Learning Objectives 1.       Identify the role of the mortgage professional 2.       Learn differences between Prequalification and Preapproval 3.       Learn about the loan process Teaching Methods: Power Points, Video PowerPoint Presentation and Quiz

Outline Loan to Value Ratio (LTV) Qualifying a Borrower Credit Ability to repay Property Eligibility Assess Risks Analyzing Borrower and Property Capacity Credit Collateral Analyzing assets Down payment Reserves Third Party Verification Gifts Automated Underwriting Systems Desktop Underwriter DU – …

Outline Credit Reports and Scores Credit Repositories Consummation  Consummation Closing Disclosure Clearing Title Conditions Settlement Reconciliation Down payment Reserves Third Party Verification Gifts Proration and Expenses Calculating Per Diem Interest Purchase Transactions Final Closing Disclosure CD issued 3 days prior …