Career Options as a Mortgage Loan Professional

There are hundreds of career options in the mortgage financing industry. If you’re interested in starting a home mortgage business or working in the mortgage industry, keep reading for an introduction on how to become a mortgage professional and areas of the mortgage banking process that need people.

Because the mortgage lending industry makes, sells and then services so many mortgages, ranging from business real estate to residential, the market is busy, complex and very interrelated. However, that intricate network also means there a number of job opportunities available in each different sector.


Originations is where a mortgage becomes a mortgage. The sales team of the mortgage industry consist of the loan officers and mortgage brokers. Loan officers work for a particular lending institution while mortgage brokers act as agents for a variety of mortgage lenders and work to match the borrower with the right lender and loan.


This section of the mortgage process is where the applicant’s documents are collected and verified, including the appraisal, income records, credit history and more.


An underwriter evaluates the loan documentation and makes the final decision to approve or deny the loan. During this evaluation, the underwriter uses a formula to analyze the loan to see if it represents an acceptable risk and also if the loan meets the requirements necessary to sell that loan on the open market.


The closer, often the same person as the originator, completes the loan process by delivering the deed, signing the note and disbursing the funds.


Warehousing is how most mortgage bankers actually fund their loans at closing time. Typically, a mortgage banker will borrow funds short-term from a warehouse bank and use their other permanent mortgage loans as collateral. Then, the loans are sold to a secondary investor and the original mortgage banker can repay the first loan.

Secondary Marketing

Secondary mortgage marketing is the sale of closed home mortgage loans to secondary investors. Someone working in secondary mortgage marketing will develop and price various loan programs, manage the risk associated with funding mortgages, and then actually sell the loan packages.

Loan Administration

The last, but not least, field of mortgage services is loan administration. This includes providing ongoing customer service, collecting and recording monthly payments, and also remitting those payments to secondary investors.

Dudhwa National Park – A Treat for Nature Enthusiasts

Residing in the Lakhimpur and Kheri districts in Uttar Pradesh, the Dudhwa National Park is home to a large number of threatened animal species such as the Rhino and the tiger. This tiger reserve houses two beautiful sanctuaries – the Kishanpur and Katerniaghat Wildlife sanctuaries, where you can spot a large number of birds and animal species. Dudhwa is a magnificent wildlife park which offers its visitors excellent views of its lush greenery and beautiful terrains.

Dudhwa is one of the richest bio-reserves in India; the adjacent Indo-Gangetic plains are credited for the flourishing fauna and flora in this region. This wildlife Park spreads over a vast grassland and dense forest. Over 16 species of reptiles, 38 species of mammals and several species of birds are protected here.

Popular Activities in Dudhwa National Park
• Safaris – The Park offers Safari services for visitors, but you can also explore the place on your own by hiring a jeep or a mini bus.
• Jumbo rides – Elephant rides are a popular attraction at the park; the mahouts will be your tour guide, and they will give you a tour of the park on the majestic animal.
• Tharu Village Visit – Tharu is a small tribal community residing inside the Park. Meeting the tribal village is a great opportunity for outsiders to learn about a unique ethnicity and rich culture.

Best time to visit Dudhwa National Park
December to April is the perfect time to visit the park. Since Northern part of India follows the extreme climate pattern, the summers are going to be boiling, and the winters will be freezing. The park stays open from 15th November-15th June.

How to reach?
• Flight – Lucknow is the closest airport to the Park. You can hop on a taxi from the airport to get to the Park.
• Road – Dudhwa has an excellent road connection most of the major cities and States. There are plenty of State-owned as well as private bus services from neighbouring cities like Bareilly, Delhi, Lakhimpur, Kheri, and Shahjahanpur.
• Train – The nearest railway station to the park is nearly four km away. Other railway stations include Palia which is ten km away and Mailani which is 37kms away from the park.

Where to stay?
Accommodation is not an issue in Dudhwa because visitors have plenty of Dudhwa forest resorts to choose from. Apart from the resorts, you can also find forest lodges, dormitory or forest huts to stay. The Dudhwa forest resorts ensure luxurious comfort so that visitors can experience nature with ease. Camping in Dudhwa National Park is a haven for nature-lovers. If you love wildlife, then you will love the Dudhwa National Park.

