Course

Course Summary

Credit Type:

Course

ACE ID:

CFTA-0014

Organization:

Center for Financial Training

Location:

Classroom-based

Length:

11 weeks (47 hours)

Dates Offered:

Credit Recommendation & Competencies

Level	Credits (SH)	Subject
Lower-Division Baccalaureate	3	Business Administration, Real Estate, or Financial Management

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 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
List the differences between loan processing, loan servicing and loan administration.
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