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  • MISMO Fundamentals Self Study Web-Based Course

    MISMO Fundamentals Self Study Instructor-Guided Course Please scroll down to read important discount information for MISMO members and government employees. This self study course is designed for business and technology professionals who are currently (or who may soon be) involved in the considera

  • Mortgage Loan Processor Onboarding Package

    MBA Education is pleased to offer a comprehensive training package for newly hired mortgage loan processors. This package, comprised of 18 web-based self-study courses and roughly 30 hours of training, will provide students the foundational knowledge they need to get started in their new roles. Du

  • RC_GO_F_200.4 Mortgage Loan Fraud Best Practices & Resources

    This is a single-family/residential course. In order to effectively deter, uncover, and minimize losses associated with mortgage fraud, lenders should have a comprehensive fraud detection and deterrence plan in place that covers all aspects of the production cycle (origination, processing, underwri

  • RC_GO_F_200.2 Mortgage Loan Fraud for Profit

    This is a single-family/residential course. Fraud for profit schemes have become quite complex. Fraud perpetrators have developed expertise in taking a variation from one type of scheme and adding it to another. Mortgage Loan Fraud for Profit provides an overview of the most prevalent types of f

  • RC_GO_F_200.1 Mortgage Loan Fraud Overview & Current Trends

    This is a single-family/residential course. Mortgage fraud is defined by the industry as "The intentional misstatement, misrepresentation, or omission by an applicant or other interested party of information that is relied on by a lender or underwriter in approving or purchasing a mortgage loan."

  • RC_GO_F_200.3 Mortgage Loan-Level Misrepresentation

    This is a single-family/residential course. Whether a loan applicant decides to commit fraud for property or for profit, the majority of misrepresentations can be tracked back to documentation found in the individual loan file. Misrepresentations may include fabricated or altered employment, incom

  • RC_GO_100.3 Funding, Warehousing, Shipping and QC Basics

    This is a single-family/residential course. The Funding, Warehousing, Shipping, and QC Basics course examines the funding, warehousing, shipping and delivery, and quality control processes in mortgage lending. It begins by describing the various financing methods available, sources of the funds tha

  • RC_GO_100.1 Introduction to Mortgage Banking

    This is a single-family/residential course. Generally speaking, Americans cannot afford to pay cash to purchase a new home. To facilitate homeownership, and its associated economic and societal benefits, long-term mortgage loans were created. A mortgage is a security interest in a property; it is g

  • RC_GO_100.5 Loan Administration Basics

    This is a single-family/residential course. Mortgage bankers generate substantial income by servicing loans on behalf of investors. In this course, we will learn about the various functions of servicing and how loan servicing can be a valuable revenue-generating asset. We will also learn about the

  • RC_GO_100.2 Loan Production Basics

    This is a single-family/residential course. Mortgage banking is a career with good income potential and unlimited opportunities for growth. No matter what segment of the business you are currently in, your prospects will be enhanced by learning about the big picture and other functional areas of th

  • RC_GO_100.4 Secondary Marketing Basics

    This is a single-family/residential course. In the primary mortgage market, interactions are between the lender and the borrower. Conversely, in the secondary market, the interaction is between the lender and the investor that buys loans and servicing rights from the lender. The secondary market p

  • RC_LA_CM_200.1 Cash Flow

    This is a single-family/residential course. MBA Education is dedicated to accommodating today's busy professional by offering short, accessible learning programs that can be completed in less than an hour. Our new module library contains excerpts taken from more in-depth courses. This module is an

  • RC_LA_CM_201.3 Cash Processing

    This is a single-family/residential course. Every month the servicer receives mortgage payments that are calculated based on the terms in the mortgage note. The payments may be tendered electronically or in the form of paper checks. The funds provided by a mortgagor's payment are then posted to the

  • RC_LA_CM_200.3 Electronic Payments

    This is a single-family/residential course. One of the most widely automated activities in mortgage payment processing is electronic payment drafting, in which a mortgagor allows a servicer to draft his or her monthly payment from a checking/savings account. The use of automated payment drafting pr

