Upcoming Classes

ABC’s of FHA 8 CEUs

ABC’s of FHA covers the basics of FHA origination processing, underwriting and compliance, including Good Faith Estimates, and maximum mortgage calculations. The course also looks at property and credit analysis and refinance transactions. Upon completion of the course the student should be able to:

• Understand what FHA is
• Understand how to become an FHA lender
• Identify the available FHA programs
• Understand the origination basics
• Identify High vs. Low Closing Cost states
• Understand Maximum Mortgage Calculations
• Understand refinance basics
• Understand the credit analysis and property evaluation involved in FHA loans
• Understand the FHA marketing guidelines

SHEDDING LIGHT ON CREDIT SCORING 4 CEUs

The course is designed to provide the broker with a basic understanding of the complexities and conditions of credit scoring and prepare him/her to be a resource for the consumer. It includes a discussion of FICO bureau scores and MDS bankruptcy scores, evaluating a score to industry guidelines, and compensating factors. Upon completion of the course the student should know:

• What the credit scoring model is, who does it and how it is developed
• What a reason code is and how it is used in the credit report
• Why credit file discrepancies happen and how to dispute them
• Federal Law that regulates credit scoring
• What the required disclosures are when providing consumers information about their credit

MORTGAGE BROKER BUSINESS ETHICS 4 CEUs

Mortgage Broker Business Ethics explores the basic concept of ethics in relation to business judgment and practice. The internal and external decision-making process of mortgage professionals is discussed with regard to job performance, consumer pressures, and industry competition. The cousre incorporates public complaints filed with state regulators as case studies for group discussion. Within small groups, participants are instructed to reach consensus on each case study presented. Group consensus must be reached determining whether the resulting decision was: ethical, unethical, or debatable. The goal is to promote decisions that support standards of good business practice while ultimately leading to the development of positive public image and respect of the mortgage brokerage profession. Upon completion of the course students should know and understand:

• Definitions of Ethics
• Personal Values and Ethical Decision-Making
• Self-Exploration of Ethical Compromise
• NAMB Code of Ethics
• Difference Between Law and Ethics
• Decision-Making in Business Transactions
• Ethics of Disclosure throughout Loan Origination
• Solving Ethical Problems Related to Loan Transaction Decisions
• Industry Teamwork and Ethics in Decision-Making

PROTECT YOUR BUSINESS: THE CUSTOMER, THE LAW AND YOU 8 CEUs

Protect Your Business: The Customer, The Law & You looks at the fair lending regulations and legal compliance, and then applies those principles beyond the legal boundaries to strategies of good business. Upon completion of this course students will know:

• What the fair lending laws are and the basic principles behind them
• The importance of customer service and representation
• The importance of establishing company policies and procedures for both legal and business reasons
• The application process and how fair lending applies to it
• The lender/broker team
• How Fair Lending relates to good business practice and increased opportunity.

RML MODULE I 2 CEUs

Residential Mortgage Lending Module I introduces participants to the field of conforming, residential mortgage lending by presenting an overview of the players, the process and the markets involved. At the end of the course students should:

• Understand the three basic components of Residential Mortgage Lending
• Know the four principal stages in the mortgage loan cycle and the major activities in each
• Be able to describe the role of the mortgage broker and the broker’s relationship to the other organizations that participate in the mortgage industry
• Understand the key differences among conventional, FHA/VA and Subprime/
non-conforming loan programs
• Understand the differentiation between primary and secondary mortgage markets
• Be able to describe the government-related participants in the modern secondary mortgage market
• Be able to describe types of transactions-sale of whole loans, participations and mortgage-backed securities
• Be able to differentiate servicing-released from servicing-retained transactions
• Know the basic principles of risk management
• Understand the cause and effect relationship between primary and secondary mortgage market activities.

RML SCHOOL 16/24 CEUS

The RML School is a comprehensive training course designed to reinforce the basics of conforming residential mortgage loan origination. The School focuses on the documents, processes and regulations involved in residential mortgage lending, specifically:

• Mortgage Industry Overview
• Types of Mortgage Loans
• Mortgage Origination and Regulations
• Pre-Qualifying the Borrower
• Taking the Residential Loan Application
• Underwriting Standards
• Packaging a Mortgage Loan
• Loan Documentation
• Appraisals and the Valuation Process
• Analysis of Loan Turn Downs
• Aspects of Loan Closing
• Loan Servicing
• Economics of the Secondary Market

REVERSE MORTGAGE BASICS 2 CEUs

Reverse Mortgage Basics focuses on developing the basic knowledge and skills in reverse mortgage lending. The course demonstrates the differences between the reverse mortgages and traditional mortgages, looks at the characteristics of reverse mortgages and the available products. Upon completion of this course students should be able to:

• Understand the operation of a reverse mortgage
• Understand what the general funding resources for reverse mortgages are
• Explain the history of reverse mortgages
• Understand the characteristics of a reverse mortgage and the qualification process
• Explain the loan process
• Explain the borrower protections involved with reverse mortgages
• Differentiate between FHA, FNMA, and proprietary loan programs
• Understand how the maximum loan amount is determined
• Explain payment plan options and the costs and fees involved in a reverse mortgage

TILA 4 CEUs

This course discusses the Truth In Lending Act, its Regulation Z, and the Commentary to Regulation Z. At the end of the course students should know and understand:

• Open End Credit – Home Equity Lines
• Home Equity Disclosure
• Closed End Credit – most mortgages
• ARM Disclosure
• TIL Disclosure
• Rescission Disclosure
• Home Ownership Equity Protection Act (HOEPA)
• HOEPA Disclosures
• Reverse Mortgage Disclosures