Continuing Education Webinar

1 Hour SAFE Elective: Acceptable Sources of Funds (Webinar)

About this Course

Each loan program has different requirements related to sources of funds that may be used by borrowers to close a transaction. Often borrowers need advice from their mortgage loan originator when discussing additional assets they can use to cover the cost to close on a home loan. This course will review the most common sources of funds for down payment, closing costs, and reserve funds. This course satisfies one hour of elective education for loan originators.
SKU 4303US20200G00
Certificate of Completion

What You'll Learn

  • Sources a borrower may and may not use when purchasing a home
  • The usefulness of knowing FNMA, FHLMC and FHA asset rules
  • Terms associated with acceptable sources of funds
  • Situations in which collateralized funds may be used
  • Implications of using proceeds from the sale of real estate
  • Other sources of funds
  • Rules related to the use of interested party contributions, as well as liquid and non-liquid assets

How it Works

This course is delivered via a live feed of an instructor presenting course material and is designed to allow the student to communicate in real time with the instructor as well as fellow students.

All information and material for your NMLS approved live webinar course will be sent to you one business day before your scheduled start day. The information sent to you will include step-by-step instructions for how to register for your webinar, as well as a syllabus providing a brief outline of your course and background information on your instructor. You must be present and attentive for the full length of the webinar. If you are unable to complete any section of the class, you will be required to reschedule. You will be required to check in at random points during the course to confirm attendance. Any missed check-in will prevent you from receiving credit, and you will be required to reschedule. Before you are able to receive credit, you must also sign your Rules of Conduct document (ROC), which will be made available to you before your scheduled start time.


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