Continuing Education Online Self-Paced Video

1 Hour SAFE Elective: Acceptable Sources of Funds Video CE (OSP)

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 4303US20265A00
  • 24/7 access to your course online
  • 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 is an online self-paced course that allows you to study the course material independently and at your convenience. Access to a computer with internet access is required. Please note this course is only supported for laptop or desktop computers, as NMLS requirements prohibit the consumption of licensing training on mobile devices, such as cell phones or tablets.


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