RC_LA_100.3 Loan File Documents

Member Price: $49.00

Nonmember Price: $79.00

Product Code: DL2-011061-WC-W

Purchase

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 secondary marketing investors.

Anyone working in loan administration should be familiar with the critical documents in the loan file and have a thorough understanding of its essential instruments. The documents in the loan file are the tools used to resolve any problems that may arise throughout the life of the loan, such as borrower default.

Loan File Documents closely examines the critical documents in a loan file, including the deed, the security instrument, and the promissory note. The course surveys the essential mortgage clauses and riders to the promissory note and security instrument and also studies the various insurance policies/certificates in the loan file, including those for title, hazard/homeowner, flood, and mortgage insurance.

Finally, the course ends with a consideration of other important documents found in the loan file such as the sales contract, loan application, good faith estimate, loan estimate, credit report, verifications, appraisal, survey, truth-in-lending statement, HUD-1 settlement statement, and the closing disclosure.

Topics:

  • Deed
  • Promissory Note
  • Security Instrument
  • Essential Mortgage Clauses
  • Riders to the Promissory Note and Security Instrument
  • Title Insurance Policy
  • Hazard or Homeowner Insurance Policy
  • Flood Insurance Policy
  • Mortgage Insurance Policy/Certificate
  • Other Loan File Documents

    Seat time approximately one (1) hour.

    Copyright 2018.

  • Notes

    This is a self-paced, self-study course. Enroll anytime and take up to 12 months to complete the course.

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