Course

Course Summary
Credit Type:
Course
ACE ID:
ABAN-0168
Location:
Classroom-based
Length:
16 weeks (45 hours)
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 3 Introduction to Mortgage Lending, Banking, or Finance
Description

Objective:

The course objective is to provide loan officers, underwriters, loan processors, and loan servicing professionals the solid background they need to help their customers borrow responsibly, which benefits the customers, the bank, the banking industry, and the nation's economy. It is comprised of two courses: Fundamentals of Mortgage Lending and The Mortgage Lending Business.

Learning Outcomes:

  • Understand the various functions and responsibilities of the loan servicing department
  • Identify government agencies and government-sponsored agencies that interact to further home ownership
  • Explain why banks loan money on the security of income-producing property
  • Describe ways to detect and prevent fraud.
  • Discuss the involvement of commercial banks and other financial institutions in the real estate industry
  • Explain how property is transferred from one owner to another and the legal implications of transfer of property
  • Identify the principle federal laws that apply to origination of home mortgage loans
  • Explain the cost approach, market data approach, and income capitalization approach to real estate lending
  • Describe the basic procedures involved in purchasing and selling residential property
  • Describe the organization, principal participants, and basic operations of the secondary mortgage market

General Topics:

  • The business of mortgage lending
  • Introduction to real estate and mortgage law
  • The law of residential real estate lending
  • Determining property values
  • Financing residential real estate
  • Servicing residential mortgage loans
  • The secondary mortgage market
  • Government involvement in mortgage lending
  • Construction and land development lending
  • Investing in residential real estate
  • Understanding, detecting, and preventing mortgage fraud
Instruction & Assessment

Instructional Strategies:

  • Computer Based Training
  • Discussion

Methods of Assessment:

  • Examinations
  • Quizzes

Minimum Passing Score:

70%
Supplemental Materials