COURSE DESCRIPTIONS
Training is intended for any person who has attained a high school diploma or high school equivalency certificate. The Mortgage Training Group offers the following twelve (12) programs.
Upon completion of these programs, graduates are prepared to pursue entry to advanced-level positions in the mortgage-lending field.
Click here to see the start dates of each program.
Loan Processor / Loan Officer
120 Hours/13 Weeks
Description
This program prepares graduates to pursue careers as entry-level processors and originators.
Requirements
- Class attendance and participation in class discussion
- Reading assignments and related homework
Course Objectives (Learning Outcomes)
Upon completion of this program, students should be able to comprehend the loan process from origination through funding. Program is designed to enable student to obtain entry level position in either origination, processing, underwriting, funding or investor delivery.
Sequence of Instruction |
Week 1 |
Day |
Activities |
1 |
Industry overview
Terminology |
2 |
Anatomy of a loan
Real Estate Calculations |
Week 2 |
Day |
Activities |
1 |
Industry and conventional loan overview |
2 |
Anatomy of loan |
3 |
FNMA/FHLMC programs, guidelines, and jumbo conduit financing |
Week 3 |
Day |
Activities |
1 |
Calculations, financing mathematics, and related subjects |
2 |
Second mortgages, sub-prime lending |
3 |
Review and test |
Week 4 |
Day |
Activities |
1 |
FHA/VA programs |
2 |
FHA/VA programs and credit guidelines |
3 |
FHA/VA property standards and pricing |
Week 5 |
Day |
Activities |
1 |
FHA/VA insuring guidelines and pricing |
2 |
Regulatory forms and compliance disclosures |
3 |
Review and test |
Week 6 |
Day |
Activities |
1 |
Input of conventional loan/regulatory disclosure |
2 |
Input of second trust deed, FHA loan/regulatory disclosure |
3 |
Desktop origination |
Week 7 |
Day |
Activities |
1 |
Initial disclosure/regulatory compliance |
2 |
Appraisal review |
3 |
Review of preliminary title report
Escrow instructions
Purchase Contract |
Week 8 |
Day |
Activities |
1 |
Asset verification
Income documentation |
2 |
Qualification/credit analysis |
3 |
Review and completion of 1003/1008 submission sheet |
Week 9 |
Day |
Activities |
1 |
Marketing techniques
Streamline refinances
Cash-out refinances
Rate and term refinances |
2 |
Loan to value calculation
Escrow/title interface
Review of estimated closing statements |
3 |
Loan costs
Reading rate sheets to price loan
Regulatory disclosures for refinance |
Week 10 |
Day |
Activities |
1 |
Income analysis |
2 |
Income analysis |
3 |
FNMA/FHLMC underwriting guidelines
Regulatory compliance/disclosure |
Week 11 |
Day |
Activities |
1 |
Appraisal/property disclosure standards |
2 |
Escrow instructions
Deposit receipt/purchase contract |
3 |
Assets/income documentations
Self-employed borrower
Credit analysis/liabilities/loan analysis
Issuance of condition sheet |
Week 12 |
Day |
Activities |
1 |
Lock in/secondary market requirements |
2 |
Document draw
Payment date configuration
Escrow account parameters |
3 |
Review of note, deed of trust, Truth in Lending (APR), recission, state and federal disclosures, RESPA |
Week 13 |
Day |
Activities |
1 |
Required documents
Tax service
Flood certification
Escrow accounts (impounds)
Notary practices |
2 |
Release of documents to escrow
Review of returned, signed documents
Conditions
Insurance requirements |
3 |
Disbursement funds to escrow/title
HUD review and test |
Back to top
Basic Mortgage Lending
12 Hours/1 Week
Description
This program prepares graduates to pursue careers as entry-level processors and originators.
Requirements
- Class attendance and participation in class discussion
- Reading assignments and related homework
Course Objectives (Learning Outcomes)
Upon completion of this program, students should be able to understand terminology and basic mortgage calculations.
Sequence of Instruction |
Week 1 |
Day |
Activities |
1 |
Industry overview
Terminology |
2 |
Anatomy of a loan
Real Estate Calculations |
Back to top
Conventional Loans
18 Hours/2 Weeks
Description
This program prepares graduates to pursue careers as Conventional processors and originators. Employment level upon graduation ranges from entry-level to mid-level depending on experience prior to program enrollment.
