- Get daily sales advice and motivational tips for MLOs
- Browse a searchable knowledge center of frequently asked questions
- Receive 40% off continuing education and pre-licensing courses
Fast-track your Minnesota mortgage broker career path with online professional development courses for mortgage loan originators. Choose from a broad selection of interactive courses designed to help mortgage loan officers grow their knowledge and skill sets to thrive in their mortgage career.
Explore specific requirements and general rules you must follow to ensure the security of customer information.
Credit report analysis is one of the most basic functions any role in the loan manufacturing process will perform. Mortgage professionals that can read and interpret credit report data are able to clearly counsel borrowers on the status of their mortgage applications, determine actions needed to remediate potential concerns and collaborate with mortgage operations staff on the best course of action to resolve.
The mortgage closer performs a critical role in the loan manufacturing process. This course reviews the purpose of the mortgage closer role and the tasks they perform.
Any mortgage professional involved in a purchase transaction must understand the document that sets everything in motion – the purchase contract. This course will provide an overview of the purchase contract and what to watch for in order to most effectively serve clients.
Sections 6 through 9 provide important acknowledgements which help complete the application process. Mortgage professionals must understand the rules and their role and responsibility in making sure these sections are completed accurately and completely. This course will provide participants insights and guidance on these sections of the URLA.
Sections 4 and 5 provide important insights to the lender as it relates to the subject property and borrower finances. Mortgage professionals who understand why this information is important can assist borrowers in properly completing the application and understand any needed documentation to explain unique or specific circumstances. This course will provide participants insights and guidance on these sections of the URLA.
Sections 2 and 3 of the Uniform Residential Loan Application (URLA) contain borrower information that will be critical in determining overall creditworthiness. Mortgage professionals need to have a firm understanding of these sections so they can effectively counsel borrowers on how to complete them accurately at initial application to minimize the inefficiencies that can result. This course will provide participants insights and guidance on these sections of the URLA.
Complete and accurate mortgage applications reduce the amount of time it takes to originate a mortgage and can help build rapport with fellow mortgage staff members. This course introduces participants to Section 1 of the Uniform Residential Loan Application (URLA) and the importance of taking an accurate and complete application to reduce pain points later in the loan manufacturing process.
This course is designed to give a broad overview of how the mortgage industry approaches borrowers who are sole proprietors, including collection of income documents, as well as the calculation of income.
Accurately calculating borrower income is a key component of the qualification process. This course educates students on the collection and review of income documents for hourly or salaried borrowers, as well as some red flags to consider when analyzing these documents.
This course provides a working knowledge of federal flood insurance requirements.
This course provides knowledge of the Military Lending Act and its requirements for financial institutions.
This course is designed to keep mortgage professionals up to date with recent changes in the Uniform Residential Loan Application (URLA) and to take a close look at the statutory and regulatory requirements associated with its completion
Mortgage servicing plays an essential role in the mortgage lending process. Not only do servicers oversee routine servicing, ranging from payment processing, maintaining escrow accounts, and handling error resolution procedures, they also are involved with default servicing and the foreclosure process. This series focuses on regulatory requirements for mortgage servicers that are imperative to execute through policies and procedures.
This course provides an overview of the Americans with Disabilities Act (ADA), its purpose, and how its provisions are organized. This course will specifically focus on the requirements of Titles I and III of the ADA. Your financial institution must comply with the employment provisions of Title I and the public accommodations provisions of Title III presented in this course.
This course is intended to provide you with basic fair lending concepts as well as a general understanding of the fair lending laws’ requirements and the corresponding penalties in breaking these laws.
This course focuses on the fundamentals of the Servicemembers Civil Relief Act (SCRA) and the Military Lending Act (MLA) as they impact financial institutions. Although different in scope and specific application, both the SCRA and the MLA provide benefits and protections to members of the armed forces and impact financial institutions. This course will review the rights and protections afforded to servicemembers under these laws as they relate to financial institutions.
This course covers the regulations governing financial institutions under the SAFE Act, specifically the requirements of mortgage loan originators (MLOs) to register with a nationwide registry annually.
The Fair Debt Collection Practices Act (FDCPA) regulates how debt collection agencies can contact and communicate with consumers. This course discusses the guidelines and regulations set by the FDCPA.
