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

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