Requirements
- Class attendance and participation in class discussion
- Reading assignments and related homework
- Tests and laboratories
Course Objectives (Learning Outcomes)
Upon completion of this program, students should be able to read rate sheets and process and originate conventional loans.
Sequence of Instruction |
Week 1 |
Day |
Activities |
1 |
Industry and conventional loan overview |
2 |
Anatomy of loan |
3 |
FNMA/FHLMC programs, guidelines, and jumbo conduit financing |
Week 2 |
Day |
Activities |
1 |
Calculations, financing mathematics, and related subjects |
2 |
Second mortgages, sub-prime lending |
3 |
Review and test |
Back to top
FHA, VA, and Regulatory Disclosures
18 Hours/2 Weeks
Description
This program prepares graduates to pursue careers as FHA and VA processors and originators. Employment level upon graduation ranges from entry-level to mid-level depending on experience prior to program enrollment.
Requirements
- Class attendance and participation in class discussion
- Reading assignments and related homework
- Tests and laboratories
Course Objectives (Learning Outcomes)
Upon completion of this program, students should be able to process and originate FHA and VA loans
Sequence of Instruction |
Week 1 |
Day |
Activities |
1 |
FHA/VA programs |
2 |
FHA/VA programs and credit guidelines |
3 |
FHA/VA property standards and pricing |
Week 2 |
Day |
Activities |
1 |
FHA/VA insuring guidelines and pricing |
2 |
Regulatory forms and compliance disclosures |
3 |
Review and test |
Back to top
Mortgage Software Training
9 Hours/1 Week
Description
This course equips students with the skills necessary to effectively navigate and use the Calyx Point software.
Requirements
- Class attendance and participation in class discussion
- Reading assignments and related laboratories
Course Objectives (Learning Outcomes
Upon completion of this program, students will be able to input conventional, FHA/VA loans and perform desktop origination via the internet.
Sequence of Instruction |
Week 1 |
Day |
Activities |
1 |
Input of conventional loan/regulatory disclosure |
2 |
Input of second trust deed, FHA loan/regulatory disclosure |
3 |
Desktop origination |
Back to top
Advanced Processing
18 Hours/2 Weeks
Description
This program is an in-depth review of sample loan documents from origination to submission.
Requirements
- Class attendance and participation in class discussion
- Reading assignments and related homework
- Tests and laboratories
Course Objectives (Learning Outcomes)
Upon completion of this program, students will be able to successfully review, revise, and execute sample loan documents from origination to submission.
Sequence of Instruction |
Week 1 |
Day |
Activities |
1 |
Initial disclosure/regulatory compliance |
2 |
Appraisal review |
3 |
Review of preliminary title report
Escrow instructions
Purchase Contract |
Week 2 |
Day |
Activities |
1 |
Asset verification
Income documentation |
2 |
Qualification/credit analysis |
3 |
Review and completion of 1003/1008 submission sheet |
Back to top
Refinance
9 Hours/1 Week
Description
This program prepares graduates to pursue careers in refinance departments of financial institutions.
Requirements
- Class attendance and participation in class discussion
- Reading assignments and related homework
- Tests and laboratories
Course Objectives (Learning Outcomes)
Upon completion of this program, students will be able to successfully execute a refinanced mortgage.
Sequence of Instruction |
Week 1 |
Day |
Activities |
1 |
Marketing techniques
Streamline refinances
Cash-out refinances
Rate and term refinances |
2 |
Loan to value calculation
Escrow/title interface
Review of estimated closing statements |
3 |
Loan costs
Reading rate sheets to price loan
Regulatory disclosures for refinance |
Back to top
Conventional Underwriting
18 Hours/2 Weeks
Description
This program prepares graduates to pursue careers as residential mortgage underwriters.
Requirements
- Class attendance and participation in class discussion
- Reading assignments and related homework
- Tests and laboratories
Course Objectives (Learning Outcomes)
Upon completion of this program, students will be able to analyze credit reports, assets, and liabilities, interpret balance sheets and profit/loss statements, and underwrite FNMA and FHLMC loans.
