Proposal For Employee Training And Support At Guaranteed Rate

Recently, within the past few months I have experienced a large backlog within the Mortgage Loan Originators unit as we are currently short staffed due to recent changes, renewal processing period, increased amount of new applications, the conversion to Doqent. The conversion into a new system has had an impact on the backlog as new procedures in review had to be adapted and get accustomed to. This backlog continues to

Those involved in the mortgage lending process have some duty to the borrower. They are expected to perform their specific duties in an ethical manner and have some form of direct or indirect contact with the

Miller, Correspondent Broker: Ken started working with the members of La Jolla Cove Investors, Inc. to originate loans secured by first priority liens on real property in 2013. Ken founded the Northern California operations of a well-established Southern California private-money lender in 2003. Ken has over 17 years of management experience in the mortgage finance industry for such firms as SunTrust Bank, JPMorgan Chase, and Aames Financial Corporation (where his duties included serving as its Supervising Broker of Record). He holds a B.S. in Finance from Arizona State University, an M.A. in Economics from the University of San Francisco and is a licensed California Real Estate

In addition, training should also be tailored to specific positions in the company and employees roles. Management may need additional training to help deal with employee issues, while someone in purchasing may need more training on gifting policies and someone in finance needs to understand the company’s position on fraud.

Training is essential for both employees and employer if they want to be effective within the organisation and also for a company like William Hill to stay competitive within their market. The reason why training is important to employees is to enable them to achieve their maximum potential in their current position, it is needed also to develop them to create further opportunities within the organisation because employees are likely to be better educated

The regulation that I have chosen for this paper is amendment in the Regulation X i.e. “Real Estate Settlement Procedures Act” and Regulation Z which is for “Truth in Lending”, for establishing the new disclosure requirements and forms in Regulation Z for the most closed-end consumer credit transactions secured by the real property. This regulation is controlled by the Bureau of Consumer Financial Protection. The role of the Consumer Financial Protection Bureau (CFPB) is to provide consumers information related to the terms of their agreements with financial companies during their application for a mortgage, choosing among credit cards, or using any number of other consumer financial products. The mortgage market is the single largest market for the consumer of financial products and the services in the United States, with approximately $10.4 trillion in loans outstanding. Since last decade, market went through an unprecedented cycle of the expansion and the contraction that was fuelled in the part by securitization of mortgages and the creation of increasingly sophisticated derivative products. This led to the collapse of financial system in 2008 and sparked the most severe recession in United States.

In order to fix the foreclosure crisis, the supply of homes on the market will need to be sold. My plan creates a team approach to achieving this goal. The team would consist of a realtor, an appraiser, a mortgage broker, and a homeowner. The realtor will complete a market analysis for the homeowner, and the appraiser will do an appraisal for the mortgage company. The mortgage broker will assess the homeowner’s financial situation to determine what they can now afford. The realtor will help the homeowners find a new home at a price they can afford. The mortgage broker will set up a new mortgage with new strict guidelines designed to help the homeowner succeed. The homeowner

This type of one on one training would be the best way to minimize loss of production and to maintain efficiency. Due to the one on one nature of the mentor solution, the new employees would be able to get a full picture of the position through their opportunity to ask important clarifying questions. In this way, the mentor program is individualized to the employee. They are able to learn the job at their own pace, and manner. However, the biggest con to this plan is the cost. This plans makes the organization increase their number of employees therefore they would be losing money through payroll. Another downside is the time consuming nature of this solution. Due to the individualization of the plan it takes a lot of time, which costs the company money. This plan would take months to execute effectively, and because the new employees would be learning on the job, there would also be a risk of error in their daily

The mortgage crisis we are experiencing in the United States today is already ranking as among the most serious economic events since the Great Depression of the 1930’s. Hardly a day goes by without a story in the newspaper or on the cable news stations reporting about the increase in the number of foreclosures across the United States. The effects of this crisis have spread across all financial markets, where in the end all of us are paying a price for this home mortgage crisis. When the housing market collapsed, so did the availability of credit which our economy depends upon. The home mortgage crisis, the financial crisis and overall economic crisis all need to address by the

Brooklyn, NY – December 30, 2009 Foreclosures continue to rise drastically across the United States due to the recession, and have effected, and continue to affect thousands of families and individuals every day. One aspect we must take into consideration is that most people are not informed of what foreclosure means, or the process, even those who are homeowners. I believe that one step to preventing foreclosure is to educate first-time homebuyers. In addition, first-time homebuyer programs should not only assist potential buyers with financially preparing them to buy a home, but to keep the home once

Despite what appeared to be a comprehensive training department with well-meaning training professionals, Summit Credit Union’s new lenders were struggling. Although new lenders received initial training, they were unable to complete the basic requirements of their positions and deliver on Summit’s strategy of helping its members improve their financial lives and achieve their dreams (Noe, 2012, p. 147). New lenders were thrust into production without the basic knowledge and skills they needed to successfully do their jobs. After cursory analysis, it appeared that ineffective training was to blame. Not only does this hurt Summit’s ability to provide for its customers and work towards organizational objectives, but it is demoralizing to new lenders who cannot effectively do their jobs. This paper will discuss how the use of a needs assessment process will allow Summit Credit Union to determine if new lender performance issues are, in fact, rooted in ineffectual training. It will then continue on to consider how the efficacy of this assessment is impacted by who contributes to the process in addition to identifying whom Summit should choose as contributors in theirs.

Learning contracts can also be highly effective in the corporate world. Training employees is costly and can require large investments from organizations. Learning contracts allow the employee to take responsibility and increases motivation in the learning process when they are able to relate the training directly to their job responsibilities. Contracts can also clearly define the company’s expectations of the outcomes. When the expectations are defined, both instructor and trainee can track progress and stay focused on the company’s business goals and strategies.

CAPSTONE PROJECT Project Title: APPLICABLE FINANCIAL POLICIES CHANGES THAT CAN BE USED TO ENCOURAGING HOUSE AND HOME OWNERSHIP IN MICHIGAN Submitted by: Submitted to University MBA/MS Program [list one] Capstone Mentor: [name] For University Use Date Received: ______________________________________________ Reviewed by: _______________________________________________ Approved/Disapproved: ______________________________________________ Signature: ______________________________________________ Date: ______________________________________________ Comments: ______________________________________________

Employee training programs are important in a business' success. Without an effective training program implemented the business could suffer from confused employees, ill direction and incompetence. The new employee can only excel further when taken through a properly planned training program.

Similarly, Longenecker and Fink (2005) assert that the benefits derived from training are manifold, and these include; exposure to new and better practices and ideas for application, leads to reflection, self-appraisal and retrospection, motivates employees to improve performance, encourages career development planning, helps identify specific performance problems and challenges an employee to think differently, to name a few. Other benefits are a more flexible workforce, improved performance of existing employees, decreased supervision, higher skill levels and reduced learning time, thus reducing learning costs, improved organisation morale, and to ensure for succession (Molander 1989).