This course explains the money laundering process and educates you about ways to prevent money laundering in your organization. The Bank Secrecy Act (BSA) helps the United States government combat money laundering and other illegal financial activity. Within the framework of the BSA, this course also discusses the key elements of an anti-money laundering (AML) compliance program, which is required for all financial institutions.
This professional development online course is a review of HOEPA and its corresponding regulations. Participants will learn the origins of subprime and predatory lending, review HOEPA and its implementing regulations, requirements, and prohibitions, and review the impact of HOEPA and new lending standards. Students will also explore high-cost home loan thresholds, homeownership counseling requirements, higher-priced mortgage loan standards, expanded prohibitions, and more.
This course addresses the Fair Credit Reporting Act (FCRA) requirements for providing, obtaining, and using consumer credit information
This course explains how the Fair Housing Act (FHA) fights discrimination in the residential real estate lending process. The course discusses the lending prohibitions and the advertising requirements under the FHA.
Successful loan originators need a solid grasp of the concepts and calculations required to present clear solutions for their customers. While using a mortgage calculator or other software can be helpful, it is crucial for mortgage professionals to understand the basic concepts behind common loan origination calculations; knowing advanced number concepts allows the loan originator to look more deeply into the benefits of a transaction for the borrower. In this professional development online course, students will explore the fundamental financial calculations of loan origination, including PITI payments, income, DTI and LTV ratios, periodic and per diem interest, and more. Students will learn formulas for these calculations and others, and will apply their knowledge through several interactive scenarios.
The mortgage industry is undergoing unprecedented change, and the need for trained originators is at its height. Mortgage personnel are serving in a growing array of roles, and the possibility for continued expansion of these roles is unlimited. Although technological integration has made it possible for originators to quickly process and complete loan packages electronically, the need for well-trained and educated originators has not faded. This professional development online course concentrates on the basic concepts and practices related to the loan cycle, and will provide an overview of the process from origination to funding. Each of the steps of the loan cycle and the legal requirements related to each step will be reviewed.
Title III of the USA PATRIOT Act impacts mortgage lending transactions, requiring verification of customer identities and reporting of suspicious financial activities. The Financial Crimes Enforcement Network (FinCEN) has primary responsibility for investigating, identifying, and reporting information on money laundering and other financial crimes. This course will briefly review the USA PATRIOT Act and how its requirements apply to mortgage professionals.
The continued growth of identity theft harms consumers and damages the mortgage industry. The Federal Trade Commission’s Red Flags Rule requires mortgage professionals to take steps to prevent this form of fraud. This course explains how to identify and minimize the impact of identity theft in order to protect customers and their personal information. It will also discuss the origins of federal efforts to fight identity theft, the overall requirements of the Red Flags Rule, give familiarity with the expectations that relate to the mortgage industry and review specific steps that mortgage professionals can take in the loan origination process to detect and help prevent identity theft.
Privacy rights are a significant concern for mortgage professionals who are involved in the solicitation, origination, processing, closing and servicing of mortgage loans. Multiple laws protect the privacy of borrowers, and violation of these laws can result in serious liability. This course reviews the privacy laws that protect borrowers from the time they receive a solicitation for a mortgage loan until their loans are repaid. It also discusses the actions that are necessary to maintain compliance with privacy laws, which are an ongoing concern for mortgage professionals.
In today's digital age, working remotely is becoming easier and more common. However, working outside of the office environment brings new cybersecurity threats. This Remote Worker Preparedness Solution provides you with a strong understanding of how to keep data and information secure while working from outside the office and reinforces that learning through targeted reinforcement modules.
Take your mortgage lending career to the next level. Our Professional Development Package has been customized to include courses geared towards key skills that every professional can benefit from—no matter what industry, profession, or career stage you are in. Embrace the benefits of ongoing training and be empowered in advancing your own career.
By investing in this soft skills training series, you will be able to maximize your contributions to the success of either your own business or your organization. Learn effective selling techniques, how to effectively lead a team, improve your written and verbal communication skills, and discover tips in achieving your maximum potential.Courses are available individually, but this Professional Development package includes all 4 topics listed below at a special discounted price.
