Mortgage Lending Basics
Version History
Version
Date
Change
1.0
June 23, 2023
n/a
Content Outline
Module 1: Mortgage Lending Overview and Terms
Mortgage Definition
Mortgage Lending Overview
Mortgage Lending Terms
Mortgage Lending Lifecycle Overview
Mortgage Origination Process Overview
Mortgage Processing Overview
Mortgage Underwriting Overview
Mortgage Closing Overview
Mortgage Post-Closing Process Overview
Roles in the Mortgage lifecycle
Module 2: Mortgage Loan Characteristics
Transaction Types
Property Types
Occupancy Types
Loan Program Basics
Conventional Loan Programs
Introduction to FNMA & FHLMC
Government Loan Programs
Portfolio Loan Programs
Pre-Approvals in Mortgage Lending
Module 3: Important Mortgage Ratios
Debt Service Coverage Ratio (DSCR) basics
Principal, Interest, Taxes, Insurance and Association Dues (PITIA) basics
Loan to Value (LTV) ratio basics
Debt to Income (DTI) ratio basics
Module 4: Federal Laws and Regulations
Overview of federal laws and regulations that impact the mortgage industry
Truth in Lending Act (TILA)
Real Estate Settlements and Procedures Act (RESPA)
Equal Credit Opportunity Act (ECOA)
Home Mortgage Disclosure Act (HMDA)
Fair Credit Reporting Act (FCRA)
Dodd-Frank Wall Street Reform and Consumer Protection Act
Compliance with the Consumer Financial Protection Bureau (CFPB)
Module 5: Glossary