Course Overview Transcript

Mortgage-Education.com gives you the opportunity to study at your own pace in the comfort of your home or office. No more scheduling classes or traveling to a school. Distance learning is the easiest way to meet your needs for education.

Mortgage-Education.com offers you a unique way to learn the mortgage business. It has been designed for anybody who has the need or desire to learn the mortgage business in total or for those who need to have knowledge in a specified area such as processing.

All courses are offered with streaming video, audio, and written text. This was done so you, the student can use all three of the learning senses. One of the unique areas is that you can stop or start your studies at anytime, without missing something. As a classroom environment would dictate.

Mortgage-education covers all areas of the mortgage business, and it starts out with teaching you how credit, collateral, and capacity (three C's) are looked at by all decision makers in a loan. Such as the underwriter, processor, closer for a bank or a mortgage lender who reviews and analyzes your customer. This knowledge is critical to you as a student. The first course will also cover over seventy-five commonly used terms and definitions that you will need to know.

The next three courses teach you all about the "3" types of loan's and how does the customer fit into those programs. "It's all based on their income and how they can prove that income."

The next course S5, covers the information that you will need when talking to a customer for the first time, either on the phone or face to face. This course applies to the loan application and starts to educate you about all the information you will need to know on every application.

Course number S6 really gets involved in detail about the loan application. Starting from top to bottom and analyzing every line by explaining the reason's you will need certain information and reason's why it is critical to have certain information for the process of the application.

Course S7 teaches you how to read a credit report, and how to grade someone's credit. The mortgage business can be very simple, if you are familiar with the technique on how to credit grade your customer.

Course S8 takes a complete appraisal and teaches you how to understand and to read this difficult document that is extremely important for the loan, whether it is a purchase or a re-finance.

Course S9 really goes into detail for you about the legal material. It is known as the "Real Estate Settlement Procedures Act" also known as "RESPA". If you are new to the business or a seasoned professional this course is a must take for all students.

Course S10 covers the title portion of the business. This course actually educates you from a real title opinion and shows you how to interpret the title.

Course S11 will show you how to manage multiple loans at one time, although this course is short in time it gives the student a focus that is very important and teaches the student to be effective through the process of multiple loans.

Course S12 - In the mortgage business there are hundreds of lenders who offer different loan programs. This course will teach you how to understand and read the "Loan Matrix." This document is packed with all the requirements from the lender for the borrower to qualify for a certain loan. As a student you really need to understand this part of the business.

Course S13 will teach you how to process a mortgage loan from the beginning to the end. It shows you the reasons why you need certain items and what to do with them. This course also offers over 45 supplemental documents for the student.

Course S14 helps you understand the quality control and compliance side of the mortgage business. In today's marketplace the mortgage banker and mortgage lenders are reviewing all documents that are submitted to them. As a student you must have the same knowledge as they do about this major part of the mortgage business.

Course S15 teaches you how to submit your processed loan to the lender and will train you on each step that you will need to take.

Course S16 teaches you the closing area. It even shows you how to read the settlement statement (HUD). This is extremely helpful for the new students and will also be helpful to your customers, when they need your help to explain to them this document.

Course S17 teaches the Truth-in Lending Federal Law in Detail. It covers the Annual Percentage Rate (APR) and all disclosures that are required to be sent to the borrower.

Course S18 teaches the Federal Reserve System REGULATION (C) which covers all Federal Updates including “The Gramn , Leach, and Bliely Act”

Course S19 teaches the Equal Credit Opportunity Act and Regulation is a Federal Law that applies to all types of credit. It begins with certain definitions including Adverse Action, Default and Discrimination.

Rules are given covering the provision of Appraisal Reports to borrowers, Reverse Mortgages and general Rules for Extending Credit. Spousal Guarantees and Special Purpose Credit are also explained in detail.

There is a full discussion regarding Notices of Adverse Action and the relation of State Law to Federal Law. Involved in this is records retention.

The Brokers' and Lenders' rights to self correction are defined as well as the scope and purpose of the legislation.

Rules for taking an application are examined in great detail. Finally, there is an expanded section regarding Enforcement, Penalties and Liabilities under the law.

The Federal and State governments have a great deal of authority over the lending industry, and rightly so, since it is their mandate to protect all parties concerned. That means protection for the Borrower, Broker and Lender. You must, as a Professional Mortgage Loan Officer or Processor, be aware of these laws and the penalties for violations. Completion of this course will give you the background you need to spot the trouble areas and correct them before they become even bigger problems.

Course S20 teaches Calculating Loan To Value and Debt To Income Ratios in detail, all the formulas that are used by all Industry Underwriters are taught in a easy to understand and easy to use format.

Course S21 teaches How to read Income Documentation thru the eyes of the Underwriter. this course teaches the student all about the different Incomes that a particular borrower(s) might present to qualify for a mortgage, Including How to read all the different IRS tax forms for the W-2 employee and the Self Employed. This is a MUST TAKE course for all Loan officers and Processors.

Course S22 Adjustable Rate Mortgages in Detail and Construction to Permanent Mortgages..... It will teach you all about Adjustable rate mortgages (ARMS) and how the Index and Margins are done and why. Also does a really good training on Construction to Permanent Mortgages ..... It will also teach the BUY DOWN that is used to help qualify your Borrower(s) easier.

