State
of
Fundamentals of
Mortgage Lending (Mortgage Lending 101)
12 credit hours
2 day class
This is an introduction to
the mortgage lending field designed to assist your new staff to the unique
mortgage lending field and the lingo used. Meets
Ethics requirement for State of
Learn: What is Origination?
How do we qualify borrowers?
How to complete the 1003 application correctly
Calculating
LTV
Basic credit guidelines
Compliance
And much more!
1 day class
This course will assist the
mortgage officer to recognize an FHA applicant and how to take an application
correctly, resulting in more closed loans.
We will discuss credit
guidelines, down payment sources and minimum property standards and a review of
the required FHA forms.
This is a one day course that
your loan officer can’t afford to miss if they want to successfully originate
the FHA product.
FHA Underwriting 12 credit hours
2 day
class
This is an in-depth review of
how to effectively underwrite a mortgage to FHA standards. Emphasis is on credit standards, property
requirements and non-traditional borrowers. TOTAL Scorecard will also be
discussed.
The FHA application is
reviewed from origination through funding.
This allows the underwriter to comfortably sign off on the file and
understand the entire process.
This 2 day course allows the
student to underwrite varied scenarios to become comfortable with FHA
standards. Completion of this course
will allow the student to become DE Certified.
VA Financing 4 credit hours
Half day class
This is an overview of the VA
product with review of all the forms necessary to complete a VA mortgage. We discuss qualifying the VA borrower, credit
standards and the many benefits available to the veteran.
This is an excellent course
for all staff as we review the VA product from application through to
closing. If you are thinking about
offering VA, then this is the course to attend.
Regulatory Compliance 4 credit hours
Half day class
This class is designed to
assist the mortgage professional to understand the regulations associated with
our industry and the consequences of neglect of the regulation.
We review the highlights of
the regulatory world, how each regulation must be adhered to as well as when
the regulation is required. Regulations
reviewed include:
RESPA
ECOA
HOEPA
HMDA
FCRA/FACTA
Ethics and Compliance
for the Mortgage Professional 12
credit hours
(Mortgage Lending Refresher Course)
2 day class
This class is designed as a
refresher for experienced Mortgage Lenders to review the current industry
trends and basic ethical lending practices.
As we progress through the
session we discuss:
Products
Successful Qualifying of the borrower
Income
review
Debt considerations and credit
guidelines
Acceptable documentation of the mortgage file
Appraisals
Credit
standards and how to discuss the credit with the client
A full 3 hours is devoted to
the Compliance world as we discuss the major regulations that affect our
industry and how to effectively apply the regulation into the mortgage
application. An additional 1 hour is
devoted to State of Maine specific compliance guidelines and how to incorporate
state requirements in with the federal guidelines.
Much time is devoted to the
Residential Mortgage Loan Application (FNMA 1003) to review not only how to
accurately complete the form, but why the information is important and what
effect that information has throughout the process.