Course and Package Description

Along with 1000s of questions and hundreds of pages of material, This course comes with unlimited access to our core live instructor webinars.   No other provider gives you that much in the way of test preparation.

This Course is a Comprehensive Test-Prep for the SAFE Required National Exam.  Why not get all the help you can to prepare!  

It includes: 

• Comprehensive Coursework that follows the national exam outline
• Unlimited practice tests from our database of over 1000 questions!
• Unlimited access to our CORE course webinars
• Hundreds of pages of materials well-organized into over 80 lessons
  
• Each question you answer incorrectly links to the section where you can get the answer!

I. Federal mortgage-related laws (35%)

A. RESPA
B. Equal Credit Opportunity Act (Reg. B)
C. Truth-in-Lending Act (Reg. Z and HOEPA)
D. SAFE Act
E. Other Federal laws and guidelines

1. Home Mortgage Disclosure Act (HMDA)
2. Fair Credit Reporting Act
3. Privacy protection / Do Not Call
4. FTC Red Flag Rules (Fair and Accurate Credit Transactions Act of 2003)

II. General mortgage knowledge (25%)

A. Mortgage programs

1. Conventional/conforming
2. Government (FHA, VA, USDA)
3. Conventional/nonconforming (Jumbo, Alt-A, etc.)

a. Statement on Subprime Lending
b. Guidance on Nontraditional Mortgage Product Risk

B. Mortgage loan products

1. Fixed
2. Adjustable
3. Balloon
4. Other (home equity [fixed and line of credit], construction, reverse mortgage, interest-only)

C. Terms used in the operation of the mortgage market

1. Loan terms
2. Disclosure terms
3. Financial terms
4. General terms

III. Mortgage loan origination activities (25%)

A. Application information and requirements

1. Application accuracy (truthfulness) and required information (e.g., 1003)

a. Customer
b. Loan originator
c. Verification and documentation

2. Suitability of products and programs
3. Disclosures

a. Accuracy
b. Timing

B. Qualification: processing and underwriting

1. Borrower analysis

a. Assets
b. Liabilities
c. Income
d. Credit report
e. Qualifying ratios (e.g. housing, debt-to-income, loan-to-value)

2. Appraisals
3. Title report
4. Insurance: hazard, flood, and mortgage

C. Specific program guidelines

1. VA, FHA, USDA
2. Fannie Mae, Freddie Mac
3. Other (e.g., Mortgage insurance, HUD)

D. Closing

1. Title and title insurance
2. Closing agent
3. Explanation of Fees
4. Explanation of Documents
5. Funding

E. Financial calculations used in mortgage lending

1. Interest per diem
2. Payments (principal, interest, taxes, and insurance; mortgage insurance, if applicable)
3. Down payment
4. Loan-to-value (loan-to-value, combined loan-to-value, total loan-to-value)
5. Debt-to-income Ratios
6. Temporary and Fixed interest rate buy-down (discount points)
7. Closing costs and prepaid items
8. ARMs (eg., fully indexed rate)

IV. Ethics (15%)

A. RESPA
B. Gramm-Leach-Bliley Act
C. Truth-in-Lending Act
D. Equal Credit Opportunity Act
E. Appraisal
F. Fraud detection, reporting, and prevention
G. Ethical behavior

1. Consumers
2. Appraisers
3. Und