1
Front Matter
5 chapters2
Part I: The Foundation
7 chapters- Part I — The Foundation
- Chapter 1: The Mortgage Industry: How Home Lending Works and Why Loan Officers Exist
- Chapter 2: How We Got Here: A Short History of American Home Lending
- Chapter 3: NMLS Licensing: The SAFE Act, Pre-Licensing Education, and Passing the Exam
- Chapter 4: Mortgage Math: Payments, Amortization, DTI, LTV, APR, and the Calculations That Drive Every Decision
- Chapter 5: Loan Programs: Conventional, FHA, VA, USDA, Jumbo, and Choosing the Right Product for Each Borrower
- Chapter 6: The Loan Process: Application → Processing → Underwriting → Closing
3
Part II: The Borrower
8 chapters- Part II — The Borrower
- Chapter 7: Lead Generation: Referral Partners, Real Estate Agents, Past Clients, Social Media, and Building Your Pipeline
- Chapter 8: The Pre-Qualification Conversation: Assessing Affordability, Setting Expectations, and Building Trust
- Chapter 9: Taking the Application: The 1003, Gathering Documentation, and Getting It Right the First Time
- Chapter 10: Credit Analysis: Reading Credit Reports, Understanding Scores, and Credit Repair Strategies for Borrowers
- Chapter 11: Income Documentation: W-2, Hourly, Overtime, Bonus, Commission, and the Rules for Counting Income
- Chapter 12: Assets, Reserves, and the Down Payment: Sourcing, Seasoning, Gift Funds, and Large Deposits
- Chapter 13: Choosing the Right Loan: Program Selection, Rate vs. Points, ARM vs. Fixed, and Structuring the Deal
4
Part III: Underwriting
7 chapters- Part III — Underwriting
- Chapter 14: Underwriting Guidelines: Fannie Mae, Freddie Mac, and the Conventional Rulebook
- Chapter 15: Automated Underwriting: DU, Loan Product Advisor, and Reading the Findings
- Chapter 16: FHA Lending in Depth: HUD Handbook 4000.1, MIP, and the Borrower FHA Was Built For
- Chapter 17: VA and USDA Lending: Entitlement, the Funding Fee, Rural Eligibility, and Zero Down Done Right
- Chapter 18: Appraisal: How Property Valuation Affects the Loan and What to Do When It Comes In Low
- Chapter 19: Clearing Conditions: The Stip Sheet, the Suspense File, and Getting to Clear-to-Close
5
Part IV: The Transaction
5 chapters- Part IV — The Transaction
- Chapter 20: The Purchase Transaction: The Contract, Contingencies, Earnest Money, and the LO's Role in the Deal
- Chapter 21: Title and Insurance: Title Search, Title Insurance, Homeowners Insurance, and Clearing Defects
- Chapter 22: The Closing Disclosure and TRID: The Three-Day Rule and Compliance That Can't Be Wrong
- Chapter 23: Closing Day and Beyond: Funding, Recording, Escrows, the First Payment, and Post-Close Audit
6
Part V: Compliance and the License
5 chapters- Part V — Compliance and the License
- Chapter 24: RESPA and TILA: Disclosure, Kickbacks, and the Rules That Shape Every Referral
- Chapter 25: Fair Lending: ECOA, HMDA, Redlining, Disparate Impact, and the Appraisal Gap
- Chapter 26: Compensation: How Loan Officers Get Paid — Basis Points, Comp Plans, and the LO Comp Rule
- Chapter 27: Fraud Prevention: Red Flags, Identity Verification, and Protecting Yourself and Your Borrower
7
Part VI: The Money Behind the Loan
5 chapters- Part VI — The Money Behind the Loan
- Chapter 28: Where the Money Comes From: Fannie Mae, Freddie Mac, Ginnie Mae, and the Secondary Market
- Chapter 29: How a Rate Is Made: Rate Sheets, LLPAs, Pricing Engines, and Lender Credits
- Chapter 30: Rate Locks: When to Lock, Float-Down Options, Lock Extensions, and the Market Risk You Manage Daily
- Chapter 31: Retail, Broker, Correspondent: Business Models, Warehouse Lending, and Where You Fit
8
Part VII: Specialized Lending
5 chapters- Part VII — Specialized Lending
- Chapter 32: Self-Employed Borrowers: The Most Complex (and Most Rewarding) Files
- Chapter 33: First-Time Homebuyers: Down Payment Assistance, Education Requirements, and Guiding the Nervous Buyer
- Chapter 34: Non-QM and Alternative Lending: Bank Statements, Asset Depletion, DSCR, and Loans Outside the Box
- Chapter 35: Construction, Renovation, and Reverse: The Loans Most Loan Officers Never Learn
9
Part VIII: The Business and the Career
6 chapters- Part VIII — The Business and the Career
- Chapter 36: Technology: LOS Systems, CRM, Pricing Engines, AI, and the Digital Mortgage
- Chapter 37: Purchase vs. Refinance Markets: How to Pivot Your Business When Rates Change
- Chapter 38: Building Your Business: The Realtor Relationship, Sphere of Influence, Social Media, and Becoming the Go-To LO in Your Market
- Chapter 39: Running the Pipeline: Managing Thirty Files at Once Without Dropping One
- Chapter 40: The Mortgage Career: From Junior LO to Branch Manager — Production Goals, Team Building, and Long-Term Success
10
Appendices
14 chapters- Appendix A — Formulas, Ratios, and Quick Calculations
- Appendix B — Loan Program Comparison Matrix
- Appendix C — The Loan File Workbook
- Appendix D — Federal Law and Regulation Reference
- Appendix E — Documentation Checklists by Borrower Type
- Appendix F — Underwriting Guideline Quick Reference
- Appendix G — The NMLS Exam Study Guide
- Appendix H — Worked Loan Scenarios
- Appendix I — Careers, Licensing, and Designations
- Appendix J — The Mortgage Timeline
- Answers to Selected Exercises
- Glossary
- Bibliography
- Index
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