Lending – Mortgage 101

Course Overview: Understanding the Mortgage Process

This 3.0 CE-hour course is designed to equip licensees with a comprehensive understanding of the mortgage process, loan products, and how to better assist their clients in securing a mortgage.

Hour 1: The Mortgage Process, the instructor will guide students through the key steps involved in obtaining a mortgage. This includes understanding what borrowers need before applying, what lenders require from the licensee during the application process, and the lender’s role during closing. Additionally, students will learn about the post-closing phase, including first payments, pre-paids, and other critical considerations.

Hour 2: Mortgage Products will focus on different types of loan programs available to borrowers. The instructor will cover conventional loans, FHA and VA loans, USDA loans, jumbo loans, refinancing options, and reverse mortgages. This session aims to provide licensees with a well-rounded understanding of various financing options to better serve their clients.

Hour 3: Understanding Mortgages to Better Serve Clients, the course will delve into key areas where licensees can assist their clients. Topics include identifying and reporting mortgage fraud, understanding and explaining the Closing Disclosure, and utilizing document checklists to help clients prepare for the loan process.

Throughout the course, students will participate in practical exercises to reinforce their learning and demonstrate proficiency in the mortgage process. This interactive approach ensures that licensees gain the knowledge and skills needed to guide their clients effectively through the home financing journey.

GREC Approved Course Code 78291 for 3.0 CE Hours.