Describes the primary regulatory compliance Acts that affect mortgage inquiry, counseling, and application phases. Reviews the features and benefits of the most popular mortgage programs, important elements of different purchase and refinance transactions, and techniques and sample responses to customers for your mortgage referral to the MLO.
After completing this course, students will be able to:
• Explain the phases in the mortgage origination process
• Identify the important compliance issues that affect mortgage inquiries and referrals
• Describe the features and benefits of conventional fixed rate, adjustable rate, FHA, and VA programs
• Prepare and refer mortgage loan application customers