School of Mortgage Servicing

Public Course Delivery Method: Instructor-Guided Online Course
Duration of Course: 8 2-hour webinars offered over a period of  weeks

Upcoming Offerings

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

The course also addresses principles and fundamentals for success, including strategies for building a servicing portfolio, building a customer base, successful vendor selection and management, and developing company policies and procedures. Regulatory requirements and the National Servicing Standards are also discussed.


  • Servicing Principles
  • Escrow Administration
  • Cash Management
  • Building a Servicing Portfolio
  • Investor Administration
  • Vendor Selection and Management
  • Bankruptcy
  • Foreclosure
  • REO
  • Quality Control
  • NSS & Regulatory Compliance
  • Policies and Procedures
  • Financial Management
  • Loss Mitigations
  • Current Issues

Click to view a detailed course outline.

Course Format

The course takes place during two consecutive weeks and is presented in a live instructor led online format, all from the comfort of your own desk. The course includes live webinars which will allow for participant interaction with the facilitator and other industry experts. Course activities also include readings, session quizzes, and a final exam. Students who successfully complete the course will be issued a certificate of completion for their training transcript. 

Students who successfully complete the course requirements will receive a certificate of completion for employee training transcript purposes.

Learning Objectives
Upon completion of the course, students will:

  • 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- the servicing portfolio
  • Assess financial, operational and natural disaster risks to the servicing organization and methods of mitigating those risks
  • Better understand the CFPB focus on selection and management of vendors, especially those who interact with your clients
  • Understand the critical role that effective quality control measures and regulatory compliance play in servicing
  • 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 for servicing
  • Discuss the current regulatory environment and how the implementation of the new national servicing standards and the CFPB requirements has impacted servicing

Course Instructor

Pat Taylor recently retired as President of Aurora Financial Group, Inc., in Marlton, NJ, after successfully positioning the company and the MSR portfolio for a successful sale. As Managing Director of New Directions Consulting Services, today Pat is focusing on working with lending institutions who are interested in changing their business model from traditional production to include building servicing portfolios, acquiring MSR assets, and creating additional streams of revenue. Additional instructors and subject matter experts will present on the various topics to provide further insights.

Target Audience

  • The School of Mortgage Servicing is designed for servicing staff, front line management, risk managers, analysts, auditors, quality control and compliance personnel.
  • This course is ideal for personnel new to servicing or with 1-4 years of servicing experience.

Additional Course Information

  • The weighted average of the session quizzes and final exam will result in the final grade.
  • Successful completion of this event will earn the participant 5 points toward MBA's Certified Mortgage Banker (CMB) Designation.

Upcoming Public Offerings

View the MBA Education Calendar for upcoming offerings.

Residential Certified Mortgage Servicer (CMS) Designation

The Residential Certified Mortgage Servicer (CMS) Specialist Designation recognizes an individual's superior knowledge and experience in servicing practices, theories and applications. This specialist designation, offered exclusively by MBA Education, establishes a high standard of training for servicing professionals.