Introduction to Mortgage Finance & Underwriting
-Continuing Education- 

Book Cost: included
(You finish 1/3 of your 22.5 hours of continuing education required by the State.)

Course Outline:

  1. What is a mortgage?
    1. Definition
    2. Financing terminology
  2. Types of mortgages
    1. Conventional-Fixed Federal Home Loan Mortgage Corporation
      (FHLMC), Federal National Mortgage Association (FNMA)
    2. Conventional-Adjustable (FHLMC,FNMA)
    3. Federal Housing Administration (FHA)
    4. Veterans Administration (VA)
    5. Reverse mortgages
    6. Home Equity Loans
    7. Co-op Loans
  3. The Role of the Underwriter (Residential)
    1. Risk Analysis
    2. Qualifying the Borrower
    3. FICO Scores (Fair, Issac & Company)
    4. Income Ratios
    5. Property Loan to Value (LTV)
  4. Types of Mortgages (Commercial)
    1. Conventional (Banks, Insurance Companies)
    2. Conventional Multi-family (FHLMC, FNMA)
    3. Conventional (Mortgage Backed Security (MBS)
    4. Federal Housing Administration (FBA)
    5. Small Business Administration (SBA)
    6. Industrial Development Corporation/Administration (IDC or IDA)
  5. The Role of the Underwriter (Commercial)
    1. Property Type
    2. Risk Analysis
    3. Debt Service Coverage (DSC)
    4. Property Loan to Value (LTV)
  6. The Role of Computers In Underwriting
  7. Summary and Review