Welcome

We're glad you've joined the team.

This module is your starting point. It tells you who we are, where we came from, what we do, and — most importantly — what we expect from you and what you can expect from us.

Lesson 1 of 6

Who we are

Four Mile Mortgage is a modern mortgage company built on traditional values. We are a division operating under the charter of Texana Bank — a 120-year-old, federally chartered commercial bank.

That dual identity is the whole point. Big lenders offer strong pricing but weak service and slow execution. Small lenders and brokers offer personal service but limited options and inconsistent execution. We exist to give homeowners both.

We combine

• The pricing, programs, and expertise of a large institutional lender
• The speed, flexibility, and accountability of a small, elite team

We are not

• A broker shop chasing deals
• A large bureaucratic bank

Lesson 2 of 6

Our parent institution: Texana Bank

Four Mile Mortgage operates under the charter of Texana Bank. When you originate a loan, you are originating it on behalf of Texana Bank. The Texana relationship is what gives us the licensing, the capital, and the credibility to operate nationwide.

Lesson 3 of 6

Our backstory

• Texana Bank acquired Mike van Loon's company in December 2021, based in Orange County, CA
• Peak: 150+ employees, ~$100M monthly funding volume
• Footprint shrank in June 2022 as rates climbed historically fast
• End of 2023: consolidated investment in Denver for Growth and Scale
• Today: Four Mile Mortgage — powered by Texana Bank

Lesson 4 of 6

Leadership

You'll work directly with the following leaders. Know who they are and how to reach them.

Mike van Loon — President / Branch Manager

• 10+ years in CEO and leadership roles in mortgage companies
• Versed in marketing, sales, operations, and capital markets
• Built the operation Texana Bank acquired in 2021

Patrick Leland — Sales Manager

• Manages day-to-day sales floor operations and LO performance
• Your primary escalation point for coaching, deal structure, and pricing exceptions

Lesson 5 of 6

A safe work environment

We strive to create a safe work environment for every member of this team. If you ever feel uncomfortable or harassed — by a coworker, a manager, a borrower, or anyone else — notify someone immediately. Do not wait. Do not try to handle it on your own.

Escalation path

Follow this path in order. If at any step you are uncomfortable escalating in this office, skip directly to Samantha Byrnes.

• Start with Patrick Leland, Sales Manager
• Escalate to Mike van Loon, President / Branch Manager
• If for any reason you are uncomfortable escalating in this office, contact Samantha Byrnes, Head of HR at Texana Bank, directly at samantha.byrnes@texanabank.com

Lesson 6 of 6

What we do and what we expect

We are a direct-to-consumer mortgage banker focused on refinance. We market nationwide, interview borrowers to learn their goals, underwrite their credit, structure a loan that meets those goals, and SELL the benefit of that loan. We then process, underwrite, lock, document, and fund the loan — we're a fully integrated correspondent lender.

Loan products we originate

• FHA Cash-Out Refinance — Access home equity to consolidate high-interest debt, fund retirement, or improve the home
• VA Cash-Out Refinance — Up to 100% LTV for eligible Veterans
• VA IRRRL (Streamline) — Lower the rate and payment, typically no appraisal, no income docs, no out-of-pocket costs
• FHA Streamline — Reduce rate and payment with minimal documentation
• Conventional Refinance — Rate-and-term or cash-out for borrowers who qualify conventionally

Our values (non-negotiables)

• Work like you mean it — Take initiative, no shortcuts, stay engaged, 8 full hours of effort
• Be a professional — Read the room, handle confrontation constructively, no negativity, attitude of gratitude
• Respond quickly — Tasks, management, borrowers — be responsive. Be coachable.

Sales expectations

• Read the script — follow the process every time, no shortcuts
• Respect the leads — notes and status in every record, regardless of call length
• Don't let loans roll into the weekend — they vanish
• SELL — this is not a customer service job. If there's a benefit in the loan, SELL IT.

Resources for this module

Overview

How loans actually work — and how we make money doing them.

You're about to spend the rest of your career talking to borrowers about mortgages. This module covers the fundamentals: what a mortgage is, why people take them out, how VA and FHA programs work, and how loan pricing actually flows from the secondary capital markets to your borrower's rate sheet.

The goal isn't to make you a capital markets analyst. The goal is to make sure that when a borrower asks "why is my rate higher than what I saw online?" or "what's a point?" you can answer with confidence and authority.

Lesson 1 of 6

What is a mortgage?

A mortgage is essentially a mini-bond — an agreement between a borrower and a lender that gives the lender the right to take the borrower's property if they fail to repay the money they've borrowed, plus interest.

The lender's decision to approve the loan comes down to three things about the borrower (their FICO score, their income, their other debts) and one thing about the property (value of the home vs. amount being loaned). Every approval and denial in this business comes back to those four numbers.

PITI — what's actually in a mortgage payment

Why borrowers need mortgages

• Purchase Mortgage — to buy a new home
• Refinance Mortgage — to lower the monthly payment by getting a better rate or term
• Cash-Out Mortgage — to trade equity in the home for cash (pay off debt, fund retirement, home improvements)

Lesson 2 of 6

How loans are structured

Every loan we originate has the same six structural elements. When you're pitching, you're really just adjusting the trade-offs between these.

• Term — typically 15 or 30 years. Longer term = lower payment but more total interest paid.
• Rate — the "rent" or interest the borrower pays on the outstanding balance
• Fees — any expenses the lender incurs and charges the borrower for funding the loan
• Points / Price — what the borrower pays (or receives as credit) to move the rate up or down
• Payment Amount — the monthly P&I the borrower writes a check for
• Escrows — additional monthly amounts collected to pay taxes and insurance when due

Lesson 3 of 6

VA vs FHA — the government loan programs

The FHA (Federal Housing Administration, a division of HUD) and the VA (Department of Veterans Affairs) are the two federal insurance agencies that back our government loans. Neither agency makes loans directly. They insure loans that lenders like Texana Bank make, which is what lets us offer lower rates and more flexible guidelines than a conventional loan.

Side-by-side comparison

Lesson 4 of 6

LTV and DTI — the two qualifying ratios

Two ratios drive almost every approve / decline / restructure decision in this business: LTV (Loan-to-Value) and DTI (Debt-to-Income). Know them cold.

LTV — Loan-to-Value

LTV = Loan Amount ÷ Home Value. It tells the lender how much equity is in the deal. Home values come from Zillow as an estimate for the call; the final value is confirmed by an appraisal.

DTI — Debt-to-Income

DTI = Monthly Debt Payments ÷ Gross Monthly Income. It tells the lender if the borrower can afford the loan. FHA DTI guidelines tier by credit score:

Lesson 5 of 6

Capital markets & loan pricing

When you tell a borrower their rate, where does that number actually come from? The answer is the secondary capital market — the marketplace where lenders sell closed loans to investors like Fannie Mae and Freddie Mac. Investor demand in that market determines the rates lenders can offer.

The par rate and the "100"

Rate sheets show the trade-off between interest rate and upfront cost. The reference point is par, expressed as the number 100:

Example — $200,000 loan at three different prices

Pricing adjustments — what moves the rate up or down

Every borrower's profile triggers pricing adjustments off the par rate. These are baked into the rate sheet:

• Credit score — biggest impact. Higher = better rate.
• LTV — lower is better
• Property type — single family is best; condos and manufactured homes cost more
• Occupancy — primary residence is cheapest; investment properties are most expensive
• Loan purpose — purchases get the best pricing; cash-out refis take hits
• Loan amount — conforming is standard; jumbo loans often have hits
• Documentation — full doc gets the best pricing
• DTI — high ratios trigger adjustments

A real "challenging" pricing scenario

That's a $15,500 cost to the borrower for a 6.875% rate on a $400K loan. This is why pre-qualification and rate-quote accuracy matter so much.

