Blueprint for Loan Originations: Using the 1003 as a Guide
Description
Using the Form 1003 as a guide, this course is an origination and processing primer. It covers how to comprehensively complete the Uniform Residential Mortgage Loan Application and increase the likelihood of loan approval at first pass in the underwriting process. All 10 sections of the Uniform Residential Loan Application 1003 will be discussed, with particular emphasis on five sections: “The Transaction,” “The Borrower,” “Employment,” “Income,” and “Assets and Liabilities.
Agenda
- Market Conditions and fraud trends as drivers for Origination Accuracy
- Brief history of the 1003
- Reasons for using a Uniform Residential Mortgage Loan Application
- Review of the 10 sections of the 1003
Length
- Webinar: 2 hours in length
Recommended Attendees
- Sales: internal and external
- Operations: loan Processors, broker coordinators, all others (who need a refresher)
Scheduling Process
Materials
- Blueprint for Loan Originations: Using the 1003 as a Guide [PDF]
- Blank 1003 (English Version) [PDF]
- Blank 1003 (Spanish Version) [PDF]
- Pen/Pencil
Questions?
- Contact Sue Carter at 610.585.2085 or Tina Callisto at 925.658.6836
Mortgage insurance discussed in this website is underwritten by PMI Mortgage Insurance Co. in all states except New York and by PMI Insurance Co. in New York.
