David Reed (Austin, TX) is a veteran mortgage banker who has closed more than 1,000 mortgages. He is a columnist for Realty Times and Mortgage Originator Magazine and is a member of the Mortgage Speakers Bureau. He is the author of Mortgages 101 (0-8144-7245-1), Who Says You Can't Buy a Home (0-8144-7340-7), and Mortgage Confidential (0-8144-7369-5).

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• Contents Preface ix Part I Getting Started 1 Chapter 1 The Mortgage Loan Officer and His Team 3 Chapter 2 How Do I Get Started? 16 Chapter 3 Mortgage Banker vs. Mortgage Broker 20 Chapter 4 The Loan Application and Process 36 Chapter 5 Types of Mortgage Loans 69 Part II The Basics of the Job 93 Chapter 6 Loan Prequalification and Approval 95 Chapter 7 Loan Documentation 102 Chapter 8 Interpreting Credit Reports and Credit Scores 110 Chapter 9 Interest Rates: How They’re Set, How To Quote Them 123 Chapter 10 How Brokers Make Money 137 Part III Making Yourself Successful 149 Chapter 11 Marketing Yourself 151 Chapter 12 Marketing Secrets from the Pros 159 Appendix A The 1003 and Disclosure Forms 181 Appendix B Ten Steps to Becoming a Successful Mortgage Loan Officer 198 Appendix C Ten Steps to Becoming a Megaproducer ($250,000 per year) 199 Appendix D Sample Marketing Pieces 201 Appendix E Industry Resources 205 Appendix F State Licensing Chart 210 Appendix G Payments Per Thousand Dollars Financed 218 Glossary 227 Index 241

David Reed (Austin, TX) is a veteran mortgage banker who has closed more than 1,000 mortgages. He is a columnist for Realty Times and Mortgage Originator Magazine and is a member of the Mortgage Speakers Bureau. He is the author of Mortgages 101 (0-8144-7245-1), Who Says You Can't Buy a Home (0-8144-7340-7), and Mortgage Confidential (0-8144-7369-5).

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• Contents Preface ix Part I Getting Started 1 Chapter 1 The Mortgage Loan Officer and His Team 3 Chapter 2 How Do I Get Started? 16 Chapter 3 Mortgage Banker vs. Mortgage Broker 20 Chapter 4 The Loan Application and Process 36 Chapter 5 Types of Mortgage Loans 69 Part II The Basics of the Job 93 Chapter 6 Loan Prequalification and Approval 95 Chapter 7 Loan Documentation 102 Chapter 8 Interpreting Credit Reports and Credit Scores 110 Chapter 9 Interest Rates: How They’re Set, How To Quote Them 123 Chapter 10 How Brokers Make Money 137 Part III Making Yourself Successful 149 Chapter 11 Marketing Yourself 151 Chapter 12 Marketing Secrets from the Pros 159 Appendix A The 1003 and Disclosure Forms 181 Appendix B Ten Steps to Becoming a Successful Mortgage Loan Officer 198 Appendix C Ten Steps to Becoming a Megaproducer ($250,000 per year) 199 Appendix D Sample Marketing Pieces 201 Appendix E Industry Resources 205 Appendix F State Licensing Chart 210 Appendix G Payments Per Thousand Dollars Financed 218 Glossary 227 Index 241