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Start Your Own Mortgage Loan Processing Business

Get paid more by partnering with lenders & MBB's and acquire the knowledge of a senior loan processor in one course
4.8
4.8/5
(68 reviews)
398 students
Created by

9.8

CourseMarks Score®

10.0

Freshness

9.6

Feedback

9.3

Content

Platform: Udemy
Video: 2h 48m
Language: English
Next start: On Demand

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Detailed Analysis

CourseMarks Score®

9.8 / 10

CourseMarks Score® helps students to find the best classes. We aggregate 18 factors, including freshness, student feedback and content diversity.

Freshness Score

10.0 / 10
This course was last updated on 1/2022.

Course content can become outdated quite quickly. After analysing 71,530 courses, we found that the highest rated courses are updated every year. If a course has not been updated for more than 2 years, you should carefully evaluate the course before enrolling.

Student Feedback

9.6 / 10
We analyzed factors such as the rating (4.8/5) and the ratio between the number of reviews and the number of students, which is a great signal of student commitment.

New courses are hard to evaluate because there are no or just a few student ratings, but Student Feedback Score helps you find great courses even with fewer reviews.

Content Score

9.3 / 10
Video Score: 8.0 / 10
The course includes 2h 48m video content. Courses with more videos usually have a higher average rating. We have found that the sweet spot is 16 hours of video, which is long enough to teach a topic comprehensively, but not overwhelming. Courses over 16 hours of video gets the maximum score.
Detail Score: 10.0 / 10

The top online course contains a detailed description of the course, what you will learn and also a detailed description about the instructor.

Extra Content Score: 9.9 / 10

Tests, exercises, articles and other resources help students to better understand and deepen their understanding of the topic.

This course contains:

3 articles.
39 resources.
0 exercise.
0 test.

Table of contents

Description

Are you looking to start a career as a mortgage loan processor? Have you considered hiring yourself instead of working for others? Did you know that all you need to start your own loan processing business is a mortgage loan originator license? Yes, that’s right. Even if you’re not thinking of starting your own business, the second and third sections of this course will show you how to process loans like a senior loan processor with practical examples which is incredibly valuable if you want to start working as a mortgage loan processor.
Starting your own mortgage loan processing company requires very little time and will allow you to start working with lenders and mortgage companies not as their employee, but as the owner of your own company. You will build relationships with different companies that will send you loans to process for them. By outsourcing the work to you, they save on loan processor salaries and will increase their profits. You can choose to work for them or to work with them as a partner. Some lenders even hire loan processing companies as preferred loan processors which is a huge benefit because you will receive loans to process on a consistent basis and will charge a fee for processing these loans.
WHAT WILL YOU LEARN IN THIS COURSE?
•Understand what you need to do to start your own processing company
•Develop your loan processing skills further so you can process loans even if you’re new to this field
•Learn how to hire and pay loan processors that work for you
•Go over most of the loan processing documents you’ll see in real life so you can become as knowledgeable as possible
•How to think like a senior loan processor
•How to double, triple, or quadruple your income by charging lenders and mortgage companies a flat processing fee

Loan processing companies normally charge between $300 – $900 per loan processed which can result in an annual income of:
•$300 x 20 (loans processed per month) x 12 (months in a year) = $72,000 or more in annual income on the low end
•$900 x 20 (loans processed per month) x 12 (months in a year) = $216,000 or more in annual income on the high end
WHAT’S INCLUDED IN THIS COURSE?
•35 downloadable course documents as pdf files
•5 Practical exercises
•2 advertising examples you can use to get your business started
•2 Practice tests to prepare you to start your own loan processing business
•Many examples of how to complete the most common loan processing documents
•Access to the instructor in case you have any questions
In the first section of this course, you will learn how to set up and start your mortgage loan processing business, including: how to get MLO licensed to start your processing business, how to create and build lender and mortgage business relationships to bring in loans to process, what you need to do to get paid and pay others, where you can find the right contacts that will send you loans to process, and how much you can expect to get paid as a 1-person company or if you decide to hire other loan processors.
In the second section of the course you will learn what steps are necessary when processing a loan file including: what documents need to be reviewed and supplemental documents such as letters of explanation (LOX’s) and gift letters, what third party verifications should be completed and sent out such as VOE’s, VOM’s, VOD’s, VOI’s, request for title, request for insurance, etc. , who will take care of different steps in the process, who you need to be in contact during the loan process to get the loan to closing, what lenders and mortgage companies need to provide you so that you can perform your job (ID’s, passwords, credit vendor information, etc.), how to obtain a denial letter when necessary, what the underwriter will take of, what the mortgage loan originator is responsible for, and much more. Also, I will go over some of the most important loan documents you will need to read and understand as a loan processor including: the loan estimate, a conditional loan approval, and mortgage payoffs and how to fill them out.
The third section will go over important things you need to consider when starting a loan processing business such as working remotely and hiring loan processors remotely. You will additionally learn what loan processors should be doing and what loan processors should not be doing which is very important either as the owner of a loan processing business or as a loan processor that works for a lender or mortgage company.
This course, in combination with my course on “Loan Processor & MLO Mortgage Math: Problems & Solutions”, will give you the tools necessary to become knowledgeable enough to become independent as a loan processor.
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.

