While its not unusual for net branch companies to provide training for their employees, one of the nation's biggest net branch operations has started offering mortgage education to brokers that are not part of the company.
Allied Home Mortgage Capital Corp. announced it will now provide training for FHA, Rural Development, and Reverse Mortgages to all brokers and loan officers in the residential-lending market. The instruction, which it says is economically priced, reportedly satisfies mortgage brokers' needs for continuing education credits on various topics and products available to prospective borrowers.
"As a leader in the mortgage business, we take great pride in providing top-notch training to our branch offices and employees across the country," Allied's President Jim Hodge said in a written statement. "Knowing how good it is, we felt we should share our resources with the rest of the industry."
The Texas-based company, which consists of nearly 700 branches, recently told MortgageDaily.com that it currently provides four-day courses to its branch managers -- more time than most net branches offer their recruits. Allied said heavy regulation on the federal and state level pushes it to focus heavily on compliance. In addition to the initial training for managers, Allied performs regional training for branch employees.
"The old Texas saying about a rising tide lifting all boats is true," Hodge added. "Our education and training of mortgage brokers from any and all companies in the business benefits them professionally, but most importantly, it provides better service to our customers -- America's future home owners."
Allied said it recently gave three-day sessions on the subjects to loan officers and brokers in Pennsylvania and Ohio. The classes have reportedly received great reviews from attendees with comments such as: "Very interesting course and well explained, anyone could understand!" "Best training I've ever been to," and "Put us on your mailing list for all future meetings."
The next dates and locations are tentatively set for mid-January in Florida and Georgia, in which topics may include Origination and Processing 101, Understanding Credit and Credit Scores, VA Origination Basics, and Compliance, the Allied reported.