Comprehensive Mortgage Lending Correspondence Course

Teacher: Admin User

This Course has been approved by the Texas Savings and Loan Department to satisfy the state of Texas' 18 credit hour "Core & CE" requirement for continuing education for both newly licensed, as well as experienced Mortgage Brokers and Loan Officers. The course comprises a 186 pages book "On-line" and it covers key concepts used in the Residential Mortgage Industry, covering the core vocabulary, principles, techniques, nomenclature and financial instruments in lay-man terms, so that our Loan Brokers/Loan Officers can easily grasp and understand the concepts and communicate with lenders and borrowers in the real world, in the most effective and winning manner. In addition, the course covers other vital components of the mortgage and lending business such as Sources of Money, Loan Origination, Loan Processing, Underwriting Guidelines, the creation, completion and analysis of a Residential Loan Application, Credit Report and Appraisal Report, all of which are critical components of creating a complete and thorough Residential Mortgage Loan Package. Finally, the course briefly covers sales and marketing concepts designed to help you effectively deliver your services to your present and future clients.

The Cycle of Money in Residential Mortgage Lending

Teacher: Admin User

The money cycles in Residential Mortgage Lending industry are created by the Secondary Mortgage Markets, which are designed to deal in real estate mortgages. In Secondary markets the mortgages are bought from the loan originators and are sold to investors or pooling them to enlarge the markets for these types of securities. The mortgages are purchased from primary lenders also known as loan originators, the money generated acts to replenish the money supply necessary for continued lending activities. This phenomenon provides continuous liquidity to the primary markets. The major players in the money cycle activities in the Secondary markets are Fannie Mae and Freddie Mac. These two major players purchase close to 70% of the mortgages originated in the primary markets, which are sold the private investors and this helps to recycle the funds which help the funds to move from the cash rich areas to the cash poor areas.

The money cycles will help mortgage brokers and loan officers to understand how the funds are created and by selling and buying existing mortgages and does this phenomenon help to keep the mortgage industry liquid.