Mortgage Industry Blog

Looking at the Fine Print - part one

The mortgage industry runs on paperwork and no banking or mortgage document is ever complete without the fine print!

When you are learning and studying about how to be a loan officer, we strongly encourage you to familiarize yourself with the industry documents you'll be dealing with. Take the time to look them over and read them carefully.

Go to the FNMA website and look at some of the various official forms you may deal with. You'll not only find the familiar URLA 1003… but also the VOD 1006 and the Cash Flow Analysis 1084. Did you know a residential appraisal form is a URAR 1004? Do you know what it contains? Did you know some of the forms are available in Spanish?

As you study these forms you'll be better prepared when you talk to you clients, processors and underwriters. It will also make you look smart to your boss, because you are!

Posted: 9/16/2011 2:40:34 PM by Jim Wiltse | with 0 comments

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