- Business Rules
Essentials of Mortgage Lending (Classroom)
This course provides a high-level overview of the mortgage industry for novices. Addressing mortgage types, products, and programs, the course will also touch on roles and responsibilities of key players in the loan process. Four main regulators and five significant regulations will be briefly covered. Students will have the opportunity to review and practice completing critical components of a loan file.
What will I learn?
Upon completion of the course, students will be able to:
- Discuss the mortgage lending business by reviewing the loan cycle and discussing the relationship of mortgages to the economy
- Review mortgage types, products, and programs.
- Identify the roles and responsibilities of four main regulators, and the purpose and intent of five significant regulations.
- Explore the responsibilities and activities of key roles and players of the mortgage process
- Practice data gathering and data entry in the loan process, including the 1003 and HMDA input forms.
- Review and analyze modern examples of mortgage fraud, and discuss reporting requirements
Participants will complete a comprehensive online assessment after the conclusion of the course to assess mastery of the content. Students must earn a minimum score of 70% to pass.