You will learn

✓ Learn to start and run your own Mortgage Loan Processing business.
✓ Understand how to close an entire file with a complete loan processing example.
✓ Become a business owner and hire other loan processors.
✓ Learn to read and understand a loan approval.
✓ Learn who you need to contact when processing a mortgage loan.
✓ Understand what documents need to be completed and included in a loan file before submitting to underwriting.
✓ Learn how to determine your loan processing fees.
✓ Discover how to find lenders and mortgage brokerage companies that will work with you.

Requirements

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

This course is for

• Anyone who wants to start their own Mortgage Loan Processing company.
• Anyone who wants to start a position as a mortgage loan processor and work remotely remotely.
• Anyone who currently works in a related field and wants to start something new where you will have complete control of your future.
• Anyone who has the drive to start their own business and not wait to get hired by others.
• Anyone who wants to become independent and create solid business relationships.

How much does the Start Your Own Mortgage Loan Processing Business course cost? Is it worth it?

The course costs $11.99. And currently there is a 86% discount on the original price of the course, which was $84.99. So you save $73 if you enroll the course now.

Does the Start Your Own Mortgage Loan Processing Business course have a money back guarantee or refund policy?

YES, Start Your Own Mortgage Loan Processing Business has a 30-day money back guarantee. The 30-day refund policy is designed to allow students to study without risk.

Are there any SCHOLARSHIPS for this course?

Currently we could not find a scholarship for the Start Your Own Mortgage Loan Processing Business course, but there is a $73 discount from the original price ($84.99). So the current price is just $11.99.

Who is the instructor? Is Joe Correa a SCAM or a TRUSTED instructor?

Joe Correa has created 24 courses that got 4,973 reviews which are generally positive. Joe Correa has taught 19,708 students and received a 4.5 average review out of 4,973 reviews. Depending on the information available, Joe Correa is a TRUSTED instructor.
CEO of Finibi Mortgage and Published Author
Hi, my name is Joe Correa, and I’m a multi-business entrepreneur with years of experience in real estate, mortgage, personal finance, and investment advisory in Florida. I believe in living a financially independent lifestyle by maximizing your strengths and creating passive income streams to balance your life. I’ve chosen to follow the path of philanthropy by helping others to fulfill their dreams by reorganizing their financial lives in a way that would give them the most free time while increasing their income. I believe in not working harder but instead in making money and knowledge work hard for you. I am the author of several books and am very passionate about teaching. Once, you become one of my students, you can message me and ask me anything you have doubts on. I can’t wait to see you inside one of my courses.

These are some of the books I have written besides the courses I have created online.

Published author:

Joe Correa is the author of: 

“The Compound Interest Millionaire”

In this book, Joe teaches you how to retire wealthy by using the power of compound interest.

“How to Pay Off Your Mortgage in 6 to 8 years”

Learn how to eliminate your mortgage debt in just a few years using new techniques that will allow you to own your home free from debt.

“Rich Kids Made Simple”

Teaching our kids how to manage their finances at a young age is the only way to prepare them for life and all the financial pitfalls that can appear in their path.

“How to Take Your Credit Score from 0 to 800”

Managing your credit is necessary in our economy and this book teaches you to save the most on interest by having the best credit scores.

Show more

9.8

CourseMarks Score®

10.0

Freshness

9.6

Feedback

9.3

Content

Platform: Udemy
Video: 2h 48m
Language: English
Next start: On Demand

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