Mortgage Loan Application Assessment Term Paper
For this final paper, you are a mortgage broker (lender) and you have met with a prospective borrower who wants to purchase a house. You are going to write a report to the mortgage banker (client) proving that your borrowers are qualified for a loan. Given their scenario, you are also going to recommend the best possible loan program for your buyers. The mortgage banker is an important client who is considering hiring you to work at their company if they like your assessment.
For this hands-on project, you will be assigned a fictitious borrower and their financial figures. Then you will calculate their loan scenario, research various loan programs, and recommend a loan for this borrower. Most importantly, you will complete an actual 1003 Loan Application form and submit it with your final paper. Your assessment will be based on the textbook chapters. This report will also include your professional qualifications. Note your personal information will be accurate, but your company name and information can be fictitious (go ahead and dream about owning a large, successful mortgage lending company!).
You will be re-using your work completed during the class; more specifically, your Activity assignments and the Reflection Summary discussions you have written. You will add citations from the book to paragraphs.These assignments will be incorporated into your final paper. Don’t worry, this is not self-plagiarism. These activities are specifically designed to be used for the final paper. Rather than having to complete a comprehensive paper on the last week of class, we are working on it a few paragraphs at a time. That is called scaffolding and it’s a technique that helps you learn the course material in progressive steps.Attached. previous assignments and 1003application you. must use and cite the text book Real Estate Finance 8th Edition by Walt Hubert and Walt Zozula, 2018. ISBN: 978-1626841789.Please no plagiarism no A I no chat. bots. please original work.
Lastly, to complete this final paper you will need Microsoft® Word® and a PDF app that allows you to edit documents, such as Adobe Reader. The 1003 Loan Application you will complete is a PDF form that you will need to edit by adding the borrower’s information. NOTE: You MUST use the template linked at the bottom of this assignment. Be sure to remove each of the arrows < and > when you insert your content.
Topic:
Mortgage Loan Application Assessment
Length:
15 paragraphs (minimum). Each paragraph must be at least 5 sentences.
Citations:
The class textbook (Huber) and the source for a sample property. Other citations may also be included, but all citations must be referenced. Each paragraph in the body of the report should have a citation. Approximately half of the citations should be direct quotes, and the other half should be paraphrased. View APA format: https://owl.purdue.edu/owl/research_and_citation/apa_style/apa_formatting_and_style_guide/general_format.htmlLinks to an external site.
References:
All citations must be referenced on the last page. View APA format: https://owl.purdue.edu/owl/research_and_citation/apa_style/apa_formatting_and_style_guide/reference_list_basic_rules.htmlLinks to an external site.
Appendix:
Required.
Format:
APA format is required.
APA resource from Purdue OWL: https://owl.purdue.edu/owl/research_and_citation/apa_style/apa_style_introduction.htmlLinks to an external site.
Headings:
Please use headings and sub-headings as appropriate. APA format headings: https://owl.purdue.edu/owl/research_and_citation/apa_style/apa_formatting_and_style_guide/apa_headings_and_seriation.htmlLinks to an external site.
Exception:
APA style requires third person voice. However, for this report you may write in first person voice. Please use the pronoun we rather than I when representing your company.
Grammar and spelling are critical.
Use spell-check, Grammarly, read your paper out loud, take it to the writing center for review, and have a friend proof it for you. Eliminate all errors. Yes, its THAT important!
Academic Integrity:
You must write and type your own report in your own words. Any plagiarism or cheating will cost you a 0 on this important paper, and may also result in an F or this course or suspension from the college.
Recycling:
For this paper, recycling of your own work is acceptable. You may re-use your own written content from your Activities and Reflection Summary discussions which you previously submitted in this class. No citations are necessary.
SECTIONS:
Title Page
Introduction (1 paragraph) – no citations
Qualifications (2 paragraphs)
YOUR Education; experience; future licensing
Financing Scenario (2 paragraphs) each paragraph must include a textbook citation
Facts about the borrowers loan scenario and financing calculationsLinks to an external site.
Borrower Qualifications (2 paragraphs) each paragraph must include a textbook citation
Borrowers loan qualifications and criteria
Loan Application each paragraph must include a citation from the textbook
1 paragraph summarizing your completed loan application form
1003 Loan Application Form – 2 paragraphs explaining the completed loan application
Loan Processing – 2 paragraphs outlining various steps involved loan processing
Recommended Loan Program each paragraph must include a citation from the textbook
Overview paragraph with your recommendations; compare & contrast of loan programs
Conventional Financing: 2 paragraphs describing conventional loan financing methods
FHA Government Loan: 1 paragraph describing the FHA government loan program approaches
Conclusion (no citations)
Bibliography (reference page)
Appendix: insert your completed 1003 loan application. Take a screen shot of each of the 4 pages of the 1003 and insert each page in chronological order.
TIP: to copy the 4 pages from the 1003 form, “snip” a copy of each page by clicking the following 3 keys: Shift + Windows + S. Then, click and drag your mouse to select the page. Paste into the appendix one by one. Note: for a mac/apple computer, use Shift + Apple key + S.>
