Mortgage Basics
What does MLA stand for?
Mortgage Loan Assistant
Who is the president of Ryan Homes?
Gene Bredow
What's one thing you've learned about mortgages so far?
open ended- any answer is correct
List 3 of the 4 Big Rocks?
Employee Experience, Customer Experience, Profitable Capture and/or Risk Managment
NVR builds homes in 36 metro areas in 16 states. List the 16 states
FL GA TN SC NC KY IL IN OH WV VA MD PA NY NJ DE
What is a typical length of a fixed-rate mortgage?
30 years
Who is the president of NVR Mortgage
Brad Carter
Create a mortgage themed acronym for "HOME"
Helping Others Manage Equity (they can work as a team to come up with their own)
List 3 items found on the House Stack and what they represent
Welcome Mat= Greeting, House= House, People/Animals= family, Airplane= travel, Business woman= job, Tennis pro= hobbies, sun
What does PMI stand for, and when is it required?
Private Mortgage Insurance; required when downpayment is less than 20%
In what year was NVR Mortgage founded?
1989
What's one myth about mortgages that surprised you?
any answer is correct
Name 3 NVRM Corporate Departments
Learning and Development, Shipping, DD, CLC, QC, Product ,Underwriting, Secondary Marketing, NVRSS, Helpdesk, Servicing
What are the four basic loan programs?
Conv FHA VA and USDA
Where does the name NVR Mortgage come from?
NV Homes and Ryan Homes
What is one NVR core value?
Integrity, Commitment, Do the right thing, - multiple answers accepted.
What's one thing you've learned about mortgages so far?
open ended answer
What is the name of the form that breaks down the FINAL mortgage terms and costs?
Closing Disclosure
What department processes loan documents before closing?
Operations or Processing (both answers accepted)
Pitch NVR Mortgage to a friend in 30 seconds
both teams go and best pitch wins!
List the 4 steps in the Relationship Sales Process
Project Manager, Sales and Marketing Rep, Loan Officer