The "1003"
Uniform Residential
Loan Application
"Learn of the 67 Ways That Guarantee
To Automatically
Throw YOU Ahead of 80% of Your Competition in
SubPrime Lending"
Discovering
the Explosive Little Known Secrets of How-To Make
the "1003" Application WORK For YOU Is EASY!
From
the Desk of Richard Noah
Dear Reader:
"Form 1003 Uniform Residential Loan Application"
The Most Common Credit Application Used In Lending
This
Ebook Examines the Most Recent 5 Page Edition
of Form '1003',
Established by Fannie Mae on 07/2005
It is the greatest tool you could ever use
to assist you with servicing your borrower and their loan's needs or desires.
From the information you enter onto the form you'll first be able to determine
if your borrower really has a workable loan package. The whole key is
to know what specific information in the beginning is required and why.
Then, like following a detailed road map, you'll be able to navigate through
the balance of the application, knowing what additional information is
needed and omitting other areas being irrelevant.
You'll be able to service your borrower quicker resulting in greater
borrower-reinforced confidence in your professionalism. This alone produces
a helpful spirit in the borrower to give you all the supporting documentation
faster because of their trust factor in you.
You're loans will be processed by lending underwriters quicker
because your application and loan package will be as complete as you can
get them, resulting in more loans being approved and funded. After all
this, the final and most important benefit in becoming trained in the
'1003' is your commissions will increase meaning you'll be making trips
to the bank.
The ALL NEW Version 2
'1003' Provides 67 Areas
That When Mastered Will Propel You Past 80% of Your Competition
Since the '1003' is the most standard
loan application used in lending, you'd
assume that everyone would know or need to know how to fill one out. The
sad fact is the majority of individuals in the residential mortgage lending
business aren't familiar or trained in filling out the 1003 at all.
The '1003' produces the greatest number of complaints from underwriters
and lenders alike. All because many new and experienced individuals in
lending never learned, were given the wrong advice, or are just to lazy
in filling out the form properly. The list of common, unforgiving errors
is long but some of them include: no borrower signature or from the interviewing
broker or loan officer, the application improperly filled out being incomplete
or blank, and even having information appearing in the wrong place.
Out of frustration and time constraints, the underwriters will
deliberately kick the loan package back to the broker or loan officer
who originated the information, or immediately place the loan package
at the bottom of the underwriters file stack of loans to process. In every
case that poorly packaged loan information is submitted, the originating
broker or loan officer suffer from time delays, and their reputations
tarnished. Eventually, if the practice of submitting poor structured loan
packages continues, many underwriters will refuse to even accept future
business. Ouch-h-h-h!!
Learn how-to fill in each of the important area of the '1003' will
catapult you past 80% of your local lending competition who don't know.
That's guaranteed. Ask any underwriter that's been around for some time.
They'll tell you.
Remember, the mortgage lending business exists by only one thing,
INFORMATION. The loan package is only as good as the information it contains,
and the risk a lender is willing to accept and fund is directly relative
to the information contained in the loan package.
The All New Version 2
Becoming knowledgeable and familiar with the NEW '1003'
will immediately benefit you in several ways:
- Saves
you time in knowing how and what to fill out and why.
- Your
client will have confidence in you as a knowledgeable expert,
which is important because you'll know how to answer their questions
better.
- You'll
be able to access solutions quicker for your client's situation.
- A
complete filled out '1003' will automatically produce a respected
reputation with your underwriter / lender.
- With
a good reputation and respect from underwriters, they'll be more
willing to wave some conditions on tougher loans when you need help.
- Your
loans will be processed quicker leading your loans to close and
fund faster.
- Your
clients will be happy because of your service.
- Your
clients will be more receptive to giving you referrals, which
means more business.
- Your
commissions will increase which means more money for your pocket.
It
almost seems like a no brainier. Look at what other insider information
this book contains.
The
book lists Underwriter Red Flags and Insider Tips
For Filling Out a '1003'
The greatest misconception in the
lending industry is that all underwriters have the sole job to find a
reason to deny and turn down a loan request.
BEEP-P-P-P-P!!
Wrong answer.
Their
job is first to make sure that the loan requirements of the lender
and investors are met, and second, that if there is any chance existing,
they can make sense of the loan request and approve it.
Knowing
ahead of time what an underwriter is expecting and what conditions
may trigger a question or immediate disapproval, can only help you turn
in a loan package that has a greater chance of being accepted.
Following the tip advice that's been jammed packed into this
book will save you from wasting time and having to redo the application
or worse yet, continue to go back to the client several times for more
information. Nothing frustrates the borrower and undermines confidence
greater than constantly going back to get more information.
Being
forewarned to what the underwriter inspects for on a '1003' will allow
you to complete the application correctly, the first time, which makes
the underwriters job easier.
The
Book Is Loaded With Examples of Both Blank and Filled-In
'1003' to Aid Your Learning and Understanding
Being able to visualize is always an important part
of learning and comprehending. Visual examples are better to aid in fully
understanding what the final product should resemble. Of coarse the information
used in the examples is fictitious; it does give an accurate representation.
The
examples will aid in countering confusion, fear or over confidence.
These emotions are always present whenever something new is attempted.
It's the unknown factor that we as human beings get all concerned with.
That's why we make every attempt in combating these emotions to help
eliminate, control or limit bad habits, short cuts, or interpreting
instructions incorrectly.
- You'll
save time by cutting the learning curve down in a smaller time
requirement.
- You'll
make fewer mistakes.
- You'll
become and operate as an extreme professional commanding respect
and a solid reputation.
As you
should have noticed by now in reading this review, time is one of
the most important and limiting commodities you possess. Anytime you
can save time, it means that you have more time to devote to the important
areas of your life. In the case of mortgage lending, you'll have more
time to devote to your clients and earn more money.
Being knowledgeable of the 1003, will
allow you to conduct your lending services with your client as if you
had a crystal ball.
Every aspect of the borrowers situation regarding their credit,
their income and the property being used to secure the loan is represented
on the 1003 in the form of information.
You can easily calculate the borrowers debt ratio and the loan-to-value.
You'll know what supporting documentation is needed or not. And finally,
you'll be able to arrive at possible solutions for your client that can
be facilitated with selected loan program products. Without making the
'1003' your friend, knowing what it is saying or not saying to you, makes
all the difference in becoming successful for your client and yourself.
In short, the 1003 as your greatest friend is like having a crystal
ball because of all the information it provides you.
ORDER THE ALL NEW VERSION 2 NOW
FACT:
The information and content revealed in this book are so powerful,
they have assisted many individuals to increase their quality of loans
submitted and their commissions from more loans closing and funding.
There's
no question that this information saves time by giving you specific
information. It does. The real question is: "Will you allow it to
work for YOU?"
ORDER TODAY
and you'll also receive
the following 4 FREE Bonuses
worth AT LEAST $270!
- FREE
- Consultation time certificates that are good for 1-hour live
consultation with me. Since my time is money, I typically charge
$225 for these sessions.
- FREE
- Downloadable Interactive Pdf files of the 1003, Truth-In-Lending,
Good Faith, Verification of Deposit, Verification of Employment and
Credit Authorization ( $45 Value)
- FREE
- List of the Top LOS (Loan Originating Software)
- Valuable
Special Internet Bonus Who's URL Address is Revealed Within the Book
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Start by TAKING ACTION to acquire the information
that will propel you past 80% of your current lending competition. Do
It NOW!!
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