The Prescriptive Selling series provides your sales team with the skills necessary to sell more effectively, using proven sales process techniques. The courses in this series are focused micro-courses covering key learning skills every sales employee needs to know, including uncovering the client’s need, selling the benefit, next step selling and more.
The Dynamic Leadership series is designed to help your employees gain the necessary skills to become effective leaders. The courses in this series are focused micro-courses covering key learning skills, including identifying key leadership qualities, how to communicate vision and employee development planning.
The Mortgage Compliance Advantage Series is a comprehensive compliance approach that ensures you are equipped with the knowledge needed to mitigate against risk for both your organization as well as yourself.
The Mortgage Compliance Essentials series is exactly that---the bare essentials of compliance in mortgage lending. Important topics covered include RESPA, TILA and TRID to name a few. Equip yourself with the knowledge you need to achieve success in your lending career.
Bundle includes courses on:
- An overview on Fair Lending Laws
- Borrower's Right to Privacy in Mortgage Transactions
- Real Estate Settlement Procedures Act
- The Equal Credit Opportunity Act
- The Fair Credit Reporting Act
- The Home Mortgage Disclosure Act
- The Homeowners Protection Act
- The Red Flags of Fraud
- The Truth in Lending Act
- TRID, BSA and AML Law
- Unfair, Deceptive or Abusive Acts:
The Personal Productivity series provides your employees with tips and important techniques for successfully and productively managing their time, energy and other resources to maximize achievement. The courses in this series are focused micro-courses covering key learning skills every employee needs to know, including prioritization, planning and managing a schedule, and problem solving.
The Impactful Communication series provides your employees with communication skills necessary to interact with internal and external clients, both written and verbally. The courses in this series are focused micro-courses covering key learning skills every employee needs to know, including communication rules, effective listening, handling conflict and more.
See scenarios modeled after workplace incidents that could lead to sexual harassment claims, and find out the right way to handle situations where employees confide in you.
Prevent sexual harassment in your workplace and maintain a safe, dignified and productive work environment by learning to recognize and avoid inappropriate conduct.
Mortgage HQ is the all-in-one resource MLOs can trust. Whether you’re a beginner or an experienced MLO, this annual subscription can help you achieve the career success you desire. Get access to our one-stop shop for mortgage industry news and trends, knowledge center of frequently asked on-the-job questions, and daily career tips and advice. You’ll also get access to an extensive library of 100+ career development training courses.
This course is the second of two courses that introduces the topic of human trafficking. The focus for this course engages the viewer to recognize the various red flags that may be identified based on whether the observable behavior or transaction is human smuggling or human trafficking. Reporting is a key issue; therefore, various aspects will be explored.
This introductory course is one of two courses on human trafficking. It will provide an overview of human trafficking and introduce the various aspects of this growing and heinous crime. While many different thoughts about this topic may come to mind, it's important to sift through the myths and truly understand and know what human trafficking looks like and how it operates. In doing so, this may be the best way to combat it.
The human trafficking course bundle provides you with the knowledge about the heinous crimes of human trafficking, human smuggling and arms you with tools to identify and combat these crimes. The first course, Introduction to Human Trafficking, key terms such as human smuggling and human trafficking were defined and differences highlighted. A basic understanding of the types and stages of human smuggling and human trafficking were presented. How human trafficking works was also covered by looking at the mindsets of the trafficker and victim. The focus for this course engages the viewer to recognize the various red flags that may be identified based on whether the observable behavior or transaction is human smuggling or human trafficking. Reporting is a key issue; therefore, various aspects will be explored.
Underwriting involves evaluating a loan applicant’s financial information along with facts about the real estate to assess whether a potential loan is an acceptable risk for a lender. Everything you need to know about Underwriting in this one professional development course!
In this course, participants will learn the basics of the property appraisal process. This includes a review of the Uniform Standards of Professional Appraisal Practice (USPAP), which govern appraiser conduct, and the entities and regulations that apply to appraisal activities. This professional development online course will also briefly discuss recent changes to federal law that impact appraisal requirements, including standards for providing appraisal reports and related disclosures. Finally, students will learn about the three approaches that professional appraisers use when developing a property valuation, and will explore the appraisal process step by step.
This course concentrates on one of the basic concepts related to the mortgage loan cycle: title insurance. This professional development online course will provide students with an overview of reasons for title insurance, types of title insurance, and key elements of title. It also discusses the steps in the title process and some important details of the closing and post-closing process.