  • RC_LA_CM_200.2 Exceptions Processing

    This is a single-family/residential course. In an ideal mortgage payment situation, funds from a payment are applied directly to the different payment elements such as the principal, interest, escrow, and insurance accounts, and the whole process is very routine. Often, however, there are additiona

  • RC_LA_CM_201.2 Payment Automation

    This is a single-family/residential course. In the past, making and posting monthly mortgage loan payments was a time-consuming process. Each month the borrower had to remember to write a check, put it in a special envelope, add a postage stamp, and mail the envelope in time to meet the all-importa

  • RC_LA_CM_201.1 Types of Cash Movement

    This is a single-family/residential course. The intake of mortgage loan payments by the servicer marks the beginning of the cashiering department's role in mortgage servicing. The cash received must be divided and applied to the proper accounts in a timely manner. The how, when, and where of cash m

  • RC_LA_CR_300.3 Accounting for CSRs

    This is a single-family/residential course. Borrowers often call with a question about their payments, fees, or late charges. Many times these questions arise after they receive their year-end and Form 1098 statements. To answer these questions, you may need information about the following: the bo

  • RC_LA_CR_300.1 Customer Service Basics

    This is a single-family/residential course. Customer Service Basics describes the important role you play within your company. It also outlines the methods servicers use to interact with their customers. Topics: Quality Customer Service Characteristics of Successful CSRs Common Communication Metho

  • RC_LA_CR_300.4 Escrow Operations for CSRs

    This is a single-family/residential course. Mortgages are generally for terms of 15 to 30 years in length. They are amortized through monthly payments of principal and interest. Often included in the mortgage payment are escrow fees. The monthly collection of amounts for taxes, insurance, and othe

  • RC_LA_CR_300.2 Laws & Regulations for CSRs

    This is a single-family/residential course. MBA Education is dedicated to accommodating today's busy professional by offering short, accessible learning programs that can be completed in less than an hour. Content in this course is derived from Loan Administration Essentials for Customer Service Re

  • RC_LA_CR_200.2 Loan Administration Concepts for CSRs

    This is a single-family/residential course. Loan administration is a large, complex array of functions that comprises one of the three primary disciplines necessary to the business of mortgage banking: loan production, secondary marketing, and loan administration. Together, loan production and seco

  • RC_LA_CR_200.1 Mortgage Banking Concepts for CSRs

    This is a single-family/residential course. The loan administration function begins immediately after a mortgage loan has been closed. Loan administration processes are a vital part of any mortgage banking company, since a large part of a company's net income is derived from the loan administration

  • RC_LA_CR_300.5 Servicing Transfers for CSRs

    This is a single-family/residential course. The rights to servicing loans are often transferred from one mortgage banking company to another. Servicing Transfers for CSRs reviews the servicing transfer process and examines some of the major problems that must be avoided. You will learn why servicin

  • RC_LA_DA_302.1 Bankruptcy Basics

    This is a single-family/residential course. Individuals or businesses that are financially unable to repay accumulated debt may seek to obtain a reasonable resolution through the bankruptcy process. Bankruptcy is a legal process that provides a possible release from specific financial obligations,

  • RC_LA_DA_300.2 Collection Tools for Loan Counselors

    This is a single-family/residential course. Proactive outreach by loan servicers can help reduce the number of delinquent loans and ensure successful loan performance. There are a variety of cost-effective collection tools available to loan servicers, each with pros and cons. Collections loan cou

  • RC_LA_DA_303.3 Conventional Loan Recovery: Claims

    This is a single-family/residential course. The best outcome of a foreclosure for a servicer is a third-party purchasing the property at the foreclosure sale. This eliminates or reduces losses by the investor and the servicer. At times, however, the sale of the property does not cover the costs inc

  • RC_LA_DA_303.4 Conventional Loan Recovery: Corporate Advance

    This is a single-family/residential course. Servicers incur significant expenses during the course of handling a foreclosure, including legal fees, appraisal fees, taxes, maintenance costs, and even advertising costs. These expenses add up quickly. In most instances, a portion of these foreclosure