Lesson 6 of 6

Your role in this — the LO in the production chain

Knowing all of this is one thing. Your actual job, every shift, is the front end of the production chain:

• Take inbound calls from leads our marketing has generated
• Pre-qualify the borrower against the right loan program (VA, FHA, conventional, IRRRL, streamline)
• Pull credit, structure the loan, get the LTV and DTI to work
• Build a pitch that emphasizes the borrower's benefit — payment, cash-out, or both
• Get them disclosed and signed the same day if possible
• Hand off cleanly to processing once you've earned the deal

Resources for this module

Overview

The tools that turn a ringing phone into a funded loan.

A loan officer's day is the sum of dozens of moves: pick up the call, take notes, pull credit, structure the loan, send disclosures, follow up. Each system below handles one slice of that. Master them and the work becomes fast and repeatable. Fight them and you lose deals.

This module covers your five-system stack, how data flows from a marketing lead to a funded loan, the eleven-stage workflow you'll run on every borrower, and the whiteboard and lead-status discipline that keeps your pipeline honest.

Lesson 1 of 7

Your five-system toolkit

Five core platforms run your day. Each has exactly one job. The magic isn't in any single tool — it's in how they hand off to each other. Learn what each one does and where it sits in the chain.

Lesson 2 of 7

How a lead becomes a funded loan

Follow the data. Every system feeds the next, and a missed step anywhere breaks the whole chain. This is the path a borrower travels from a mailer in their hands to a wired loan.

Lesson 3 of 7

The systems up close

Here's what each platform actually does and how you'll touch it every shift.

Aircall — your phone is the front door

A cloud-based softphone — no hardware, just an app on your computer and mobile. It handles inbound queues, outbound dialing, SMS, voicemail, and call recording, and integrates with GrowSimple. Mortgage is a contact-rate business: the faster you pick up, the more apps you take.

• Inbound queues by product — VA Cashout, FHA Cashout, VA IRRRL, FHA Streamline, Refi Transfer, Conventional Refi
• Click-to-call from a lead record — no manual dialing
• Power dialer for follow-up lists and Shark Tank outbound
• Calls are recorded and mapped against our scripts — the recording library is your free coach
• Set yourself Available before queue time; Unavailable pulls you off rotation

LeadMailBox — every lead has a status, always

Our Lead Management System and your sandbox for the first 3 to 5 days of a lead. Status the lead in LeadMailBox after every action; put your notes in GrowSimple. Beyond 5 days, you map the LeadMailBox status into a GrowSimple status so the agency can nurture it.

Encompass — the loan lives here

The industry-standard Loan Origination System from ICE Mortgage Technology. Every form, disclosure, condition, and credit pull lives here. When the underwriter, processor, or compliance team needs to know something about your file, this is where they look.

• Open Encompass in the Prospect folder, then start a new file
• Choose the loan template before opening the file
• Fill the VA Questionnaire / 1003 / URLA accurately
• Run AUS (Automated Underwriting Service)
• Prep and send eDisclosures to the borrower

GrowSimple + MediaSimplified — the nurture engine

If a direct-mail call or appointment doesn't make it into Encompass in 5 to 7 days, it lives in GrowSimple, our agency partner's CRM (a white-label of GoHighLevel). MediaSimplified runs ad campaigns and appointment setters that work alongside us to nurture leads into a re-app and get them back into Encompass.

The supporting cast

Tabs you keep open all shift: Microsoft Teams (chat with processors, managers, underwriting), Outlook (client and internal email), the Four Mile Loan Calculator, CIC Credit (tri-merge credit pulls), the appraisal portals (VA WebLGY for VA, Reggora for FHA/conventional), and Microsoft Authenticator for two-factor login.

Lesson 4 of 7

Before the phone rings — your start-of-shift setup

Setup is the difference between catching the call and losing the lead. Every shift starts the same way. Before the queue opens, these are up and you're logged in.

Lesson 5 of 7

From inbound call to funded — the 11-stage workflow

Every funded loan is the sum of eleven stages run in order. Each stage hands the file to the next — no gaps, no losses. The average loan moves through stages 1–5 on call one; stage 6 (structure & price) is offline between calls; stages 7–9 happen on call two.

Stages 1–5 · The first call

• 1 · Call comes in — Aircall routes it to the right product queue. Answer in under two rings. Note it on the whiteboard in the queue's color and ask for the Ref ID at the top-left of the mailer.
• 2 · Convert to a lead — In LeadMailBox: Lists → Search the Ref ID → Convert. At the end of call one, set any status other than "New."
• 3 · Start the file — In Encompass, navigate into the Prospect folder, choose the loan template that matches the queue, and fill the VA Questionnaire before saving.
• 4 · Work the first-call script — Bond → Discover goals & pain → Include the spouse → Take income/property/debt → Earn the credit pull.
• 5 · Pull credit, review live — Run a tri-merge through CIC Credit. Review the report line by line with the borrower. "Just need your social to proceed."

Stages 6–8 · The pitch call

• 6 · Structure & price — Test scenarios in the calculator, cross-check AUS in Encompass, submit to the sales manager for pricing, then build ONE pitch with two backups.
• 7 · Pitch the loan — 45 minutes of the borrower's full attention, all decision-makers on the line, energy and confidence throughout.
• 8 · Disclose & sign — Disclosures flow Encompass → Maverick (our POS). Walk the borrower through identity verification, password, and Review & Sign live, on the phone.

Stages 9–11 · Into processing & funding

• 9 · Collect docs & submit — Gather 2–3 docs while still on the pitch call, then submit to the processor. A short list closes; a long list overwhelms and backs out.
• 10 · Conditions to clear-to-close — Intro the borrower to the processor, order the appraisal (WebLGY for VA, Reggora for FHA/conv), clear conditions, approve the CD, then the mandatory 3-day wait.
• 11 · Close & fund — Give the processor the appointment time, confirm the notary, stay reachable on closing day, and status the lead Funded in LeadMailBox once it wires.

Lesson 6 of 7

Lead statuses, status groups & the Shark Tank

About 75% of your day is prospecting — outbound calls, follow-ups, and working the Tank. The whole pipeline runs on lead statuses. Know every status, what triggers it, and how long you have before LeadMailBox flips a lead public.

How leads go public (the Shark Tank clock)

Lesson 7 of 7

The whiteboard — the floor's shared scoreboard

The whiteboard at the front of the office tracks every call in real time. Stay diligent about updating it with the correct outcomes and colors — managers and the floor read it all day. Find your name at the top; you get three vertical boxes, one per stage of the borrower's journey.

Queue colors (mark the call the color of the queue it came in on)

Box 1 (top) — every call

Write down every call here, whatever the outcome, to track that it happened. Format: Last name – outcome (next steps/time). Outcomes include DNC (do not contact), DNQ (do not qualify — state why: LTV, DTI, or C for credit), CP (credit pulled), and NI (couldn't move them to a credit pull).