Privacy rights are a significant concern for mortgage professionals who are involved in the solicitation of mortgage loans. The Telemarketing Consumer Fraud and Abuse Prevention Act and the Telemarketing Sales Rule protect the privacy of borrowers, and violation of these can result in serious liability. This professional development online course reviews the privacy laws that protect borrowers when they receive a solicitation for a mortgage loan.
Mortgage origination is an exciting career; few other professions allow individual exposure to a number of different industries and interesting challenges. With a foot in both the real estate market and the financial industry, mortgage professionals participate in one of the most important financial decisions that many consumers make over the course of their lives. Good communication skills and the ability to appropriately advise borrowers are essential to a successful loan origination. An understanding of how the industry operates and knowledge of the factors critical to originating good loans are also important components. This professional development online course examines all of these and more, reviewing the roles of various"players" in the industry, important considerations in the borrower qualification process, and the essentials of the loan cycle. Students will also learn some of the mathematics of mortgage lending, and learn how all of these elements fit together to ensure a smooth, safe mortgage loan origination process.
Third-party vendor management is a hot topic for all organizations providing financial services. Several federal regulators, including the Federal Reserve Board, OCC, Consumer Financial Protection Bureau, FFIEC, and more, have issued guidance on how financially-related organizations should be managing third parties. This professional development online course introduces the concept of third-party vendor management, explains it as an element of risk management, reviews the regulatory requirements and expectations surrounding it, and also identifies best practices.
Considerations for flood protection must be made for certain financial transactions. In this professional development online course, students will review the Flood Disaster Protection Act to learn how it applies to the operations of mortgage professionals. Students will explore the origins of the FDPA, its most essential provisions, and the impact of recent legislation on the Act itself and on the industry in affected areas.
Changes in the mortgage lending marketplace have returned government products to a level of popularity that has not been seen in a number of years. In order to stay competitive in the current industry, it is beneficial for mortgage professionals to understand the world of government-backed lending and how it differs from conforming and conventional lending. In this professional development online course, participants will review the role of the Federal Housing Administration and the latest requirements and changes involved in becoming an FHA lender. Students will also explore FHA programs and their unique features, discuss the FHA's primary programs and the qualifying factors involved in origination, and review the origination and processing steps for FHA loans.
This professional development online course explores various aspects of the Gramm-Leach-Bliley Act (GLB Act). It discusses the purpose of the GLB Act, the protections offered under its provisions, details of the various privacy and opt-out notices it requires, and the differences in these requirements for consumers versus customers. The course will also discusses practices prohibited and limited by the Act, as well as penalties for violations.
For over 70 years, the United States Department of Agriculture's (USDA) Rural Development Program has focused on improving the economic and social welfare of rural America. USDA's Single Family Housing Programs provide homeownership opportunities to low- and moderate-income Americans living in rural areas. Beginning September 1, 2014, the USDA imposed a number of important changes to one of these programs: the Single Family Rural Housing Guaranteed Loan Program, or SFHGLP. These changes were codified in an Interim Final Rule, and were implemented with the goal of making the Program easier for borrowers and lenders alike. This professional development online course explores requirements for the Program, including eligibility for lenders, borrowers, and properties. Students will also learn about permitted and prohibited use of loan funds, the guarantee process, and how guaranteed loans are serviced.
As more Americans begin to shift into the later stages of life, the"Baby Boomer" generation is, in many cases, looking for additional options to meet the financial demands of its golden years. One mortgage product that has experienced a surge in popularity in recent years has been the reverse mortgage. Reverse mortgage loans are available only to people who meet a certain age threshold and other requirements; while they do offer a way for seniors to meet the costs of living later in life, it is important for mortgage professionals and borrowers alike to understand both the benefits and the risks of reverse mortgage products. This professional development online course take students through a review of what exactly reverse mortgage loans are, the types of products available, and to whom they are best suited. In addition, students will explore government-insured reverse mortgage loans in-depth, understand prohibitions and regulations for these loan types under the law, and examine the steps of the reverse mortgage lending process.