  • RC_LA_DA_303.1 Conventional Loan Recovery: Essentials

    This is a single-family/residential course. MBA Education is dedicated to accommodating today's busy professional by offering short, accessible learning programs that can be completed in less than an hour. Content in this course is derived from Conventional Loan Recovery, which is no longer availab

  • RC_LA_DA_303.2 Conventional Loan Recovery: Foreclosure

    This is a single-family/residential course. For a homeowner with a mortgage, foreclosure can be a terrifying situation, like racing downhill on a runaway train, rushing through default and foreclosure and ending up with total loss of the property. There are many situations that can lead to forecl

  • RC_LA_DA_200.2 Default Administration Functional Areas

    This is a single-family/residential course. Unfortunately, some borrowers will experience difficulty meeting their payment obligations. In extreme instances, this may lead to a foreclosure, which generally results in a loss for all parties: borrower, lender/investor, and servicer. Default and forec

  • RC_LA_DA_301.5 GSE & Agency Loss Mitigation Options

    This is a single-family/residential course. Fannie Mae, Freddie Mac, the Federal Housing Administration (FHA) under the authority of The Department of Housing and Urban Development (HUD), and the Veterans Administration (VA) are the key players in the US mortgage market. Fannie Mae and Freddie Mac

  • RC_LA_DA_205.1 Introduction to REO

    This is a single-family/residential course. Before a property becomes real estate owned (REO), there are a number of potential loss mitigation solutions that should be explored to assist a distressed homeowner to retain ownership while minimizing loss for the mortgage servicer and investor. Unfortu

  • RC_LA_DA_301.1 Loss Mitigation Concepts

    This is a single-family/residential course. The verb "mitigate" describes the action of causing something to become less harsh, hostile, severe, or painful. Loss mitigation for mortgage loans can be described as the reduction or elimination of credit losses (pain) to lenders, servicers, investors,

  • RC_LA_DA_301.3 Loss Mitigation Options

    This is a single-family/residential module. MBA Education is dedicated to accommodating today's busy professional by offering short, accessible learning programs that can be completed in less than an hour. Our new module library contain excerpts taken from more in-depth courses. This module is an e

  • RC_LA_DA_301.2 Loss Mitigation Processes

    This is a single-family/residential course. MBA Education is dedicated to accommodating today's busy professional by offering short, accessible learning programs that can be completed in less than an hour. Our new module library contain excerpts taken from more in-depth courses. This module is an e

  • RC_LA_DA_300.1 Managing Delinquency for Loan Counselors

    This is a single-family/residential course. Managing Delinquency for Loan Counselors introduces the role of the collections loan counselor. It provides the foundational knowledge and context necessary to understand the specifics of the collection loan counselor's responsibilities. The course beg

  • RC_LA_DA_301.4 Math for Loss Mitigation

    This is a single-family/residential course. Many of the loan counselor's decisions are based on financial calculations. These calculations answer questions about the borrower's ability and likelihood to continue making monthly payments, while providing direction as to the most appropriate solution.

  • RC_LA_DA_300.4 Meeting Collection Goals for Loan Counselors

    This is a single-family/residential course. Meeting Collection Goals for Loan Counselors addresses how to meet collections goals by determining the cause of delinquent payments and obtaining realistic promises to pay. The course provides an overview of common reasons for delinquency and explores

  • RC_LA_DA_302.2 Processing the Bankruptcy Loan

    This is a single-family/residential course. Bankruptcy cases generally last between three months and five years. Accurate and timely management of bankruptcy cases during this time is critical to the mortgage servicer. Missed filing dates or incorrect reporting can result in lost time and revenue

  • RC_LA_DA_304.2 REO Acquisition & Boarding

    This is a single-family/residential course. REO management, as a servicing function, begins with the acquisition and boarding of REO assets. The sourcing and acquisition of REO assets is typically handled by a separate department or team of people who will subsequently communicate with the boarding

  • RC_LA_DA_304.4 REO Marketing & Sale

    This is a single-family/residential course. REO Marketing and Sale explores the marketing and sale phase of an REO property. It addresses the key components of an offer and their overall effect on the sale of REO properties. Some of the most important components in the closing process are also cove