7 Things to Know Before Visiting Cusco Peru Tours

Cusco is one of the tourist destinations that many Peruvians choose when to pack up and travel, but there is great uncertainty about whether the budget will reach to know one of the places that houses one of the seven modern wonders like Machu Picchu.

If you are visiting Machu Picchu, in Cusco, for the first time, you will experience some knew things and here are some tips that will improve your whole adventure in strange situations.

Choose the time: You must note that from April to October is the dry season with the cloudless sky. Since November, the clouds and rains that reach their peak in December through March.

Meeting hours: The Cusco Peru tourslasts a whole day. We will move out quickly as we can, to seize the day and avoid the crowds. Another thing you can do is go out in the evening and sleep in AguesClient’s, from there to Machu Picchu the next day morning. You can change Aguesclients’ to Ollantaytambo if you like.

Trekking: Some might want to get walking, but it is not an easy task. You can choose the Inca Trail, Salkantay Trekking to Machu Picchu and Coffee Route. Always accompanied by excellent guides and book your space with several months in advance.

Clothing and accessories: It is advisable to take only what is necessary. Water, a jacket for warmth, sunscreen, hat, insect repellent, and camera. Always have a rain jacket and windbreaker. Machu Picchu is jungle and warm, but the weather changes in minutes, and can rain, cloud and spend a little cold.

Lunch and drinks: It is advisable to get the food in the village of aguesclients before climbing to Machu Picchu. You can also bring your little taper.

You must ask the locals where they eat them, do not go where tourists eat or nearby restaurants to tourist sites, these are commercial, expensive and bad. Explore the markets, eat llama, and enjoy the best experience in a country as lovely as Peru.

About the currency

The currency used in the country is the Peruvian Nuevo Sol (three suns roughly equivalent to one dollar). There are many places where you can change money, for example switched smoothly on the same bus terminal in Tacna. It goes without saying that always look established places to spare potential problems.


You will not need any special vaccinations to enter the country. But keep in mind that if you visit Amazon regions, the Ministry of Health of Peru recommended the yellow fever vaccine. For example, if you go to the city of Iquitos, in full jungle Peru, it is better as a preventive measure you perform the vaccine.

Bankruptcy With Student Loans

Bankruptcy with student loans

Students who keep on borrowing indiscreetly for funding their education may realize too late that they are carrying a huge burden by way of accumulated student debts when the time comes for repayments. When the borrowers reach the point that they are no longer able to keep up with their commitments for payments, one of the avenues they may contemplate taking to get over the problem is to file for bankruptcy. But how viable is this?

1.Difficulties in proving Bankruptcy

Federal Loans are not dischargeable through bankruptcy.
If you are having a government sponsored loan or one issued by a non-profit making institution, then such a loan cannot be discharged by filing for bankruptcy and you will still have to pay back the loan in full even if you manage to get some other types of loans discharged.

Borrower has to prove that payments will impose “undue hardship” on him and his dependents.
Since October 1994, when some important changes were made to the Bankruptcy Law, it has become almost a futile effort to satisfy the requirements to get your loan discharged in this manner.

With regard to non-governmental loans too, the borrower will have to prove that repayment of the loan will create an undue hardship on him and his family in that he may not be able to maintain even a minimal standard of living if he were to pay the loan. It will also have to be demonstrated that an effort has been made to honor the payments; but that this level of hardship is now permanent and is not likely to improve substantially with time. But this will be a very difficult point to prove.

(The above criteria are based on the classic Brunner vs. New York State Higher Education Corp judgment of October 14, 1987 which is now commonly adopted in court cases in defining “Undue hardship” on the borrower in continuing to make repayments).

Only 10% of the borrower’s take home pay can be garnished to pay a student loan.
However, it may be some relief to learn that federal regulations restrict to only 10% of the student’s take home pay that may be garnished to repay a loan. 59 Fed. Reg. 22473.

