| Mortgage Banking Primer introduces the major components of the mortgage lending cycle: loan production, loan administration, and secondary marketing. This course is ideal for new residential mortgage banking employees, experienced employees desiring cross training, and students preparing for MBA's School of Mortgage Banking. This course examines loan production issues, including origination, processing, underwriting, and closing; loan administration issues, including the major functions of loan administration, laws and regulations, and loan administration profitability; and secondary marketing issues, including funding, mortgage delivery, and risk management.
Course Outline:
Introduction to Mortgage Banking
- Evolution of mortgage banking
- How mortgage banking works
- Specialists in mortgage banking
- Regulation of mortgage banking
Lesson 1 - Loan Production
- Roles and responsibilities of loan production
- Major institutions, programs, and financing methods in the mortgage market
- Regulatory laws that affect loan production
- Four major stages of the loan production cycle (Origination, Processing, Underwriting, Closing)
Lesson 2 - Loan Administration
- Four objectives of loan administration
- Roles and responsibilities of loan administration
- Regulatory laws affecting loan administration
- Stages of the loan administration cycle
Lesson 3 - Secondary Marketing
- Roles and responsibilities of secondary marketing
- Major investors in the secondary mortgage market
- Types of secondary mortgage market products
- Regulatory laws affecting the secondary mortgage market
- Warehousing, shipping and delivery and secondary marketing processes
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 MBA's Residential Loan Production, Secondary Marketing, Residential Underwriter (CRU Level I), or any of the three tracks of the Mortgage Servicer (CMS Level I) Achievement Certificate programs. |