This web-based self-study course provides an overview of loan administration processes and functions within the mortgage banking industry.

Designed for anyone interested in learning more about the servicing side of mortgage banking, this course is ideal for new loan administration employees, as well as experienced employees seeking a more well-rounded understanding of the business.

Course Outline:

Lesson 1 - Servicing in the Mortgage Lending Process

• The Mortgage Lending Process
• Types of Mortgage Specialists
• Players in the Lending Process
• Evolution of Mortgage Servicing
• Servicing in the Lending Process

Lesson 2 - Loan Administration Concepts

• Loan Administration Goals
• Loan Administration Functions and Tasks
• Interview with an Expert: Working in Loan Administration
• Loan Administration Productivity
• Entities Related to Loan Administration
• Loan Programs
• Financing Options
• Financial Management in Loan Administration

Lesson 3 - Loan File Documents

• The Deed
• The Promissory Note
• The Security Instrument
• Essential Mortgage Clauses
• Riders to the Promissory Note and Security Instrument
• Title Insurance Policy
• Hazard or Homeowner Insurance Policy
• Flood Insurance Policy
• Mortgage Insurance Policy or Certificate
• Other Loan File Documents

Lesson 4 - Loan Administration Functions

• Accounting
• Customer Relations
• Taxes, Insurance, and Escrow
• Asset Management
• Other Important Areas of Loan Administration

Course Credit:
Completion of this course earns five points toward MBA's Certified Mortgage Banker (CMB), or Certified Mortgage Technologist (CMT) designations. This course also earns five points towards any of the three tracks of the Mortgage Servicer Achievement Certificate programs (CMS Level I).