National Residential Mortgage Loan Originator
CATEGORY: Conventional Financing

Financing Insurance Requirements

Course Access: Lifetime
Course Overview


  1. Private
    Mortgage Insurance (PMI)

    1. How Mortgage Insurance Works
    2. PMI Premiums
    3. PMI Cancellation
  2. Secondary

    1. Combined Loan-to-Value (CLTV)
    2. Conditions
    3. Lender First and Lender Second
    4. Repayment Methods on Second Mortgages
    5. Assumption of Conventional Loans
  3. Other
    Insurance Requirements

    1. Conventional – Private Mortgage
      Insurance (PMI)
    2. FHA – Upfront Mortgage Insurance
    3. FHA – Monthly Insurance Premium
    4. Homeowner’s (hazard) insurance
    5. Flood insurance
    6. HO6 condominium insurance
    7. Content insurance
    8. Forced Placed insurance

Learning Objectives

  1.       Understand the Lender imposed requirements for
    different types of insurance on mortgage loans:

    1.       Conventional – Private Mortgage Insurance
    2.       FHA – Upfront Mortgage Insurance (UFMIP)
    3.       FHA – Monthly Insurance Premium (MIP
    4.       Homeowner’s (hazard) insurance
    5.       Flood insurance
    6.        HO6 condominium insurance
    7.       Content insurance
    8.       Force-placed insurance
  2.       Understand the use of secondary financing.

Teaching Methods:  

PowerPoints, Video PowerPoint Presentation and Optional Quiz


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