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Advanced Mortgage Loan Processor: Essential Skills Training

Name: Advanced Mortgage Loan Processor: Essential Skills Training
Rating: 4.6 (1646 reviews)

Finibi Mortgage CEO, Joe Correa, teaches you how to take your mortgage loan processor career to the next level

Created byJoe Correa - 50,000+ Students

Last updated 10/2025

English

English [Auto],Spanish

What you'll learn

Learn how to calculate a salaried borrowers income.
Learn how to read and understand an appraisal and how property values are obtained.
Become a pro at locking rates and understanding how rates affect a loans approval.
Develop a deeper knowledge of verifications of employment to get more loans approved.
Learn how to become more valuable as a processor by completing more of the necessary task to close more loans.
Read and know what to request on a homeowners declaration page to get more loans closed.
Understand the importance of a survey and when it should be ordered and by who.
Learn how to obtain invoices for third party fees so that you loan is compliant and the lenders clears your loan to close.

Course content

7 sections • 61 lectures • 2h 20m total length

Introduction to the course1:09
Explore real-world examples to prepare you for on-the-job tasks as a mortgage loan processor, learning to package and submit loans efficiently in high demand nationwide, with no license required.
Working remotely0:58
Learn how mortgage loan processors work remotely, saving lenders time and money on office space, while building fast skills to handle high loan volumes, varying workflows, and contract processing options.
Learn at your own pace0:57
What's advanced mortgage loan processing?0:39
What can I expect in terms of a salary?0:38
Who should take this course?0:44

Loan processing exercises: Calculating the debt-to-income ratio5:14
Learn to calculate debt-to-income ratio (DTI) for mortgage loan applications, covering front-end and back-end ratios, using monthly debt, PITI, and gross income with practical examples.
Loan processing exercises: Calculating the loan-to-value3:47
Calculate the loan-to-value (LTV) by dividing the loan amount by the lower of the purchase price or appraised value, then consider down payment and loan program effects.
Loan processing exercises: Calculating the borrower's "cash to close"3:27
Exercises on calculating the borrower's DTI, LTV, and cash to close3:23
Exercises on calculating the borrowers middle credit score2:23
Exercises on how to calculate the PITIA2:43
Learning to become ultra-productive1:57

1. Calculating a salaried borrowers income4:05
1. Calculating a self-employed borrowers income1:54
Calculate self-employed borrowers' income from Schedule C profit over two tax years, average to annual income, then divide by 12 for monthly qualifying income, and verify with pay stubs.
1.2 Calculating the LTV to help borrowers qualify2:24
2. Running AUS for DU and LP approval1:51
Navigate running AUS for DU and LP approvals, ensuring eligible status by meeting LTV limits, cash to close, minimum credit score, and DTI requirements across conventional, VA, and USDA programs.
Loan Prospector findings overview2:53
3. Ordering and reviewing appraisals1:26
Order and review mortgage appraisals through lender portals or amcs; assess comps and final values, and file rebuttals to adjust value when needed.
3. Ordering appraisals on FHA loans0:43
4. Ordering VOE's and VOI's in a fast and efficient manner1:52
Theworknumber.com VOE example1:31
Truework.com VOE example1:19
5. Ordering and updating homeowners insurance4:22
6. Ordering and reviewing the survey0:37
Coordinate surveying through the title company after loan progress, then review for correct address and borrower's name and forward the survey invoice to the lender.
7. Credit report updates, mortgage only reports, and other3:10
8. Obtaining mortgage payoffs quickly1:19
9. Requesting a change in circumstance or CIC1:16
Learn how to request a change in circumstance (CIC) to adjust loan details affecting decisions such as DTI and LTV, including common reasons and the 1-4 day processing window.
Requesting a change in circumstance or CIC1:32
10. LOE's or letters of explanation for different reasons1:24
11. Locking the interest rate and extending the rate7:00
Lock the borrower's rate for a set period to secure a price; buyers can buy down or take lender credits to cover closing costs, with extensions potentially costing.
Locking the interest rate and pricing adjustments2:32
Examine 30-year fixed rate options for conventional and other programs, view pricing, and lock the rate with adjustments based on loan amount, loan to value, and term.
Rate lock extension0:46
12. Mortgage insurance effect on the loan2:21
13. Reviewing loan approval conditions4:48
14. Collect and submit third party vendor invoices0:37
Credit report invoice example0:57
Appraisal invoice example0:37
Homeowners Insurance invoice example0:40
Survey invoice example0:51
15. Getting a clear to close0:38

Briefly reviewing the loan process of a mortgage loan1:49
Review the mortgage loan process from receiving loan conditions, including credit reports and bank statements, to underwriting, conditional approval, rate lock, and closing.
What documents do lenders need to underwrite a loan?4:32
Leverage the lender's document preparation system and web portal to auto populate and obtain signatures on all required disclosures, simplifying purchase and refinance submissions.
Loan estimate overview8:43

