School of Mortgage Banking I
SOMB I emphasizes the interrelated roles of the functions within a residential mortgage banking firm and the relationships of the various institutions and agencies throughout the real estate finance industry. This course provides a foundation in residential loan production, secondary marketing, warehouse lending and servicing. It also presents an overview of associated disciplines essential to a complete understanding of mortgage banking, including ethics, regulatory compliance, real estate law, loan products, quality assurance, quality control and fraud detection.
Upcoming School of Mortgage Banking I Courses
CMB Certification Credit
Upon successful completion of this course, you will earn 15 points toward your Certified Mortgage Banker (CMB) designation.
AMP Designation Credit
Professionals who complete all three SOMB courses will receive their Accredited Mortgage Professional (AMP) designation.
Course Level: Entry Level
Course Delivery Method: Classroom or Online Course
Duration of Classroom Course: Four consecutive days
Duration of Classroom Course: Four days a week for four consecutive weeks
Elements: Practice Activities, Case Study, Final Exam
Completing Course I Successfully
Credit for SOMB I is earned when you have attended all hours of classroom training and passed the comprehensive examination given at the end of the course.
Need to retake the course?
To pass this course, you must achieve a score of 75% or greater on the online final exam. You are given three attempts to take the exam. If you fail the exam after the second attempt, you may retake the exam for a $100 fee. Students who have failed to attain a 75% after the third attempt will be required to retake the SOMB course for the full MBA fee.
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