RC_LA_CR_200.2 Loan Administration Concepts for CSRs
Member Price: $49.00
Nonmember Price: $79.00
Product Code: DL2-011143-WC-WPurchase
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 secondary marketing create the loan servicing portfolio. The mortgage banker's loan servicing portfolio is its "storehouse of value," a salable asset that produces a regular, long-term stream of income. Loan administration is the "caretaker" of this asset, which typically is the mortgage banker's single greatest source of net revenues.
Though the different functions involved in loan administration are divided into similar work categories, they overlap and are reliant upon one another. There are different names given to these functions, as well as different organizational structures linking them together. The functions are generally categorized into three primary groups: accounting, customer service, and asset preservation. It is important to be familiar with the role all of the groups play.
- Loan Administration Functions
- Loan Administration Objectives
Seat time approximately one (1) hour.