Mortgage Mayhem

Identifying Lender Tricks and Traps Before Signing on the Dotted Line.

What you'll learn

Ethics: How to uncover lender "red flags" and unethical behavior before it is too late.

Knowledge is Leverage: Protect yourself by knowing these overlooked mortgage protections.

Avoid Jail: Learn the risks and criminal consequences of consumer mortgage fraud.

Consumer Complaints: Best practices for submitting complaints against your lender.

Level the Field: Understand key industry financial lingo: "Debt-to-Income" and "Loan-to-Value" Ratio

Requirements

Course designed for inexperienced and first time home buyers.

No investing or financial experience required.

Description

Don't be the sucker at the table. Let's level the playing field between inexperienced home buyers and industry expert lenders. Buying or refinancing a home is rare, expensive, and complex. As a result, most consumers simply "leave it to the experts" and hope for the best. That's a bad life plan. If you have time to research cell phone plans, if you have time to review cable packages then you 'should' have time to learn about mortgage protections.I've spent over a decade in mortgage compliance. Training loan officers, drafting lender policies, auditing consumer files for red flags and responding to complaints. I'll take you "behind the scenes" for what you must know to protect yourself in the rare, expensive, complex home mortgage process. You don't need to know "everything." But what I'll show you are the core skills that help level the field with your loan officer and lender who do this stuff every day. And when you show up as the rare informed consumer the lender takes notice. Trust me. The lender treats your file with a little more focus, a little more diligence, and professional respect. In this class I'll show you the key areas to show up as an informed mortgage applicant:1. How to uncover "red flags" and other bad behavior before you choose a lender2. The consumer mortgage rules that are most impactful to your protection (the rules lenders 'actually' care about)3. Best practices for submitting complaints that get timely action by your lender4. Build your confidence by knowing the key financial ratios used for mortgage applicationsI get it. You are busy. Perhaps you just graduated. Or busy with work, PTA meetings, maybe a marriage or divorce and/or moving to a new city for a new job. And the last thing you want to do is research a bunch of mortgage stuff. But I made it easy. I've used my background in mortgage compliance to simplify the process. This class distills down and explains the key areas to focus on in the mortgage process. It is your choice. Show up as an equal. Or roll the dice and take your chances on the loan officer, operations team and management doing the right thing. Just remember…this will probably be the most expensive purchase of your life. So go ahead and review the cell phone and cable plans. But maybe make some time to also learn what goes on behind the scenes at lenders and how to protect yourself.   Lastly, as you start this class, please keep in mind the following tips:Knowledge = Leverage (become an informed mortgage applicant)What gets rationalized gets normalized (every time in every industry)Self Interest and Self Preservation are undefeated (every time in every industry)Mortgages are a "zero-sum" game (Lenders want the commission. See the 2008 mortgage meltdown)Let's get started!

Overview

Section 1: Introduction

Lecture 1 Introduction

Section 2: Roadmap

Lecture 2 What Gets Rationalized Gets Normalized

Section 3: Loan Officers & Lenders

Lecture 3 Lender Bad Acts and Investigations

Lecture 4 How and Where To Investigate Your Lender

Lecture 5 Summary: Loan Officers & Lenders

Section 4: Key Consumer Protections

Lecture 6 Consumer Protections - What's Ahead

Lecture 7 Unfair Deceptive Abusive Acts or Practices

Lecture 8 Data Security & Identity Theft

Lecture 9 Mortgage Fraud

Lecture 10 Summary: Key Consumer Protections

Section 5: Complaints "The Airing of Grievances"

Lecture 11 What To Do and What Not To Do

Lecture 12 Summary: Complaints

Section 6: Wrap Up

Lecture 13 Key Mortgage Ratios To Know

Lecture 14 Summary Of Key Points

Home mortgage protections and best practices that all home buyers and investors should know.