Mortgage Servicing 101 - "The Essentials"

The Mortgage Servicing 101 – “The Essentials” course will teach students about mortgage servicing and its many variables such as the life of the loan, closing documentation, payment processing, default servicing, investor accounting and reporting, escrow management and much more. 

COURSE OUTLINE:

  • Mortgage Banking Lifecycle
  • Origination Process
  • Mortgage Documents Signed at Closing
  • Mortgage Insurance
  • Escrow Accounts
  • Secondary Mortgage Market
  • Key Servicing Tasks
  • Default Servicing
  • 10-Question Practice Quiz

Price - $199.00 Sale - $99.00

Mortgage Servicing Laws - “The Essentials”

The Mortgage Servicing Laws - “The Essentials” course will teach students about the regulations and regulators that govern mortgage servicing. We will will review different scenarios, which will show how a servicer can be in violation of different acts. 

COURSE OUTLINE:

  • What is Mortgage Servicing
  • Consumer Financial Protection Bureau
  • State Regulators
  • Investor/Insurer
  • Regulation Z
  • Regulation X
  • Regulation E
  • Regulation F
  • 10-Question Practice Quiz

Price - $199.00 Sale - $99.00

Servicing Investors - "Compare & Contrast"

The Servicing Investors - "Compare & Contrast" course will discuss the purpose of each servicing investor and the difference of each. We will also discuss some of the timelines as it relates to mortgage servicing that are imposed on servicers when servicing government-sponsored enterprises (GSE) loans.

COURSE OUTLINE:

  • Servicing Investors Overview
  • GSE's
  • Non-GSE’s
  • Federal Housing Authority
  • US Department of Veteran Affairs
  • US Department of Agriculture
  • Private Mortgage
  • Servicing Investors Comparison
  • 10-Question Practice Quiz

Price - $199.00 Sale - $99.00

Servicing Payment Processing - "Complete Review”

The Servicing Payment Processing - "Complete Review” course will discuss the various correspondences and annual statements regulated by the Consumer Financial Protections Bureau (CFPB) that should be sent to the consumer as it relates to the life of the loan. We will also discuss Mortgage Insurance, fees related to non-payment and much more.

COURSE OUTLINE:

  • Servicing payment processing overview
  • Life Cycle of a Loan
  • Documents as required by CFPB
  • Annual Statements (1099/1099)
  • Mortgage Insurance Overview
  • Mortgage loan related fees
  • Credit Reporting
  • Loan Payoff review
  • 10-Question Practice Quiz

Price - $199.00 Sale - $99.00

Servicing Quality Control - "Understanding Audits"

The Servicing Quality Control - "Understanding Audits" course will briefly discuss the home ownership crisis that lead to government regulation on Mortgage Servicing and the action that immediately followed this crisis. We will discuss the importance of the audit and compliance process, general audit requirements and much more.

COURSE OUTLINE: 

  • Understanding Audits
  • Government Impact on Servicing
  • Impact on Servicing - Audit Process
  • Investor Audit Control Requirements
  • General Audit Requirements
  • Requirement Examples
  • CFPB Checklist Summary
  • Sample Assessment Document
  • 10-Question Practice Quiz

Price - $199.00 Sale - $99.00

Servicing Transfer & Sale of a Loan - "Step-by-Step"

The Servicing Transfer & Sale of a Loan - "Step-by-Step" course will discuss the steps taken when servicing is transferred to another servicer and/or investor. We will also discuss the communication that goes out to the customer during these processes and the oversight regulated by the Consumer Financial Protections Bureau (CFPB)..

COURSE OUTLINE:

  • Servicing Transfer Overview
  • Planning for Servicing Transfer
  • Investor Approval
  • Regulatory Oversight
  • Servicing Transfer/Goodbye letter example
  • Welcome Calls
  • Loan Boarding Process
  • Payment Processing
  • Customer Experience
  • Servicing Transfer Process Recap
  • 10-Question Practice Quiz

Price - $199.00 Sale - $99.00