Home Equity Lending Program

This is a 3-Session Live E-Classroom program.

While mortgage rates remain above 7%, homeowners still need to access their home equity for various life purposes: home improvements, college tuition, health and family needs, other major purchases, debt consolidation. While this need is great, consumers hesitate to refinance their present 1^st mortgage with rates in the 3% – 5% range.

An effective home equity lending program can help community banks meet these important consumer needs in the most economical way and broaden their customer relationship.

The Home Equity Lending Series is a three-session live e-classroom program that will give your retail banking, mortgage, call center, and other customer contact employees the background and practical knowledge of different home equity programs like second mortgages, home equity lines of credit (HELOCs), and home improvement loans.

This highly interactive series also develops critical employee skills to communicate this information to your customers, explain different financing options to meet their specific needs, and remain in compliance with strict SAFE Act and Fair Lending laws that regulate what information is allowed and how to present it.

Date:  TBD
Time:  TBD
Registration is Per-Participant

Products discussed:

• Home Equity Lines of Credit (HELOCs)
• Home Equity Loans / 2nd Mortgages (amortizing payment)
• Home Improvement Loans

Part I is designed for customer contact employees who deal with the consumer directly and discuss financing needs.

This session will help you:

• Better understand the differences in Home Equity loan programs
• Better explain the programs to customers
• Match the most appropriate program to their customers’ needs
• Avoid compliance pitfalls when talking to consumers

Matching Products to Typical Customer Needs and Scenarios

Compliance Issues for Customer Contact Personnel

Part II develops more technical lending skills

This session will help you:

• Improve processing and underwriting accuracy and efficiency
• Understand the legal and compliance issues involved and avoid violations

Better evaluate the property used as loan collateral

Processing and Underwriting Guidelines

Compliance Issues and Consumer Law

Evaluating Collateral

Part III is a highly interactive, case-study/role play designed program for customer contact employees who deal with the consumer directly and discuss financing needs. Attendees will practice the principles taught in the course and get immediate feedback on their technique from peers and the instructor. The program utilizes a consultative sales approach – not a high-pressure approach.

This session will help you:

• Better explain home equity and 1^st mortgage programs to customers
• Match the most appropriate program to their customers’ needs
• Avoid compliance pitfalls when talking to consumers
• Turn conversations into applications

Topics include:

Counseling vs Qualifying vs Application –

• Compliance Do’s and Don’ts and acceptable practices

Interviewing Techniques and Best Practices

Case Studies Matching Products to Typical Customer Needs

Scenarios:   Home improvement / Debt Consolidation / Life Event Needs

Audience: MLOs, Frontline Employees, Call Center, Loan Department, and Loan Servicing.

**To ensure you get the full class experience, please have your camera on.  Having cameras on is proven to increase connection with your peers and enhance your online experience.