Sequence of Instruction |
Week 1 |
Day |
Activities |
1 |
Income analysis |
2 |
Income analysis |
3 |
FNMA/FHLMC underwriting guidelines
Regulatory compliance/disclosure |
Week 2 |
Day |
Activities |
1 |
Appraisal/property disclosure standards |
2 |
Escrow instructions
Deposit receipt/purchase contract |
3 |
Assets/income documentations
Self-employed borrower
Credit analysis/liabilities/loan analysis
Issuance of condition sheet |
Back to top
Funding
18 Hours/2 Weeks
Description
This program prepares graduates to pursue careers in funding departments of financial institutions.
Requirements
- Class attendance and participation in class discussion
- Reading assignments and related homework
- Tests and laboratories
Course Objectives (Learning Outcomes)
Upon completion of this program, students will be able to explain the legal issues of the funding process and demonstrate competency regarding secondary market requirements. Students will be able to configure payment due dates, schedule payoffs, and assure quality control in the funding process.
Sequence of Instruction |
Week 1 |
Day |
Activities |
1 |
Lock in/secondary market requirements |
2 |
Document draw
Payment date configuration
Escrow account parameters |
3 |
Review of note, deed of trust, Truth in Lending (APR), recission, state and federal disclosures, RESPA |
Week 2 |
Day |
Activities |
1 |
Required documents
Tax service
Flood certification
Escrow accounts (impounds)
Notary practices |
2 |
Release of documents to escrow
Review of returned, signed documents
Conditions
Insurance requirements |
3 |
Disbursement funds to escrow/title
HUD review and test |
Back to top
Loan Officer Sales and Marketing
6 Hours/1 Week
Description
This program is designed for loan originators who wish to develop sales and marketing skills.
Requirements
- Class attendance and participation in class discussion
Course Objectives (Learning Outcomes)
Upon completion of this program, students will be able to successfully market loans.
Sequence of Instruction |
Week 1 |
Day |
Activities |
1 |
Market penetration
Points
Presentation skills
Seminar development
Territory management
Loan officer responsibilities |
Back to top
Income Analysis
6 Hours/1 Week
Description
This program is designed for students to analyze a prospective client’s income to prepare for a loan program
Requirements
- Class attendance and participation in class discussion
Course Objectives
Upon completion of this program students will be able to successfully analyze an individual’s income.
Sequence of Instruction |
Week 1 |
Day |
Activities |
1 |
Income Analysis |
2 |
Income Analysis |
Back to top
Real Estate Principles
18 Hours/3 Weeks
Description
This program introduces real estate law based upon the California Department of Real Estate guidelines. Upon completion of this program, graduates are prepared to take the California Real Estate exam for a sale license. This program is delivered only through correspondence.
Requirements
Reading assignments and related homework
Course Objectives (Learning Outcomes)
Upon completion of this program, students will be able to take the California Real Estate examination for a sales license.
Sequence of Instruction |
Week 1 |
Day |
Activities |
1 |
The business of real estate
Ownership of property
|
2 |
Contracts
Escrow and title insurance
|
Week 2 |
1 |
Appraisals
Law of agency
|
2 |
Financing
Taxation
|
Week 3 |
1 |
Examination |
Back to top
| |
Loan Processor/Loan Officer |
|
|
| |
Open enrollment
Start any Tuesday |
|
|
Conventional Loans |
Basic Mortgage Lending |
Feb. 7
May 9
Aug. 8
Nov. 14
|
Jan. 31
May 2
Aug. 1
Nov. 7
|
FHA, VA, & Regulatory Disclosures |
Mortgage Software Training |
Feb. 21
May 23
Aug. 22
Nov. 7
|
March 7
June 6
Sept. 5
Dec. 12
|
Advanced Processing |
Refinance |
March 14
June 13
Sept. 12
Dec. 19
|
March 28
June 27
Sept. 26
|
Conventional Underwriting |
Funding |
Jan. 3
April 4
July 5
Oct. 10
|
Jan. 17
April 18
July 18
Oct. 24
|
Back to top
| 
