Loan Officer Mortgage School: Explaining Basis Points and Interest Rates

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D.O. breaks down essential mortgage math concepts with his signature straightforward teaching style. Drawing from his own experience as someone who "personally sucks at math," D.O. demonstrates how the mortgage industry itself taught him everything he needed to know about economics and personal finance.

The session begins with a practical exploration of basis points, where D.O. uses real-world scenarios to demystify this crucial industry concept. With characteristic humor, he shares regional differences in terminology (warning against using "beeps" instead of "bips") while making complex mathematical concepts accessible through clear examples and interactive calculations.

Throughout the training, D.O. weaves in practical applications that loan officers face daily, from calculating commission structures to breaking down rate quotes from major lenders like Rocket Mortgage. His approach emphasizes real-world application over theoretical knowledge, showing how these calculations directly impact client conversations and competitive positioning in the market.

The discussion includes valuable insights into how to use this knowledge when speaking with clients, including specific strategies for explaining rate differences and fees. D.O.'s practical approach extends to teaching participants how to back-calculate purchase prices from loan amounts and loan-to-value ratios, providing tools that can be immediately implemented in daily business operations.

Particularly valuable is D.O.'s emphasis on using data to support conversations with clients, including how to leverage competitor information effectively while maintaining professionalism. The session concludes with strategic insights into differentiation in the marketplace, focusing on service quality over rate competition.



00:00 Introduction to Mortgage Math
02:15 Understanding Basis Points
04:30 Rate Quote Breakdowns
06:45 Loan Amount vs Purchase Price
08:30 Working with Disclosures
10:15 Competitive Positioning