2. Alternatives to an attempt at filing for Bankruptcy.

Don’t be afraid to have a frank discussion with your lender before approaching others pertaining to your problems on repayments. He may have had similar experiences with other borrowers and since he is also keen on recovering his money without the additional burdens of going to litigation, he will also try his best to work out some alternate arrangement to ease your burden while recovering his money too.

It is in your interest to try and work out some alternate arrangement before you go in to default of your loan, because once you are in default, the options available to you to normalize the situation would diminish.

After failing to compromise with your lender, there are various agencies you can go to that offer assistance on consolidation and / or in working out suitable alternate arrangements including rescheduled programs of repayments in keeping with your income / ability to pay.

3.Some of the other more common grounds on which Bankruptcy Claims may be made with more chances of success.

oSchool Closed

You may qualify to have your loan discharged by bankruptcy if you could not complete your study program under one of the following conditions:

1. The school closed while you were enrolled.

2. If you were on an approved leave of absence when the school closed.

3. The school closed within 90 days of your withdrawing from the school.

4 Disability

1. Your student loan can be forgiven and discharged in the event of your becoming totally and permanently disabled and if you discharge your other commitments during a 3-year conditional discharge period. Although your disability may be accepted for certain other purposes to the extent of your receiving your Social Security, VA or other Disability Benefits, you may still fail to meet the definition of total and permanent disability for purposes of student loans.

2. However, you will not qualify for discharge if you were already disabled and in that same condition at the time you applied for the loan.

3. Further, a parent who has obtained a PLUS Loan on behalf of a student who becomes totally and permanently disabled is not qualified to claim discharge of loan taken by him (the parent).

o Death

1. A loan will be fully discharged if the borrower dies.

2. In the case of a PLUS loan, the loan is fully discharged in the event of the death of the borrower (whether it is the student or parent).

3. On the death of a student on whose behalf a parent has taken a PLUS loan, that loan taken by the parent will be fully discharged.

o How does bankruptcy affect a student’s eligibility to qualify for future loans?

1.Since the Bankruptcy Reform Act enacted in October 1994, a student need not re-affirm a previous FFELP loan discharged through bankruptcy in order to be eligible to receive a new loan.

2.Financial Aid Administrators cannot deny any fresh loan under Title IV Grant Aid including the Perkins Loan Program to any prospective student borrower on the grounds of a previous bankruptcy filed by him (the student) on the bankruptcy determination. They may nevertheless, continue to consider his post bankruptcy credit history in determining willingness to repay the loan.

3.A rule of thumb here is that the student is eligible to receive additional student federal loans provided there are no disputes or defaults in respect of loans currently in repayment. Any previous loans discharged by bankruptcy should no longer be considered as in default for current purposes.

4.However, many bankruptcies could have an impact on eligibility for most private loan programs including some school loan programs which contain built-in provisions precluding borrowers with 7 – 10 year history in bankruptcy from borrowing again without a creditworthy cosigner. In such cases the borrower is advised to have a frank discussion with the lender, explain matters (especially if there were any extraordinary circumstances surrounding the said bankruptcy), and try to re-negotiate.

5.All matters and the law connected with bankruptcy pertaining to student loans are too numerous to explain here in detail and are beyond the scope of this article. In such rare cases where further information may be required, the student is recommended to seek the advice of your school loan administrator, your lender or any other lender/s of repute, and websites of relevant authorities that an Internet search could easily reveal.

Essential Money-Saving Travel Tips for Beginners

Any plans of taking a break after a few months of stressful work? Then, travelling out of town might be a good idea. To ensure that the hard-earned money will go far, here are some of the budget travel tips to keep in mind:

• Call the hotel first before booking it through the Internet. Though it’s convenient to make travel arrangements online, it doesn’t guarantee to give travellers the best possible deals. It’s recommended to call the hotel depending on the expected time of arrival and speak with a supervisor or manager on duty.

Ask if they can offer an affordable package during the stay. Normally, some hotels would give discounts to travellers who prefer rooms that aren’t as coveted as the others. And for those who are celebrating their birthdays or anniversaries, some hotels offer complimentary upgrades for a night.

