Abby Kamadia
1 Highly recommended
I wish I had this book 25 years ago when I first got in the business. Instead, I got it for my daughter when she joined my company. She picked up the concepts and jargon within a week! I now keep this book in the office and it is required reading for all new loan officers.
2 A Great Help
This manual was a great help in helping me understand the mortgage business. After my divorce I was left with little money and no prospects. So I turned to the mortgage business. After months of being in over my head, I found this book and things have never been the same. By learning actually how to properly take a loan and how it gets processed I was able to answer my customer's questions that before I had to get the answer from someone else. My confidence shot up through the roof and so did my income.
My licensing instructor had recomended it to the class months earlier but I totally forgot about it. Now I wish that I had got it sooner. If you are serious about this business, get this book.
3 Ripoff
This is a poor excuse for a training manual. Way over priced.
This book should sell for $3.95 if that much. You definitely can't learn about mortgage business from this book. Threw it in the trashcan after reading about 15 pages. It only took 3 mins. to read that much.
4 Covers all the basics
Expensive, but not compared to learning the profession through the school of hard knocks. I received no training whatsoever when I became a mortgage broker. This book taught me all I know. And I earned over $45,000 last year. Not bad for my first year. I went through the exercises again and again until I knew the stuff cold. And in my first loan, the borrowers could not even tell I was new. they thought I had been doing loans for years. I got the confidence from what I learned in this book.
It is not for people not in the business. It is very detail oriented and has topics only loan officers should be concerned with. And as for rate sheets, it not only explained the two different kinds of rate ratios used, but also gave a real life example.
I recommend this book to all new loan officers.
5 Residential Mortgage Loan Origination Made Easy
I went ahead and paid a whopping $137.99 for this book based on the write up and one glowing review. I've worked in this industry for 2+ years in the admin dept and wanted to truly understand the ins and outs of the business, rate sheets, etc. before making the jump to a commission only job. Guess what? The book is padded by printing only one side of the page to make it appear more substantial than it is. Many, many pages are copies of loan application forms, disclosures, etc. that are completely self explanatory. There is ONE page (barely - 3 inch margins all around) explaining rate sheets - the biggest mystery to new loan officers - in the entire book. I hope I can get a refund. This book isn't worth $19.95, let alone $137.99. Its a total rip off.
6 Worth every penny
This book saved my life. When I started as a loan officer I knew nothing. And my manager was no help. So I had to train myself. This book was recomended to me by another in my office. And it is the best training manual I have seen. It covered everything I needed to know and alot of things I would never have known.
If you are new to this business, get this book. You'll thank me later.
