School of Loan Origination

Public Course Delivery Method: Instructor-Guided Online Course
Duration of Course: 4 weeks, Time Varies

About the Course

MBA Education's School of Loan Origination (SOLO) is a four-week instructor-guided online course designed for mortgage originators who have recently passed the NMLS pre-licensing course or have 3-12 months employment experience as a mortgage loan originator (MLO).

The course provides an in-depth working knowledge of how to originate residential mortgage loans. It begins with a historical perspective of how past practices led us to the current environment. It then teaches competencies on how to originate compliant and quality-based mortgage loans by focusing on minimizing risk of repurchases and reducing the number of "touches" on the file.

Topics

  • History of Mortgage Lending
  • The Role of the Mortgage Loan Originator
  • Taking a Complete 1003
  • Originating a Compliant 1003 - the Laws
  • Evaluating the 1003 - Loan Options
  • Analyzing Credit Reports
  • Case Study and Homework Review
  • Supporting Documentation
  • Tax Returns and Qualifying Income
  • Nontraditional Mortgage Products
  • Pricing and Rate Locks
  • Packaging Mortgage Transactions
  • Marketing in a Purchase Environment

Click to view a detailed course outline.

Course Format

The course is presented in a blend of self-study and instructor-guided learning, all from the comfort of your own desk. The course includes live two-hour webinars on Mondays, Wednesdays, and Thursdays during four consecutive weeks. The webinars encourage participant interaction with the instructor and other industry experts. Course activities also include readings, homework activities, virtual field trips, a case study, quizzes, and online discussions. The course concludes with an online final exam.

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:

  • Gain perspective on the overall challenges facing mortgage origination businesses.
  • Distinguish between the roles of mortgage originators, processors and underwriters.
  • Acquire knowledge of how to disclose laws and regulations that protect consumers.
  • Learn how to take quality mortgage applications, evaluate credit, and package mortgage loans.
  • Determine advantages and disadvantages of different mortgage products.
  • Learn how to develop a purchase based business model.

Course Instructor

The course instructor is Debra Killian, a 20-year veteran who is still actively originating mortgage loans. Deb is an NMLS State Licensed Mortgage Loan Originator and Certified Residential Mortgage Specialist (CRMS) with over 35 years of financial, banking, accounting, and business experience.

Target Audience

SOLO is designed for new and aspiring MLOs, MLOs with 0 - 3 years of experience, MLO assistants looking to advance their career and processors considering a move to a sales position. 
Others who would benefit from this course include:

  • Loan Officers seeking to improve core competencies.
  • Processors, Underwriters and Closers interested in foundational concepts in loan origination.
  • MLO assistants looking to advance their career.

Graduating participants will earn a certificate of completion.

Additional Course Information

  • There will be 3-5 hours homework per week in addition to class time.
  • Successful completion of this event will earn the participant 15 points toward MBA's Certified Mortgage Banker (CMB) Designation.

Looking for NMLS pre-licensing training for your MLOs? Visit our NMLS Training page.