  • RC_LA_DA_304.3 REO Pre-Marketing

    This is a single-family/residential course. Assessing a property’s value is a critical task, as all future strategy decisions will be driven by the current value of the asset. For this purpose, REO managers rely on the two professionals best suited to evaluate a new property: the appraiser and the

  • RC_LA_DA_300.3 Telephone Skills for Loan Counselors

    This is a single-family/residential course. A loan counselor must possess strong communication skills in order to handle the sensitive and sometimes tense conversations that are encountered each day. Most of the communication with the borrower is done by telephone. Communicating on the telephone ca

  • RC_LA_DA_200.1 Working in Default Administration

    This is a single-family/residential module. Working in Default Administration provides a high-level overview of concepts related to working in the default administration group within a typical mortgage servicing operation. It begins by describing the role of servicing within the lending process and

  • RC_LA_EA_300.1 Escrow Analysis

    This is a single-family/residential course. MBA Education is dedicated to accommodating today's busy professional by offering short, accessible learning programs that can be completed in less than an hour. Content in this course is derived from Escrow Essentials, which is no longer available for re

  • RC_LA_EA_300.5 Escrow for New & Transferred Loans

    This is a single-family/residential course. Escrow for New and Transferred Loans looks at escrow concerns when new loans are acquired or when loans are transferred. We will note the importance of establishing the correct monthly payment and initial deposit and how this is done. Next we'll exami

  • RC_LA_EA_300.3 Escrowing Mortgage Insurance

    This is a single-family/residential course. The three major components of most escrow accounts are property insurance, mortgage insurance, and real estate taxes. In this course, we will look at various types of mortgage insurance which protect mortgage lenders against loss in the event of default

  • RC_LA_EA_300.2 Escrowing Property & Flood Insurance

    This is a single-family/residential course. MBA Education is dedicated to accommodating today's busy professional by offering short, accessible learning programs that can be completed in less than an hour. Content in this course is derived from Escrow Essentials, which is no longer available for re

  • RC_LA_EA_300.4 Escrowing Real Estate Taxes

    This is a single-family/residential course. Escrowing Real Estate Taxes discusses real estate taxes and examine why and how they are administered through escrow accounts. We explore the risks associated with unpaid tax bills: the property can be sold at a tax sale and the lender can lose the secu

  • RC_LA_EA_200.1 Escrow in Loan Administration

    This is a single-family/residential course. Escrow in Loan Administration describes the escrow administration function within the loan administration. We'll begin with a look at the three major components of the lending cycle: loan production, secondary marketing, and loan administration. Loan adm

  • RC_LA_EA_301.6 Insurance Documents

    This is a single-family/residential course. Insurance providers issue documents related to each policy on a frequent basis, as well as documentation summarizing each transaction related to insuring a property. Associates within the insurance servicing team must become familiar with the various form

  • RC_LA_EA_301.5 Insurance Policies & Coverage

    This is a single-family/residential course. Insurance Policies and Coverage provides an overview of the various insurance policies that may be issued to provide insurance for properties. It explores the different types of coverages, costs, and application of the different policies, including their

  • RC_LA_EA_301.1 Insurance Servicing Foundations

    This is a single-family/residential course. Insurance Servicing Foundations presents the fundamentals of insurance servicing. It begins by providing context for the discussion of insurance in loan servicing. It defines insurance and explores the history of insurance. It then describes insurance und

  • RC_LA_EA_301.4 Processing Insurance Claims

    This is a single-family/residential course. Processing Insurance Claims describes what happens in the event of damage or destruction to an insured property and compares the obligations of the borrower, the servicer, and the insurance company in handling a loss. Next, it presents the different types

  • RC_LA_EA_301.2 Property Insurance Requirements

    This is a single-family/residential course. Property Insurance Requirements examines the general requirements for various types of property insurance, including the obligations of the borrower and lender. The course distinguishes between a deed of trust and a mortgage and describes how those differ

  • RC_LA_EA_200.2 The Escrow Department

    This is a single-family/residential course. The Escrow Department course examines the roles and responsibilities of the escrow department. We'll begin the course by noting that the obligations of the lender and borrower regarding escrow are defined in the security instrument and the note. We'll al