• Compare prices of airline tickets. People will prefer to purchase tickets online than over the phone because it’s more convenient. However, it’s essential to make a comparison first by calling the airline and check if the ticket price is similar to what is displayed on the Internet. When purchasing tickets, it’s also recommended to consider the extra fees. Once all of this has been made, go for the one that offers a lower rate.

• Book everything alone. Third parties such as travel agents and booking websites offering services to arrange everything seldom work for free. Normally, there’s an equivalent fee that will go to them. Travellers will save more money by booking each and every element separately through contacting their preferred hotel and airline. By doing so, they will also have the option to contact other choices for price comparison.

• Ask for repositioning cruises or flights. Airlines and cruise lines usually reposition their trips from time to time. it’s cheaper than the traditional trips but also offers similar services to customers. One thing to note though, travel time for repositioned trips may take longer than the usual.

• Avoid travelling during peak seasons. As the number of tourists goes up, the travel cost also does. Though visiting a certain country during Christmas time is a perfect idea, travellers can save hundreds of dollars on flights and hotel accommodations if they can wait to visit once the season is over.

• Share a room with a friend. Stay at the hotel is another essential thing to consider on budget when travelling. There are hotels where room rates for a single person is also the same as the cost of rooms for two persons. Instead taking separate rooms for this situation, why not get a room for two? Aside from the saved money, this will also be a good time to spend bonding moments with a friend while on vacation. Forget about the loud snoring during bedtime though.

• Travel like the locals. As tourists, riding glitzy air-conditioned buses with movies on-board is a convenient option but often comes with a hefty price. Doing this might take away the money that should be spent on exploring other places around the area.

Travelling should not be expensive. All it takes is just the right preparation, timing and budgeting. By keeping all these budget travel tips in mind, everyone can have a wonderful vacation without shedding out too much money from their pockets.

How to Get Your Student Loan Dismissed

If you have many student loans to eventually pay, and you are skilled in a particular field, then your loans could be dismissed by the government and won’t have to be paid off. These particular fields change annually, and are usually selected according to the supply and demand of professionals in that field.

For example, special education teachers are exempt from paying their loans if they are employed in that field for at least a year. Another good example is the nursing field. There is a very large demand for nurses these days, many more than the supply could fill.

For that matter, many different types of teachers could qualify for dismissal of their loans. Also orderlies and nurse assistants. The health care industry is in high demand for experts in many different fields.

To apply for getting a student loan dismissed, the applicant can get a form from their loan administrator. The loan office will also need proof from the college and/or workplace that they indeed are pursuing the particular field.

So if you are working and still in school, you could be eligible to pay off all your loans, subsidized or not. You need to check with your loan officers first however.

Loan providers have lists of jobs that are in demand where loans can be paid off by the government. Those jobs such as special education teachers and nurses are of great value to the government, so they are quite willing to pay for their education.

If you feel you may be eligible for release of your loan obligations, please contact your loan office right away. It costs nothing to check, and could be worth thousands towards your education.

Students Call For Better Loan Administration

Welsh students, represented by the National Union of Students in Wales, believe that they have overpaid loan repayments due to the pay-as-you-earn system in place to collect the debt. In some cases they have even started paying them back before they earn enough.

Ben Gray, president of the Welsh NUS, in a BBC interview said: “What we are seeing is a catalogue to bad administration.”

The government claims £600m a year from tuition fees that were originally introduced in 1998 but this has been subject to much amendment in the past 10 years. Students feel that having to pay loans directly to the Student Loans Company discourages people to take out private loans that are harder to arrange.

The Student Loans company claims however, that the reason for the lack of competition in the student loans market in the UK is due to the highly favourable rates of interests offered to students. They also do not have to pay their loans unless the earn over £15,000 per annum.

The United States has a vibrant student loan market, traditionally offering highly competitive rates to woo customers. However as in any open market, these conditions are open to change and with the credit crunch lenders are pulling out of the market altogether. The US government is also less keen to subsidise loans if lenders are at a risk of going bust. This removes the safety net on repayments for students while they study.

To improve its service the Student Loans Company in Britain has already pledged to introduce an online payment account to clear up any confusion over what is owed by students.