Practice of Mortgage Brokerage -
Chapter 10
Marketing - correct answer ✔✔process that leads to the transfer of goods, products and services
activities may include market research, product positioning, publicity, advertising and sales promotions
Positioning - correct answer ✔✔1. Define yourself - single concept that describes you
2. Be objective - plan where you are going to be and base that plan on a realistic assessment of your
abilities and the market you are serving
3. Adapt to Change
4. Be prepared to make mistakes
5. Find a Mentor
6. Know the product, market and trends
Residential Mortgage Checklist - correct answer ✔✔1. application form
2. income verification
3. down payment verification
4. appraisal
5. property inspection
6. offer to purchase and interim agreement and any amendments
7. Credit report and appropriate verification of errors or explanations
8. copy of titles
9. survey certificate (real property report)
10. mortgage insurance
11. GDS/TDS ratios
12. special comments or information
13. executive summary
Chapter 10
Marketing - correct answer ✔✔process that leads to the transfer of goods, products and services
activities may include market research, product positioning, publicity, advertising and sales promotions
Positioning - correct answer ✔✔1. Define yourself - single concept that describes you
2. Be objective - plan where you are going to be and base that plan on a realistic assessment of your
abilities and the market you are serving
3. Adapt to Change
4. Be prepared to make mistakes
5. Find a Mentor
6. Know the product, market and trends
Residential Mortgage Checklist - correct answer ✔✔1. application form
2. income verification
3. down payment verification
4. appraisal
5. property inspection
6. offer to purchase and interim agreement and any amendments
7. Credit report and appropriate verification of errors or explanations
8. copy of titles
9. survey certificate (real property report)
10. mortgage insurance
11. GDS/TDS ratios
12. special comments or information
13. executive summary