  • RC_LA_EA_301.3 The Insurance Department

    This is a single-family/residential course. The Insurance Department describes some of the keys to successful insurance servicing. It also examines the specific tasks performed by the insurance department. It then looks at the events that trigger exceptions in the process and explores the actions s

  • RC_LA_FM_301.1 Bank Reconciliation Concepts

    This is a single-family/residential course. Bank reconciliation is an essential step in confirming the accuracy of financial data among the various parties. A successful reconciliation ensures that the servicer's financial records correspond with the investor's records and the bank's records. Bank

  • RC_LA_FM_200.1 Financial Categories for Loan Administration

    This is a single-family/residential course. The role of the corporate accounting department is to provide an accurate description of a company's financial activities. Using financial statements (i.e., the balance sheet and income statement), the corporate accounting department paints a financial p

  • RC_LA_FM_300.1 Financial Statement Analysis

    This is a single-family/residential course. Financial Statement Analysis introduces the financial reconciliation and analysis of the balance sheet and the income statement. It begins by examining the reconciliation of various asset accounts: the principal balance account, accrued interest receivabl

  • RC_LA_FM_200.2 Government Financial Agencies

    This is a single-family/residential course. The corporate accounting department is responsible for ensuring that the company's financial activities are accurately reported in accordance with company and governmental agency guidelines. Government Financial Agencies reviews the various government ag

  • RC_LA_FM_301.2 Investor Requirements in Bank Reconciliation

    This is a single-family/residential course. Large agency investors — Fannie Mae, Freddie Mac, and Ginnie Mae — each have unique requirements for reconciling custodial accounts. Investor Requirements in Bank Reconciliation examines the special requirements and considerations for reconciling acco

  • RC_LA_FM_300.2 Mortgage Servicing Portfolio Valuation

    This is a single-family/residential course. Mortgage Servicing Portfolio Valuation provides a high-level overview of the process of mortgage servicing portfolio valuation. It begins with a look at how various loan characteristics affect the servicing value of a portfolio. Next, it discusses the fou

  • RC_LA_IR_200.1 Investor Reporting Concepts

    This is a single-family/residential course. Servicing a mortgage loan involves many functional areas, one of which is investor reporting. Investor Reporting Concepts begins with an introduction to investor reporting-related terms and the variety of investor-related activities that mortgage loan s

  • RC_LA_IR_200.2 Investor Reporting Requirements

    This is a single-family/residential course. Investor Reporting Requirements outlines reporting requirements of various investors, including Fannie Mae, Freddie Mac, Ginnie Mae, and others. Each investor has different guidelines that must be followed and failure to follow investor guidelines could

  • RC_LA_IR_300.2 Investor Reporting Requirements: Fannie Mae

    This is a single-family/residential course. MBA Education is dedicated to accommodating today's busy professional by offering short, accessible learning programs that can be completed in less than an hour. Content in this course is derived from Essentials of Investor Reporting, which is no longer a

  • RC_LA_IR_300.1 Investor Reporting Requirements: Freddie Mac

    This is a single-family/residential course. MBA Education is dedicated to accommodating today's busy professional by offering short, accessible learning programs that can be completed in less than an hour. Content in this course is derived from Essentials of Investor Reporting, which is no longer a

  • RC_LA_IR_300.3 Investor Reporting Requirements: Ginnie Mae

    This is a single-family/residential course. MBA Education is dedicated to accommodating today's busy professional by offering short, accessible learning programs that can be completed in less than an hour. Content in this course is derived from Essentials of Investor Reporting, which is no longer a

  • RC_LA_IR_300.4 Private Investor Reporting Requirements

    This is a single-family/residential course. The focus of Private Investor Reporting Requirements is on the private investor reporting and remitting guidelines. We will introduce you to new terms and specific data requirements for successful private investor reporting, which will include remitting a

  • RC_LA_100.2 Loan Administration Concepts

    This is a single-family/residential course. Loan administration is a critical component of the lending cycle since it contributes so heavily to the overall profitability of mortgage banking. This course takes a look at the critical concepts related to loan administration. Loan Administration Conce

