BOTH CLASSES: Loan Processing 101 and Advanced Processing

 

 

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COURSE DESCRIPTION: 

These two online training webinars are designed for individuals wishing to learn how to become a mortgage loan processor, from A to Z. The basic course provides an in-depth study of conventional loan calculation and requirements. It provides intensive loan processing training in the basics of residential mortgage application, title, appraisal, credit reports and much more. The advanced course provides an in-depth understanding of mortgage loan processing from both a loan processor and underwriter’s point of view. Through a variety of loan scenarios, you’ll receive hands-on experience analyzing mortgage loan applications, allowing you to learn first-hand how understanding the basics of mortgage processing and supporting technology will increase your confidence and hone your decision-making skills as an effective mortgage processor. Experienced loan processors will receive an essential refresher and see how other experienced loan processors are handling their analysis. 

Upon completion, students will be able to: apply best practices to processing decisions, use methods and expertise needed to evaluate mortgage files, analyze stipulations from the underwriter, prevent red-flagging, analyze & accurately review appraisals. Also covered in this course: understanding underwriter conditions, how outside vendors such as appraisers and mortgage insurance companies fit into the overall mortgage loan approval process. 

COURSE OUTLINE (FOR BOTH THE 101 & ADV. CLASS):

  • Mortgage Terminology
  • Ratio Terminology
  • Examples
  • Additional Mortgage Terminology
  • The Loan Cycle
  • Loan Processor Duties
  • Loan Documentation
  • Breaking Down the Forms
  • Truth in Lending Application
  • Truth in Lending Disclosure Basics
  • The Loan Estimate
  • Closing Disclosure
  • CD Pages 1 - 5
  • The Credit Report
  • Public Records
  • Tradelines
  • Payment History
  • Personal Information
  • Employer Information
  • Inquiries
  • Automated Underwriting Systems
  • AUS Recommendations
  • Verification of Deposit
  • Verification of Employment
  • Verification of Rent/Mortgage
  • Purchase Contract
  • Submitting to Underwriting
  • Credit Report Review
  • Income Review Begins
  • Base Pay (Salary or Hourly)
  • Bonus, Overtime, & Commission
  • Part-Time, Second Job, or Seasonal
  • Retirement and Pension Income
  • Alimony & Child Support
  • Social Security
  • Military Income
  • Self-Employed Income
  • Sole Proprietor (Schedule C)
  • Rental Income (Schedule E)
  • Partnership Income Form 1065
  • U.S. Income for an S. Corp (Form 1120-S) w/K-1’s
  • Assets Review
  • Checking /Savings
  • Stocks & Mutual Funds
  • IRA & 401-K Assets
  • Business Assets
  • Purchase Agreement Review
  • Appraisal Review
  • Review the Appraisal Live
  • Title Review
  • Sample Underwriter Conditions
  • Multiple Practice Quizzes

**Note: The course outline above may not be 100% accurate as we change curriculum periodically throughout the year. We also reserve the right to change course curriculum and/or discontinue this course at any time.

COURSE FORMAT:

  • Instructor-Led Online Webinar
  • Duration: 24/7 Access for 1-Year
  • All Course Materials are Downloaded as PDF Files
  • Certificate of Completion Downloaded as a PDF File
  • Job Search Resources (Upon Request)

WHO SHOULD ATTEND: 

Aspiring mortgage processors & underwriters wishing to learn mortgage processing, from A to Z. Whether you're unemployed and looking to enter the mortgage loan processing profession, or you're currently working at a bank or lender as an loan processor, this loan processor training program will provide the skills you need to succeed as an effective mortgage processor or underwriter. Also ideal for loan processing managers looking to train their existing staff on proven loan processing principles.

HOW IT WORKS: 

As soon as you enroll, we will email you the Instructor-Led Online Webinar & Course Materials, so you can start taking the training IMMEDIATELY.

ABOUT THE INSTRUCTOR: 

Each CampusMortgage® instructor has an average of 15+ years of prior mortgage related experience. Each instructor also draws from a different knowledge base that may include such areas as: mortgage underwriting, loan processing, FHA, VA, Conventional loans, Commercial lending, USDA Rural Housing Loans and more. 

SYSTEM REQUIREMENTS: 

You will need the following: 1) a Computer, 2) Internet (DSL or higher) and 3) Computer Speakers. Please check beforehand to make sure these items are working properly. 

GRADUATION: 

Upon successful completion of this course, you will be able to download & save your Certificate of Completion as a PDF file.

REFUND POLICY & TERMS OF USE: Before purchasing any CampusMortgage® training class, we recommend you thoroughly read our Refund Policy & Terms of Use.

 


Need Help? Call us today toll-free at 1-800-423-1510 Press 1


BOTH CLASSES: Loan Processing 101 and Advanced Processing
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