Session

Lessons

Date

Welcome and Setting the Stage

Virtual Session - Check email for link to session

Tuesday, January 20

Introduction to Mortgage Banking – Part I

Why is Lending Profitable?
When does a lender realize revenue?
Where does a lender obtain capital to lend?
Loan Production

Thursday, January 22

Introduction to Mortgage Banking – Part II & Ethics in Mortgage Lending

Secondary Marketing
Warehousing
Loan Administration
Secondary Market Function and Players
Ethics and Decision Making
Ethics in Business & Code of Ethics

Tuesday, January 27

Loan Products

Product Development
Loan Products and Programs Overview
Loan Features
Qualified Mortgages
Special Products and Programs

Thursday, January 29

Quiz #1

Introduction, Ethics, Loan Products

Opens January 30

Loan Production – Functions, Goals, and Tasks – Part I

Origination
Processing

Tuesday, February 3

Loan Production – Functions, Goals, and Tasks – Parts II & III

Underwriting
Closing
Underwriting (continued)
Closing (continued)
Loan Production Case Study

Thursday, February 5

Quiz #2

Loan Production

Opens February 6

No Class - Quiz 2

Complete Quiz 2

Tuesday, February 10

Regulatory Compliance – Parts I & II

Regulatory Compliance Overview
Consumer Financial Protection Laws
Fair Lending and Anti-Discrimination Laws
Regulatory Compliance in The Real World
Recap and Practice Exams

Thursday, February 12

Quiz #3

Regulatory Compliance

Opens February 13

Warehouse Lending and Secondary Marketing – Part I

Overview and Risks
Funding, Obtaining, & Maintaining Lines of Credit
Process Flow and Stages
Introduction to the Secondary Market
Secondary Marketing Drives Pricing

Tuesday, February 17

Secondary Marketing – Parts II & III

Pipeline Management and Risk
Loan Sales
Shipping and Delivery
Secondary Pricing Scenario
Review and Practice Questions

Thursday, February 19

Quiz #4

Warehouse Lending and Secondary Marketing

Loan Servicing Parts I and II

Loan Servicing Overview
The Servicing Portfolio
Portfolio Valuation
Loan Servicing Operations
Servicing File Transfer and Set-Up
Cashiering and Cash Management
Investor Accounting
Escrow Administration
Customer Service

Tuesday, February 24

Loan Servicing Part III and QA, QC, and Fraud

Collections and Loss Mitigation
Foreclosure and Real Estate Owned
Quality and Efficiency in Servicing
Technology in Servicing

Thursday, February 26

Profitable Production Management

Profitability Defined
Income and Expenses
Emerging Opportunities
How to measure profitability
Emerging Opportunities

Tuesday, March 3

Technology: Drivers & Choices

Mortgage technology basics and connections
Technology implementations and risks
Standards and oversights that govern mortgage technology
Cost benefit considerations when implementing mortgage technology
Best practices regarding mortgage technology
Most common mortgage technologies

Thursday, March 5

Quiz #5

Loan Servicing, QA/QC/Fraud, Profitable Production Management, Technology

Opens March 6

No Class (Spring Break)

March 9 - 14

Role of Mortgage Loan Officer and The Loan Application

The mortgage loan originator
Basic definitions
Skill sets required for successful origination
Types of transactions
Communication and process
Getting to closing efficiently
The MLO’s role in taking the URLA
Steps in the Mortgage Loan Interview Process
Sections of the URLA
Lender Loan Information of URLA
Supplemental Consumer Information Form
Best Practices for Wrapping Up the Loan Application

Tuesday, March 17

Compliance in Loan Origination

Overview of compliance laws in mortgage loan origination
Fair Credit Reporting Act and Fair and Accurate Transactions Act (FCRA and FACTA)
Dodd-Frank Wall Street Reform and Consumer Protection Act
Equal Credit Opportunity Act (ECOA)
Home Mortgage Disclosure Act (HMDA)
Homeowners Protection Act (HPA or PMI Cancellation Act)
TILA/RESPA Integrated Disclosure Rule (TRID)
URLA: 6. Acknowledgement and Agreement

Thursday, March 19

Evaluating the 1003: Loan Options, Credit Scoring and Reporting

Connecting with your customer
Understanding customer goals
Helping customers select loan options
Credit reporting
Credit scoring
The impact of credit on customers and transactions

Tuesday, March 24

Supporting Documentation

Documentation overview
Best practices in reviewing supporting documents
Verifications
Documenting the transaction
Documenting the applicant
Best practices for submitting documentation
Documentation and the URLA

Thursday, March 26

Quiz #6

Role of the MLO, The Loan Application, Compliance in Loan Origination, Evaluating the 1003, Supporting Documentation

Tax Returns and Qualifying Income

General rules for calculating and documenting
qualifying income
Calculating income like an underwriter
Personal tax returns: Form 1040
Business tax returns: Forms 1065, 1120, and 1120S

Tuesday, March 31

Tax Returns and Qualifying Income

No Class - catch up on your quizzes, get ahead on reading material

Thursday, April 2

Traditional and Non-Traditional Products

Amortization and loan term
Mortgage loan programs
Fixed-rate vs. adjustable-rate mortgages
How ARMs work
ARM payment options: fully-amortizing, interest-only, deferred interest (negative amortization)
Other loan products: HELOCs, home equity loans, balloon loans, and construction loans
How loan products contributed to the financial crisis and the regulatory response
Best practices for protecting consumers

Tuesday, April 7

Pricing and Rate Locks

Pricing overview
Pricing terminology
Risk-based pricing
Rate locks

Thursday, April 9

Structuring Mortgage Transactions

Primary considerations of the loan decision
Understanding the property
Structuring the transaction
Selecting the right loan program
Restructuring the transaction

Tuesday, April 14

Marketing, Loan Origination Case Study Super Session

Best practices
People
Activities
Ratios
Monthly mortgage payments
Self-employed borrowers
Credit scores, qualifying, and rates
Second homes
Calculations
Lender credit
Conventional vs. FHA

Thursday, April 16

Quiz #7

Tax returns and qualifying income, traditional and non-traditional products, pricing and rate locks, structuring transactions

Opens April 17

All quizzes close

Complete all quizzes by this date

Quizzes close midnight, April 24

Graduation and Networking Event

Industry Guest Appearances, Insights from the Leaders, next steps for job and career fair

Thursday, April 30