  • RC_LA_100.4 Loan Administration Functions

    This is a single-family/residential module. Loan administration is made up of an array of different functions, divided into similar work categories, yet overlapping and reliant on one another. There are different names given to these functions, as well as different organization structures linking

  • RC_LA_100.3 Loan File Documents

    This is a single-family/residential module. The process of real estate lending results in collecting a number of documents used to create a mortgage loan. Most of these documents are associated with the origination and underwriting functions and are dictated by the standard processes imposed by sec

  • RC_LA_PLA_200.2 Lien Release Concepts

    This is a single-family/residential course. When a residential mortgage loan is granted, the property is pledged as security for the debt. This is done by publicly recording a lien on the property at the county recorder's office which a public record of the debt. When that lien is paid off, it mus

  • RC_LA_PLA_200.3 Mortgage Assumption Concepts

    This is a single-family/residential course. Mortgage Assumption Concepts focuses on defining assumptions, the advantages of assumptions, and the documentation necessary to complete an assumption. It will also explain the approval and closing process for an assumption loan. It begins with a look

  • RC_LA_PLA_200.1 Mortgage Payoff Concepts

    This is a single-family/residential course. Mortgage Payoff Concepts details the steps involved in the mortgage payoff process. It begins with an overview of the payoff process including the terms of the mortgage, the overall payoff process, and the Uniform Residential Mortgage Satisfaction Act.

  • RC_LA_100.1 Servicing in the Mortgage Lending Process

    This is a single-family/residential course. Servicing in the Mortgage Lending Process begins with an overview of the functions and players in mortgage lending, examining the role of servicing within the overall lending process. Next, it examines participants in the mortgage lending industry, lookin

  • RC_LA_SS_200.1 Introduction to Equity Products

    This is a single-family/residential course. Thanks to home equity loans and home equity lines of credit, many Americans have been able to unlock the wealth stored in their homes. The growth in popularity of these home equity products has brought about great changes for borrowers and servicers alike

  • RC_LA_SS_200.2 Servicing Implications of Equity Products

    This is a single-family/residential course. The servicing of home equity products experienced exceptional growth from 2000 to 2008. Production slowed dramatically in the wake of the financial crisis and is only now starting to recover. Many new regulations limit production in home equity loans and

  • RC_LA_SS_300.1 Special Loan Basics

    This is a single-family/residential course. MBA Education is dedicated to accommodating today's busy professional by offering short, accessible learning programs that can be completed in less than an hour. Content in this course is derived from Special Loan Administration I, which is no longer avai

  • RC_LA_SS_301.1 Special Loan Features

    This is a single-family/residential course. Special loan features offer prospective borrowers creative financing tools to modify various loan products. Special loan features include items such as different rate options and interest-only payment options. The terms of these loans are generally more c

  • RC_LA_SS_301.2 Special Loan Market

    This is a single-family/residential course. Special loan products offer alternatives to the traditional fixed-rate and adjustable-rate loans. Financial entities offer combination or hybrid loan products in order to stay competitive in the market. To accomplish this, lenders often create new loan p

  • RC_LA_SS_300.2 Special Loan Products

    This is a single-family/residential course. Homebuyers come to the mortgage market with many different financial circumstances and goals. Often a fixed-rate conventional loan is not the best choice for a specific situation. To meet the needs of as many potential mortgagors as possible, mortgage ban

  • RC_LA_ST_300.2 Investor Req. for Servicing Transfers

    This is a single-family/residential course. An investor is any person or institution that invests in mortgages or mortgage-backed securities. It should be standard procedure for all servicers, both buyers and sellers, to obtain and follow the investor's guidelines for each transfer. Timelines, form

  • RC_LA_ST_200.1 Servicing Transfers Concepts

    This is a single-family/residential course. Servicing, also known as loan administration, is the performance of the administrative duties associated with a loan from the time it closes until it is paid off. The right to service a loan is an important source of income for most mortgage lenders. The

  • RC_LA_ST_300.1 Servicing Transfers Process

    This is a single-family/residential course. Servicing transfers affect both the buyer and the seller. The seller is responsible for producing several notifications, preparing files for transfer to the buyer, and completing escrow-related functions. The buyer forms an acquisition team and may add st

  • RC_LP_O_200.3 Generating Purchase Business for MLOs

    This is a single-family/residential course. Generating Purchase Business for Mortgage Loan Originators (MLOs) provides mortgage loan originators with marketing strategies used to stimulate purchase money business. This course provides training on the various avenues for creating referrals and prov

  • RC_LP_P_200.5 File Review & Submission

    This is a single-family/residential course. Simply stated, loan processing is the gathering of documents that verify information provided on the loan application. This verified information allows the underwriter or automated underwriting system (AUS) to perform an accurate risk assessment. The subm

  • RC_LP_P_200.1 Processing Fundamentals

    This is a single-family/residential course. The loan production process begins when a prospective borrower completes a loan application. Once the application is complete, it is passed to the loan processor, whose job it is to verify the information on the application and gather the necessary docume

  • RC_LP_P_200.4 Property Appraisal for Processors

    This is a single-family/residential course. The purpose of the appraisal is to establish the current market value of the property and to determine if it is adequate collateral for the loan amount being requested. For this reason, the appraisal is perhaps the most important document in the loan pack

  • RC_LP_P_200.2 The Loan Application for Processors

    This is a single-family/residential course. One of the processor's key functions is to ensure that the loan application is complete and accurate. The loan application is the foundation both for documenting the loan file and for assessing the ability of the borrower to qualify for the proposed mortg

  • RC_LP_P_200.3 Verification & Supporting Documentation

    This is a single-family/residential course. Once the processor reviews the initial application and findings report, the process of verifying the information on the loan application begins. Verification is an important part of the loan application process. One of its purposes is to ensure that the

  • RC_LP_U_308.4 Acquisition Costs for Construction/Perm Loans

    This is a single-family/residential course. In Acquisition Costs for Construction/Perm Loans, we examine the process of calculating total acquisition costs on a construction loan and review Fannie Mae and Freddie Mac documentation criteria for allowable expenses. Topics: Qualifying Acquisition Cos

  • RC_LP_U_301.1 Analyzing the Appraisal

    This is a single-family/residential course. Appraisals are integral to the lending process because they ensure that the collateral pledged as security for the loan is adequate to the value of the loan. They ensure the collateral really does secure the mortgage obligation. Since inflated appraisals

  • RC_LP_U_307.3 Appraisal Issues: Beyond the Basics

    This is a single-family/residential course. MBA Education is dedicated to accommodating today's busy professional by offering short, accessible learning programs that can be completed in less than an hour. Our new module library contain excerpts taken from more in-depth courses. This module is an e

  • RC_LP_U_200.4 Asset Review in Residential Underwriting

    This is a single-family/residential course. MBA Education is dedicated to accommodating today's busy professional by offering short, accessible learning programs that can be completed in less than an hour. Content in this course is derived from Residential Underwriting Basics, which is no longer av

  • RC_LP_U_306.1 Business Structures for Self-Empl. Borrowers

    This is a single-family/residential course. Various sources indicate that the number of self-employed workers is increasing. Understanding the different business classifications and methods used to report income is key to deriving a stable monthly income figure for self-employed customers that pur

  • RC_LP_U_200.5 Collateral Review in Residential Underwriting

    This is a single-family/residential course. MBA Education is dedicated to accommodating today's busy professional by offering short, accessible learning programs that can be completed in less than an hour. Content in this course is derived from Residential Underwriting Basics, which is no longer av

  • RC_LP_U_200.3 Credit Review in Residential Underwriting

    This is a single-family/residential course. In addition to making certain that the credit score fits the product eligibility parameters, an underwriter needs to perform a thorough analysis of the credit report. Credit Review in Residential Underwriting walks through the steps of analyzing the cr

  • RC_LP_U_302.3 Credit Scores in Risk Assessment

    This is a single-family/residential course. Credit Scores in Risk Assessment explores the role credit scores play in determining the risk associated with a particular loan. It begins with a general look at risk assessment and the use of credit scores in the process. The course then discusses the p

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