Credit History and Loan Closing

Associated Courses

$49.00

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SKU: MP-CREDCL Category:

Outline

Credit
Reports and Scores

  1. Credit Repositories

Consummation 

  1. Consummation
  2. Closing Disclosure

Clearing
Title Conditions

Settlement
Reconciliation

  1. Down payment
  2. Reserves
  3. Third Party Verification
  4. Gifts

Proration
and Expenses

Calculating
Per Diem Interest

Purchase
Transactions

  1. Final Closing Disclosure CD issued 3 days prior to closing

Refinance
Transactions

  1. Right of Rescission

Learning Objectives       

CREDIT

  1.       Understand Fair Credit Reporting Act governs
    credit
  2.       Learn about the Fair and Accurate Credit
    Transaction Act
  3.       Identify credit criteria for evaluating
    borrowers.
  4.       Understand the importance and use of credit
    scoring.
  5.       Understand the role of the credit bureau vs
    credit reporting service

 

CLOSING
& CONSUMMATION

  1.       Learn the steps to the closing process
  2.       Learn the difference between closing and
    consummation
  3.       Understand responsibilities of facilitators at
    closing
  4.       Learn how to calculate prorated items

Teaching Methods:

Power Points, Video PowerPoint Presentation and optional Quiz