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      Non-Traditional Products

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      • Non-QM and Adjustable Rate Loans

      Non-QM and Adjustable Rate Loans

      Debra Killian
      Non-Traditional Products
      $49
      The Mortgage Professional_S
      • Overview
      • Curriculum
      • Instructor

      Outline

      1. The Use of Nontraditional Mortgage Products Interagency Guidelines
        1. Guidance on Nontraditional Mortgage Products
        2. Statement on Subprime Mortgage Lending
        3. Predatory Lending
      2. Subprime Loans
        1. Assessing Risk
      3. Adjustable Rate Mortgages (ARMs)
        1. How ARMs Work
        2. ARM Standardization
        3. ARM Disclosures
        4. ARM Programs
      4. Seller Financing
        1. Purchase Money Mortgage
        2. Assumption
        3. Seller-Sponsored Wraparound Financing
        4. Purchase Money Second Mortgage
        5. Land Contracts
        6. Land Contract with Assumption of an Existing Mortgage
      5. Other Forms of Creative Financing
        1. Lease/Options
        2. Lease/Purchases
        3. Equity Exchanges
        4. Participation Plans
      6. Homebuyer Assistance Programs

      Learning Objectives

      1.       Demonstrate knowledge of mortgage products available in the market
      2.       Identify characteristics of sub-prime loans
      3.       Identify and define nontraditional products as defined by the SAFE Act
      4.       Demonstrate ability to identify ARM components
      5.       Learn calculations for ARM interest rate and payment adjustments
      6.       Understand how consumers can be harmed by products
      7.       Demonstrate ability to appropriately disclose features of all products

      Teaching Methods:

      PowerPoints, Video PowerPoint Presentation and Optional Quiz

      Course Features

      • Lectures 1
      • Quizzes 1
      • Duration 1 Hour
      • Skill level All levels
      • Language English
      • Students 11
      • Certificate Yes
      • Assessments Yes
      ShopTraining TopicsNon-Traditional ProductsNon-QM and Adjustable Rate Loans
      • INTRODUCTION 0

        No items in this section
      • COURSE 1

        • Lecture2.1
          Non-QM and Adjustable Rate Loans
      • COURSE COMPLETION 1

        • Quiz3.1
          Quiz on ARMs and Non-QM 0 question
      Debra Killian
      Debra Killian is a NMLS State Licensed Mortgage Loan Originator and Certified Residential Mortgage Specialist (CRMS), graduated from Western Connecticut State University, Danbury, CT with a B.B.A. in Accounting. She has over 35 years of financial, banking, accounting and business experience. Since 1994 when she started originating retail residential mortgages she has directly overseen and managed in excess of $1 billion in closed residential real estate loans, representing thousands of customers. Debra's experience and educational focus has given her an edge in the marketplace and a strong foundation as a passionate trainer for mortgage originators and Realtors offering customized sales and and mortgage-related training courses. She utilizes a proprietary software system (LoanMgr) developed by her partner and husband Don DeRespinis, CPA, CRMS designed for compliance, transparency and constant communications with customers, clients, Realtors, attorneys and closing agents throughout each and every transaction. In 2010, Debra co-authored one of the first NMLS approved 20-hour Pre-licensing SAFE Act courses, required for all state-licensed mortgage originators by Title V of the SAFE Act. She also develops for continuing education classes for Realtors. In 2011, Debra and Don co-authored The Mortgage Professional, National Residential Mortgage Loan Originator which has been approved by the NMLS for the 20-hour pre-licensing course. In 2014, she co-authored the MBA's School of Loan Origination(SOLO) I and II. Past positions include Directors of the CT Mortgage Bankers Association (CMBA) and National Association of Mortgage Professionals (NAMB), Past President of the CT Mortgage Association (CMA) as well as served on the Education, FHA and Government Affairs committees of NAMB. Debra is one of only four originators in CT to earn the Certified Residential Mortgage Specialist (CRMS) designation and the first originator in CT to earn the Lending Integrity Seal of Approval from NAMB. Debra speaks on a variety of topics to various professional groups and trade organizations and is available for custom course development and delivery. She is a member of the NAMB, CMA, AIME, Northern Fairfield County Association of Realtors (NFCAR), Connecticut Association of Realtors (C.A.R) and the National Association of Realtors. (NAR).
      • Overview
      • Curriculum
      • Instructor
      $49
      • Share:

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