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2-Hour Courses

• Identity Theft

This FAMB modified version of the new NAMB Identity Theft course expands and addresses both the consumer and businessperson’s impact caused by the newest and most prolific crime of the new century. You will learn how the crime is committed, how to guide your customers to protect themselves from this financially devastating crime, and how to protect yourself and your business from costly violations of the Gramm-Leach-Bliley Act.

• Introduction to Credit Scoring

The course is designed to provide the broker with a basic understanding of the complexities and conditions of credit scoring and prepare him/her to be a resource for the consumer. It includes a discussion of FICO bureau scores and MDS bankruptcy scores, evaluating a score to industry guidelines, and compensating factors.

• Introduction to Ethics

Ethics introduces participants to the field of ethical decision meeting by presenting definitions of ethics and encouraging students to discuss the impacts of ethical decision making. The course includes a discussion of the NAMB Code of Ethics and how ethical decision making impacts one’s daily business practice. The course also uses a case study. At the end of the course, participants should be able to: • Define Ethics • Describe ethical decision making • Explain the key difference between ethics and values • Be familiar with and understand the NAMB Code of Ethics • Think about how to incorporate the NAMB Code of Ethics into daily business practice.

• Residential Mortgage Lending Module I

Residential Mortgage Lending Module I introduces participants to the field of conforming, residential mortgage lending by presenting an overview of the players, the process and the markets involved. At the end of the course students should: • Understand the three basic components of Residential Mortgage Lending • Know the four principal stages in the mortgage loan cycle and the major activities in each • Be able to describe the role of the mortgage broker and the broker’s relationship to the other organizations that participate in the mortgage industry • Understand the key differences among conventional, FHA/VA and Sub-prime/non-conforming loan programs • Understand the differentiation between primary and secondary mortgage markets • Be able to describe the government-related participants in the modern secondary mortgage market • Be able to describe types of transactions-sale of whole loans, participations and mortgage-backed securities • Be able to differentiate servicing-released from servicing-retained transactions • Know the basic principles of risk management • Understand the cause and effect relationship between primary and secondary mortgage market activities.

• Residential Mortgage Lending Module II

This course covers the information necessary to pre-qualify the borrower and prepare for the loan interview. The loan originator or LO needs to gather information from borrowers in order to present loan programs that may be right for the borrower. Pre-qualification does not mean that the applicant will qualify for the loan. However, pre-qualification helps the loan originator to identify suitable loan products and to better inform the borrower as to what documents to bring to the loan interview.

• Title Closing – The Closing Process

Important to the closing of the mortgage transaction and the sale of the property is a full understanding of the title company's role in the process. Not only must they receive pay off information, review surveys, clear title problems, secure tax and lien information, they must be certain that all costs involved are included on the closing statement. The documentation required from the lender and the disclosure documents are pertinent to the closing. Do you know what terms and clauses are included in your client's note and mortgage? What are their rescission rights and how might your transaction be affected? Spend time working through the HUD-1 while calculating pro-rations, escrow deposits and borrower/lender costs. You will be able to serve your client better when you experience the closing process from beginning to end.

4-Hour Courses

• Analyzing income for the Self-Employed Borrower

The underwriter must weigh the borrower’s willingness and ability to repay the loan as well as the security for the loan. The focus in this class, as we analyze the self-employed borrower, will be the income produced. Is it regular and recurring? We’ll define the business structures and the documentation required to analyze income. Participants will review each line of the IRS 1040 and compute qualifying income. After completing this course, you will feel confident that your self-employed borrower meets the criteria needed to receive loan approval.

• Construction to Permanent Financing

This presentation will acquaint attendees with the basics of construction lending, structuring the transaction and origination procedures. Learn the differences for qualifying the borrower. Review the appraisal requirements. The course also covers the underwriting of the loan, the disbursement schedule and the broker’s responsibility. Terms to be discussed: Closed end construction loans, open end construction, end loan options and commercial construction financing. Open up new sources of income for you and your firm.

