TRAINING AND DEVELOPMENT 1

Himalayan College of Management

Infrastructure University

Dristy Adhikari

Employee Training and Development

1st July, 2021

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Abstract

This paper outlines the introduction, importance and condition of training and development in Home

Loan Experts one of the leading Mortgage broking firm currently operating in Nepal. It gives an in depth

insight on the specifics of training prevalent in the organization and how it has helped transform its

employees over the years.

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Introduction:

Employees with Project Management abilities are a significant asset to any organization, despite the fact

that there are various types of training available, such as management and sales training. Training is a

great way to broaden the knowledge base of all staff, but in today's economy, many organizations find

development chances to be prohibitively expensive. Employees who attend training sessions miss out on

work time, which might cause projects to be delayed. Despite these possible negatives, training and

development brings benefits to both individuals and organizations as a whole, making the expense and

time invested worthwhile. The return on investment from employee training and development is highly

efficient.

Home loan experts is one of the leading outsourcing mortgage broking firm currently working with the

financial lenders from Australia providing Australians with home loan in purchasing their dream home

with best interest rate possible. An organization dealing with a financial aspects of people needs to have

highly competent and trained employees therefore, HLE is supposedly one of the organizations in Nepal,

who invest millions in employees’ training and development.

Every employee in HLE gets a training worth of Nrs. 1 lakhs every year, the training includes technical,

interpersonal, communication, holistic development and overall employee development aspects which

does not just increase the working efficiency of its employees, but helps in their overall personal growth

and development. The knowledge and skill based training provides each new and old employees an

opportunity to explore their options within the organization as well. It helps them understand their

strengths and weaknesses which eventually helps them to ace in any career they take within the

organization as well.

Home loan experts provides diverse training and development session to their employees. As soon as the

new employees join the organization, they are put into an in depth and highly grooming training session

where they are provided the overall insights of what they call “life of a loan”. This session incorporates
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all the aspects, process, significance of how a client gets loan to purchase their home. It also gives an

insight to the amount of hard work each broker, broker support, marketing, and sales team have to do in

order to achieve the level of competency in the mortgage broking industry.

The training starts by providing practical as well as theoretical skills to new employees by making them

about various terms and terminologies of the mortgage and financial industries, the type of forms that we

have to fill, the types of documents that we require how the financial position of a client determines and

kind and amount of loan that they are most likely to get. We are also taught about the policies, laws, rules

and regulations of both private and government sector of Australia. I t really helps people understand

finance and mortgage in a broader aspect. It builds knowledge, make employees more aware.

After the introductory training, the employees are provided with training in regards to their respective

departments. For instance, if you are hired in sales department, you will be getting an in depth process,

steps and significance of your particular job. You are eased on to the process by teaching and training on

the skills, tasks and methods to help you perform your job. The attention to details and attention to

making an employee understand their department better is highly commendable. From a human resources

perspective, it gives the employees an immense job satisfaction and motivation to perform efficiently

which then enhances the productivity of the organization.

Let us discuss the overall benefits of training

Employee performance is improved — an employee who receives the essential training is better able to

do their job. The training will improve the employee's grasp of their role's responsibilities and, as a result,

their confidence. This self-assurance will boost their overall performance, which can only be beneficial to

the firm. Competent employees who keep up with evolving industry standards help your organization

maintain its position as an industry leader and strong competitor.

improved employee happiness and morale - a company's investment in training shows that employees are

appreciated. The training fosters a positive work environment. Employees may have access to training
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that they would not otherwise be aware of or seek out on their own. Employees who are valued and

challenged through training opportunities may have a higher level of job satisfaction.

Identifying and addressing flaws: The majority of employees will have certain flaws in the workplace. A

training program enables you to increase the abilities that each employee need. A development program

raises the level of all employees, ensuring that they all have the same skills and expertise. This helps to

eliminate any weak points in the firm that rely on others to execute basic labor tasks. By providing the

appropriate training, employees will be able to take over for one another as needed, operate in teams, or

work independently without the need for constant assistance and supervision.

