This is a single-family/residential course.
Loan Production Basics presents an overview of the loan production process. It begins with a review of the three main goals of loan production: creating investor acceptable loans, protecting the consumer, and ensuring compliance.
After taking a broad look at the functions of loan production, the course takes a closer look at important concepts, responsibilities, and strategies for success related to the roles of origination, processing, underwriting, and closing.
From there the course looks at common loan programs and financing terms, including conventional, FHA, VA, jumbo, and Alt-A loan programs. It will also look at affordable housing programs and financing methods such as fixed and adjustable rate mortgages, balloon mortgages, graduated payment mortgages, growing equity mortgages, buydowns, and bi-weekly mortgages.
Finally, the course looks at the laws and regulations that impact loan production: ECOA, Fair Housing, TILA, RESPA, HMDA, HOEPA, and SAFE. It will also take a look at predatory lending practices to be aware of and end with an interview with an industry expert.
- Goals of Loan Production
- Functions of Loan Production
- Loan Programs and Financing Methods
- Complying with Regulations
- Interview with an Expert
Seat time approximately one (1) hour.