Mortgage Loan Processing 101 provides an exciting crash course in the basic principles of loan processing. Participants will learn the responsibilities of a loan processor, important elements of the loan application process, the fundamentals of credit scoring, and more. This professional development online course will provide a basic introduction for loan processors that are new to the business, or for those professionals looking for a refresher. Students will have the opportunity to review information relating to automated loan origination and underwriting, including the most commonly used systems, as well as the avenues by which a loan processor may receive a new loan application. In addition, students will take a look at information relating to credit reports, appraisals, and important disclosures required by law. Finally, students will review important responsibilities related to documentation and verification, as well as time management strategies and ethical considerations.
The purpose of this professional development online course is to make the originator conversant in and knowledgeable of all aspects of the credit report, its contents, and its utility in the loan decision process. It is important to be familiar with the components of the credit report, how the report is compiled, and what the ultimate score will mean for a potential borrower. By examining the specifics of the credit report, one can better help the potential borrower understand the process and make a credit decision that is right for him or her.
This course looks at federal initiatives aimed at addressing the recent mortgage market crisis. Students will learn about federal efforts to curb harmful practices and create opportunities for struggling homeowners to regain ground and recover from the rampant foreclosures that took place from 2007 to 2011. This professional development online course discusses the circumstances that led to the market crisis, reasons behind the record numbers of foreclosures, and initial steps taken by the federal government to help the industry - and borrowers - bounce back. Areas covered include the Emergency Economic Recovery Act, HAMP, the MARS Rule, and the CFPB's Mortgage Servicing Final Rules. Students will learn the background and details of each law and their applicability in today's rebounding mortgage market.
There are many facets to the role of a mortgage loan originator; consumers often depend on loan originators to guide them through their transaction. Loan originators who are new to the field of mortgage lending will also quickly learn that there are many steps to the lending process itself. Successful mortgage loan originators have a firm grasp of the many intricacies of their job, and know the importance of remaining well-informed in order to keep up in this fast-paced industry. This professional development online course will provide new mortgage loan originators with insight into the industry, giving them an opportunity to become familiar with the unique responsibilities and characteristics of the job. Students will also review some basics of the industry itself, to ensure that they are well-equipped with the knowledge necessary to start out on the right foot and find the fast track to success as a mortgage loan originator.
Mortgage servicers play a key role in the U.S. mortgage market, taking responsibility for the day-to-day management of mortgage loans on behalf of lenders and investors. The start of 2014 saw a new era of federal provisions to increase consumer protection in the mortgage market. The Mortgage Servicing Final Rules provide uniform minimum national standards for the industry, applying to all mortgage servicers, regardless of the type of servicer or ownership of the loan. The Rules implement the requirements set out in the Dodd-Frank Act and address other problems prevalent in the mortgage servicing industry. This professional development online course explore the Rules and their requirements, including those related to billing statements and information requests, error resolution, acceptance of payments, and loss mitigation. This professional development online course will also help students to understand policies and procedures, prohibitions, and the exemption for certain small servicers under the new regulations.
This professional development online course will review the legal and ethical importance of truthful and accurate advertising. It also includes the new accountability standards for entities and individuals. The course will highlight some of the more important legislative changes related to advertising and accountability since the mortgage industry"meltdown." Specific provisions addressed include those under the Truth-in-Lending Act (Regulation Z) and the MAP Rule (Regulation N). The course will also review some examples based on real advertising that has been distributed throughout the consumer marketplace.
The Consumer Financial Protection Bureau (CFPB) has the authority to conduct examinations of a number of entities participating in the financial industry, including mortgage professionals. In its comprehensive Supervision and Examination Manual, the CFPB presents nearly 1,000 pages of examination procedures - a daunting prospect for a mortgage professional attempting to learn about the process. This course highlights the portion of the Manual dedicated specifically to examinations of mortgage professionals, breaking down those procedures step by step. From the start of the examination process to the final outcome, this course helps students to understand the goals of a CFPB examination, each step involved, and potential results. This professional development online course allows mortgage originators to gain a clearer understanding of what they may expect if they face an examination, and highlights the importance of maintaining day-to-day compliance to ensure positive examination results, a successful and compliant business, and, most importantly, a low level of potential risk to consumers.
