Course Summary
Credit Type:
ACE Course Number:
11 weeks (47 hours)
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 3 Business Administration, Real Estate, or Financial Management


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 history and a glimpse into its future.

Learning Outcomes:

  • 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
  • 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
  • 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
  • And list the differences between loan processing, loan servicing and loan administration.
  • Upon completion of the course, the student will be able to understand the history of mortgage lending during the 1980's and 1990's and what fundamental changes took place
  • Understand the players and workings of the primary and secondary markets
  • 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
  • Describe the real estate appraisal process and list the important items on the report

General Course 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:

  • Discussion
  • Lectures
  • Practical Exercises

Methods of Assessment:

  • Examinations
  • Performance Rubrics (Checklists)

Minimum Passing Score:

Supplemental Materials

Other offerings from Center for Financial Training Atlantic & Central States, Inc.