• Detecting and Avoiding Fraud

This course is designed to help you and your organization detect fraud on loan documentation throughout the stages of processing and closing the loan. The first section of the course examines the basic definition of fraud, the motivations behind fraud, types of fraud and general prevention. The second portion of the course covers specific “red flags” that indicate fraudulent loan documentation. Finally, the course reviews the impact technology has had on fraud, as well as ways to fight fraud using technology.

• ECOA, Fair Housing Act and the Home Mortgage Disclosure Act

These laws are also known as the National Fair Lending Laws and they work together to determine whether a consumer has been treated fairly in a credit transaction. During this course you will analyze ECOA and review the questions that may or may not be asked during a loan interview. ECOA also covers the rules for delivery of appraisals and adverse action notices. The review of the Fair Housing Act covers discrimination. FHA establishes limitations and guidelines when advertising and defines fair treatment of individuals. The business of diversity is important today. The Interagency findings on disparate impact and disparate treatment of credit applicants are an important part of this session. Review the requirements of the Home Mortgage Disclosure Act and the duties of the broker and lender for reporting borrowers’ information to the Federal Government.

• FHA Underwriting and Processing

Not everyone fits into the conforming or non-conforming marketplace. Knowing the ins and outs of the government product will enhance your ability to serve your borrowers. You’ll qualify the client, calculate ratios and review the underwriting criteria of the government closing. We’ll take you through the process in an easy-to-understand format. Leave with samples of forms and a complete workbook. Work through calculations with the class and instructor. Bring Calculator to Seminar

• Fundamentals of the Mortgage Loan Process

Technology has provided improvements and advancements to the mortgage application process. However, the basic process leading to loan approval still remains the same. Verifications and documentation remain an important part of the loan approval process. During the course you will review the loan cycle and the roles and responsibilities of the loan processor—review the loan application, verifications of income and assets, alternative documentation and lastly pre-underwrite the loan.

• HOEPA-Section 32 of Reg “Z”. Florida’s Fair Lending Law, and the Private Investor

Do your loan fees and costs trigger HOEPA? If they do, you also have triggered the prohibitions under Florida Fair Lending Act. Unless you know the definitions under Federal law, you may be asked to buy back the mortgage you funded or if you’re brokering the loan, you may be asked to reduce your fees. The penalties for violating the disclosures or including prohibited terms in the mortgage are extensive. Analyze Florida’s pre-consummation disclosure, the law’s prohibitions and limitations, as we compare Florida law with the Federal requirements. Do you know that the Private Investor (non-institutional lender) is also covered under both state and federal law? If you occasionally place mortgages with the private investor (non-institutional investor), this course is mandatory. When you finish this seminar you will have a full understanding of the law and the consequences for not complying. During our case studies you will analyze the H-15 triggers and costs to determine if a transaction triggers the law and disclosure requirements. Florida Fair Lending is part of FS494 and qualifies for license renewal. A four-hour course covering FS494 is required in order to qualify for broker re-licensing in 2009 and originator/principal representative continuing education for 2008.

• Mortgage Business Ethics

Are ethics learned or are they inherent? During this class you will analyze several case studies. You’ll determine whether they are ethical, unethical or debatable and analyze how ethics affects law, the borrower, processor and underwriter. Review your inner psyche, that of your peers and at the same time enjoy the fun of participating in an analysis of cases that were actual regulator findings. You’ll review several case studies and interact with class participants. Find out what the domino effect is!

• Navigating Interstate FS494

Review the significant changes to FS494 that became effective 10/1/2007. Brokers and Lenders are required to furnish expanded disclosures on a timely basis. Disclosure of premium pricing and ARM plan disclosures have been mandated. Navigate with FAMB through the nuances of the Mortgage Brokering and Lending Act. If you are brokering loans or funding mortgages as a lender, you cannot afford to miss this course. Our instructors will guide attendees through the law while reviewing the rules pertaining to each section. Completion of a four-hour course covering FS494 is required biennially of all brokers, principal representatives and originators.

