PLEASE NOTE: MBA Education will be transitioning to a new learning platform in June 2020. We strongly suggest that you complete your course(s) before Friday, June 19, 2020. Progress in any courses that are not completed as of the transition date will be lost and you will need to start from the beginning of your course(s) in the new platform.
If you think you will be unable to complete your courses before Friday, June 19, we recommend that you delay your registration until the transition is complete.This course is only for purchase through a corporate training agreement OR through the purchase of the Level II package of the Commercial Servicing Certificate Program
This is a commercial/multifamily series course, a component of the Level II Commercial Servicing Certificate Program.
A servicing agreement is a written agreement between a lender/investor and a mortgage servicer spelling out the rights and obligations of each party. An understanding of the various types of servicing agreements and the key clauses of these contracts is vital for successful commercial/multifamily servicing.
CMF Servicing Agreements begins with a broad overview of servicing agreements used in commercial/multifamily lending, describing the purpose of servicing agreements, types of servicing agreements, and routine and non-routine duties and responsibilities addressed in servicing agreements, including those that are servicer-initiated and those that are borrower requests.
The series then covers information on pooling and servicing agreements (PSAs), from the basics to specific elements, approval process requirements, and subservicing agreements. From there it discusses agency servicing agreements with Fannie Mae, Freddie Mac, Ginnie Mae, as well as HUD/FHA.
Finally, the series talks about portfolio servicing agreements, outlining servicer responsibilities and correspondent requirements. A description of each type of servicing agreement, along with common provisions and approval process requirements related to each type, are provided.
Upon completion of this course, learners should be able to:
- Summarize the purpose and general contents of servicing agreements.
- Describe key provisions of pooling and servicing agreements as they apply to commercial/multifamily servicing.
- Discuss key clauses of agency servicing agreements as they apply to commercial/multifamily servicing.
- Outline key obligations of portfolio servicing agreements as they apply to commercial/multifamily servicing.
CMF Servicing Agreements Fundamentals
- Basics of Commercial/Multifamily Servicing Agreements
- Servicer-Initiated Activities
- Borrower Requests
- Commercial/Multifamily Servicing Transfers
CMF Pooling and Servicing Agreements
- Basics of Commercial/Multifamily Pooling and Servicing Agreements
- Important Elements of the PSA
- Approval Process Requirements
- Subservicing Agreements
CMF Agency Servicing Agreements
- Basics of Agency Multifamily Servicing Agreements
- Fannie Mae Agreements
- Freddie Mac Agreements
- Ginnie Mae Agreements
- HUD/FHA Agreements
CMF Portfolio Servicing Agreements
- Basics of Commercial/Multifamily Portfolio Servicing Agreements
- Outlining Servicer Responsibilities
- Additional Servicer Responsibilities
- Correspondent Requirements