Mortgage Advisor Compliance Program
This 18-hour program is designed to provide general knowledge of residential mortgage lending for financial professionals that are employed in an advisory capacity.
The program is designed to be taken over a 4-6 week period.
The course includes the required compliance of federal laws in originating a mortgage application. It also provides advisors in the financial field with general loan level concepts and principles that underwriters and credit policy requires.
Each one-hour episode is a self contained topic. The cumulative result is a broad overview of residential lending.
- Lectures 0
- Quizzes 0
- Duration 18 hours
- Skill level Intermediate
- Language English
- Students 0
- Assessments Yes
A brief overview of what to expect and the perspective to learn from.
Every time we interact with a client, co-worker, real estate agent and we have a psychological, emotional and financial IMPACT on their life. Learn about your impact and change the way you see client challenges..
2 Federal Laws - Truth in Lending
The federal Truth in Lending Act has wide and serious consequences when the law is violated. Learn the dos and don'ts in residential lending.
3 Federal Laws - RESPA
The federal Real Estate Settlement Procedures Act is continually challenged by mortgage settlement service providers. Learn how to remain compliant.
4 Federal Law - ECOA
The federal Equal Credit Opportunity Act has long reaching tentacles through financial transactions of all types. Learn how to comply with ECOA in a residential mortgage transaction.
5 Finance Instruments
Real estate financing has many legal consequences for lenders and borrowers. Learn the terminology and what documents transfer what authorities and power.
6 Interests in Real Property
Ownership in residential real estate comes with rights and restrictions. Learn the terms and rights of residential property.
7 #MP Origination Activities
Mortgage loan originators have specific duties and requirements according to federal law. Learn about residential real estate transaction types and why consumers need mortgage financing.
8 The 1003 & Credit Reporting
Every transactions starts with a complete and accurate mortgage application and a credit report. Learn how to start the file for a successful transaction.
9 MP Documenting the File
Mortgage transactions require that all statements and data be verified by third parties. Learn how to collect and review documentation.
10 11MP Conditionless Files - Are They Even Possible?
Mortgage loans can directly impact the consumer's perception of your ethics and your ability to get them to closing. Learn how to anticipate all documents before they become added conditions.
11 6MP Qualifying Income
Underwriters approve loans based on the consumer's ability to repay. Learn how to determine the ability to repay and calculate qualifying income.
12 7 MP The IRS and Tax Reporting
Qualifying income is different than taxable income. This episode shows how to identify legitimate sources of income for qualifying for a mortgage.
13 14 MP Appraising the Collateral
Without real estate lending would be even riskier than it is with collateral. Learn how lenders look at the collateral pledged.
14 PE 13Nontraditional Products
The SAFE Act defined nontraditional products. Learn what they are and how they impact the way you disclose to a consumer.
15 PE14 Adjustable Rate Mortgages
Adjustable rate mortgages are often misunderstood, under-disclosed and can be a great benefit to certain borrowers. Learn the components of ARMS and what consumers need to know about them.
16 PE 18 Ethics in Lending
Ethical behavior is easy to identify. Unethical behavior in lending is even easier to identify. Learn what it means to comply by demonstrating knowledge of ethics.
17 PE19 Ethics in RESPA
The ethics of working with affiliated parties in a real estate transaction can be tricky. Learn how to stay compliant and provide lower costs to consumers.
18 PE20 Ethics and Fraud
Mortgage fraud is a broad term and usually involves an ethical challenge. Learn how ethical behavior can avoid mortgage fraud.