• The Nuts and Bolts of Truth in Lending
• OFR Compliance Course

The Office of Financial Regulation presents this compliance class to keep you and your company informed and in compliance with Chapter FS 494. Get direct answers from the Department about examination issues, changes to and an overview of Chapter FS 494. Make sure you know how to properly disclose to your customer based on the changes to FS 494 enacted October 1, 2007. The Department will prepare you for what to expect when you received an examination notice and how to comply. This course qualifies for 4 hours covering FS 494 as required for license renewal.

You may not be a lender, but depending on your correspondent relationship with your lender, you may need extensive knowledge of TIL and its Regulation Z. Questions that will be answered during this session are: What is a HOEPA (Section 32) loan? What defines it? What is rescission? Can you quote a simple rate, but not quote the APR? What are the components of the APR? Study this and more during our class. You’ll be working with copies of the law, its regulation and commentary as part of the course handout.

• RESPA – Understanding the law & disclosures

Every residential transaction requires compliance with the Real Estate Settlement Procedures Act. Discover when disclosures must be furnished and determine who is responsible for providing those disclosures. This course will guide you through the entire act and its Regulation X. Do you know if your firm might be in violation of Section 8 of RESPA? Several large realtor firms, mortgage companies and title companies have been sanctioned in 2005 & 2006 for violations. The RESPA workbook includes copies of the act and regulation. Policies 1996-1, 2, 3 covering sham businesses, CLOs and retaliation along with Policy 2001 covering yield spread premiums are also included.

• Reverse Mortgages

Explore a new opportunity for you and your business. The senior population of the United States is growing and demanding income in their latter years. The Reverse Mortgage is the answer. This seminar will allow you to understand the reverse product, while explaining the process needed to close the transaction. Federal and lender guidelines will be reviewed. The Home Equity Conversion Mortgage (HECM) product is the wave of the future

• Shedding the Light on Credit Scoring

What is that mysterious score on your client’s credit report? How does it affect the loan package and options available to your client? Spend four hours in a concise course designed to help you understand the credit scoring process while analyzing various repositories’ scoring and lenders’ credit scoring guidelines. You’ll also cover the National Credit Score Disclosure—who furnishes the disclosure and when.

• Small Commercial Lending for Residential Mortgage Brokers

During this four-hour session the instructors will cover the basics of the commercial loan application, acceptable collateral and prescreening of the borrower or guarantor. The course covers compliance issues pertaining to commercial lending and laws such as FIRREA. Participants will analyze (NOI) net operating income, debt service coverage ratios and capitalization. The last part of the course guides you through the development of a plan for entering the commercial lending arena. Bring Calculator to Seminar

• SubPrime Lending: "what you need to know"

This market plays an important part in our lives and that of your borrowers. If you are unfamiliar with the marketplace and the opportunities it affords, then this course is a must. During this session you will become acquainted with the sub-prime lending process. You’ll leave the session understanding HOEPA – “high cost mortgages” and the factors that trigger further disclosure. Become acquainted as to how “risk” determines “rate” in the sub-prime market, while also analyzing the borrower’s credit profile and credit grade.

• The Ultimate Voice of Closing - A Course Covering Title Insurance

This 4-hour CEU course will comprehensively examine title insurance in the state of Florida. Learn how title insurance rates are calculated; the various endorsements used and the types of policies issued. Have you ever had a loan scheduled to close only to learn that an old lien still existed on the property or that a probate needed to be completed? This in-depth course reviews title commitments and covers how to clear common title problems such as probate, trusts and foreclosures. Acquaint yourself with the duties of the title agent. Learn how you can speed up your closing by getting proper documentation early in the loan process. When the unexpecterd title problem appears on the title commitment, you'll be in a better position to discuss it with your clients.

