Course Details and Descriptions
RELE 1024 Loan Origination and Quality Control
Course Description: An introduction to the mortgage loan application process. Topics include regulatory compliance and documentation; real estate contracts; the mortgage application process, interview techniques; credit, income and property qualification, quality controls and procedures.
End of Course Outcomes: Complete a mortgage loan application; run preliminary pre-qualifying ratios from a loan application for each loan program; list documentation required for developing a mortgage loan package; identify the lending guidelines for credit, income, and property qualifications; and describe alternative mortgage instruments.
BNKG 1053 Mortgage Lending
Course Description: An overview of the mortgage lending market and mortgage banking process. Emphasis on documentation, credit evaluation, federal regulation, and state laws related to mortgage loans.
End of Course Outcomes: Describe the terms used in the mortgage lending process and analysis; explain federal regulations and state laws applicable to mortgage lending; and summarize the steps in mortgage credit investigation and documentation process.
BNKG 1091 Special Topics in Ethics
Course Description: This course addresses the usage and customs among members of the mortgage lending industry, involving moral and professional duties toward other professionals, clients, lenders, and borrowers. Ethics consists of not only knowing industry laws and regulations but applying that knowledge in making professional decisions.
End of Course Outcomes: Upon completion of this course, the student will be to:
- How ethics impact individual decision making
- Understand how each individual mortgage lender's ethics and practices impact a company, consumers with whom it does business and its community.
- Know the rights of consumers of Fair Lending
- Understanding of predatory lending practices
- Know common red flags to look for that indicated possible mortgage fraud
- Understand the purpose of Quality Control in the Loan Origination Process
- Understand the review process for the income analysis for the self-employed borrowers
- Understand basic risk evaluation issues of alternative mortgage products for self-employed borrowers
- Introduction to the new Consumer Protection Finance Bureau with insights of organizational structure, authority, and additional costs of compliance.
- How the Mortgage Reform and Anti-Predatory Lending Act will impact mortgage lending in the near term.
- Understand the Federal Reserve Board Rules and the driven by the Dodd-Frank Action on Valuation.
- How the Mortgage Reform and Anti-Predatory Lending Act will impact mortgage lending in the near term
BNKG1091 Special Topics in Ethics
Course Description: This course is designed to meet the core criteria established by the Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act for national mortgage loan originators, including three hours on federal lending legislation, three hours on the critical topic of fair lending and ethics, and two hours on nontraditional lending products. The course also provides a primer on the primary and secondary mortgage markets, as well as a review of the economic, legal, and valuation aspects of the real estate market.
End of Course Outcomes: Upon completion of the course, the student will be knowledgeable about all types of loan products and finance instruments, including conventional, government, and nontraditional financing tools. Students will also learn the fundamentals of the residential mortgage lending process, from prequalifying potential borrowers, to understanding appraisals, to closing a loan.