Box 2 (middle) — qualified, needs a pitch

Borrowers whose credit you pulled, who qualified, and who you need to follow up to pitch. Write their name and the scheduled day/time. Outcomes: GHOST (scheduled, didn't answer — follow up 5x by week's end), NI (pitched, no sale), B (Booked — they said yes, now close them).

Box 3 (bottom) — they said yes

This box is all about urgency: get disclosures signed and stips in so you can hand off to processing. Re-color the name to the product you actually booked. Progress marks build to the bullseye:

• Right-facing slash ( / ) — all supporting docs sent in
• Left-facing slash ( \\ ) — all disclosures and docs signed
• Circle enclosing ( ☉ ) — loan submitted to processing

Resources for this module

Overview

The Call One script is the most important thing you'll learn here.

Call One is where you earn the right to pitch. You take a complete application, review credit collaboratively, build an emotional vision of the borrower's goals, and lock in a second call where you present the numbers. Every product we run — VA Cash-Out, FHA Full Doc, FHA Streamline — uses the same eight-stage spine. Learn the spine, and the product-specific differences become easy.

This module walks the script the way we coach it: not just the words, but the purpose of each phase, the psychology behind it, the desired answer you're steering toward, and the rebuttals for the objections you'll hear on every call.

Lesson 1 of 9

The anatomy of Call One

Whatever product the borrower called about, Call One runs the same eight stages in the same order. Stages 1–3 happen on the phone, you break to Encompass to take the 1003 and pull credit, then stages 4–8 close out the call and set up the pitch.

Lesson 2 of 9

Stage 1 — Introduction & email capture

What you say

"Thank you for calling in today. My name is [NAME], I am a federally licensed advisor, license number [NMLS #]. May I have your reference ID number please?" Verify the name and address, capture the best callback number, then capture the email: "The system is asking me to update your email address — what's the best email for you?" Confirm the spelling. Do not send the test email yet. On a VA call, ask about and thank them for their service.

The purpose

The first 30 seconds set the power dynamic. Stating your name and NMLS number immediately positions you as a licensed professional, not a telemarketer. Capturing the phone and email early means that if the call drops, you can recover the lead.

Objection · "I'm busy right now."

"I completely understand, [Name]. I just need two minutes to verify your file so I can get to work on your numbers while you go about your day. What branch did you serve in?"

Lesson 3 of 9

Stage 2 — Bonding & the up-front contract

What you say

Anchor to the parent bank: "Four Mile Mortgage is a division of Texana Bank — a 120-year-old, federally chartered bank and Member of the FDIC. What that means for you is you get the rates and lending power of a large institutional bank combined with a dedicated team that handles your file personally from start to finish." Add the proof: "We've helped over 14,000 borrowers in 15 years fund more than $4.5 billion in loans." Then set the up-front contract — tell them exactly what's about to happen and ask permission: "I'm going to ask you some questions about your home, your income, and your credit… Does that sound fair?"

The purpose

Borrowers are skeptical of mortgage call centers. Anchoring to Texana's history borrows that institutional trust. The up-front contract is the key tool: when the borrower agrees to the roadmap now, they're far less likely to resist when you ask for their SSN later.

Objection · "You're not my bank — I'll talk to my current lender."

Validate the loyalty, then reframe: "Your current lender is a servicer. Their job is to collect your payment every month, not to find you a better deal — in fact it's almost never in their interest to lower your rate, because that reduces the interest they earn from you. All I'm asking for is five minutes. If it doesn't beat what your current lender can do, you haven't lost anything. Fair enough?" Never argue against their loyalty — validate it, then reframe to accessing a benefit their servicer has no incentive to offer.

Lesson 4 of 9

Stage 3 — Goals & vision discovery

What you say

"What are you looking to accomplish? What's most important to you right now?" Take detailed notes and probe the why behind each goal. Then ask the Vision-Builder: "If we can get all of this done — the debt paid off, the payment lowered — what does that mean for you and your family on a day-to-day basis?" Summarize their goals back in their own words.

The purpose

People don't buy mortgages — they buy what the mortgage does for them. "Pay off debt" is a surface goal; underneath it is less stress, more cash flow, sleeping better at night. If you don't anchor the borrower to an emotional vision now, you'll have no leverage when they object to closing costs or points on Call 2.

Lesson 5 of 9

Stage 4 — The 1003 & collaborative credit review

This is the break point. Stop the script, go to Encompass, and complete the 1003 (property, income, borrower & co-borrower info, eligibility), then pull credit. Return to the script for the credit review.

What you say

"I have your credit report in front of me. What I want to do now is go through it together — not as an audit, but so we can identify exactly which accounts we can pay off and how much that frees up for you each month. Do you have a pen and paper?" Walk the mortgage first, then every other account: balance, minimum payment, what they actually pay, the rate, and whether they want it paid off. Total it up: "It looks like you have [#] accounts and you're paying $[TOTAL] on high-interest debt every month. Does that sound right?"

The purpose

The shift from friendly discovery to data collection can feel interrogational if mishandled. Frame the 1003 as "tailoring the solution." Never sound judgmental on credit — frame it as a team exercise. Having them physically write down their debt payments makes the pain of their current situation tangible, which fuels the pitch later.

Lesson 6 of 9

Stages 5 & 6 — Assets, then prepping the solution

Stage 5 · Assets & additional cash out

"The underwriters also want to know what liquid assets you have available — roughly how much in checking, savings, or retirement?" Probe non-liquid assets too (401k/IRA, stocks, life insurance cash value). Then plant the cash-out seed: "If I can make it affordable, is receiving extra cash something you'd be interested in? If so, how much?" Frame asset questions as "strengthening the application" so the borrower understands why you're asking. For a paycheck-to-paycheck borrower, extra cash out is an emergency cushion they haven't had in years.

Stage 6 · Prepping the solution — strengths first, always

Lead with compensating factors: stable income, on-time mortgage history, home equity. Then introduce challenges as minor, solvable hurdles you'll work through together — credit score, inquiries/derogatories, low liquid assets.

Lesson 7 of 9

Stage 7 — Email confirmation & the live test

What you say

Confirm the email on file. If there's a co-borrower or spouse who must sign, capture a separate email for them. "I'm going to send a quick email to both of you right now — it has my direct contact info and a link to our website. Can you keep an eye on your inboxes?" Send the test to www.fourmilemortgage.com and wait for each person to confirm receipt: "Do you both see it? Perfect — that confirms we have the right addresses and your loan documents will come through without any issues."

The purpose

Technology failures kill momentum. If you discover a typo'd email or a shared inbox on Call 2, the emotional high of the savings presentation evaporates while you troubleshoot. The live test clears the pipes before the critical closing call.

Lesson 8 of 9

Stage 8 — Setting the second call & competitive defense

What you say

"I'm going to take everything we've discussed to our lending committee. They typically turn this around in less than an hour — so I'd like to schedule a callback at [SPECIFIC TIME]. Does that work for you and [CO-BORROWER]?" Lock a specific time with both parties present. Then secure the number: "I'll be calling from [CRM NUMBER]. Can you write that down right now? … Now add it to your contacts so my name comes through. I'll wait." Close with the final commitment: "Based on everything we've discussed, are you feeling good about the direction we're heading?"

The purpose

Time kills deals. The borrower is engaged and excited right now; if you push the callback to tomorrow, that excitement fades. Push for one hour. Saving your CRM number is non-negotiable — the single biggest reason Call 2 fails is the borrower not answering.

Lesson 9 of 9

Same spine, different products

All three scripts share the eight-stage spine. Here's what changes by product — know which call you're on and adjust the bonding, the qualifiers, and the documentation you gather.

