Previous Training and Experience. Mortgage Broker shall submit to Lender, for consideration of sponsorship approval, a Letter of Explanation (“XXX”) certifying and detailing Mortgage Broker’s FHA experience, along with supporting documentation. Such XXX shall include a restatement of current Net Worth, any training certificates from FHA course(s) and/or evidence of FHA loan approvals from other wholesale lenders. To originate Home Equity Conversion Mortgages (“HECM” Loans), Mortgage Broker must be approved for such originations and enter into the agreement with ReverseVision as set forth in Addendum G(R).
Previous Training and Experience. Applicants for the position of Mechanic may be given credit on the base hourly rate schedule based on verified previous training and/or experience.
