| Underwriting Alternative Lending Products provides basic product knowledge and underwriting principles necessary for reviewing mortgages financed utilizing alternative lending products. Each lesson provides detailed product descriptions along with typical underwriting requirements. Exercise examples and case studies are provided to further increase your knowledge base and understanding of these unique mortgage lending products. In addition, the course contains expert commentary addressing industry issues associated with alternative lending.
Course Outline:
Lesson 1 - Affordable Solutions
- Affordable Solutions Overview
- Housing Finance Agencies (HFA)
- Down Payment Assistance and Grants
- Fannie Mae and Freddie Mac Affordable Lending Options
- Rural Housing Initiatives
Lesson 2 - Expanded Loan Programs
- Alt-A Programs
- Piggyback Loans
- Case Study
- Case Study Scenarios
- Case Study Recommendation #1
- Case Study Recommendation #2
Lesson 3 - Reduced Payment Products
- Adjustable Rate Mortgages (ARMs)
- ARM Payment Caps
- Alternative Payment Options
- Interest-Only (IO)
- Option ARMs
- Buydowns
- Case Study 1
- Case Study 2
Lesson 4 - Non-Prime Lending
- Non-Prime Lending
- Components of Non-Prime Loans
- Case Study
 CampusMBA is
offering the CRU designation through a partnership with Genworth Financial.
Genworth's underwriting courses and content have been implemented into the program
curriculum to enhance CampusMBA's current offerings to the real estate finance industry.
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 Certified Residential Underwriter (CRU Level III) Specialist Designation. |