As loan programs have disappeared and lenders have gone away, more focus has been given to VA & FHA mortgages, which once held nearly 20% of the mortgage market. Many forging ahead into these arenas are flying blind and that is a huge mistake. Loan Officers should get very familiar with the programs and some of the idiosynchrasies before they start origination of VA & FHA loans.
For VA loans, there are training modules on their website at www.va.gov and some of the materials can be downloaded and printed for future reference. Speaking to folks at the regional processing centers for VA can also provide some insight and free training is often given by them. Some sessions are interactive and are in video format. VA is a great program and if used properly, you can help a lot of veterans to purchase a home.
There are many FHA training sites. One that I recommend is from a national trainer, Cheryl Diehl. She publishes some very helpful reference guides for originators, processors and underwriters and has developed a strong reputation for good instruction. Her website is www.fhaseminar.com . The more you know, the more folks you can help. And spending some time getting educated is time well spent.