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1.4 CEUs  ::  14 Contact Hours  ::  Self-Paced  ::  Instructor Support  ::  6 Month Subscription

Course Description

~Part Lender, Part Real Estate Aficionado~
 
In this course we will discover the workings of mortgage bankers/broker specialists and the unique role they play in partnering with individuals when they make one of the most important purchases of their entire lives--that of buying property.

While somewhat technical, the training to become a mortgage banker/broker entails a good amount of knowledge in such areas of lending as: mortgage types, interest rate structures, and matching loan instruments to individuals based upon the nature of their personal financial situations.

To assess whether an individual would make a good mortgage loan candidate, mortgage bankers/brokers spend a great deal of time evaluating clients' credit backgrounds, income statements and additional financial factors.

Further, with new onuses in place whereby bankers/brokers are being required to critically analyze an individual's credit background prior to granting him/her a mortgage loan, it is more important than ever, that there be well-qualified mortgage bankers/brokers helping consumers navigate through the home finance lending process.

And with the help of this Mortgage Banker/Broker course, we have gone to great lengths to familiarize you with the major tenets with which a mortgage banker needs to be well acquainted from credit applications and pre mortgage loan approvals to interest rate fluctuations and subprime markets.  

And in light of the current US economic crisis, it is very important for mortgage bankers/brokers to be fully up not only on the regulations and legislations affecting the mortgage industry but also on the steps clients can take to avoid negative pitfalls and reduce unnecessary costs.

Hence, as you explore the career options that exist within the mortgage lending field, we believe you will find this cross-section of mortgage-related tools, steps, and activities to be both helpful and applicable to the daily work performed by bankers/brokers.


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Course Lessons

  • Lesson 1 : Introduction to Mortgage Banker/Broker Careers

    This introductory lesson covers the basic differences between a mortgage banker and a mortgage broker and key job responsibilities associated with each.
  • Lesson 2 : General RE Financial Industry Overview

    In the second lesson, we aim to provide you with a general sense of the how the Real Estate lending finance industry works.
  • Lesson 3 : Differences between Mortgage Bankers and Mortgage Brokers; and Suggested Professional Training

    In this lesson, while further exploring these marked differences, we also explain the basic steps involved in becoming a mortgage banker-broker, as well as the stipulations required of each profession.
  • Lesson 4 : Mortgage Loan Process

    We now begin to shift our focus to that of the 'actual mortgage loan process' detailing the respective steps and activities applicable to each stage.
  • Lesson 5 : Funding Sources

    We captured many of the ways in which bankers and brokers act in similar ways. However, when we come to the subject of funding sources, we find this to be where the major distinction between the two professions comes into play.
  • Lesson 6 : The Federal Reserve and Factors Affecting the Mortgage Lending Industry

    Rather than being a product of an insulated bubble, mortgage rate fluctuations react in accordance with developments in the Nation's economy.
  • Lesson 7 : Two Basic Types of Mortgage Loans: Fixed and Adjustable Rate Mortgages (ARMs)

    In this lesson, in an effort to get acclimated to the full range of mortgage types, we will begin by first looking at the two primary groups: adjustable rate mortgages(ARM)and fixed rate mortgages.
  • Lesson 8 : Additional Types of Mortgages

    In this subsequent lesson we will look at traditional government loans, as well as, specialty types of loans designed to provide the borrower with creative financing solutions.
  • Lesson 9 : Refinance Tools: HELOCs and Second Mortgages

    Because a home is quite frequently a person's single largest source of collateral, it represents a source of funding which can be tapped through a range of different loan instruments.
  • Lesson 10 : ARM Indexes

    To gain a better sense of how Adjustable Rate Mortgages (ARMs) work and source(s) upon which their accompanying interest rates are based, it will be helpful to understand ARM indexes.
  • Lesson 11 : The Mortgage Loan Package and Application

    In working with a client, your role as a banker-broker is to help walk the individual through the mortgage lending process to ensure that they understand all that is required and feel confident in the decisions they make along the way.
  • Lesson 12 : Interest, Points, and Annual Percentage Rates

    Perhaps one of the most complicated aspects of a mortgage loan is that of the accompanying interest payments. True of any type of loan, the bank or financial lender charges a fee for the use of the moneys loaned.
  • Lesson 13 : Mortgage-Related Insurance Products

    As we have come to find throughout this e-book, while mortgages share many similarities with other types of loans, they also are unique in the ways clients apply for them.
  • Lesson 14 : Reverse Mortgages

    For individuals more advanced in age, different home ownership financial strategies may prove more applicable for them than for their younger counterparts.
  • Lesson 15 : Regulatory & Legislative Issues

    Both Federal and state, have a consortium of regulations and legislations giving them the authority to monitor activities of financial lending institutions among others involved in real estate finance transactions.
  • Lesson 16 : Mortgage Loan Resources

    In the final chapter of this e-book, we provide an informative wrap-up comprised of mortgage acronyms, commonly used mortgage terms, and mortgage related resources.
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