Residential Mortgage Lending Overview Seminar
An historical perspective of mortgage lending is essential for an understanding of modern residential mortgage lending practices. Residential mortgage loans are very complex and lenders offer a wide variety of loan products. Some of these loans may be insured or guaranteed by a government agency and others are not. Residential mortgage loans involve many different documents. There are costs associated with all residential mortgage loans.
This course will include the following information:
• Mortgage loan products and documents
• Types of costs associated with a loan
• Interest, simple interest and amortization
• Fixed-rate and adjustable rate mortgages
• Regulations that affect lending practices
• Steps in the lending cycle
• Analyzing an applicant’s income, assets and debts
• The steps in loan closing
Audience: Personal bankers, customer service representative, supervisors, lenders or anyone interested in learning about residential mortgage lending fundamentals.
Instructor: Elizabeth King