Resources for this module

Overview

Build the file right, the first time, before you ever pull credit.

In Module 4 you learned the Call One script. This module covers what happens when the script says "STOP HERE — GO TO ENCOMPASS." You'll work the VA Questionnaire — our entry point to the 1003 — section by section, in the same order you'll do it live on the phone, then pull credit through CIC.

The discipline here is simple: every blue field must be filled out correctly before you can pull credit. Garbage in means a garbage credit pull, a wrong structure, and a borrower you can't actually help. Do it right and the file flows straight into structuring and pricing.

Lesson 1 of 8

Start the file & choose the right template

Toggle back and forth between reading the Call One script and filling out the form. If you're unsure where something goes, take notes on the script and back-fill it.

Creating the file

• In Encompass, use the loan folder selector at the top-left and click Prospect so it's the only folder highlighted
• Click the green page-with-a-plus icon to start a new file
• Open default templates and select whichever template matches the queue the call came in on

Template & closing-cost selection

The loan template sets the loan purpose and the closing-cost defaults. For example, a VA Cash-Out uses the VA-CO template with Loan Purpose = Cash-Out Refi and the Default – VA Refinance closing-cost template; a VA IRRRL uses VA-IRRRL with the Default – VA IRRRL template. Picking the template before you open the file is what gets the right forms and fees in place.

Lesson 2 of 8

Borrower questions

Start at the top of the VA Questionnaire with the borrower section. This captures who's on the loan and how, and feeds directly off the Call One script.

• Veteran status and branch of service (and whether the spouse is also a veteran)
• Goals and objectives — capture what they told you on the call
• Whether anyone else is on the application; if so, joint vs. not-joint and co-applicant info
• Best callback number and whether it's cell, home, or work
• Marital status for each applicant

Title vs. mortgage — a key distinction

Title means ownership of the house; it is not the same as being on the mortgage. Someone can be on title without being on the mortgage.

Lesson 3 of 8

Verification of info & property questions

Verification of information

Verify the spelling of first and last name, any middle name or suffix, how the name appears on the latest mortgage statement, residency status, mailing address, phone, date of birth, and dependents (and their ages). You'll need the address verified to pull credit.

Property questions

• Confirm it's a primary residence; capture property type (single family, townhome, condo) and whether it's stick-built or manufactured
• Enter the full property address — and look up and add the county online, since it's not always auto-filled
• Capture how title is currently held and the manner of holding (sole ownership if alone; tenancy in common if married)
• HOA details if applicable, year built, purchase price/year, and the borrower's estimate of current value

Lesson 4 of 8

Employment, income & grossing up

Fill out the employment and income section completely. For a currently employed borrower, capture two years of employment history — employer name and the exact dates employed. Add co-borrower income if applicable. For fixed income, always use the gross amount.

Grossing up non-taxable income

Non-taxable income — like VA disability — can be "grossed up" because the borrower keeps more of it than taxable income. The gross-up multiplier depends on the program:

Lesson 5 of 8

Veteran status (VA loans)

For VA loans, scroll down to the veteran status section after verifying info. Answer the service questions accurately — they drive eligibility and the funding-fee calculation.

• Whether this is the first use of the VA loan guarantee program
• Whether the borrower is currently serving on active duty
• Expiration date of service or tour (if active duty)
• Whether the borrower is currently retired, discharged, or separated; periods of active service
• Surviving spouse status, if applicable

Lesson 6 of 8

The declarations

Answer the declaration questions for both borrower and co-borrower where applicable. These are the legal disclosures about the borrower's situation, and underwriting reads them closely. Key items include:

• Will you occupy the property as your primary residence?
• Any ownership interest in other property in the last three years?
• Are you a co-signer or guarantor on any debt not disclosed?
• Outstanding judgments; currently delinquent or in default on a federal debt?
• Party to a lawsuit with potential personal liability?
• Conveyed title in lieu of foreclosure, completed a pre-foreclosure/short sale, or been foreclosed upon in the past 7 years?
• Declared bankruptcy within the past 7 years (and which chapter)?

Lesson 7 of 8

Pulling credit through CIC

All information must be filled out properly before you can pull credit. Complete the verification-of-information payment fields (on the dropdown, always select "Equity on SP") and the credit authorization for the borrower — and the co-borrower if applicable.

The pull

• Pull credit live on the phone — place the borrower on hold while you run it
• Select the CIC pull, enter all info, and order it
• First time pulling? Log into your CIC account when prompted
• A PDF of the report pops up — download and file it so you can review it line by line with the borrower

Lesson 8 of 8

Qualify — or withdraw the file

Once credit is back, there are exactly two paths.

Resources for this module

Overview

Read any credit report and decide if a borrower qualifies.

By the end of this module you'll be able to open a tri-merge credit report, find the qualifying score, read every tradeline, count the derogatory events, and match the borrower to the right program. Credit is the gate every refi passes through — get fluent here and you'll know within minutes whether a deal is real.

This module is built around an actual redacted CIC pull. We'll work through it section by section, then put it all together with one question: does this borrower qualify?

Lesson 1 of 9

Credit report basics — soft vs. hard, and the tri-merge

A credit report is a statement of a borrower's credit activity and current position. Lenders use it to decide approval, pricing, and program fit. It shows every open and closed account, month-by-month payment history, balances and utilization, public records, address and employment history, and recent inquiries.

Soft pull vs. hard pull

The tri-merge — three bureaus, one report

Mortgage reports pull all three bureaus — Experian, TransUnion, Equifax — and merge them. Each returns its own FICO on a slightly different scale. The middle score is the qualifying FICO.

Lesson 2 of 9

FICO scores & reason codes

At the top of page 1, each bureau lists its score, the score's range, and the top reason codes pulling it down. Each bureau shows its top four or five factors hurting the score — most commonly serious delinquency, accounts with lates, and high utilization.

What to look for

• The score spread between bureaus
• The top reason codes — use these to coach the borrower on what to fix
• The middle score, which decides program qualification

Lesson 3 of 9

Credit score minimums by program

Investor overlays and pricing tiers matter as much as the published minimum. Know the floors, but know the pricing reality too.

Lesson 4 of 9

The Trade Summary & Derogatory Summary

Trade Summary — the 30-second snapshot

At the top of page 2, the Trade Summary rolls up every account by type (mortgage, auto, revolving, installment) with counts, balances, payments, and amounts past due. It also gives you total debt vs. high credit and revolving utilization at a glance.

Derogatory Summary — the damage count

Just below the Trade Summary, this section counts every late, charge-off, collection, and public record. Each 30/60/90-day count tells you how heavy the damage is; "most recent late" tells you how recent.

A most-recent-late of 09/25 means we're still inside many 12-month windows — which drives program eligibility directly.

Lesson 5 of 9

Anatomy of a tradeline

Every account uses the same layout. Learn it once and you can read any line on the report.

Lesson 6 of 9

Mortgage lates — the make-or-break item

Every refi guideline starts with mortgage payment history. On every tradeline marked MTG, read the 30/60/90+ columns and the history line. Then apply the program rule:

Lesson 7 of 9

Charge-offs, collections & identity verification

Charge-offs & collections

Read the status field on the right of each tradeline — "CHARGE OFF," "COLLECTION," "PD WAS 60," and so on. A non-zero past-due amount means the borrower still owes on a written-off account. The DLA tells you how recent it is; recent derogs typically need an LOE plus a likely payoff condition.

