Mortgage Fundamentals

Mortgage Fundamentals provides new mortgage professionals with comprehensive industry education in a self-paced format that is engaging, informative and effective.  Mortgage Fundamentals is the new standard for introductory mortgage education.

The Mortgage Fundamentals program is specifically designed for successful career entry.  With a strong orientation towards purchase market originations, aspiring loan officers will learn and apply the concepts necessary to accurately prequalify borrowers and take a loan from beginning to end.  In addition, they will learn the mechanics of originating loans from analyzing a credit report, to calculating payments and closing costs. 

Beyond the mechanics, students receive the fundamentals of mortgage loan program guidelines, how to take a complete loan application and how to document each loan file.

Interactive learning modules demonstrate how to provide effective customer service and successfully market and sell and wide variety of mortgage products.  Students will develop the knowledge necessary to understand how each customer’s unique financial situation impacts their mortgage qualification, and how to advise customers on the best loan program for their needs.

Loaded with approximately 40 hours of mortgage industry education, the course is broken down into 22 lessons on a variety of mortgage origination topics.  Quizzes at the end of each lesson and a comprehensive final exam ensure that the material has been absorbed and is understood. 

The program provides  a working knowledge of: 

    • The mortgage industry and role of mortgage originator.
    • The requirements for licensure as a mortgage originator.
    • The components and calculations of a mortgage payment.
    • The flow of a loan file from prequalification through post-closing.
    • Calculations and guidelines for borrower pre-qualification.
    • Mechanics and underwriting guidelines for conventional loans.
    • Mechanics and underwriting guidelines for FHA government loans.
    • Mechanics and underwriting guidelines for VA guaranteed loans.
    • Overview of other common loan programs, including USDA, Reverse Mortgages, and Non-Traditional Mortgages
    • Federal lending laws as they pertain to mortgage financing.
    • Analyzing and interpreting a tri-merge credit report.
    • Mathematical calculations related to mortgage financing.
    • Completing a Uniform Residential Loan Application.
    • Loan file documentation requirements.
    • Understanding the needs of a specific borrower; recommending the appropriate loan program.
    • Calculating borrower closing costs; regulated disclosures.
    • Reviewing appraisal reports; and
    • Completing the Loan Estimate and Closing Disclosure.
    • Sales Development and Professionalism

This course, while providing an excellent foundation in mortgage origination, is not approved by the NMLS and does not fulfill SAFE Act Pre-Licensing requirements