RC_GO_100.3 Funding, Warehousing, Shipping, and Quality Control Basics
The Funding, Warehousing, Shipping, and Quality Control Basics course examines the funding, warehousing, shipping and delivery, and quality control (QC) processes in mortgage lending. It begins by describing the various financing methods available, sources of the funds that are lent, and types of funding. Next, the course looks at how and why most mortgage bankers use a warehouse line of credit to finance loans. This section discusses warehouse lines of credit, warehouse features, and the typical warehouse funding process.
From there, the course moves to the shipping and delivery functions of the mortgage lending process. This includes the Uniform Loan Delivery Dataset (ULDD), the six-step process for shipping and delivering a loan, as well as the importance of communication. Finally, it covers how and why lenders perform quality control checks including the process timeline, program elements, and information about mortgage fraud.
This is a single-family/residential course.
Seat time approximately 1.5 hours.