MORTGAGE PRO 7: Scale the Seven Summits (30 min DEMO)

 Don't forget to sign up for updates and discount offerings by clicking here and filling out the form for notifications. Mortgage Pro 7 looking to launch on this site in December 2022!

A Summit-by-Summit Product Descriptions for Pro 7

Congratulations! You've passed the NMLS exam, paid your fees, and are officially an MLO. Now what?

Mortgage Pro 7: Scaling the Seven Summits is here to help you get your career off to a running start! In fact, this course is your step-by-step solution to gaining the equivalent of years of LO experience in a relatively few hours of engaging education. Companies have been asking for an in-depth, comprehensive training solution like this for years, and MEC is excited to announce that it's finally here.

Pro 7 will teach you the thousand things you need to know about the industry, the products, the programs, and how to jump-start your sales, each of which will allow you to hit the ground... succeeding!  

In fact, Pro 7 is divided into summits - or chapters - focusing on important aspects of what originators focus on day-to-day. Each summit will challenge you, inspire you and place you in a position to win in the world of loan originating. 

Summit 1: Mt. Crux -- The Bones of the Loan

By climbing this peak, students will not only understand but also be able to reconstruct and explain the overall loan process and the components that go into a loan, while additionally memorizing essential vocabulary and acronyms. Summiteers will learn how to compose a full loan application, review the 30-plus disclosures that are part of any loan, distinguish between disclosures for different loan types and evaluate needed client documents.  

Summit 2: Mt. Fico -- Credit and Debit

Climbing this peak gives students the ability to thoroughly comprehend credit reports, differentiate between loans requiring various credit scores for approval, and explore the use of a credit analyzer to assist in guiding clients through improving their credit scores.   

Summit 3: Cache Cliff -- Income and Assets

By summiting Cache Cliff, mountaineers will learn which asset documents they will need for each transaction, how to source specific types of funds arriving into client bank accounts, and how income and assets can affect and impact one another. Students will also gain experience calculating the most common types of income scenarios and incorporating the documents needed for verifying said income, and breaking down and evaluating clients’ income information from tax documents.

Summit 4: Price Peak -- Appraisals and Real Estate

After ascending this peak, hikers will know how to judge which parts of real estate contracts and addendums are important. They will also know which information is essential to extract from sales contracts while critically thinking about what contractual verbiage could cause problems in the loan process. Students will evaluate an appraisal report, and be tasked with locating the most important details for the loan. They will also hear from a professional appraiser who will explain the variety of parameters in appraisal reports.

Summit 5: Principal SUMmit -- Interest Rates and Mortgage Insurance

By climbing Principal SUMit, hikers will understand and recall with confidence the complex components involved in various interest rates and their accompanying loans. Climbers will know how a specific interest rate can directly affect the fees of a loan.  

Summit 6: Title Ridge -- Closing Escrow & Title

Summiteers of Title Ridge will have a solid understanding of all fees associated with the loan process that now includes title and escrow Students will learn to extract the most important information needed for and applied to a successful closing and escrow experience. Climbers will also hear from professionals in the title/escrow industry about tips and best strategies to ensure effective relationships and more about the many additional services they provide.

Summit 7: Loan Peak -- Loan Types

Students climbing to the top of this peak will get a general overview of the “Matrix” of different loan types (FHA, Conventional, VA, Rural Housing/USDA, and Jumbo loans), while also exploring the difference between lender-paid mortgage insurance, regular mortgage insurance, and the funding fee. Finally, students will learn how HELOCs and/or second mortgages will affect the structure of their loans.

The journey of one thousand miles can begin with SMART steps, shortening the journey to success immensely.

Climb the seven MLO summits with MEC and expedite your future career as a successful loan originator for the many, many wonderful miles to come!