Understanding Mortgages in Today's Changing Market

-Continuing Education- 

Price:$175.00
Book Cost: included
Hours: 22.5hours (You finish your 22.5 hours of continuing education required by the State.)

Course Outline:

1. Standard mortgage application – FNMA 1003
2. Verification forms –EV, DV, etc.
3. Processing a mortgage application
4. How to read and interpret a standard credit report
5. How to read and analyze a FNMA appraisal
6. Real Estate Settlement Procedures Act – RESPA
7. Truth in Lending – Regulation Z
8. Different types of mortgages
   1. Salaried vs. self employed
   2. Income check vs. no income check mortgages
   3. No asset verification – what is means and when to use it
   4. ARMS vs. Fixed, Biweekly, Balloons, Construction
   5. FNMA, FHLMC,FHA, VA
   6. Home equities, second mortgages
9. Commercial
   1. How to qualify a borrower and recommend the best mortgage plan
      available based on their qualifications
10. Mortgage closing process – what happens to the after it is closed
11. How to read and interpret a title report
12. Closing Documents – Mortgage, Note, HUD 1
13. Secondary Market
14. NYS Banking Department
    1. General Regulation
    2. Article 12-D
    3. Advertising
    4. Legal Requirements – record keeping

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