Debra Killian
Debra Killian, a seasoned Mortgage Loan Originator, Course Developer, and Instructor combines her extensive 35-year background in residential mortgages, real estate, banking, and accounting to excel in the mortgage industry. An alumnus of Western Connecticut State University with a B.B.A. in Accounting,
Debra has been a transformative figure in residential mortgages since 1994, overseeing and managing over $1 billion in real estate loans. Her unique educational and professional journey has positioned her as a dynamic and effective trainer in the mortgage and real estate sectors, offering tailored courses that use mortgage competencies in building long-term relationships with customers and real estate professionals.
A trailblazer in mortgage education, Debra co-authored pivotal NMLS-approved courses, including the 20-hour Pre-licensing SAFE Act course in 2010 and The Mortgage Professional for the same curriculum in 2011. Her contributions continued with co-authoring the MBA's School of Loan Origination and mortgage and real estate continuing education classes.
Debra relentlessly pursues the latest industry trends and regulatory changes, ensuring her courses, both new and existing, are continuously updated and aligned with current standards and practices.
Debra's leadership extends beyond her immediate professional sphere, evidenced by her past roles in the CT Mortgage Bankers Association, the National Association of Mortgage Professionals (NAMB) and various real estate associations.
A sought-after speaker, Debra lends her expertise to various professional groups and is dedicated to developing and delivering custom courses, reflecting her passion for education and industry advancement.
She and her husband Donald DeRespinis, own Charter Oak Systems, LLC which operates Cloes.online, and online education provider for pre-licensing courses required by the Secure and Fair Enforcement ACT (SAFE) Her passion is providing mortgage loan originators competency based training and professional development courses to all elevate mortgage loan originators. In addition to NMLS required courses, Debra and Don provide an array of compliance training to help companies comply with federal and state laws.
Interests in Real Property
Outline Deeds Requirements of a Valid Deed Warranty Deeds Deeds without Warranties Evidence of Marketable Title Public Records Notice Chain of Title Race Notice Rule Marketable Title Act Title Insurance Types of Title Insurance Policies American Land Title Association (ALTA) Abstract of Title Forms of Ownership Ownership in Severalty Co-Ownership Possessory Interests in Property Freehold Estates Leasehold Estates Ownership by Organizations Sole Proprietorship Partnerships. Corporations Condominiums, Cooperatives, and Townhomes Non-Possessory Interests: Easements Types of Easements...
Ethics and RESPA
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
Financing Insurance Requirements
Outline Private Mortgage Insurance (PMI) How Mortgage Insurance Works PMI Premiums PMI Cancellation Secondary Financing Combined Loan-to-Value (CLTV) Conditions Lender First and Lender Second Repayment Methods on Second Mortgages Assumption of Conventional Loans Other Insurance Requirements Conventional – Private Mortgage Insurance (PMI) FHA – Upfront Mortgage Insurance (UFMIP) FHA – Monthly Insurance Premium (MIP) Homeowner’s (hazard) insurance Flood insurance HO6 condominium insurance Content insurance Forced Placed insurance Learning Objectives Understand the Lender imposed...
Credit History and Loan Closing
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 to closing Refinance Transactions Right of Rescission Learning Objectives CREDIT Understand Fair Credit Reporting Act governs credit Learn about the Fair and Accurate Credit Transaction Act Identify credit criteria...
Conventional Financing
Outline Conventional Financing Traditional Conventional Loans 15-Year Mortgage Loans Conforming versus Nonconforming Loans Conventional Loan Programs 80% LTV Conventional Loan Higher LTV Loans Learning Objectives Comprehend overview of mortgage marketplace Learn about conventional loans Know the different types of conventional loans Identifying non-conventional loans Determine how conventional loans easier to obtain by : Being insured by private mortgage insurance (PMI) Secondary...
Mortgage Industry
Outline A Brief History of Mortgage Lending The Story of Mortgage Lending Key Terminology Government Agencies Federal Housing Finance Agency (FHFA) Federal Housing Administration Industry Participants – Primary Mortgage Markets Commercial Banks Savings and Loan Associations Mortgage Companies, Bankers, and Brokers Other Primary Mortgage Market Lenders Secondary Mortgage Markets Function of Secondary Markets The Flow of Mortgage Funds Secondary Markets Agencies Secondary Market Standards Present Day Mortgage Lending The Subprime Mortgage Crisis Learning Objectives ...
How Originators Work
Outline Role of the Mortgage Loan Originator Key Terminology Closing Costs Details Common Fees Associated with Real Estate Loans The Role of an Originator Roles of Mortgage Participants Mortgage Math Mortgage Note and Interest Annual Percentage Rate (APR) Interest per Diem Interest in arrears Payment Amount PITI Refinance Transactions, Purchases and Pre-qualifications Pre-approval Pre-qualification Completing the Loan Application Data Needed for an Application The Loan Application Learning Objectives 1. Identify the role of the mortgage professional 2. Learn...
Loan Originator Licensing
Outline: Home Economic Recovery Act (HERA) Nationwide Mortgage Licensing System and Registry Creation of the NMLS Objectives of the SAFE Act Definitions of Mortgage Functions Entities Regulated State Licensing Requirements Entities regulated Education and Testing Licensing Renewals Exclusions and Exemptions Registered Licensing Requirements Relationship between Federal and State Laws covering mortgage originators Investigations, examinations and penalties Learning Objectives: Understand the objectives of the SAFE Act. Understand the licensing requirements for Mortgage Loan Originator,...
Mortgage Professional Initial Assessment
This session is used to develop a baseline for your educational plan. We seek to understand your current level of knowledge of the laws and regulations covering mortgage loan origination. Students who score over 80% on the initial assessment or students who have taken the CLOES.online 20 Hour SAFE Act Course are exempt from talking the fundamentals course.