Do you have a Master’s Degree in Mortgage Lending?

  1. Mastery of Documents – Have you read and can you explain every line on the application and closing documents?  This includes the entire note, mortgage and the fine print on the 1003.

  2. Mastery of Home Construction – Home inspections are one of the top 3 reasons why a contract is voided.  Appraisals list repairs required.  Can you explain what needs to be done in layman’s terms?

  3. Mastery of Systems – Do you have a detailed checklist or follow up system so nothing gets forgotten and the loan closes on time?

  4. Mastery of Negotiations – Have you read a book or taken a course about negotiating skills?  It’s a good skill to have, especially when sellers, buyers and real estate agents freak out! You can be the one who holds the deal together.

  5. Mastery of Technology – Do you know how to operate a calculator—if your LOS system crashes?  Do you know everything about your LOS?  DU? LP? Automated underwriting systems?

  6. Mastery of Mortgage Rules – Do you know the mortgage rules and regulations—or know how and where to find the information?  Before you process a loan application, do you make sure you have checked to insure it meets all the rules?

  7. Mastery of Teamwork – Do you have a good working relationship with processors, underwriters, title reps and your manager?  If not, what can you do to create team work in your office?

What skills have you mastered?  Please post below, one skill you excel at!