An overview of the mortgage lending business, including mortgage banker, broker, and lender business models; the role of government and agencies like Federal Housing Administration and the Veteran’s Administration programs; other key players like Fannie Mae and Freddie Mac; important real estate laws; and the basics of real estate investing.
Learning Objectives
• Explain how property is transferred from one owner to another, and the legal implications of transfer of property
• Describe the basic principles involved in real estate investment and finance, including the business of construction and development lending
• Describe the process of mortgage origination, processing, underwriting, closing, and servicing, including the federal laws that apply
• Explain the various functions and responsibilities of mortgage origination and loan servicing departments
• Identify government and government-sponsored agencies that interact to further home ownership
