NAMB/MMA COURSE DESCRIPTIONS

1010 Residential Mortgage Lending or RML
1020 SubPrime Lending
1040 ABCs of FHA Lending
1050 203 (k)
1070 Reverse Mortgages
1090 Construction to Permanent Lending
2010 The Nation's Fair Lending Laws
2020 Real Estate Settlement Procedures Act
2030 Truth In Lending Act
3010 Protect Your Business: The Customer, the Law and You
3020 Shedding Light on Credit Scoring
4010 Mortgage Broker Business Ethics
4020 Marketing Your Services, Marketing Yourself
5020 Introduction to Commercial Lending

1010 Residential Mortgage Lending or RML

The RML School is a 24-hour, comprehensive training course designed to reinforce the basics of conforming residential mortgage loan origination. The School focuses on the documents, processes and regulations involved in residential mortgage lending, specifically:

Mortgage Industry Overview, Types of Mortgage Loans. Mortgage Origination and Regulations, Pre-Qualifying the Borrower, Taking the Residential Loan Application, Underwriting Standards, Packaging a Mortgage Loan, Loan Documentation, Appraisals and the Valuation Process, Analysis of Loan Turn Downs,
Aspects of Loan Closing, Loan Servicing, Economics of the Secondary Market .

Why should I attend?
The RML School teaches broad-based knowledge of the mortgage lending process through practical application and intensive study of the loan cycle. Each job function in loan origination is explored– from application through servicing and the secondary market.

Course Text:
Residential Mortgage School Participant Manual

The training format of the RML School is highly interactive and is designed to explore complex topics through lecture, group activity and instructor-led discussions.

Education Credits: 24 CEUs

1020 SubPrime Lending

This course will help students to develop basic knowledge and skills in SubPrime lending products such that the participant will be able to originate, process, and/or underwrite SubPrime mortgage loans within compliance of all applicable federal laws.

Upon completion of the SubPrime Lending course, participants should be able to:

Explain why SubPrime lending increases lending opportunity for more borrowers ,Identify general funding resources for SubPrime lending, Explain borrower credit guidelines for SubPrime lending , Analyze borrower credit profile and accurately determine borrower's credit grade, Explain how SubPrime lending credit grading is determined, Explain how "risk" determines "rate" in SubPrime lending, Define what is meant by "loan loss reserves" , Explain why mortgage insurance is not needed in a SubPrime loan program, Identify the major collateral considered in SubPrime lending,
Name at least 3 SubPrime lending programs and describe their features and benefits

Education Credits: 4 CEUs.

1040 ABCs of FHA Lending

This course covers: How to properly and accurately originate an FHA loan, accurately preparing a Good Faith Estimate with allowable closing costs, MIP, and calculating maximum mortgage amounts. Learn "loan underwriting" and "subject property" lending criteria, processing the FHA loan - forms; automate by using technology, Marketing ideas for FHA loans to maximum profits, Current HUD compliance and regulatory issues, and hands-on case studies and practice scenarios.
Education Credits: 8 CEUs.

1050 203 (k)

This course clarifies interpretation of Mortgagee Letter 00-25 based on feedback from HUD officials. A very important course for DE Underwriters including M&T Case Study Examples, through the completion of both a purchase and refinance maximum mortgage worksheet, with special emphasis on understanding the "renovation lending" terminology.

This course is provided by M&T Mortgage Corporation.
Education Credits: 4 CEUs.

1070 Reverse Mortgage

Reverse mortgage program for people 62 and older. This course will show you how to offer alternative financial solutions to your established customers that enables them to receive payouts from the built up equity in their home.

This course is generously provided by Wells Fargo.
Education Credits: 4 CEUs.

1090 Construction to Permanent Lending

This course covers the basics in regards to construction to permanent lending. Information regarding the multitude of options available in the construction to perm market helps brokers make informed choices in developing a construction-lending program that best suits their company objective.

This course is provided by M&T Mortgage Corporation.
Education Credits: 4 CEUs.

2010 The Nation's Fair Lending Laws
This 4 hour course discusses the federal laws related to fair lending - Equal Credit Opportunity Act (ECOA), Fair Housing Act (FHA), Home Mortgage Disclosure Act (HMDA), and Interagency Policy Statement on Fair Lending. Instructional content includes:

ECOA definitions and application rules, ECOA and the Uniform Residential Loan Application (1003), HMDA Purposes & Exemptions, FHA Advertising Regulation, FHA Rental, Sale & Transaction Definitions, FHA Examples of Discrimination, Case Review of Discrimination Lawsuits

Course Text:
Fair Lending Participant Manual; includes sections of Fair Lending document.

Education Credits: 4 CEUs

2020 Real Estate Settlement Procedures Act
This 4 hour course discusses RESPA and its Regulation X, and explores the Federal Reserve's Federal Register - reviewing comments and explanations. Course lecture specifically addresses:

Good Faith Estimate Requirements, Information Booklet "Settlement Guide", HUD-I and HUD-IA Settlement Statement, Prohibitions and Kickbacks, Affiliated Business Arrangements, Aggregate Accounting for Escrows, Servicing Disclosure

Education Credits: 4 CEUs

2030 Truth In Lending Act
This 4 hour course discusses the Truth In Lending Act, its Regulation Z, and the Commentary to Regulation Z. Course lecture specifically addresses:

Open End Credit - Home Equity Lines, Closed End Credit - most mortgages, Home Ownership Equity Protection Act (HOEPA), Reverse Mortgage Disclosures.