• Flag every charge-off and collection
• Ask the borrower what happened — job loss, medical, divorce
• Coach a Letter of Explanation: what, when, how it resolved, what prevents it now
• Be honest — recent charge-offs may need to be paid off as a loan condition

Inquiries, addresses & employment (page 4)

Recent hard inquiries each represent another lender who pulled the file; multiple inquiries in 30 days can drop the score and signal credit-shopping. Address variations should be cross-checked against the 1003 — under two years at the current address means you need a prior address. Employer records let you verify the employment history the borrower gave you on Call 1.

Lesson 8 of 9

Importing liabilities into Encompass

Once you've pulled credit and reviewed it with the borrower, bring the liabilities into the file so you can structure the loan.

• On the VA Questionnaire, scroll to the Credit Authorization section
• Hit import liabilities to bring them into the Encompass Liabilities section
• Use Show All (VOL) to access additional accounts
• Then go back to Property Questions → Show All (VOM) to handle the mortgage

Adding the mortgage (VOM)

Hit the green page icon to add the mortgage. Make sure the VOM is for the borrower and the subject-property address matches; property type varies by property. Once complete, click Attach/Show Liens and select the mortgage. If there's more than one property, repeat by adding another VOM line. If you don't see the ability to attach the mortgage, add it to the VOL worksheet first — or, if the property is owned free and clear, click OK without selecting a liability.

Lesson 9 of 9

Writing a derogatory Letter of Explanation (LOX)

Underwriters require a high-quality, detailed LOX whenever derogatory accounts appear — late payments, collections, charge-offs. A strong LOX can be the deciding factor in approval. Because we rarely get a second chance at these letters, draft them carefully before submission; if one is weak, revise it rather than waiting for underwriting to push back.

The five required elements

• Specific situation — what happened (job loss, medical hardship, divorce, deployment, identity theft). Specific to the borrower, not generic.
• Timing & correlation — dates that line up with the derogatory activity. "From March–June 2022 I was laid off, which matches the late auto and card payments."
• Resolution — how the situation ended or improved (returned to work, income stabilized, debts settled).
• Supporting documentation — layoff letters, medical bills, award letters, divorce decree, pay stubs, settlement agreements. Without docs, underwriters reject it as unsubstantiated.
• Future mitigation — what prevents a repeat (auto-pay, paying off the derog with loan proceeds, higher reserves).

The structure to give the borrower

Paragraph 1: state the issue, naming accounts by creditor and date. Paragraph 2: the event(s) that caused it, with date ranges. Paragraph 3: how and when it resolved and why it no longer affects repayment. Paragraph 4: the corrective actions taken. Close by reiterating responsibility and commitment to timely payment.

Putting it together

Case study — does this borrower qualify?

Apply everything to the training pull. The facts: middle FICO 570; current mortgage (Planet Home) with one 30-day late in 9/25; a prior mortgage (Amerisave) with eleven 30-day lates ending 6/25; a Cap One charge-off with $11,137 past due; revolving utilization 101%; total debt/high credit 94%.

Resources for this module

Overview

You're a detective. The income has to be real, stable, and likely to last.

Every loan file is a case to be solved. You aren't just filling out forms — you're building a case to prove the borrower can afford this loan. Your job is to gather the evidence that proves the income is real, stable, and likely to continue. Without evidence, there is no loan.

This module covers the five income types you'll see most, the documents each one requires, and the rules that decide whether you can actually use a given income. Get this right on Call One and you avoid the worst delay in the business: a closing held up because a document is missing.

Lesson 1 of 9

The big picture — Real, Stable, Lasting

Before you look at any single document, hold every income source up to three questions. If it fails any one of them, you can't count it.

Lesson 2 of 9

Income Type 1 — W-2 employees

The standard paycheck earner, and the most common. They work for a company, get a regular paycheck, and have taxes deducted automatically. We love them because their income is usually stable, predictable, and easy to document.

Lesson 3 of 9

Income Type 2 — self-employed

This bucket includes freelancers and contractors (anyone receiving a 1099), business owners, and gig workers (rideshare drivers, realtors, consultants). Their income fluctuates — some months are great, some are slow — so we calculate a 2-year average to determine stable monthly income. We look at what they reported to the IRS, not just what they say they made.

The full document set

• Personal tax returns (Form 1040) — last 2 years, all schedules, signed. Don't send just the first two pages; we need the whole packet.
• Business tax returns (1120 / 1120S / 1065) — last 2 years if the borrower owns 25%+, including K-1s. If they own less than 25%, usually just the K-1s.
• Year-to-date Profit & Loss — the "pulse check" that proves the business didn't crash after the last filing. Signed by the borrower; sometimes requires CPA review.

Lesson 4 of 9

Income Type 3 — Social Security

How you treat Social Security depends on whose record it's based on.

Lesson 5 of 9

Income Type 4 — pension & retirement

Traditional pension — usually easy

A traditional pension usually continues for life, so there's no continuance math. Document it with the pension award letter (best — look for the gross monthly amount and start date) or a 1099-R.

401k / IRA draws — do the 3-year math

Distributions from a 401k or IRA are different: you must prove the money will last. Document with an asset statement, then run the math:

Lesson 6 of 9

Income Type 5 — VA disability

The "golden ticket" of income. VA disability is considered permanent — it has no expiration date, and unlike other benefits you do not need to prove it will continue for three years.

Lesson 7 of 9

The 3-year continuance rule

This is the single rule that decides what income you can actually use. The question: can we prove this income will last for at least three more years from the application date? Some income is presumed stable; some you must prove.

Lesson 8 of 9

Your golden rules

• You are a detective. Don't just collect paper — read it. If the paystub shows a garnishment, ask about it now.
• The 25% rule. If they own 25% or more of any business, they're self-employed — you need tax returns, not just W-2s.
• Check continuance. Alimony, child support, distributions — if it doesn't continue for three years, you can't use it.
• When in doubt, ask. It's always better to over-collect documentation up front than to delay a closing because something is missing.

Lesson 9 of 9

How income feeds the guidelines

Income documentation isn't an end in itself — it's the fuel for the qualifying math you met in earlier modules. Once you've established usable income, it drives the borrower's DTI and the loan structure.

• DTI — usable monthly income is the denominator of both the front-end (housing) and back-end (total debt) ratios. More usable income, or less debt, reshapes the math in the borrower's favor. (See Module 6 for the FHA tiers: below 580 tightens DTI to 31/43; above 580 stretches to 47/55.)
• Grossing up — non-taxable income like VA disability (×1.25 on VA) and Social Security (×1.15 on FHA) raises usable income and improves DTI. (See Module 5.)
• Mortgage-late and score thresholds — income qualifies the borrower for a payment, but credit qualifies them for a program. Both have to clear. (See Module 6.)

Resources for this module

Overview

One tool builds the scenario, the savings, and the pitch script.

The Loan Scenario Calculator is your engine for the second call. It builds and compares refinance scenarios in real time — loan amounts, monthly payments, savings projections, recoup periods, and eligibility flags — and then generates a fully populated, borrower-specific pitch script with the exact dollar figures already filled in. No spreadsheets, no manually inserting numbers into a script template.

Lesson 1 of 9

The four loan types & the Quick Decision Guide

The calculator supports four refinance products, each with its own data requirements, eligibility rules, and calculation logic. The home screen's Quick Decision Guide maps the borrower's current loan and goal to the right product — use it whenever you're unsure which to select.