The process of obtaining and originating residential mortgage loans plays a huge role in the stability of the economy, in both the United States and financial markets across the globe. Recent turmoil in the housing and financial industries has placed a spotlight on securitization. In the mortgage industry, securitization refers to the bundling of mortgage loans by a third party to resell to investors. The third parties responsible for the facilitation and initial resale of these bundles of loans are typically Fannie Mae or Freddie Mac, government-sponsored enterprises; Ginnie Mae, a government agency; or private financial institutions. This professional development online course will review basic concepts related to securitization, explore its role in the mortgage industry, and learn about who is typically involved in the process. Students will also examine further investment opportunities that can result from the formation of mortgage-backed securities, and learn about the future of this part of the industry.
This professional development online course will provide students with the essential information necessary to understand the Ability to Repay/Qualified Mortgage Rule and the Concurrent Rule, and will provide a review of the regulatory and industry concerns considered by the CFPB in its rulemaking. This professional development online course help participants understand the importance of the Rule and its effect on the mortgage landscape, and will highlight compliance concerns that may arise. The course will also review some examples in the form of Discussion Scenarios.
In early 2013, the CFPB announced a number of changes to federal rules governing the mortgage industry. One of the most anticipated rules issued is the Loan Originator Compensation Rule, which provides guidance for defining and calculating compensation for originators in loan transactions. This professional development online course will provide students with the essential information necessary to understand the Rule, and will provide a review of the regulatory and industry concerns considered by the CFPB in its rulemaking. This professional development online course help participants understand the importance of the Rule and its effect on the mortgage landscape.
In this professional development online course, participants will review the purpose of TILA, learn about creditors and loans regulated by TILA, explore required disclosures, and more. Students will review rescission rights, advertising requirements and prohibitions, and recent legislation implementing updated requirements for consideration of borrower repayment ability, qualified mortgages, higher-priced mortgage loans, escrow accounts, and loan servicing.
In 1974, Congress enacted the Equal Credit Opportunity Act (ECOA) to eliminate discriminatory treatment of credit applicants. ECOA and its regulations, known as Regulation B, are intended to promote the availability of credit to all creditworthy applicants regardless of gender, race, color, religion, national origin, marital status, age, or the fact that the applicant receives income from a public assistance program or has exercised his/her rights under the Consumer Credit Protection Act. This professional development online course provides a review of ECOA's requirements, including protected classes, disclosure requirements, special purpose credit programs, and more. This course will also explores recent disparate impact claims and their effect on the industry.
The Consumer Leasing Act (CLA) was passed in 1976 to protect those entering into a consumer lease for personal property. The CLA is designed to require meaningful and accurate disclosure of all lease terms prior to entering into a contract, providing consumers the opportunity to compare the true cost of leasing an item against possibly financing with credit or paying cash. The CLA also works to limit balloon payments, which are commonly due at the conclusion of a lease agreement. In addition, limits are imposed by the CLA to protect consumers from false or misleading advertisements. This professional development online course provides a review of the provisions of the Consumer Leasing Act, including definitions associated with the Act, an explanation of who is regulated, its disclosure and advertising requirements, and the consequences of committing violations.
Congress enacted the Home Mortgage Disclosure Act (HMDA) in 1975 to discourage creditors from denying loans to qualified applicants because of the applicants' race, a practice also known as"redlining," and to encourage lending institutions to provide loans to consumers in their communities. HMDA requires covered institutions to submit reports about their mortgage lending activities in order to help citizens and public officials determine whether community housing needs are being met. This professional development online course will review the background of HMDA and important amendments to its provisions, the legal and ethical importance of its reporting and disclosure requirements, as well as new standards for entities and individuals as a result of changes mandated by the Dodd-Frank Act.
The Dodd-Frank Act and the Consumer Financial Protection Bureau have ushered in a new era of enforcement and regulation in the financial marketplace. Expanding upon unfair or deceptive acts or practices as codified by the Federal Trade Commission (FTC), the Dodd-Frank Act introduced a new, arguably higher standard with which financial institutions must comply when interacting with consumers. This professional development online course covers the fundamentals of unfair, deceptive, or abusive acts or practices (UDAAP). This professional development online course examines the provisions relating to UDAAP, as well as a brief review of the original unfair or deceptive acts or practices (UDAP). It also addresses the applicability of UDAAP standards to the new examination procedures set forth by the Consumer Financial Protection Bureau.