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| Type X New Roman. 12 Point This is will be a proposal for an internship in a Mortgage Bankers Office. Their daily activities at the office include loan origination, loan processing, meeting with clients, and maintaining an office. (all clerical duties) The internship requires 30 hours of work on Saturdays. During those 30 hours I have to design and facilitate a project that will serve their organizational settings. I think one of the things I would propose is to create a more efficient way on how to process a loan for customers who come to the Mortgage Bankers Office. My BA will be on Public Administration. That way I can offer the relevance of my graduate studies to my internship. The courses that you will need to mention in the proposal include Policy implementation, Communication and Technology, Public and Personnel Administration, Policy Analysis, Political Science. I have to offer two or three goals for my internship, so I need you to provide them.Also, give some details about how I expect those goals to be accomplished. …………………………………… The following are the instructor’s guidelines Proposal Details: In a 3 page typed paper, please complete the following: 1. Your name and contact information 2. Your supervisor’s name and contact information 3. Your employer’s/company’s name and department, if any. 4. Please explain the nature of the project you will undertake at the Mortgage Bankers Office during your internship in a few paragraphs. Be as specific as possible. You will need to explain a timeline of events to be completed, or steps in the process, justifying your 30 hours here. Their daily activities at the office include loan origination, loan processing, meeting with clients, and maintaining an office. (all clerical duties). Additionally, you will need to offer an explanation as to how this is beneficial to the organization. Make sure that I understand what your finished project will look like or what the ultimate outcome is. (The specific detail about the project is that I will propose the creation of a more efficient way of processing loans for customers who come to the Mortgage Bankers Office. 5. At the bottom of your proposal, please sign and date with your name. Also, have your sponsor sign and date. |
Answer
Internship Proposal in Mortgage Banking
One of the biggest lessons I have as a graduate of a BA in Public Administration is the importance of being able to offer value more than I expect to receive. In this internship proposal, I will focus on the services and contributions that I will offer as part of the team in this dynamic mortgage banking sector. My education has concentrated on areas of the organization, planning, communication, budgeting, management, and team leadership. So, I am in a fitting position to apply my skills to the achievement of the company’s and industry’s goals such as policy analysis and implementation, communication, technology, public, and personnel administration. In addition to these major areas, my daily routine will ensure participation in tasks of loan originating, loan processing, coordination with applicants, and office maintenance.
As an intern committed to value addition as previously mentioned, I hope to propose the creation of a more efficient system of processing loans of clients for the mortgage banking office. The sensitivity of the mortgage loan functions is a topic I am well conversant with due to reading and references on its direct relation to the 2008 economic crisis (Hardiman, 2015). This project will outline the technology and management process needed during loan processing with a goal of efficiency, transparency and complete automation of the system.
With the main goal set and determined, all these strategies and goals will be implemented at all the levels and stages of loan processing. The first stage is the pre-qualification process which includes gathering of information of the applicant’s financial information. This includes income and other debt statements (Kaplan,1999). This project will place great emphasis on the integration of effective technology in the information collection process. This technology should be able to gather information but most importantly, to sort and prioritize this factors as the first step in loan processing. Management at this point must be focused on accuracy and proper record keeping.
The second stage of loan processing is the actual application process where borrowers complete the mortgage applications with reference to all the collected information and factors. The major aspects of this stage are the Truth-In-Lending statement (TIL) and the Good Faith Estimate (GFE) (Hardiman, 2015). The main goal of these documents is to provide an estimate of the rates and cost of the loan. In regards to this, the project will focus on speed and efficiency through the development of an integrated information sharing matrix. This project will add qualities of faster processing to the already existing matrix. In essence, this project does not seek to replace the existing system but rather, to strengthen it. In most cases, this stage takes 1-5 days but with a faster system, it is going to take the least time frame within this range while still prioritizing its function.
The next stages ofopening the file and processing normally occur simultaneously. At this process, credit reports and property reports are verified. In relation to this, the project will emphasize on verification of the analysis programs to make them as error-proof as possible (Verdier, 2002). This requires testing and experimentation with other technology to compare differences in terms of effectiveness and performance. Finally, reports must be coordinated before the system is rolled out. After this, I will participate in these stages to report on the notable differences after the adjustments have been made. This project is thus geared towards spotting gaps, strengthening the system’sstrong points and fixing the weak ones. It will entail analyzing this system for the perspective of the borrower and the lender to determine the most suitable combined arrangement that serves the interest of both parties.
In the underwriting stage that follows, the project will assume the role of verification and preview of the loan development. This project will encourage more participation in coordinating between insurers in case of suspense of loans. This requires action towards organization in areas of data base and communication coordination (Hardiman, 2015). At the closing stages when the loan is finalized and authorized, the project’s role includesfollow-upon the approved loans and clear coordination between all the parties including insurance.
The final element ofproject execution willrequired participation and diversity in technology and communication. Since the loan and mortgage banking sectors are highly structured, employers and facilitators often feel that the procedures involved are extremely mechanized and repetitive. This project seeks to focus on a much neglected aspect in this industry: that of inclusion and contribution. It makes it possible for daily participants to have an ability to suggest some system faults that they encounter in their daily work. Only in this way of participation can the process of loan processing by modified and reformed on valued of transparency and less intimidation.
During this 30-hour Saturday internship, this project will be integrated into other functions such as client meetings and office maintenance all of which manifest during the process of loan processing. Essentially, my goals are to learn from this process on the growth and development of mortgage banking. This internship will serve as a practical mode of applying public administration techniques and gaining even more knowledge on finance, banking and mortgage.
References
Hardiman, D. (2015). Embrace New Opportunities: How Banks and Mortgage Companies Can Leverage Strategic Alliances to Expand Their Mortgage Lending Business. Mortgage Banking, 75 (11), 11-20.
Kaplan, E. (1999). The Bank of the United States and the American Economy. Westport: Greenwood.
Verdier, D. (2002). Moving Money: Banking and Finance in the Industrialized World. Cambridge: Cambridge University Press.
