Personal Property Financing – Increase Your Sales by Understanding the Lending Process
Registration fee for this course – $59
Sales people will sell more homes if they can effectively guide their customers through the lending process. This new online course from MHEI will help manufactured home retail sales professionals understand the complexities of manufactured home personal property finance. The course highlights the many factors that influence lending decisions that must be made at the retail sales center and by the lender.
The online education experience includes audio of the online course content, visual images to illustrate information, links to resources and documents that can assist the retail sales professional and their customers, and review quizzes to test learning. A final exam is taken at the end of the course and a certificate is awarded to those that successfully complete the course.
The course covers the following information:
1. The importance of qualifying customers and methods for determining the customer’s financial circumstances.
2. The most common types of loan fraud and misrepresentation and the consequences of participating in such acts.
3. Understanding credit bureaus, the information they collect, and what affects credit scoring.
4. The consumer protections under the Fair Credit Reporting Act.
5. The importance of completing legible, accurate and complete credit applications.
6. The retail sales center’s legal obligation to safeguard the personal information collected from its customers.
7. Ordering the funding package and clearing credit stipulations.