Course

Course Summary
Credit Type:
Course
ACE ID:
CFTA-0014
Organization's ID:
A201
Location:
Online
Length:
11 weeks (47 hours)
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 3 residential mortgage lending
Description

Objective:

The course objective is to cover construction and permanent financing for residential property; real estate law; documentation; mortgage loan servicing; the secondary mortgage market; the role of government in mortgage lending; and residential real estate as an investment. The discussion of underwriting, processing, and servicing will give participants a framework for learning the mortgage lending business and refining their existing knowledge. Additionally, the coverage of laws and regulations affecting mortgage lending provide an understanding of mortgage lending's history and a glimpse into its future.

Learning Outcomes:

  • understand the history of mortgage lending during the 1980s and 1990s and what fundamental changes took place
  • describe the types of ownership allowed in real estate
  • cite the recent trends in the mortgage lending
  • explain the difference between mortgage bankers and mortgage lenders
  • understand the players and workings of the primary and secondary markets
  • list the participants of the secondary mortgage market
  • describe each of the products and terms of conventional mortgage financing
  • explain what private mortgage insurance is and how it benefits both the borrower and lender
  • state the loan programs the government offers to assist home buyers
  • cite the terms of home equity loans as well as the benefits and pitfalls of such a product
  • list and describe each of the regulations associated with the mortgage loan industry
  • understand the mortgage loan process, from origination to closing
  • explain each of the terms associated with underwriting a residential mortgage loan, including LTV, HTI and DTI
  • describe the real estate appraisal process and list the important items on the report
  • list the differences between loan processing, loan servicing and loan administration

General Topics:

  • History of mortgage lending
  • Role of residential mortgage lending in the economy
  • The mortgage lenders
  • Strategies for generating residential loans
  • Mortgage instruments
  • Residential mortgage loan origination and processing
  • Underwriting the residential mortgage loan
  • Government insurance and guaranty programs
  • Private mortgage insurance
  • Selling residential mortgage loans
  • Secondary mortgage market
  • Residential real estate appraisal
  • Closing the residential loan
  • Mortgage loan servicing and administration
  • Real estate law and security instruments
  • Compliance
  • Construction lending
  • Home equity loans
Instruction & Assessment

Instructional Strategies:

  • Audio Visual Materials
  • Computer Based Training
  • Discussion
  • Lectures
  • Practical Exercises

Methods of Assessment:

  • Examinations
  • Other
  • Performance Rubrics (Checklists)
  • Examinations, Direct Email Assignments, and Discussion Questions

Minimum Passing Score:

70%
Supplemental Materials

Other offerings from Center for Financial Training

(CFTA-0005)
(CFTA-0018)
(CFTA-0006)
(CFTA-0007)
(CFTA-0008)
(CFTA-0022)
(CFTA-0009)