NAMB Certified Residential Mortgage Specialist Education Program
Overview Certified Residential Mortgage Specialist (CRMS®) Certification Exam Information Exam Overview The Certified Residential Mortgage Specialist (CRMS®) certification exam measures the knowledge of mortgage professionals who have been in the industry for at least two years. NAMB…
Molecular Marketing – How to Never Make a Cold Call Again
In this course you will learn techniques to build a business-to-business model to develop a real estate agent, based business. Learn how 3 principles of relationship building will create business for you: Learn how to NEVER make…
Anti-Money Laundering Education Program
This program provides individuals and mortgage lenders the required education which fulfills their responsibilities to actively manage an Anti-Money Laundering (AML) Program as required by the Bank Secrecy Act (BSA) and its implementing regulations and FINRA Rule…
The Underwriting Process
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 – Fannie Mae…
Truth in Lending and RESPA
Outline Department of Housing and Urban Development Act HUD’s Mission Federal Housing Administration Truth in Lending Act (TILA) Reg ‘Z’ Disclosures Annual Percentage Rate (APR) Loan Estimate (LE) Finance Charges Tolerances Right of Rescission Advertising Required Disclosures Mortgage Disclosure Improvement Act Amendments Fair Credit Reporting Act…
Equal Credit Opportunity Act and Other Protections
Outline Laws Prohibiting Discrimination Equal Credit Opportunity Act (ECOA) ECOA Requirements Enforcement Disclosures Fair Housing Act Fair Housing Act Exemptions Fair Housing Violations Discrimination in Mortgage Lending Discriminatory Practices Enforcement Home Mortgage Disclosure Act (HMDA) Reg C Covered Properties Data Reporting Home Ownership and Equity Protection Act…
Consumer Protection and Other Federal Laws
Outline Red Flags Rule Federal Trade Commission Homeowner and Economic Recovery Act (HERA) Disclosure Provisions of the HPA Higher Priced Mortgage Loans HPML Definition Restrictions Dodd-Frank Wall Street Reform and Consumer Protection Act Bureau of Consumer Financial Protection Homeownership counseling Qualified Mortgage Rules Ability to…
FHA Loan Programs
Outline Federal Housing Administration (FHA) Insured Loans Mutual Mortgage Insurance Fund FHA Underwriting Standards Property Guidelines for FHA Loans FHA Loan Regulations Mortgage Insurance Premium Seller Contribution Limits Prepayment Penalties FHA Loan Programs Learning Objectives Identify…
VA and USDA Loans
Outline VA-Guaranteed Loans Loan Limits for VA Loans Borrower Guidelines for VA Loans Qualifying Standards Property Guidelines for VA Loans Entitlement VA Loan Regulations VA Loan Programs Comparison of FHA and VA Qualifying Standards USDA Rural Development Programs Section 502 Loans Learning Objectives…
Non-QM and Adjustable Rate Loans
Outline The Use of Nontraditional Mortgage Products Interagency Guidelines Guidance on Nontraditional Mortgage Products Statement on Subprime Mortgage Lending Predatory Lending Subprime Loans Assessing Risk Adjustable Rate Mortgages (ARMs) How ARMs Work ARM Standardization ARM Disclosures ARM Programs Seller Financing Purchase Money Mortgage…
Other Non-Traditional Products
Outline Interest Only Loans Participation Plans Negative Amortization Loans Other ARM Provisions Structured Mortgages Reverse Mortgages Construction Financing Learning Objectives Demonstrate knowledge of interest only loans Identify characteristics of negative amortization loans Identify and define other provisions of…
Real Estate Appraisals
Outline Real Estate Appraisal Appraisal Approaches Uniform Standards of Professional Appraisal Practice (USPAP) The Uniform Residential Appraisal Report (URAR) Characteristics of Real Estate Value Characteristics Physical Characteristics Property-Specific Factors Affecting Real Estate Value Economic Factors Affecting Real Estate Value…
Finance Instruments
Outline Finance Instruments Promissory Notes Negotiable Instruments Security Instruments Trust Deeds Mortgages Judicial Foreclosure Procedure Typical Clauses in Finance Instruments Acceleration Clause Alienation Clause Defeasance Clause Partial Release, Satisfaction, or Conveyance Clause Prepayment Clause Subordination Clause Other Mortgage Clauses and…
Ethical and Legal Considerations
Outline Ethical and Legal Considerations National Association of Mortgage Brokers Code of Ethics Ethics in Advertising Discrimination Protected Classes Prohibited Practices Other Types of Discrimination Disclosure and Privacy Truth in Lending Act (Regulation Z) TRID Disclosures Learning Objectives …
Mortgage Fraud and Predatory Lending
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…