Professional Development for Washington MLOs

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:

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 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.

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.

Explore specific requirements and general rules you must follow to ensure the security of customer information.

This course will dig into the wide array of defects that could appear on a title commitment and how those are commonly resolved, including some that are encountered less frequently.  Additionally, this course will detail the differences between modular and manufactured homes and the potential title implications of each.

This course will focus on the various deeds used to transfer title between entities, as well as the various defects that could appear on title and potential measures that can be taken to cure.

Title insurance is one of the most important aspects of the mortgage application process.  Effective mortgage professionals must know how to read and interpret the information on a title commitment in order to determine any potential risks to the borrower or lender and determine what action steps are needed to resolve those risks.  In this course, participants will be introduced to what title insurance is, as well as some of the key terminology used within.  Participants will also be able to review a sample title commitment.

VA lending guidelines are specific and unique.  When discussing these products, mortgage professionals must be familiar with VA guidelines and how they apply to each individual borrower.  This course will help mortgage professionals understand how to underwrite VA loans effectively.

Applying for a VA loan can be a daunting task for any potential borrower.  VA loans are in a class of their own, with special qualification and eligibility requirements.  Given the specific and unique characteristics of VA loans, mortgage professionals must understand the ins and outs of this program in order to help borrowers through the origination process.  This course will provide guidance on the basic mechanics of VA lending.

Asset verification is one of the key components of the borrower qualification process.  Effective mortgage professionals have a firm understanding of the guidelines around the verification of borrower assets and how to effectively counsel borrowers on what is needed.  In this course, participants will learn about the various asset types typically used in mortgage transactions and how they are documented.

In this course, participants will review FHA’s 203(k) rehabilitation mortgage program, including a general description of its purpose and the basic requirements.  Participants will explore HUD’s requirements for eligible borrowers and properties, standards to qualify, how funds are handled, and more.

The FHA HECM reverse mortgage program provides seniors the ability to tap into the equity they have built in their home as a supplemental income source.  Mortgage professionals need to be aware of the many specific rules and regulations around FHA HECMs so borrowers can be effectively counseled through and beyond loan origination.  This course will review and explore key features of the FHA HECM program.

The FHA Streamline Refinance program provides existing FHA borrowers with an opportunity to improve their mortgage loan terms for minimal cost with minimal documentation.  Mortgage professionals who understand the nuances of this program will be able to effectively work with borrowers in helping them to achieve their refinancing goals.  This course will explore some of the key features of the FHA Streamline Refinance program.

The Adjustable-Rate Mortgage program is a key part of the overall FHA product offering. Mortgage professionals with working knowledge of this program are better able to assist borrowers in solving their mortgage needs. This course will explore some of the key provisions and features of FHA’s Adjustable-Rate program.

Changes in the mortgage lending marketplace have returned government lending products to a level of popularity that has not been seen in years.  To stay competitive in the mortgage industry, mortgage professionals must understand government-backed lending programs and how they differ from their conventional lending counterparts.  In this course, participants get an overview of the FHA lending program.

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.

Verbal verifications of employment, or VVOEs, are a tool commonly employed by lenders for the purpose of risk mitigation, fraud prevention, and data accuracy.  This course will cover the importance of the VVOE in the loan manufacturing process and the requirements around it.

A verification of mortgage, or VOM, is a form used within the mortgage industry as a means to obtain borrower payment history on any existing mortgage accounts they may have.  This course will review mortgage verification and its role in the mortgage lending process.

A verification of rent, or VOR, is a form used within the mortgage industry as a means to obtain borrower rental payment history.  This course will review rental payment verification and its role in the mortgage lending process.

Verification of employment is a key component of the loan qualification process.  This course will explore employment verification requirements and their importance in the loan manufacturing process.

Verifications of deposit, or VODs, are a common form of verification used to confirm that applicants have the funds they claim to possess.  This course will explore VODs and how they are used in the mortgage lending process

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.

Borrowers with rental properties pose unique challenges to mortgage professionals when it comes to documenting and calculating income.  In this course, participants will learn how to review and calculate rental income.

This course provides students with insights on borrowers who derive their income from an S corporation, including an overview of the tax documents typically needed to approve a borrower and direction on how to properly calculate income.

This course provides an overview of self-employment income from C corporations (C corps).  The course includes an explanation of C corps, the tax return documents used for verification, and the process for determining income used for lending purposes through an income analysis.

Accurate income assessment on borrowers with partnership income comes with unique challenges.  This course educates students on the documents that must be collected on borrowers with partnership income, as well as analyzing that documentation in order to accurately calculate income.

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.

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 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 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.

Prescriptive Selling

Dynamic Leadership

Impactful Communication

Personal Productivity

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.

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. 

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.

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.

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.

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.