Public Course Delivery Method: Classroom Course
Duration of Course: 2 or 3 days (varies by location)

Meet SAFE Act Mortgage Loan Originator Licensing Requirements

20 Hour SAFE Comprehensive: Essentials of Mortgage Origination (Course ID: 1190) is approved by the NMLS to meet the pre-licensing COMPREHENSIVE requirements.

Essentials of Mortgage Origination is a highly interactive classroom-based course that focuses on the fundamentals of successful loan production. This NMLS-approved course provides an overview of associated disciplines critical to a complete understanding of mortgage loan production, including origination, processing, underwriting, closing, shipping and delivery, real estate law, fraud and quality assurance.

The course begins with an overview of the lending process, the players and types of mortgage professionals. It then examines the essential laws and regulatory guidelines that impact mortgage banking as well as the role professional ethics play in the successful implementation of these legal directives. A session on fraud and quality assurance further illuminates the need for vigilant adherence to laws and industry guidelines to avoid costly consequences that have put many industry players out of business. The remainder of the course focuses on identifying and defining the processes surrounding mortgage production.

Throughout the information-packed course, participants engage in several thought-provoking exercises. Students interact with industry experts who enhance the instruction with practical industry examples. The course concludes with a final comprehensive case study that allows participants to practice making real-life business decisions utilizing the concepts they have learned over the duration of the course. Students leave with a solid foundation in residential mortgage origination. They understand the role and importance of the loan production, regulatory compliance and quality assurance functions in the mortgage banking industry.

Overview of Topics

During this two-day, boot-camp-style program, students examine the following topics:

• The role loan production plays and has played in the success or failure of the mortgage banking industry
• Essential laws and regulatory guidelines dictating industry practices
• Ethical implications to compliance
• The impact of quality control and fraud prevention measures
• Understanding loan product selection for conventional and nontraditional lending products
• Processes and procedures comprising the entire loan production function

Learning Objectives

At the end of this course, students will have gained a firm foundation in all areas of loan production and will be able to:

• Calculate maximum loan amounts on purchase and refinance transactions
• Determine seller and lender contributions
• Identify the required applications and underwriting documentation for conventional and nontraditional loan products
• Analyze a loan package to determine if it meets the mandated underwriting, regulatory, and investor requirements
• Recognize red flags that indicate possible fraudulent activities in the loan process

Who Should Attend

Due to the intensity of the course, we recommend that you have a basic understanding of mortgage banking; however, everyone is welcome.

Production managers, counselors and other loan production staff responsible for performing and managing mortgage origination procedures will find this course essential in this time of ever-changing regulations and guidelines.

This course is also ideal for those who are considering entering the mortgage banking business or need a refresher on the most up-to-date changes affecting mortgage loan production.

Successful completion of this event will earn the participant 4 points toward MBA's Certified Mortgage Banker (CMB) Designation.