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We understand our clients have unique business requirements, so we created flexible training packages to best meet the needs of your financial institution.

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  1. [SS LO] Ability to Repay and Qualified Mortgages

    The Ability to Repay Rule and the Qualified Mortgage Rule have greatly altered the standards by which many mortgage loan transactions are conducted. The primary goal of these rules is to enhance and ensure consumer protection in the mortgage industry by establishing guidelines for what constitutes a safe mortgage loan transaction. It is important for mortgage professionals to be familiar with these standards, to ensure compliance with the law and the continuation of a sound, safe mortgage market.

    This course will review the Ability to Repay Rule and the Qualified Mortgage Rule and their influence on mortgage loan transactions. In addition, the concept and importance of tangible net benefit will be discussed.

    10 Minutes

    Series: Mortgage Lending

    Course Type: Online Self-Paced

  2. [SS LO] Adjustable-Rate Mortgage Loans

    Adjustable-rate mortgages are a nontraditional mortgage product available for qualified borrowers. These loans come in several forms, and allow certain homeowners to take advantage of interest rate changes to save money. Adjustable-rate mortgages may also be qualified mortgages.

    This course will review adjustable-rate mortgages types, common features, and information about the index and margin, as well as details of how the Qualified Mortgage Rule applies to calculating monthly payments.

    15 Minutes

    Series: Mortgage Lending

    Course Type: Online Self-Paced

  3. [SS LO] Analyzing Borrower Qualifications

    The process of ensuring an applicant is qualified for a loan begins with analyzing the borrower's assets and liabilities, income, credit, and other characteristics related to his or her financial condition. Various calculations may need to be performed, specifically those related to the potential borrower's income, which will vary depending upon whether the applicant is self-employed or a salaried, hourly, or commissioned employee.

    This course provides an overview of the analysis performed in order to determine whether a loan applicant is fit for a loan, which includes a review of income, assets, and liabilities. This course will also review income calculations, including examples.

    20 Minutes

    Series: Mortgage Lending

    Course Type: Online Self-Paced

  4. [SS LO] Appraisals

    Because the collateral for a mortgage loan is the subject property, the appraised value of the property is an important consideration in loan approval. The lender must have a high level of confidence in the documentation presented by the appraiser. It is essential for appraisals to be accurate, and overvaluation is a significant problem in the industry.

    This course provides an overview of the appraisal process, including a look at the Uniform Residential Appraisal Report and the various approaches used by appraisers in evaluating property. In addition, this course briefly explores additional appraisal requirements for higher-priced mortgage loans.

    20 Minutes

    Series: Mortgage Lending

    Course Type: Online Self-Paced

  5. [SS LO] Borrower Credit Qualifications

    The process of ensuring an applicant is qualified for a loan begins with analyzing the borrower's assets and liabilities, income, credit, and other characteristics related to his/her financial condition. Essential to assessing a loan applicant's suitability for a loan is an examination of his/her credit report.

    This course provides an overview of how borrower credit is analyzed, including detailed information relating to the credit report.

    15 Minutes

    Series: Mortgage Lending

    Course Type: Online Self-Paced

  6. [SS Gen] Guidances

    The Interagency Guidance on Nontraditional Mortgage Product Risks and the Statement on Subprime Mortgage Lending were developed by the federal banking regulatory agencies in response to the decline of the mortgage market. While these guidances did not have the effect of law, they were vital to re-establishing common-sense lending practices. The standards outlined in the guidances have now been codified in new and revised mortgage laws and regulations aimed at ensuring responsible lending practices.

    This course provides an overview of the guidances, including the reasoning behind their issuance and the recommendations contained within each. This course will also discuss the current and future relevance of the guidances.

    15 Minutes

    Series: Mortgage Lending

    Course Type: Online Self-Paced

  7. [SS LO] Completing the Loan Application

    The Uniform Residential Loan Application (Form 1003) is the standard form used by loan applicants applying for a mortgage. Applicants must present documentation to show the veracity of the information provided in the application. Both loan applicants and those assisting applicants in completion of the 1003, such as mortgage lenders, brokers, and loan originators, have legal and ethical responsibilities. The 1003 is a fairly extensive document and is used to compile a broad range of personal information, so understanding each section of the form is vital.

    This course provides an overview of each section of the Uniform Residential Loan Application, including graphics to enhance understanding. This course will also discuss the documentation required to support information disclosed on the application.

    30 Minutes

    Series: Mortgage Lending

    Course Type: Online Self-Paced

  8. [SS Gen] High-Cost Mortgage Loans

    High-cost mortgage loans are a category of loans identified and protected under the federal Home Ownership and Equity Protection Act (HOEPA).

    This course will review the features of high-cost mortgage loans, including how they are identified, special disclosure requirements, prohibited practices, and more.

    20 Minutes

    Series: Mortgage Lending

    Course Type: Online Self-Paced

  9. [SS LO] Disclosures

    Providing disclosures to consumers is essential in ensuring they stay informed throughout the loan process. Some disclosures are intended to educate consumers, particularly when risky lending terms are involved, while others are meant to inform consumers about specific information regarding the loan they have already obtained or the loan they are about to obtain. Regardless of their intention, disclosures are closely regulated by state and federal law, and those mortgage professionals that do not adhere to disclosure requirements are likely to face enforcement action.

    This course provides an overview of disclosures required throughout the loan process, including those disclosures intended to inform consumers about certain information related to their loan, as well as disclosures intended to inform consumers of certain rights.

    20 Minutes

    Series: Mortgage Lending

    Course Type: Online Self-Paced

  10. [SS Gen] Higher-Priced Mortgage Loans

    Higher-priced mortgage loans are a category of loans identified according to standards set forth under the federal Higher-Priced Mortgage Loan Rule (HPML Rule). The Rule imposes requirements and prohibitions for these mortgage loans.

    This course will review thresholds for identifying HPMLs, requirements for origination, appraisal standards, prohibitions, and more.

    20 Minutes

    Series: Mortgage Lending

    Course Type: Online Self-Paced