Top lender to use when processing: United Wholesale Mortgage5:55
Discover how to streamline mortgage processing with United Wholesale Mortgage, leveraging tools like Process or Assist, Blinkx Plus, and Appraisal Manager.
A quick interruption0:55
Top lenders to use when processing: Quicken Loans Mortgage Services1:18
Quicken Loans Mortgage Services is a top, easy to process lender that handles most steps, allowing you to order appraisals online, upload documents, and manage CIC with a communications specialist.
What do you need to know when it comes down to loan timelines?0:56
Manage loan timelines by complying with state and federal laws, tracking due dates, and noting electronic or mail delivery, with Sundays and holidays excluded.
Timeline calendar0:30
Loan timeline example5:03
Follow the respa integration disclosure timeline shown as a calendar, detailing loan estimates, appraisals, title orders, mortgage insurance, rate locks, and the closing process for an October closing.
Updated Uniform Residential Loan Application0:05
I just wanted to make sure you have the most up to date Uniform Residential Loan Application aka "URLA" for when you have a borrower that needs to complete it with your assistance or in case you want to become more familiar with this form. This is an important document for you to have in your files. You can download it in this lecture
Advanced Mortgage Loan Processing: Step-by-Step Checklist11:28

Lenders hiring right now2:40
What to say and do when you're interviewed0:52
Exhibit positivity and adaptability in interviews by showing you collaborate with co-workers and customers and are eager to learn. Return calls and e-mails promptly, ideally same day.
What if I don't get hired?0:45
If you don't land a job right away, pursue multiple mortgage companies, consider internships to demonstrate your skills, and gain remote on-the-job experience by communicating effectively by phone and email.
Making every day, a great day at work and enjoy the journey1:19
Provide documents promptly and respond to calls or emails the same day for borrowers and other parties, building a reputation as a great mortgage loan processor.
Thank you!0:33
Bonus: What I recommend1:12
Course assessment

Requirements

Should complete my course on Become a Mortgage Loan Processor, but is not a requirement.

Description

Advanced mortgage loan processor training will give you the knowledge to earn a higher income. This course goes from theory to practical examples. Lenders are hiring mortgage loan processors by the hundreds!

This fast-paced course will go over the most fundamental tasks processors need to master such as: requesting a change in circumstance, being able to read and understand Loan Prospector findings, outsource basic processing tasks to third party vendors which will reduce your time on repetitive tasks and will allow you to focus more on providing the best service possible. You will also learn to calculate salaried and self-employed borrowers income quickly and easily with practice questions taught by the instructor. Besides that, you'll also review common calculations you will see every day in an exercise format. These realistic exercises will teach you how to calculate the debt-to-income ratio, loan-to-value, cash to close, borrowers middle credit score when you only have two credit scores or just one, plus, how to calculate all of these in one loan scenario. This course will even go over a real life conditional approval in detail just like you will need to do when you process loans for banks and lenders. If you're looking to start a career in real estate or mortgage and want to receive a salary and not a commission, becoming a loan processor is the right choice.

Main benefits of this course and of being an advanced mortgage loan processor are:

- Earn a great starting salary and possibly a sign on bonus

This course includes the contact information for 2 lenders that are currently hiring and need loan processors and other mortgage positions paying $40,000 - $100,000+ per year.

- Work remotely from home and have a flexible work schedule

- Become an expert on home mortgages

- Quickly and easily change careers into a high demand market

Once you start working as a mortgage loan processor, you can quickly move up to becoming a senior loan processor which are the highest paid form of loan processors. By completing this course, you will learn much of the knowledge senior loan processors have which will allow you to increase your income and potential for other higher paid positions within a bank, lender, or mortgage company.

The first section of this course will take you through three enormously important elements of loan processing: quickly running the debt-to-income ratio, loan-to-value, and calculating the cash to close for different borrowers. How to calculate a salaried and self-employed borrowers income. In the second section of this course, you will learn what lenders are the easiest to process loans with and what tools they offer to make processing faster. You will also learn what lenders are hiring and how to get hired by using some of the techniques which I have seen work in the past.

Once you complete this course, you will have advanced loan processing knowledge and a course diploma to show employers. A course diploma will be available to you when all sections have been completed at 100% which you can save or print. 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 and processed many of them, he has the necessary processing knowledge to help you become a success. In the past, he has also owned a correspondent lender business and invested in real estate.

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 one and then move on to that one.

Who this course is for:

Anyone who wants to start a position as a mortgage loan processor in office or remotely.
Anyone who wants to start a stable job with a stable salary in a high demand position.
Anyone who currently works in a related field and wants to try something new.
Anyone who wants to learn more about mortgages.
Anyone who is willing to work hard and has the desire to improve their career path.

Advanced Mortgage Loan Processor: Essential Skills Training

What you'll learn

Explore related topics

Course content

INTRODUCTION TO ADVANCED MORTGAGE LOAN PROCESSOR COURSE6 lectures • 5min

MORTGAGE LOAN PROCESSOR TRAINING EXERCISES7 lectures • 23min

COVERING THE ESSENTIALS28 lectures • 55min

A QUICK OVERVIEW OF THE LOAN PROCESS3 lectures • 15min

RUNNING AUS FINDINGS AND WHAT TO DO ONCE YOU HAVE A CONDITIONAL LOAN APPROVAL3 lectures • 9min

TOP LENDERS TO WORK WITH AS A LOAN PROCESSOR8 lectures • 26min

LENDERS WHO ARE HIRING RIGHT NOW AND THE HIRING PROCESS6 lectures • 7min

Requirements

Description

Who this course is for: