RC_LA_CR_200.1 Mortgage Banking Concepts for Customer Service Representatives
MBA Member Price: $49.00
Nonmember Price: $79.00Purchase
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 (servicing) operation. To understand your role as a customer service representative (CSR), you need to understand the role you and your company play within the entire mortgage banking process. This includes such things as an understanding of the various types of loans and loan financing options. By understanding the basics of mortgage banking, you will be in a better position to help your customers.
Mortgage Banking Concepts for CSRs provides an overview of the mortgage lending process including loan production and funding, secondary marketing, mortgage investors, and loan administration. From there it reviews the major loan programs, agency loans, conventional loans, loan-to-value ratios, and conforming/nonconforming loans. Finally, the course looks at financing options, what is included in a typical mortgage payment, common financing options, loan terms, amortization types, and types of financing transactions.
- The Mortgage Lending Process
- Major Loan Programs
- Financing Options
Seat time approximately one (1) hour.