.2
Lesson 2: FHA Manual Underwrite
30 Minutes
15.3
Lesson 3: Conventional Loans
25 Minutes
15.4
Lesson 4: VA Loans
25 Minutes
15.5
Lesson 5: DSCR loans
30 Minutes
15.6
Lesson 6: Bank Statement Loans
25 Minutes
15.7
Lesson 7: 1099 Programs
25 Minutes
15.8
Lesson 9: Short Term Rentals
30 Minutes
15.9
Lesson 10: DPA programs
25 Minutes
Module 16: Prospect Sales Strategy
Scripts, objection handling, referral strategies, and pitching clients online or in person.
12
16.1
Lesson 1: How to get your prospects to send you their documents on the spot?
20 Minutes
16.2
Lesson 2: Overcoming common objections when pre-qualifying a borrower
25 Minutes
16.3
Lesson 3: Overcoming common objections while going over the loan estimate
30 Minutes
16.4
Lesson 4: How to use a conversation to pre-qual someone without them knowing
25 Minutes
16.5
Lesson 5: How to sell your service not rates
30 Minutes
16.6
Lesson 6: How to get someone to commit to working with you
25 Minutes
16.7
Lesson 7: How to get someone to refer you business without closing them yet?
20 Minutes
16.8
Lesson 8: How to talk to a borrower when things don’t go according to plan?
30 Minutes
16.9
Lesson 9: The power of using scripts
20 Minutes
16.10
Lesson 10: How to sell a DSCR loan to investors?
25 Minutes
16.11
Lesson 11: How to sell the bank statement loan program?
25 Minutes
16.12
Lesson 12: How to pitch your services online?
30 Minutes
Module 17: Realtor Partnership Techniques
Present yourself, pitch effectively, and earn referrals from real estate agents.
2
17.1
Lesson 1: How to pitch yourself to realtors
30 Minutes
17.2
Lesson 2: How to convince a listing agent to select your offer over other offers?
25 Minutes
Module 18: Mindset Mastery
Resilience, consistency, money mindset, and high-performance habits that fuel long-term success.
10
18.1
Lesson 1: Setting short term and long term goals
30 Minutes
18.2
Lesson 2: How to attract money versus chasing clients
25 Minutes
18.3
Lesson 3: How to stay cool when things don’t go according to plan?
20 Minutes
18.4
Lesson 4: Responding vs Reacting
20 Minutes
18.5
Lesson 5: How to be a solution finder not a problem finder?
25 Minutes
18.6
Lesson 6: How to stop worrying about money?
20 Minutes
18.7
Lesson 7: What is your relationship with money?
25 Minutes
18.8
Lesson 8: Consistency is the key?
20 Minutes
18.9
Lesson 9: Accepting that everything is easy
20 Minutes
18.10
Lesson 10: How to work everyday?
25 Minutes
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