Continuing Education Classroom

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

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 4303US20200B00
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 in a face to face format in which the student and instructor will occupy and interact in the same physical location.

All materials for your NMLS-approved Live CE Courses will be handed to you on the scheduled day of class. Materials will include textbook(s), assessment(s), syllabi, Rules of Conduct (ROC) and a survey. At the beginning of class you will need to provide a valid photo ID during the time of registration in order to attend class. For all Live CE courses, you must be present and attentive for the full length of class. If you are unable to complete any section of the class, you will be required to reschedule. 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 initial on the roster that you have read and understand the Rules of Conduct Document (ROC), which will be made available to you when you arrive to the class.


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