Non-Traditional Products Update

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Outline

  1. Non-Traditional Products Update
  2. It Wasn’t just the ….
  3. Loan Originator Compensation
  4. Subprime What is it
  5. The “Statement on Subprime Lending” A Solution?
  6. Where are We Now? Slowly coming out….
  7. Conforming Loan Limits

Learning Objectives       

  1. To understand how nontraditional products
    are defined
  2. To understand the general characteristics
    of subprime loans
  3. To understand the primary reasons for the
    mortgage crisis
  4. To know what deferred principal refers to
  5. To understand misaligned incentives referring
    to originators putting borrowers into risky loans
  6. To understand Interest only loans
  7. To understand the Loan Originator
    Compensation rule
  8. To know what the LO Compensation rules prohibit
  9. To understand what is the “safe harbor” for
    lenders
  10. To understand the anti-steering rule
  11. To understand Dual compensation
  12. To know why The Interagency Statement on
    Subprime Mortgage Lending was developed
  13. To understand the common factor in
    subprime and non-prime
  14. To understand The Statement on Subprime
    Lending
  15. To understand what is considered in the
    risk layering assessment.
  16. To understand when borrowers want advice
    on not paying their mortgage:
  17. To understand loan limits
  18. To understand the Loan Limit Geocoder
  19. To understand how amortization is defined
  20. To understand how the interest rates on a
    15 year mortgage compared to a 30 year mortgage
  21. To know what Portfolio loans are
  22. To understand how mortgage payments can lowered
    by paying down the principal
  23. To understand why Adjustable rate
    mortgages may be more suited for some buyers

Teaching Methods:

Power Points, Video PowerPoint Presentation and Quizzes