This session reviews commonly used IRS forms and how to use them for qualifying income under the Ability to Repay Rules. Become a income expert. Master this analytical skill to outperform your competition. Understand the basics of what underwriters are looking for. Learn to qualify more borrowers Review of the Federal 1040 & Schedules, 1065, 1120, 1120″S”, K-1 Capture borrower’s attention using professional skills Certificate requires final assessment grade of 80% or higher.
Course Outline TILA Definitions Part a TILA Definitions Part B TILA Review Advertising Requirements Permissible Finance Charges APR Tolerances Disclosed Finance Charges Learning Objectives To understand what is beneath all laws and regulations on lending To understand what is loan “consummation” To understand what TILA applies to To understand what loans covered under TILA To understand the definition of …
Outline Ethics and RESPA Real Estate Settlement Procedures Act (RESPA) Section 8 Kickback Prohibition Ethics and Protection of Data Gramm-Leach-Bliley Act Fair Credit Reporting Act and the FACT Act Learning Objectives Understand the requirements about RESPA Know about Ethics and the protection of data Understand how ethics is related to Fair Credit Reporting Teaching Methods: PowerPoints, Video PowerPoint Presentation and Optional Quiz
Outline Ethics and Mortgage Fraud Fraud and Conspiracies Fraud for Profit Housing Fraud Red Flags of Mortgage Fraud Transaction Fraud Fraud Participants Appraisal Independence Flipping Other Types of Mortgage Fraud Penalties for Mortgage Fraud Excessive Fees Common Predatory Lending Ploys Predatory Lending Excessive Fees Common Predatory Lending Ploys Indicators of Predatory Lending Anti-Predatory Lending Laws Consumer Protection for High Cost Loans Learning Objectives Understand the meaning of fraud Understand the different …