Introduction to Mortgage Lending ILO

Description

An overview of the mortgage lending business, including business models such as mortgage banker, broker, and lender; 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; basics of real estate investing.

Explore key elements in the mortgage lending industry. Course topics include the major mortgage financing programs and guidelines; construction lending and land development financing; regulatory compliance laws and their impact on the mortgage process; property appraisals review; types of mortgage fraud and impact on the industry. (10 weeks)

There is no separate textbook for this course. All reading materials are posted online in your course.

Learning Objectives

• 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
• Describe mortgage financing programs and options
• Explain applicable compliance laws and their impact on the mortgage process
• Describe how a property appraisal is completed and how they are used in mortgage financing
• Describe the basic principles involved in real estate investment and finance, including the business of construction and development lending
• Describe the different forms of mortgage fraud and its impact on the industry and financing process

Audience

Financial service professionals who want a broad overview of mortgage lending, including those who intend to pursue a career in mortgage lending (business development, underwriting, processing) or those individuals who recently joined a mortgage lending department.

Course Credits

ACE Credits: 3.0 in introduction to mortgage lending, banking, or finance.