Course - FHA - WOW, what a course! www.mortgage-education.com offers a total of 23 courses with multiple lessons this will take the average student 35 hours to complete, including exams. This course will teach the FHA business from "A to Z". It covers origination, processing, underwriting, closing and all the different loan programs that FHA offers. It is so easy to learn and become a better loan officer. Put this course together with the traditional courses and learn it ALL!

The Mortgage-Education.com corporate offices are located at P.O. Box 20657, London Terrace Station, New York, NY, 10011. All instructors and support staff can be reached by telephone at 1-888-557-6770 or by Email at support@mortgage-education.com.

All courses are delivered with streaming video, audio and written text. Each course requires the student to print supplemental documents that will apply to the course(s) that they are studying. There are over 145 documents that will need to be printed by those students who are studying the complete course.

Important Facts

The courses are available 24 hours a day, 7 days a week, 365 days per year. In order to take the courses, you will need the following "free" software:

• Windows, Media Player 7
• Internet Explorer 5.5 or higher
• Acrobat Reader 4.0 or higher

Most computers already have these programs installed. If you are unsure as to whether you have the programs or not, you can download the latest version by clicking on the name of each program above.

Each course consists of several lessons and a quiz, and all multi-class packages include a final exam. You will be required to finish each lesson(s) and pass your test (quiz) with at least an 80% or better for SD or 75% or higher grade before you are given access to the final exam. All tests are graded online, and the results are displayed immediately along with a list of topics that you should study further (if applicable). All tests are generated from a massive test bank, so you will NOT receive the same questions on a re-take of the exam.

Each student who completes the course(s) with an 80% or better for SD or 75% or higher grade will receive a "Certificate of Completion." For those students who are using their course(s) for C.E.U or Broker Certification must furnish the following documentation:

1. Affidavit of identity (notarized)
2. Copy of photo I.D.
3. Copy of current professional license and/or completed state application form.
4. After completion of course for Broker, Realtor, appraiser, (certification and/or C.E.U.'S) signs an Affidavit that states, "I am the person that took the course(s)."

When we receive your documentation by fax, mail or in person, and when you have completed your course(s) with required test scores, Mortgage-Education.com will forward your transcripts to the appropriate state authority.

Each student is given certain times to complete each course. This is regulated in the following manner.

1. Complete course-with F.H.A. non certified-120 days
2. Complete course - no F.H.A. non certified - 90 days
3. Complete course - certified (Broker only) - 30 days
4. Individual courses- non certified - 30 days
5. Individual courses- certified - 30 days

Mortgage-Education does grant extensions with written requests (via e-mail or normal mail).

Registering for classes is easy. Simply select the course or course(s) that you wish to study from the course catalog, click on the "Buy" button. When you are ready to purchase your course, click on "Checkout" and follow the directions on your screen.

Once you have completed your registration, you will be directed to http://my.mortgage-education.com this your personal learning website. To begin, just login with your e-mail address and password.

Your personal "Welcome Page" lists all of the courses for which you are currently registered, your final exams, as well as links to download the free software that we mentioned earlier.

To enter a class, simply click on the title in your list. You will be taken to an orientation screen for that class which lists all of the lessons and quizzes, as well as your current status, and various statistics about the class. (Your time spent in the course, average time for all students, etc.)

Mortgage Education does offer a money back guarantee. It is really quite simple if you are not satisfied we will give you your money back, minus a 15% cancellation fee. You must notify mortgage education within five (5) business days from your enrollment date to receive the refund.

• All "Certificates of Completions" are mailed within 72 hours to the student who has met the testing criteria and the document criteria for those who are studying for certification in their respective state.
• Mortgage-Education.com offers tech support and customer service to the student between the hours of 9:00am and 5:00pm (EST) Monday thru Friday.

Students who are taking the Mortgage-Education.com complete course with FHA will be required to complete a 200 question final exam. These students are given 120 days to complete their studies.

Students taking the original Mortgage-Education.com complete course (without FHA) must complete a 100 question final exam, and must complete their studies within 90 days.

This web site has other areas that you may wish to review. Information about the instructors, FAQ's, all about the company, testimonials, and this course introduction with the streaming video and audio portion. You may also want to check out "Start a career in the Mortgage Industry", "Improve my industry knowledge", "Train my employees", Earn the necessary CE credit for realtors, appraisers or getting certified as a Mortgage Broker.

In this course overview and orientation we tried to let you know a little bit about each course. We did not begin to cover all that you are going to learn. The full course will take the average student about 45 hours to complete and the complete course with FHA will take the average student about 80 hours to complete. The "complete program" of courses that we have, has a unique style and will allow you to choose anyway you prefer to study. A student can purchase one course at a time or a student can purchase a package of four courses at a time. If the student would prefer to purchase a package that pertains to certain information that may include as many as five courses or a little as two courses.

Mortgage education times each student and this information is displayed to you for each course. It will allow the student to view their personal information and the average time spent nationwide by all students in that particular course.

We also take great pride in the way we test you after each course. The test questions are drawn from a large test bank inside the program each time you take an exam. The student will be immediately graded on-line and the student will then know their results immediately. You will be given the opportunity to correct your answer if you got a question wrong. The wrong question and answer will be highlighted in red and the student will be able to click on the link and will be taken to the page where the question was taken from and can be found. If you choose you can re-take the exam and a new bank of questions will be furnished. The student will see new questions along with some old questions. This process will help the student to validate their learning process.

Please furnish your email address in the area "contact us", and we will keep you updated. Thank you so much for visiting this "Free" overview and I personally, as one of the instructors, want you to know that " I wish you great success and may God bless you and your family."