Employees have a consistent experience and background knowledge thanks to a strong training and

development program. The importance of consistency is especially important when it comes to the

company's basic policies and practices. All employees must be informed of the company's expectations

and procedures. Increased process efficiencies result in monetary gain for the company.

Increased productivity and adherence to quality standards- When a company conducts training courses,

productivity normally rises. Increased process efficiency will assure project success, increasing the

company's turnover and potential market share.

New strategies and products are being developed at a faster rate than ever before – Continuous training

and up skilling of employees might help to foster creativity. Training and growth can lead to the

formation of new ideas.

Reduced employee turnover - employees who are invested in are more likely to feel appreciated and, as a

result, are less inclined to switch companies. Training and development are considered as a bonus for the

company. As a result of employee retention, recruitment costs are reduced.

Improves the company's image and reputation – Having a strong and effective training strategy will help

you build your employer brand and make your organization a top choice for recent graduates and mid-

career changers. Training also makes a company more appealing to potential new hires looking to better
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their abilities and the chances that come with them. Training can be of any type that is relevant to the

individual's work or obligations, and it can be delivered in any way that is acceptable.

Blended learning is growing increasingly popular, and we've witnessed a significant surge in this kind of

training in the last year as a firm. Blended learning is a method of learning that combines online and

classroom learning. Many of 20|20's clients want their employees to study on-site rather than attend off-

site training programs, particularly in industries like oil and gas, where off-site training is frequently

unfeasible. On-site learning programs, such as the blended learning strategy, enable 20|20 to train more

employees operating across a broader worldwide footprint.

The list of training and development courses that are active in Home loan experts:

Processing of Loans:

While Loan Officers are in charge of generating loan business and accepting initial loan applications,

Loan Processors are in charge of double-checking paperwork, rectifying any errors, and communicating

with the underwriter to ensure the loan is authorized.

Underwriting

To "close" on a loan, a number of actions and documentation are required. The next phase is mortgage

underwriting, which is the lender's method of assessing risk and ensuring that a borrower fits all of the

loan's conditions.

VA Preparation

The VA (Veterans Administration) is a government agency that provides mortgage loans to veterans

through VA-approved lenders. Single-family and multi-family residences, as well as mobile homes and

hospitals, are all eligible for these loans. With the increased availability of VA loans, VA loan processing

is an important part of bringing your loans to close - but you'll need to know how to advertise and process

these loans.
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Conventional

A conventional loan, often called a conforming loan, is one that is not guaranteed or insured by a

government body like the Federal Housing Administration (FHA) or the Department of Veterans Affairs

(VA). Home loans that are "plain vanilla" are referred to as conventional mortgages. They're usually set

in stone in terms of terms and rates, and they stick to rather conservative guidelines.

Commercial

You will learn about the whole loan process, including how a commercial real estate loan is advertised,

underwritten, approved, documented, closed, and monitored, by enrolling in one of our commercial loan

training courses. You'll also learn about the numerous paperwork that are generally found in a

commercial loan transaction, as well as their legal implications for the bank's relationship with its

borrowers.

Tax Return Analysis/Appraisals

Our appraisal training courses cover the ins and outs of the assessment and valuation process from both

the lender's and appraiser's viewpoints, ensuring that you have a complete understanding of what is

necessary.

Checklists for Compliance

Get "Best Practice" recommendations, reminders, and checklists for home and commercial loans.

Consumer Loan Education Programs

The consumer loan training classes will help you deal with those dreaded real-estate loan issues! Our

consumer loan and loan processor training courses will teach you the fundamentals of consumer lending

and loan processing, including the different types of loans, lending requirements, and loan processing

standards and best practices.

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Conclusion

A mortgage company is a company that specializes in originating and funding residential and commercial

mortgages. A mortgage firm is frequently merely the loan originator; it offers itself to potential

consumers and seeks funds from one of numerous client financial institutions to fund the mortgage. It is

highly technical and a fast growing industry hence, it is important for the company provide upgraded and

highly influential training to help the employees cope and increase efficiency. HLE has been extremely

serious and focused about providing top class training and development course to their employees. In the

time of pandemic, HLE went digital in terms of work and training, this has not changed the level of

efficiency and relevance of training provided to the employees.