This processing class provides each student with a solid knowledge of mortgage loan processing. The course is 10 hours of material conducted over 10 sessions. As with all MTI online courses, the class is conducted in streaming video, using the MTI dual-stream educational system.
Each student will participate in online exercises and can use the discussion area to communicate directly with the instructor or other MTI instructors. The course tests each student on their knowledge of the subject and provides a frame-able completion certificate.
If your looking to learn how to effectively process a mortgage loan, this is the course you're looking to take!Topics Covered Include:
- Mortgage terminology and processing time lines
- Identifying various sources of income and proper calculations
- Calculating tax return income
- Figuring liabilities and debt-to-income ratios
- Verifications and support documentation
- Properly reading the appraisal report
- Packaging a file for submission
- Clearing conditions and "red flags" that underwriters look for
- Difference between DU and LP, and how to effectively submit files to each
- Title reports and appraisals
- FNMA Underwriting Findings Report and FHLMC Feedback Certificate
- Final 1003 and 1008
- And, much more!