Lesson 2 of 9

The 4-step wizard

Every loan type follows the same four steps. The progress bar shows where you are, and the Back button lets you move backward without losing data.

Where the key numbers come from

Lesson 3 of 9

Rate & loan options — ask your manager for pricing

Step 3 is where you enter proposed rates and configure loan-specific settings. The calculator supports up to three rate scenarios at once. For each option, enter a descriptive label ("Best Rate," "No Points"), the rate, the term (15/20/30), and the net points or credit.

VA Funding Fee & default fees

For VA loans, enter disability status and usage type — the fee percentage is calculated automatically and added to the loan amount. If the borrower is exempt (e.g., receiving VA disability), toggle Funding Fee Exempt and the fee drops to $0. Default settlement fees: Title Services ~$2,150, Appraisal/Pest/Water ~$750 (not applicable on streamlines), Other Fees ~$800, and 6 months of T&I escrow.

Lesson 4 of 9

Loan-type deep dives

Lesson 5 of 9

The Net Tangible Benefit (NTB) test

The NTB test is the key eligibility gate for the FHA Streamline — and it's one of the program tests we deferred from Module 7 to work here with real numbers.

If a scenario shows NTB Not Met, do not present it. To fix it: ask your manager for pricing on a lower rate option, or consider adding lender credits to reduce the effective rate. If no viable rate clears the 0.50% threshold, the borrower simply doesn't qualify for an FHA Streamline at this time.

Lesson 6 of 9

Reading the results page — badges & savings

The results page shows up to three scenarios side by side. The first thing to check on every column is the eligibility badge.

The savings figures

The key number is Monthly Savings (P&I) — the difference between current and proposed P&I — which is the primary figure used in the pitch script. The Savings Summary then rolls that up: Year 1 savings (monthly × 12), 5-Year (× 60), and Lifetime interest savings, plus how many months the loan term is reduced. A red Monthly Increase means the proposed payment is higher than the current one.

Lesson 7 of 9

The recoup calculation

Recoup shows how long it takes the borrower's monthly savings to offset the cost of the refinance. It's a critical talking point on the pitch call, and the other program test deferred from Module 7.

"Net Service Fees (All-In)" is the total cost to the borrower — title services, origination fee, other fees, and points/credit — and it's the same figure you'll present as "total closing costs." Note that points add to the cost (positive) while lender credits reduce it (negative).

Lesson 8 of 9

The integrated pitch script

Click Import to Script on the results page and the calculator generates a second-call pitch script, pre-filled with the borrower's name and every dollar figure from the selected scenario. It assumes Call One is done and walks the loan in an order designed to maximize engagement and minimize objections.

Lesson 9 of 9

The recommended workflow

• Before Call 1 — pull credit; identify the current loan type, balance, rate, and payment; use the Quick Decision Guide to pick the product.
• During Call 1 — gather the vision statement and any missing data (home value, MIP/PMI). Don't run the calculator during Call 1 — focus on rapport and information.
• Between calls — ask your manager for pricing, enter all data, generate scenarios, review badges, pick the best option, open the script, set filters, and save.
• During Call 2 — open the script, verify filters, follow it section by section, and use the Pitch Option dropdown if the borrower asks about alternatives.
• After the call — export a backup, save a PDF for the file, and share the Copy Link with the processor or manager if needed.

Resources for this module

Overview

Build the file, prep the forms, and send the package — the same way every time.

Once the borrower says yes on the pitch, you turn the scenario into a real, disclosable loan in Encompass and send the eDisclosure package out for e-signature. You still select the Consumer Connect dropdown when you order, but the package now goes out through Maverick. Every product — VA Cash-Out, VA IRRRL, FHA Full Doc, FHA Streamline — follows the same eight-step spine. Learn the spine, then layer on the handful of product-specific differences.

Lesson 1 of 9

The 8-step disclosure-prep spine

Whatever the product, you run these eight steps in order. The rest of this module walks each one.

Lesson 2 of 9

Step 1 — Initial setup: program & template

In Encompass, set the loan program and the closing-cost template to match the product. Getting the template right is critical — it loads the correct forms and fee defaults.

Lesson 3 of 9

Steps 2 & 3 — Loan data entry and core fields

Import liabilities & verify the property

Enter all information into the VA Questionnaire, import all liabilities, pull credit, and copy/verify the property address so it carries over correctly. Break the borrower's current payment into P&I, homeowner's insurance, and property taxes — and confirm that, once added together, the total equals what the homeowner actually pays on their mortgage statement.

Core loan fields

Lesson 4 of 9

Step 4 — Finishing the Questionnaire & the MI popup

Complete the bottom of the VA Questionnaire: the certifications ("I hereby certify that I HAVE NOT… / DO NOT…"), the property information (select "Copy from Current" and add the county), and the declarations. On an FHA file, skip the VA-specific section — it's FHA, not VA.

Lesson 5 of 9

Step 5 — Debt consolidation & the calculator

Check off the accounts the homeowner wants to pay off — you'll walk through this live with them — and the liabilities populate as you check the boxes. Use the debt consolidation tool to see how much debt (outside the mortgage) you're paying off and the monthly payments you're eliminating, then plug all of it into the calculator.

• Confirm the correct loan type in the calculator and that every figure matches Encompass
• For cash-out, capture the cash-out amount and the debts being paid off; for full-doc R&T, leave the cash-out section blank
• Attach the mortgage lien: select Subject Property, Primary Residence (you'll select it twice), property status "H," then Show Liens and confirm the mortgage is the only lien selected

Lesson 6 of 9

Step 6 — All the other form disclosures

Once the Questionnaire is done, work the remaining required docs on the left side of Encompass. Fill every blue box, set the signature/issue date to today, and on the 1003 add the county (part 4) and select "Refinance" for purpose of loan (line 20, item 3).

Lesson 7 of 9

Step 6 (VA only) — VA Management

VA loans require the VA Management form, worked across three tabs.

Basic Information

• Case number = 0
• Entitlement Amount = 36,000; Entitlement Code = 05
• Disability = the borrower's gross monthly disability amount
• Select "one or more borrowers qualifies as vet" (or "both" if both are veterans)
• Funding fee: exempt if disability is collected, not exempt if not

Qualification

• Loan number = 0; fill in the previous loan amount using the VA calculator
• Almost always Fixed; first payment is one month after the mortgage date; closing date ~30 days out from origination
• VA Loan Code = IRRRL or Cash-Out as applicable
• Recoupment: a 36-months-or-less recoup is required on VA IRRRLs (and on Type I Cash-Outs); it does not apply to a Type II Cash-Out — see the Cash-Out tab below

Cash-Out tab

Copy all directly over, select Fixed Rate, set the term (360 for a 30-year), check all that apply, and check "monthly residual income." Then pick the correct cash-out type:

Lesson 8 of 9

Steps 7 & 8 — Order title, then order docs

Order title & closing

Under Services, choose Order Title and Closing, pick the correct vendor, click Import Fees, and wait until it fully uploads before saving. Then, on the 2015 Itemization, add the 1100 and 1200 title fees together and feed that total back into the calculator's Title Services line. Set the origination fee per your manager's instruction. Remove pest inspection and appraisal fees where the product doesn't use them (e.g., streamlines).