• Understanding and Reviewing Appraisals

In the loan approval process, the security for the loan is of utmost importance. During this course participants will identify the various approaches utilized in valuing property, learn how to read the Uniform Residential Appraisal for residential, small residential income properties, PUDs and condominiums. The automated property appraisal will also be reviewed based on Fannie Mae and Freddie Mac criteria. Be prepared and knowledgeable when your underwriter asks questions of you concerning your client’s property appraisal.

• VA Underwriting and Processing

In the loan approval process, the security for the loan is of utmost importance. During this course participants will identify the various approaches utilized in valuing property, learn how to read the Uniform Residential Appraisal for residential, small residential income properties, PUDs and condominiums. The automated property appraisal will also be reviewed based on Fannie Mae and Freddie Mac criteria. Be prepared and knowledgeable when your underwriter asks questions of you concerning your client’s property appraisal.

8-Hour Courses

• The ABC's of FHA Lending

FHA loans provide another financing opportunity to expand your customer base. This 8-hour course will guide you through the origination process. Review case studies, calculate loan amounts, review property reports, refinance transactions and credit analysis. Learn marketing concepts to reach the FHA customer. You will be provided with a 280-page manual, which incorporates up-to-date regulations. Included also is a full copy of the newly released (10/03) 4155.1 Rev-5, FHA Mortgage Credit Analysis Handbook. Important HUD Mortgage Letters for regulatory compliance, contact numbers, website information and FHA forms and worksheets are provided. Bring Calculator to Seminar

• Advanced Commercial Loan Brokering

One should have taken the Introduction to Commercial Loan Brokering or have a basic knowledge of the commercial terminology. This course provides a quick overview of the procedures learned in our Introduction to Commercial Lending Course. You’ll examine an actual case study of a property considered to be mixed-use, i.e.: retail, office space and multi-family. Analysis of each segment of the property is completed with a final overall analysis of the entire building. Comparison is made and reviewed of each procedure used and then a determination is made on the best avenue to use in making a presentation. A small segment of the course is directed toward securing interim financing if needed during renovations. Bring Calculator to Seminar

• Introduction to Commercial Brokering

This course is designed for those brokers who have little or no experience in commercial loan brokering. It takes the attendee through the basics of analyzing a commercial transaction. The curriculum provides an opportunity to learn how to review an income and expense statement, arrive at a value, project loan amount, annual debt service and loan to value. It leaves very little guessing and provides information as to how the typical lender reviews and analyzes a transaction. Although considered to be basic, the course will allow the attendee to review all aspects of financing, work in groups on an actual case study, package a loan for submission to the lender and work with the client as well as a possible co-broker.Bring Calculator to Seminar

• Managing the Compliance Maze

Are you certain which compliance forms you need in each mortgage file? What does ECOA, RESPA, TILA, Fair Housing, Gramm, Leach, Bliley and FS494 require of you? Where do the laws overlap? What are the new requirements of FS494 changes for October 1, 2007? Are you aware FS494, the Mortgage Brokering and Lending Statute provides that in any mortgage transaction, a violation of RESPA and the Federal Truth in Lending Act is now covered under the Adminis-trative Penalties and ÿnes section of Ch.494.0041f.s.? Spend time “Managing the Compliance Maze” during our disclosure and compliance course. We’ll make all the pieces ÿt.

• Protect your Business – The Customer, the Law and You

This course was designed for the National Educational Committee of NAMB in cooperation with Countrywide. Although Fair Lending compliance is part of this course, Protect Your Business is not about forced compliance instruction. Protect your Business is about how to be a better professional. It’s about learning how to develop and incorporate smart business strategies that not only promote increased fair lending compliance, but increased success—success in your personal job skills, success for your company, and success as an effective and sensitive communicator. We hope you enjoy this course and utilize the teachings to help you protect your business by making the power of the customer work in your favor.

 

NAMB Certification & Designation Programs