|
8/24/10--Homeownership: Deed of Trust vs. Mortgage; The Definition of "Loan Originator"; New FHA Jumbo FICO Floors; HOA Certs; Revised DTI Regs |
|
|
Tuesday, 24 August 2010 07:22 |
|
The interesting thing about "mortgage banking" is that it is not a discipline taught in school to youth. It is not like chemistry or psychology, or animal science, etc., that one can major in. It includes aspects of many different things, like finance, sales, marketing, psychology, accounting, and so forth. The skills and knowledge of a good processor aren't necessarily those of a good CFO of a mortgage company, and an underwriter's skills don't match those of a top loan agent - although both are in the same business. The MBA (Mortgage Bankers Association) has classes in various areas, and many MI companies and investors sometimes offer very specific classes - but it helps to learn a little something about other sides of the biz.
Link to article |