Order the disclosures

Confirm everything above is correct and the file qualifies, then go to the E-Folder, use Ctrl+G to search for any missing docs, and click eDisclosures → Order. When the order dialog pops up, click Order again. You still select the Consumer Connect dropdown when ordering, but the package is now delivered to the borrower for e-signature through Maverick — click Send.

Lesson 9 of 9

Same spine, different products

The spine is identical; here's what changes by product.

FHA Streamline — the UFMIP refund

When a borrower recently took an FHA loan and paid the full upfront MIP, the FHA gives a partial refund of that premium, and that refund credit nets against the new UFMIP on the streamline — lowering the amount added to the new loan. The refund is prorated on a sliding scale that diminishes over time. Exact percentages vary by FHA case guidance, but the proration generally runs:

Resources for this module

Overview

Your branded mortgage app — set it up, then learn it by watching.

Maverick is our point-of-sale (POS) platform. You've already seen it in action — it's where disclosures land for the borrower to e-sign (Module 9). This module gets you set up, then walks you through Maverick the way it's best learned: a series of short walkthrough videos covering e-consent, disclosures, the borrower's view, the Argyle income link, and borrower tasks.

Lesson 1 of 6

Signing in for the first time

Maverick comes to you as a welcome email. To get in:

• Go to texana-pos.com and sign in with your work email, FIRST.LAST@texanabank.com
• Find the email from noreply@mtg-alerts.com for your temporary password (use "Forgot Password" if it's expired)
• Follow the prompts to set up 2FA

Lesson 2 of 6

Profile, landing page & your application link

Once in, go to My Profile → Website Settings. Upload a professional headshot — crop it square first so your face centers in the circle on your landing page — and choose a default or condensed landing-page layout.

Lesson 3 of 6

The mobile app & what it does

Maverick isn't just a desktop login — scan the QR code in your welcome email or download the app for your device. From your phone you get your mortgage calculator, your loan pipeline, document management, borrower chat, and access to Encompass Web. It's the same Maverick that delivers eDisclosures to the borrower (Module 9): they see a signing portal, you get a full mobile origination toolkit.

Lesson 4 of 6

The Maverick walkthrough videos

These eight short walkthroughs are the heart of this module — watch them in order. They cover e-consent, sending disclosures, the borrower's experience on mobile and desktop, the Argyle income/asset link, and borrower tasks. (Argyle is the tool that lets borrowers connect payroll and bank data automatically instead of digging up paystubs and statements.)

Lesson 5 of 6

Getting help

When you have questions as you get going, there are three places to look:

Lesson 6 of 6

Your setup & video checklist

Before you move on, confirm you've completed each step. Don't skip the headshot — borrowers see your landing page before they ever talk to you.

Resources for this module

Overview

The second call: present the numbers, handle objections, and close.

This is the call everything else has been building toward. You've gathered the borrower's vision (Module 4), structured the file and calculator (Modules 5–8), and prepped disclosures (Module 9). Now you present the scenario, walk the borrower through their savings, handle objections, and get them signed and uploading documents — all in one sitting. This module covers the psychology behind the pitch, the post-yes flow, the shared pitch architecture, a review of each product's pitch, the objection playbook, and running AUS.

Lesson 1 of 10

Pitch psychology — why we do what we do

The pitch call is a structured persuasion conversation, and the structure exists for good reasons. The core principles, carried over from the first call:

• Lower the borrower's guard. Borrowers come in cautious — they've likely never heard of Texana Bank. The bonding statement establishes credibility (a 100+ year-old bank, VA specialists) so they're willing to share financial information.
• Be a financial advisor, not a salesperson. Ask good questions about their goals, get them to picture what they want, and use that vision to frame the loan later.
• Involve every decision-maker. A spouse or family member left out of the conversation will often say no by default. Get everyone who weighs in on financial decisions on the call.
• Control the flow of the call. Go through income and property thoroughly. Borrowers who invest real time are more committed and far less likely to shop the deal around.
• Be calm and matter-of-fact about the SSN. When you ask for the social to run the soft pull, don't make it a big deal: "to proceed, the only thing I'll need is your social security number." If they hesitate, acknowledge it and offer your NMLS number.

Lesson 2 of 10

Setting up the pitch call

Before the pitch even starts, set it up to succeed.

• Full availability. You need ~45 minutes of the borrower's full attention — not while driving, working, or cooking. They need to be able to write down details, sign docs, and send documents.
• Reschedule artfully if needed. If they (or a key decision-maker) aren't fully available, reschedule as a favor to them: "I want to make sure you can devote your full attention — let me shift my schedule to accommodate."
• All decision-makers present. If an adult child or sibling helps with financial decisions, get them on the call so you can address concerns then and there.
• Bring energy. The borrower mirrors your energy — if you're excited, they get excited.
• Be confident in what you're presenting. Don't undercut your own deal ("I know the rate is high, but…"). Stay on the script and stay in charge of the conversation — let them know you'll take all questions at the end.
• Schedule the pitch ASAP. Borrower intent drops sharply after the first call. Don't let the rapport you built go to waste.

Lesson 3 of 10

The shared pitch architecture

Every product's second-call script follows the same backbone. The calculator auto-fills the numbers (Module 8); your job is to deliver them in this order.

Lesson 4 of 10

Pitch tasks & flow — what to do once they say yes

The moment the borrower says yes, momentum is everything. Run this sequence without letting them off the phone.

• Send the e-Consent Maverick invite, then send the eDisclosures through Maverick (have these prepped and ready before the pitch).
• Get the disclosures signed while they're on the phone. They'll get a Maverick email per signer, create a password (and confirm last-4 of SSN + a phone code), review and sign, then click Finish. Encompass auto-retrieves the signed disclosures. VA disclosures include a "nearest living relative" form — an emergency contact who does not live in the home.
• Get documents uploaded live. The longer you stay on the phone (2–4 hours is great), the more gets done.
• Never let them off the phone without at least their photo ID. A long list of documents overwhelms people and they back out. Knock out 2–3 live, one at a time, so only a few remain.
• Set a follow-up call for the remaining documents — it creates a deadline.
• Emphasize you cannot lock the rate until all docs are in. Create urgency: the deal isn't here forever; get docs in within 24 hours.
• Maverick auto-assigns the docs to the correct folders in the Encompass File Manager. If something comes in outside Maverick (for example, a White Glove Notary signing), you'll have to assign those documents to the right buckets yourself. Once everything is filed, the loan is ready for submission to processing.
• Clean up the auto-created Task buckets. Maverick auto-generates "Task" buckets for the borrower, and some are irrelevant to a given file. Go in and delete any that don't apply — and if you're not sure whether a task belongs, ask your manager to help you delete it.

Documents by product

Lesson 5 of 10

VA Cash-Out pitch review

The cash-out pitch leads with debt payoff and cash in pocket for $0 out of pocket. Distinctive sections:

• Opening: pay off debt, lower the monthly payment, get cash out for $0 out of pocket, improve credit utilization, lower rate/term — "and with your cooperation, close in as little as 3 weeks."
• Savings summary: add up every payment being eliminated, get the borrower to write that total down, then reveal the new PITI and the monthly savings. Where relevant, you can mention the mortgage-interest tax deduction — but always remind the borrower to consult their tax advisor to confirm.
• Loan details: base loan = LTV% of value; the 3.3% VA funding fee (or waived for disability) explains the "odd" total loan number, and the fee may be tax-deductible — again, have the borrower confirm with their tax advisor.
• Escrow refund: 1–2 months of current escrow refunded within 30 days of closing.
• Appraisal & card: rate isn't locked until the appraisal is ordered. Collect a card on file; per VA rules, disclose that the card is charged the appraisal fee only if the loan does not fund. Never discuss value with the appraiser — that's a federal violation.

