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FHA Lending - Originating, Processing and Underwriting Guide

The ONLY resource that you need for FHA LOANS. Leslie has simplified the FHA process with this real life, easy to understand guide. Learn from the expert who can show you how to make your FHA loans work. Updated in May 2008! Includes:

  • How FHA financing can be used to originate many loans that don’t qualify for conventional
  • Step-by-step instructions for loan processing, including completing the MCAW
  • FHA Qualifying & how to make loan work using automated underwriting
  • All of the guidelines in one place, with references to the exact FHA resource
  • FHA programs (including a 95% cash out)
  • Complete FHA documentation: when to use, how to use, what’s required
  • Much, much more!

View the table of contents (PDF)

Testimonial

"Leslie, Just wanted to tell you how wonderful you book [FHA Lending Guide] is. We use it many times a day and all are us are experienced. It is the best ever!!" - Vicki Williams, Anchor Mortgage Services

"I love your book. It is so helpful. I do not know how I lived without it." - Lori Harris

"I am using the FHA Step by Step book daily. Love it!" - Bobbi Miller

Price (per item): $197.00

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FHA New Construction (for specialists) Handbook

Over the last several years, the FHA new construction guidelines have changed dramatically, making more new homes eligible for FHA. However, don't put your company, your job, or your business at risk by not knowing what you are doing! The only handbook of its kind. It simplifies the guidelines from many of HUD's handbooks, Mortgagee Letters, and CFRs - and puts the requirements in an easy-to-understand format.

Revised and Updated July, 2007

A must for:

  • DE Underwriters
  • Processors who work with FHA new construction
  • Originators working with FHA homebuilders.

View the table of contents.

Price (per item): $85.00

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FHA and VA Streamlined Refinances Handbook

Become the streamline specialist. This handbook has everything that you need to know about how to originate, process and underwrite both FHA and VA Streamlined Refinances. Very detailed

  • includes many worksheets
  • how to use minimum documentation
  • updated information
  • lender and GNMA requirements
  • copies of the actual MLs and handbooks
  • much, much more.

(Rewritten Septemper, 2007)

Make as much income originating a streamlined refinance with only a tenth of the work of standard loans! This handbook shows you how to make it easy!

View the table of contents.

Price (per item): $70.00

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Are Your Loans In Compliance? - Checklist

Protect yourself and your company. Use this detailed 9-page checklist to determine whether your loans are in compliance with the various federal laws and regulations that affect mortgage loans.
  • Know what procedures needs to be in place for your company to be in compliance.
  • Use the checklist and follow the loan from the application through closing.
  • Reference Guide included with website links to find detailed information.
Must-have tool for individual loan officers, underwriters, quality control, and especially managers and company owners. This product will be emailed to you immediately after your purchase.

Price (per item): $127.00

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Designing Easy & Effective Training Systems for Your Office

What we really do in the mortgage business is "educate". We educate our customers, our underwriters, our Realtors® and referral partners.

So why don't we educate our employees on a regular basis?

Training yoru staff is one of the most important things you need to do to build a great team or a fantastic company. However, there never seems to be enough time in the day, does there?

One of the problems we have heard over and over again is "Just where do I start?" or "We had a training meeting scheduled but things got so hectic that day, that we cancelled the meeting."

It doesn't have to be that way. If you are truly committed to provide training on a regular basis for your staff, Leslie Petersen is just the person to help you.

When you view this CD Replay on your computer (audio and Powerpoint presentation), you will learn:

  • How to determine if your staff EVEN needs training.
  • Using outside resources to provide free training.
  • How to develop an easy training manual.
  • How to keep the training going on a regular basis.
  • Developing a "resource" library.
  • Working with your employees as "presenters".
  • Suggested topics that can be taught by your affiliates.

Leslie shares with you, step-by-step, how to create your very own customized training calendar. Your end result is happier employees and customers!

Price (per item): $75.00

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Everything You Need to Know About the New FACTA Act!

Did you know that effective December 1, 2004, some major changes were made to the FACTA (Fair & Accurate Credit Transaction Act) rules and regulations?

This sounds like a really boring and dry topic; but we can assure you that Leslie Petersen has a knack for giving you "just the facts" in a way that is easily understood and remembered.

Here's what you will learn when you view this CD Replay (audio and Powerpoint presentation CD to play on your computer):

  • Find out once and for all if you can give a copy of the credit report to your clients.
  • New FCRA/FACTA Credit Score disclosures - why, when and how!
  • Using new credit bureau requirements to your client's advantage.
  • Mandates & Penalties for non-compliance.
  • Using FACTA as a client counseling tool.

BONUSES on this CD Replay:

  • The Mortgage Loan Process Timeline - FCRA & FACTA
  • Notice of Action Taken Form
  • Credit Score Disclosure Form

Price (per item): $75.00

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How to Read Tax Returns to Maximize Income Handbook

(Updated January 2008)

Don't let tax returns overwhelm you! Do your borrowers a service and close more loans by using this handbook to read tax returns and to maximum income for self-employed borrowers.

Unlike online courses or CDs - having this Handbook on hand every time you look at someones tax returns will save time and give you all of the tools that you need. If you know NOTHING about tax returns or are a seasoned underwriter, this handbook will provide all of the following at your fingertips:

  • Easy to follow, Step-by-step directions for calculating cash flow on each and every page of the tax return, including business returns
  • Learn how to maximize qualifying income as you go
  • Learn how underwriters view self-employed borrowers and different sources of tax income
  • Find little known sources of income that underwriters and lenders will accept
  • Recognize the differences between Fannie Mae, Freddie Mac, and other investors â and how to use this information to get your loans approved
  • Regardless of your experience level, let this handbook work for you.

    View the table of contents.

Price (per item): $99.00

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Any and all trademarks acknowledged.
Leslie PetersenTracey Rumsey