The program provides you with a working knowledge of the following:
- The mortgage industry and role of mortgage originator.
- The requirements for licensure as a mortgage originator.
- The components and calculations of a mortgage payment.
- The flow of a loan file from prequalification through post-closing.
- Calculations and guidelines for borrower pre-qualification.
- Mechanics and underwriting guidelines for conventional loans.
- Mechanics and underwriting guidelines for FHA government loans.
- Mechanics and underwriting guidelines for VA guaranteed loans.
- Overview of other common loan programs.
- Federal lending laws as they pertain to mortgage financing.
- Analyzing and interpreting a tri-merge credit report.
- Mathematical calculations related to mortgage financing.
- Completing a Uniform Residential Loan Application.
- Loan file documentation requirements.
- Understanding the needs of a specific borrower; recommending the appropriate loan program.
- Calculating borrower closing costs; regulated disclosures.
- Reviewing appraisal reports; and
- Completing the Loan Estimate and Closing Disclosure.
The course is divided into 23 Modules, includes quizzes and a final exam and is approximately 40 hours of content.
This purchase shall be deemed effective on the date that the user login is created and shall continue for (60) days. A course extension can be purchased for $109 for an additional (30) days.