A group activity is performed helping individuals to determine what should be included in the APR.

Course Text:
TILA Participant Manual; includes section of the Act.

Education Credits: 4 CEUs

3010 Protect Your Business:
The Customer, the Law and You
Protect Your Business is the result of a training partnership between the NAMB and Countrywide, America's Wholesale Lender.

This 8-hour workshop contains the vital elements necessary to establish a team loan building network between the wholesale lender and the mortgage broker, promoting fair lending compliance through strategies which facilitate customer service that brings deals back and boosts referrals!

Every mortgage professional will value this course – mortgage broker, account executive, underwriter, loan processor, closing agent -- everyone! This course promotes understanding of the human side of the lending process and the business behaviors that will likely stimulate increased business for all!

Fair lending is the law: winning business is the result of effective fair lending practice! Enroll in this course and learn how to accomplish both fair lending compliance and effective customer service. Content discusses:

Fundamental Skills and Knowledge Analyzing Property & Loan Amount

Customer Service, Communication & Fair Lending

• Reality of Customer Perceptions
• Disparate Treatment & Disparate Impact
• Real Life Examples
• Handling Customer Inquiries
• Counseling Aspects of Loan
• Program Selection & Pricing

Fair Lending and Business Opportunity

• What Is Fair Lending?
• Identification of Business Opportunities

The Application Process & The Law

• Who's Watching?
• Mortgage Reform
• Pre-Qualification & Oral Applications
• Completing the Application - ECOA, FHA, & HMDA
  compliance
• Underwriting Actions
• Data Accuracy

The Lender/Broker "Team"

• Working Together To Build Business

Course Text:
Protect Your Business Participant Manual; includes case studies and worksheets.

Education Credit: 8 NAMB CEUs

3020 Shedding Light on Credit Scoring
This seminar provides you with a basic understanding of credit scores and gives a set of risk factors used in determining the score. It includes a discussion of FICO bureau scores and MDS bankruptcy scores, evaluating a score to industry guidelines, and compensating factors.

Education Credits: 4 CEUs

3020 Credit Scoring

This seminar provides you with a basic understanding of credit scores and gives a set of risk factors used in determining the score.  It includes a discussion of FICO bureau scores and MDS bankruptcy scores, evaluating a score to industry guidelines and compensating factors.

Education Credits: 4 CEUs

4010 Mortgage Broker Business Ethics
As regulatory pressure continues to promulgate business practices, mortgage broker business ethics becomes an essential mechanism to promote professionalism, develop regulator and legislator respect, and gain consumer confidence.

Mortgage Broker Business Ethics explores the basic concept of ethics in relation to business judgment and practice. The internal and external decision-making process of mortgage professionals is discussed with regard to job performance, consumer pressures, and industry competition. Concepts taught include:

Definitions of Ethics
Personal Values and Ethical Decision-Making
Self-Exploration of Ethical Compromise
NAMB Code of Ethics
Difference Between Law and Ethics
Decision-Making in Business Transactions
Ethics of Disclosure throughout Loan Origination
Solving Ethical Problems Related to Loan Transaction Decisions
Industry Teamwork and Ethics in Decision-Making

Mortgage Broker Business Ethics incorporates public complaints filed with state regulators as case studies for group discussion. Within small groups, participants are instructed to reach consensus on each case study presented. Group consensus must be reached determining whether the resulting decision was: ethical, unethical, or debatable. The goal is to promote decisions that support standards of good business practice while ultimately leading to the development of positive public image and respect of the mortgage brokerage profession.

This course is 4 hours. However, it is often taught at various state association conferences as a 90-minute concurrent session.*

Education Credits: 4 CEUs
* 90-minute concurrent session does not earn CEUs

4020 Marketing Your Services, Marketing Yourself
Salesmanship, business networking, customer service, and communication skills are all-important elements in successful marketing of the mortgage professional's products and services.

As a mortgage professional, you understand that marketing your business and products requires more than an in-depth knowledge of the technical skills of mortgage loan origination. You understand that building relationships - with borrowers, co-workers, and related industry affiliates - increases your opportunities for success.

Marketing Your Services, Marketing Yourself! reflects the collaborative effort between NAMB and United Guaranty Residential Insurance Company – headquartered in Greensboro, NC. This course represents a true industry partnership in training and development, specifically targeted to assist professional loan officers and all members of your loan production team to gain the skills and knowledge necessary to achieve success in your business marketing efforts.

Marketing Your Services, Marketing Yourself! Is an 8-hour training workshop containing many practical, individualized exercises and interactive group activities. In this course, you will learn:

Effective Salesmanship
Communication Skills and Social Style
Networking and Teamwork
Market Plan Development, Implementation, and Maintenance

Education Credits: 8 CEUs

5020 Introduction to Commercial Lending
Commercial Mortgage Brokering is an 8-hour course designed to teach the basic skills and knowledge required in commercial loan brokering. Course contents include:

Comparison-Commercial to Residential Lending
Sources of Commercial Loan Financing
Commercial Vocabulary
Commercial Property Types
Commercial Loan Types
Commercial Lending Guidelines
Underwriting

• Net Operating Income (NOI)
• Debt Service Coverage (DSC)
• Loan-To-Value (LTV)
• Loan-To-Cost (LTC)

Education Credits: 8 CEUs