School of Mortgage Servicing

MBA Education's School of Mortgage Servicing (SOMS) is a hands-on instructor-guided online course designed to present an overview of the basic servicing functions and the potential compliance risks of not applying appropriate processes. Attendees learn about the important correlations and interconnectivity between business units within the servicing organization and participate real life examples of issues that servicers are facing today.

Set yourself up for success by learning strategies for building a servicing portfolio and customer base, selecting and managing the right vendors and developing company policies and procedures. Regulatory requirements and the National Servicing Standards.

Upon completion of the course, students will be able to:

  • Describe the servicer's important role in mortgage banking
  • Describe key concepts and principles related to escrow management and cash management
  • Understanding the importance of building and maintaining a performing asset
  • Assess financial, operational and natural disaster risks and methods of mitigating those risks
  • Better understand the CFPB focus on selection and management of vendors
  • Understand effective quality control measures and regulatory compliance
  • Identify the functional areas and the role of the servicer in default management and risk mitigation
  • Discuss and report on quality control and regulatory compliance measures
  • Describe strategies for the development and deployment of effective processes and procedures
  • Discuss the current regulatory environment and how the implementation of the new national servicing standards and the CFPB requirements has impacted servicing

Upcoming Offerings

The Details

This course is presented completely virtually, in a blend of self-study and instructor-guided online learning. The course includes a series of live webinars, presented through Adobe Connect, which allow for participant interaction with the instructor and each other. Course materials and final exam are available through TopClass.

Course Level: Entry Level
Course Delivery Method: Online Course
Duration of Online Course: Two hours a day, four days a week for two weeks
Elements: Quizzes, Live Polling, Final Exam

Who Should Attend

SOMS is designed for:

  • Servicing staff
  • Front line management
  • Risk managers
  • Analysts and Auditors
  • Quality control and compliance personnel

Get More with Education Advantage

Developed by MBA Education, Education Advantage is an annual subscription-based training solution that provides you with access to our robust learning portfolio specifically developed for servicing professionals.

For one low annual price, you have unlimited access to our online self-study library, discounts on designations, two seats in specific online courses or the option to completely customize your curriculum. Contact Jeff Schummer today to learn more.