For the Lord gives wisdom; from his mouth come knowledge and understanding.
Wisdom.
Proverbs 2:6
Step 8
We have hundreds of programs available through different Investors here at Glory Mortgage. It can be difficult to learn all the programs so we would suggest learning about a few programs that you would like to specialize in. You should always know your basic loan programs such as Conventional, FHA, VA, and USDA loans. Take the time to learn the differences between the loan programs.
You should take the time to learn about the underwriting guidelines of the different programs. ​If you want to stay up-to-date and want to know what is going on in the Mortgage Industry, please sign up with Allregs.com where you can have access to the most recent changes in law and policies. You can find each Lender's Underwriting guidelines that follow Fannie Mae and Freddie Mac criteria. You can also study the basic programs in each Lenders website portal located on the Lenders page of this website.
The mortgage industry is changing every day and there are more Non-QM programs that are now being offered by our Investors. Take the time to study and get educated by the Account Executives on how these programs can benefit your Borrower(s) needs. Non-QM programs all require at least a 10-20% down payment depending on the program selected.
Some of the programs that you should become familiar with are the 12–24-month bank statement programs. Some allow for only 1 year of Self-Employment to qualify. This is a great option for a self-employed Borrower(s) that write off all their income on the tax returns. There is even a 3-month bank statement program available with some of our Investors. Each of our Investors offer a unique program. Change Wholesale offers the Community Mortgage Program which does not require income for a primary residence. Find your niche programs that you can easily explain the guidelines if you are asked.
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Once you feel confident that you can present these programs to an audience then you are ready to step out into the world to circulate.
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By now you should have set yourself set up with the basics of marketing. If you have studied our loan products and have reviewed the first 7 steps you are ready. Please make sure to continue to visit these steps as they are updated frequently.
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