RC_RC_LP_201.2 Fair Lending During Inquiries

1-5 Education Intermediate Regulatory Compliance, Law, & Fraud Residential Self-Study Web-Based Courses
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Option Price
Member $50.00
Non-Member $100.00

As an employee of a mortgage banking firm, mortgage brokerage firm or lending institution, you will be contacted by existing or potential customers regarding loan services and general lending information. Often the inquiries are for rate information from "rate shopping" consumers. At other times the calls will be for the purpose of applying for a mortgage loan.

Fair Lending During Inquiries provides fair lending guidance for handling consumer loan inquiries. The course begins with a look at fair lending for both conventional and community lending products. Next, the course covers fair lending in during prequalification and preapproval. From there, fair lending implications for information gathering (conducting the interview, obtaining the credit report, completing calculations, and determining required income) is discussed. Finally, the course addresses fair lending implications for taking an application, addressing best practices around co-borrowers and using titles, what is permissible to ask an applicant, and completing the final sections of the loan application.

This is a single-family/residential course.

  • Product Inquiries
  • Prequalification and Pre-Approval
  • Information Gathering
  • Application

Seat time approximately 30 mins.

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