Loan Processing 101 - The Basics Online Course: ID# 1004770
Price: $395.00
Qty:
About This Course:
"Loan Processor 101 - The Basics" is an in-depth, instructor-led online program on how to process residential mortgage applications.
It is designed to teach the fundamentals of mortgage loan processing to new and seasoned mortgage processors alike.
Course Outline In this course you'll learn about conventional loan calculation, titles, appraisals, credit reports, and more, including:
Mortgage Terminology Processor Duties The Loan Cycle Loan Ratio Calculations Loan Documentation Disclosure Basics (including an in-depth review of the LE) Credit Report Review Automated Underwriting System (DU/LP) Review The Three Verifications (VOE, VOD, VOR/VOM) Purchase Agreements Upon finishing the course you will receive a Certificate of Completion and the skills required to be a successful mortgage processor.
Anticipated Time To Complete This online course will take approximately three hours to complete. You do not have to complete the course in one sitting - there are bookmarks in this course that allow you to stop and restart as needed.
Access Information Upon enrollment, you'll receive an email from the course provider (CampusMortgage®) with links and passwords to access the course. You will have full access to the course for one full year.
Additional Training Recommendation While this course covers the basics of loan processing, our
Loan Processor Boot Camp covers the full gamut of processing needs, including how to calculate Income, DTI, And LTV, review tax returns and appraisals, and more.
Top FAQs A mortgage processor is responsible for assembling, administering, and processing loan application paperwork before it gets approved.
A mortgage processor collects and reviews income, expenses, etc. If the information is favorable, the loan application is forwarded for loan underwriting. Essentially, the process determines the lender's ability to repay the loan.
While Mortgage Loan Officers must be licensed, most states do not require loan processors to be licensed. That said, be sure to check your state's requirements.
Depending on where you live, loan processors can expect to earn $50,000 or more.
