Loan Inspector Interview Preparation Guide

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Because I have proven that I am an asset as I learn and grow fast and I love to assist others around me if assistance is needed. I have high work ethics, and will do what I can to go above and beyond and make my employer look good.

Team player by my actions I will back up those in need, offer help and guidance, work hard to accomplish the entire task at hand versus just my part. I am very conscientious and want to do the right thing overall for the customer rather than letting something suffer because of politics. Loyal, dedicated, decisive, curious.

Co is built on a foundation of shared values; ie, trust, integrity, quality relationships and financial strength.

Yes I know Fannie Mae and Freddie Mac guidelines. I have held many positions in the mortgage industry that include MLO, underwriter as well as processor, which required me to stay abreast of all guidelines.

I have multiple goals to complete in five years. I plan on getting my own place being independent. Completing or finalizing college. Finally learning at least one additional language. These are just a few tasks I have listed for myself to complete before five years.

I am familiar working with a wide range of lenders but to specifically identify which ones would be a breach in my form contract with Wells Fargo Home Mortgage.

Make a plan according to time constraints and deadlines. Be flexible and determine whether it's best to work the easiest tasks that are a priority to lighten the list or if a complicated issue should be priority due to the amount of time it may take to reach the result or the ability to get something moving and work smaller tasks in between. Try to determine where you can batch like things together for time savings rather than working on one item at a time. Don't devote too much time to email unless a necessity until end of day when timelines are met.

My greatest weakness will have to be I can be too detailed oriented. I am a perfectionist and I am improving that by understanding that life happens but as long as I can figure out an alternative to the situation. All is ok.

Fix loan (wants to keep the house for a long time wants to have a monthly fix amount for payment), Adj loan (is not planning to keep the house for long term), balloon loan (want to pay lower monthly payments and pay a larder payoff, heloc (wants to draw funds as needed)

Juggling multiple tasks at one time consistently is something I personally do best.

Excellent organizational skills and ability to shift priorities throughout the day. Also the loyalty to working whatever hours are necessary to ensure that loans get closed.

I have been working on LMCU mortgage courses to learn more about the loan process, ethics, and law. Likewise I have been researching about mortgage procedures on my own time.

I just know the basic definition from my real estate national preparation guide.

There are two systems: one is Fannie Mae's DU (Desktop Underwriter — sometimes called Desktop Originator) and the other one is Freddie Mac's LP (Loan Prospector).

How do you calculate income?
What methods would you use to analyze credit?
Imagine you have a busy day, with loan officers and clients calling constantly to inquire about the state of applications. How do you handle the stress? What do you do to ensure excellent customer service?
How would you approach a demanding loan officer/underwriter?
What documents would you ask for to begin processing a loan?

☛ How has your education/training prepared you for this job?
☛ How do you maintain attention to detail?
☛ What software do you use in this job?
☛ What useful information do you get from bank statements/credit reports/etc.?
☛ What are different types of mortgages?
☛ Explain RESPA
☛ What’s the highest number of loan files you were processing at the same time in your previous job?

☛ Recall a time you discovered a fraud
☛ Describe a time you had to multi-task to meet a deadline
☛ Tell me about the most challenging loan file you dealt with
☛ Recall a time you took an initiative to complete loan processing faster
☛ Have you ever faced an ethical dilemma at your job?
☛ Have you ever helped a client with bad credit secure a loan?

When we find unexpected debt or unseasoned waiting periods on a previously defaulted mortgage, unexpected debt from a spouse not previously disclosed, make sure we review all documents and verify with what the 1003 says, borrower not always disclose all pertinent information.

I have a BA degree in Mktg...I have trained in-house with H&R Block Mortgage Corp as a loan processor. I trained with the underwriting department to meet sign-off authority on all conditions of a loan.

Helping the customer into a first home and the American dream as they say. Some will have challenges and I want to assist the purchaser.

Show compassion and let them know what options we can do to be helpful.

Very confident. I have calculated income often as a underwriter as well as a loan processor and loan originator.

Yes, when a relationship is built and they trust me it makes my job easier and also produces recurring business and referrals.

Stay positive regardless of the circumstances. Never refer to a major problem with management and never speak ill of supervisors, co-workers or the organization. If you do, you will be the one looking bad. Keep smiling and talk about leaving for a positive reason such as an opportunity, a chance to do something special or other forward-looking reasons.