Lesson 6 of 10

FHA Rate & Term pitch review

The FHA R&T pitch centers on payment reduction and a faster payoff. Distinctive sections:

• Opening: lower the monthly payment, lower the rate, pay off the home faster, improve their position.
• The 3-Year Plan appears here: for 3 years, keep the monthly savings in the bank; after year 3, apply it to principal to knock years off the term. It's optional and mitigates the "restarting the clock" objection.
• Loan details & MIP: the 1.75% FHA up-front MIP explains the total loan number and may be tax-deductible — remind the borrower to confirm with their tax advisor.
• Appraisal: FHA loans always require an appraisal — appraisal waivers apply only to Conventional loans, not FHA. So on an FHA R&T you'll order the appraisal, collect the card on file, and disclose that the card is charged only if the loan does not fund.

Lesson 7 of 10

FHA Streamline pitch review

The streamline pitch is the "free loan" — no appraisal, very few documents, zero out-of-pocket. Distinctive sections:

• Opening: drop the rate by more than half a percent, lower the payment, defer one payment, refund the escrow — done in 3 weeks or less.
• Loan details: base loan = exactly what they owe now; the net new UFMIP is small because of the UFMIP refund from their recent FHA loan (Module 9). No lender, processing, underwriting fees, or discount points — just third-party title and per-diem interest.

Lesson 8 of 10

VA IRRRL pitch review

The IRRRL pitch is the leanest — lead with the rate drop and lifetime interest savings. Distinctive sections:

• Opening: drop the current rate to the new rate, state the monthly P&I savings and the new PITI, and the lifetime interest savings.
• Funding fee: 0.5% for the IRRRL program (waived for disability), rolled into the loan.
• Escrow refund and a shorter-term benefit if the term is being reduced.
• Rate-lock urgency: the rate is live now but the bond market is volatile — sign initial disclosures in Maverick now to lock it.
• Final docs: just photo ID, mortgage statement, and homeowners insurance. Do not ask for the SSN here — credit was already pulled in Call 1.

Lesson 9 of 10

Common objections & rebuttals

Never improvise on objections. Use the 4-step framework: Acknowledge → Clarify → Respond → Re-close. The most common objections and the technique behind each rebuttal:

Lesson 10 of 10

Running AUS (DU/LP)

AUS — Automated Underwriting System — quickly assesses a file's credit risk against agency guidelines and, on Conventional loans, can return an appraisal waiver (waivers do not apply to FHA or VA). From the Services tab in Encompass, choose Request Underwriting.

Resources for this module

Overview

Hand the file off cleanly and order what the VA needs, in the right order.

This is the last stretch. The borrower is signed, the documents are coming in, and now you complete the Origination milestone, send the Sub email that kicks off lock and processing, introduce your processor, and place the VA-specific orders — the COE, the appraisal, and (later) the termite and water tests. Timing matters here: each order happens at a specific point in the file's life, and getting the sequence right keeps the loan moving.

Lesson 1 of 7

Completing the Origination milestone

Once your documents are in, finish the file in Encompass so it's ready for review.

• (Only if not using Maverick) Open the E-Folder → File Manager and drag the supporting docs into the top-left intake (you can't drag straight from Outlook — save them to your computer first, then move them).
• File each document into the right bucket in the bottom-left — many buckets you add yourself with the green-plus page (e.g., Income – Social Security Award Letter, Mortgage Loan Statement).
• Exit the File Manager and E-Folder, then click Log → Origination. Any missing required fields appear here — fill them out.
• Make sure any Letters of Explanation are in the Letter of Explanation – General bucket. File review starts with your Sales Manager; once they sign off, it goes to a Check-In with the Processing Manager.
• Once you get the OK, set yourself as the second loan officer, assign your processor (the magnifying-glass icons), and assign the branch manager under Tools → File Contacts.
• Back on the Origination tab, check the Finished box, then save and exit.

Lesson 2 of 7

The Sub email — rules

The Sub email is how you submit the loan. It goes to valoansetup@texanabank.com, which reaches lock desk, processing, loan opening, and sales management — all of whom take action based on exactly what you put in it, so accuracy is everything.

Subject line

Always include the word SUB, the borrower's last name, the loan number, and the product type — e.g., SUB JAMES 2109372787 VA CASHOUT.

Body — include all of it

Lesson 3 of 7

The handoff to your processor

Once the loan is in processing, send the borrower a warm introduction email and set up a quick three-way call with your processor. You remain the borrower's main point of contact and advocate — the processor is there to help gather and review outstanding documentation and conditions.

Lesson 4 of 7

VA orders — the right sequence

On VA loans you place several orders, and each happens at a specific point in the file's life. Getting the timing right is half the job.

Lesson 5 of 7

Ordering the COE & the VA appraisal

Both are done through the VA portal (WebLGY at lgy.va.gov), signing in with your team's VA credentials — ask your manager for the login.

COE — at the start

• In WebLGY, choose Request COE if you haven't already.
• Enter the veteran's SSN and year of birth, check "surviving spouse" if applicable, and Submit.
• Click View COE, download it, and save it to file in Encompass.

Appraisal — at submission to processing

• From the same screen, click Request Appraisal, select LAPP, and enter the SSN and YOB of all parties.
• Fill out the Request for Single Property Approval — your phone and email plus valoansetup@texanabank.com, the loan number as the case number, refinance details, occupancy, and property info.
• Accept responsibility and submit, then open View Printable 1805, save it as a PDF, and file it in the Unassigned E-Folder in Encompass.
• On the final step, hit Do Not Accept — at that point, when you send the Sub email, you can label the appraisal as "Ordered."

Lesson 6 of 7

Ordering termite & water tests

These come later — when the processor sends conditions, or once you've confirmed the property is on a well rather than public water. When that happens, it's your job to order and collect the tests. The workflow is the same for both: get the borrower's availability and details, find local providers by searching the property's town/zip, and call around.

What to confirm on the call

• Have the borrower's name, address, phone, and availability ready to give the provider.
• Ask turnaround time — if it's too long, move on to the next provider.
• Ask the cost and whether they require payment up front — if they do, move on. We prefer to pay through the loan after we get the results and invoice. For a rush order, ask your manager about payment beforehand.
• Give them your email for the results and invoice.

Lesson 7 of 7

White Glove Notary — the last resort

If e-signing truly isn't going to happen, order the signing through the White Glove vendor (Simple Signings), logging in with your team's credentials — ask your manager for access.

• Click Schedule Order, select the client account, and submit.
• Fill out the new service form: File Number = the Encompass loan number; Signing Type = Loan Application Scan Only; set the date/time; Scan Back Required = Yes, RON = No; complete all borrower/property info and add yourself as the LO; skip the e-signing section; and list every document to be signed under Special Instructions.
• In Encompass Disclosure Tracking → Disclosure History, open the disclosure packet, save the DSCO, then upload the DSCO back in White Glove and click Complete — the closing package turns green.
• Save and print the DSCO, and stay available to the notary at appointment time.
• When scan-backs arrive, download them, save as a PDF, and file in the Encompass E-Folder — click the envelope, choose your PDF, then Auto-Assign. Manually drop any documents that don't auto-assign (this is the manual filing case from Module 11).

Resources for this module