Class Syllabus: Mortgage Broker 101
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Class Syllabus: Mortgage Broker 101

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Office Hours: Continuous
Course Meeting Times: Continuous
 

Course Description

Mortgage Application
 

 

Part lender part real estate aficionado, in this course we 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.

Course Requirements

"font-size: 12pt; color: black; line-height: 115%; font-family: ">"color: black; line-height: 115%; font-family: ">This course will not require you to have previous experience in any particular area but you should have a high school reading level. No books will be required.

Course Topics

 
  • Lesson 1 : Introduction to Mortgage Banker/Broker Careers
  • Lesson 2 : General RE Financial Industry Overview
  • Lesson 3 : Differences between Mortgage Bankers and Mortgage Brokers & Suggested Professional Training
  • Lesson 4 : Mortgage Loan Process
  • Lesson 5 : Funding Sources
  • Lesson 6 : The Federal Reserve and Factors Affecting the Mortgage Lending Industry
  • Lesson 7 : Two Basic Types of Mortgage Loans: Fixed and Adjustable Rate Mortgages (ARMs)
  • Lesson 8 : Additional Types of Mortgages
  • Lesson 9 : Refinance Tools: HELOCs and second mortgages
  • Lesson 10 : ARM Indexes
  • Lesson 11 : The Mortgage Loan Package & Application
  • Lesson 12 : Interest, Points and Annual Percentage Rates
  • Lesson 13 : Mortgage-Related Insurance Products
  • Lesson 14 : Reverse Mortgages
  • Lesson 15 : Regulatory & Legislative Issues
  • Lesson 16 : Mortgage Loan Resources

Course Materials

All course material will be provided in the lessons and netlinks. There are no required materials to purchase before taking the class.

Grading Policy

Each lesson will include a lesson review quiz along with one or two assignments. Students will successfully complete this course with 70% or better.

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