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Mortgage Loan Processor and Loan Originator Training: Includes 10 Mortgage Closing Disclosure examples with explanations

What you will learn

You will learn how to review and understand a closing disclosure.

You will learn how to complete a closing disclosure so you can master this document.

You will learn what a CD is and why this is such an important loan document as a loan processor, loan originator, or mortgage underwriter.

You will become much more familiar with all the costs associated with a loan and when the borrowers closing costs will vary.

You will learn what a closing disclosure is.

You will become an expert at understanding closing costs and the final terms of a loan.

You will review and master 10 examples of instructor-explained Closing Disclosures

Description

Do you want to work in the mortgage industry but don’t know what a closing disclosure is? Are you looking to advance in your career by having more specialized knowledge on one of the most important documents in the entire mortgage process?

Anyone who works in the mortgage industry can tell you that you will see a closing disclosure on every loan you do. If you want to work as a loan processor, loan originator, underwriter, closer, or other similar position, you need to know how to read and understand this document. That’s  why I created an entire course on this specific topic!

This practical course will go over 10 different examples of a closing disclosure and will break them down in detail so that you can be prepared to do it on your own. By knowing where to find vital information on a CD or closing disclosure such as the loan amount, interest rate, monthly payment, cash to close, and the closing costs, you’ll be prepared to answer common questions from borrowers and from potential employers during job interviews.

You can quickly determine if someone is a beginner in the mortgage industry by asking them questions on information found on a CD or closing disclosure. For this reason, you need to take this document seriously and master it by taking this course. Besides that, you’ll learn how to read the breakdown of closing costs on page 2 of a CD so that you can immediate figure out if a borrower has escrows or not, if they have to pay loan discount points, how much they are paying in loan origination fees, whether or not the borrower will have a prepayment penalty or not, if they will have a balloon payment, and so much more. I will go over 10 real life closing disclosures and then have you try for yourself. You can always go back and see the lecture to correct any mistakes you make. Finally, you’ll have several practice tests so that you can see how you are progressing. These practice tests don’t affect your course certificate and are just for your own private education. If you’re thinking of starting a career in mortgages and want to get paid well, you need to start and finish this course.

What you will learn & how you’ll benefit:

– You’ll learn to master the closing disclosure

– You’ll become an expert on closing costs

– You’ll become familiar with important mortgage terms and definitions

– You’ll increase your chances of being hired and will impress potential employers

– You’ll Improve your career potential by being more knowledgeable so that you can apply for higher paying positions

What this course includes:


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– 10 real life closing disclosure examples explained in detail by the instructor

– 9 “practice” tests

– 6 course “assignments” so that you can get hands-on practice

– 3 downloadable PDF documents to help you in your career and to use during the course

– Access to the course instructor in case you have any questions

Not knowing how to read a closing disclosure is not an excuse. It’s up to you to gain this knowledge by taking the time to go over the content included in this course. In less than 2 hours, you’ll have the information you need to ace most interview questions on a closing disclosure when applying for a job. The closing disclosure is very complete and includes almost all the information the borrower needs to know about their loan which is why you need to be able to explain it to them in a comprehensive manner. Most experienced mortgage professionals don’t know everything on this 5 page document but you can and you will when you finish this course.

Remember, this course will teach you how to read, understand, and master a closing disclosure so that you can master both purchase and refinance transactions on FHA, Conventional, and VA loans.

Once you complete this course, you will have acquired valuable knowledge and a course diploma to show employers when applying for a mortgage position. A course diploma will be available to you when all sections of this course have been completed at 100% which you can save or print and include with your resume. For instructions on downloading your course diploma you can go to: https://support.udemy.com/hc/en-us/articles/229603868-Certificate-of-Completion

Your instructor

Joseph Correa is the founder and CEO of Finibi Mortgage, a licensed mortgage brokerage business based out of Orlando, Florida. Having closed hundreds of mortgage loans, he has the knowledge to help you become a success. In the past, he has also owned a correspondent lender business and invested in real estate as well.

This course is more advanced so if you haven’t taken my “Become a Mortgage Loan Processor” course, I would suggest you start with that one first but you are welcome to start with this course and then move on to that one.

English
language

Content

Introduction to Mastering a Closing Disclosure

Course structure
How will you benefit from taking this course
What is a closing disclosure?
What’s the difference between the loan estimate and the closing disclosure?
When is the closing disclosure provided and who provides the CD?
What are some of the most important documents in a mortgage?
What’s the difference between the prelim CD, the initial CD, and the final CD?
Closing disclosure example #1 for a 20 yr conventional rate and term refi page 1
Closing disclosure example #1 for a 20 yr conventional rate and term refi page 2
Closing disclosure example #1 for a 20 yr conventional rate & term refi page 3-5
Important things to consider on a closing disclosure
Quiz #1 on Closing Disclosure #1

Going into detail on what’s on a CD and breaking down specific examples

Closing Disclosure example #2 for a 30yr conventional purchase page 1
Closing Disclosure example #2 for a 30yr conventional purchase page 2
Quiz #2 on Closing Disclosure #2
Closing Disclosure example #3 for a 30 yr conventional refi rate & term page 1
Closing Disclosure example #3 for a 30 yr conventional refi rate & term page 2
Quiz #3 on Closing Disclosure #3
Closing Disclosure example #4 for a 30 yr cash out refinance page 1
Closing Disclosure example #4 for a 30 yr cash out refinance page 2
Closing Disclosure example #4 for a 30 yr cash out refinance page 3
Quiz #4 on Closing Disclosure #4
Closing Disclosure example #5 for a 30 yr fixed cash out page 1
Closing Disclosure example #5 for a 30 yr fixed refi cash out page 2
Closing Disclosure example #5 for a 30 yr fixed refi cash out page 3
Quiz #5 on Closing Disclosure #5
Closing Disclosure example #6 for a 15 yr conventional refi rate & term page 1
Closing Disclosure example #6 for a 15 yr conventional refi rate & term page 2
Closing Disclosure example #6 for a 15 yr conventional refi rate & term page 3
Quiz #6 on Closing Disclosure #6
Closing Disclosure example #7 for a 15 yr conventional refi rate & term page 1
Closing Disclosure example #7 for a 15 yr conventional refi rate & term page 2
Closing Disclosure example #7 for a 15 yr conventional refi rate & term page 3
Quiz #7 on Closing Disclosure #7
Closing Disclosure example #8 for a 30 yr purchase with gift of equity page 1
Closing Disclosure example #8 for a 30 yr purchase with gift of equity page 2
Closing Disclosure example #8 for a 30 yr purchase with gift of equity page 3
Quiz #8 on Closing Disclosure #8

Reviewing Closing Disclosures on VA and FHA loans

Closing Disclosure example #9 for a 30 yr FHA refi rate and term page 1
Closing Disclosure example #9 for a 30 yr FHA refi rate and term page 2
Closing Disclosure example #9 for a 30 yr FHA refi rate and term page 3
Quiz #9 on Closing Disclosure #9
Closing Disclosure example #10 for a 30 yr VA refi cash out page 1
Closing Disclosure example #10 for a 30 yr VA refi cash out page 2
Closing Disclosure example #10 for a 30 yr VA refi cash out page 3
Common errors and mistakes you will find on a closing disclosure
Thank you for taking this course!