NMLS Approved Courses
-
An Introduction to Originating and Processing FHA Loans – Course #1117
4 Hour PE Nontraditional Mortgage
This four-hour Florida Association of Mortgage Brokers course is designed to acquaint Processors and Originators with the skills and knowledge needed to provide mortgage loans insured by the Federal Housing Administration to their borrowers. Upon completion of this course the student will have gained significant and usable insight into this growing section of the mortgage industry. Not only will the student receive instruction, he or she will also participate in class exercises designed to generate practical hands-on skills for the learner to take into the real world of loan production.
**Over one hour of this course involves specific FHA calculations – FHA base loans, both MIP amounts and a full FHA pre-qualification. Please be sure to bring a financial/mortgage calculator to the class.**
-
Truth in Lending - A Review of Truth In Lending, Regulation Z and Its’ Commentary – Course #1048
4 Hour PE Federal Mortgage Law and Regulations
This four-hour FAMB course is designed to feature the information that you must know in order to be in compliance with TILA and its Regulation Z. The course is designed to delve into the specifics of TILA, Regulation Z, the Commentary to TILA and the Mortgage Disclosure Improvement Act passed by Congress in 2008. The course addresses the all important new compliance and disclosure issues and documents with which mortgage professionals must live.
-
Real Estate Settlement Procedures Act (RESPA) – Course #1027
4 Hour PE Federal Mortgage Law and Regulations
This four-hour FAMB course is designed to feature what you must know in order to be in compliance with RESPA. The intent of this course is to cover all portions of RESPA in addition to the changes published by HUD. During this course students will become acquainted with the laws and the disclosures required. This course addresses the final rule that HUD published on November 17, 2008. Existing law and the final regulation changes have been incorporated throughout the course material. This course will walk you through the January 1, 2010 changes that impact the new HUD 1 and Good Faith Estimate with step-by-step information and clarifications.
-
The SAFE Act – Course #1034
3 Hour PE Federal Law and Regulations
This three-hour FAMB course is designed to educate the attendees regarding Title V of the Housing and Economic Recovery Act more commonly known as the SAFE Act. This course informs attendees regarding all aspects of the SAFE Act and how the elements of this act will forever alter a state’s lending laws and effectively changing the face of the lending industry across the country. Learn the nuances of the act and why your state laws changed to accommodate the federal mandate.
-
The New FS494 and How Your Business Will Change Forever – Course #1057
3 Hour FL PE Elective
This three-hour FAMB course is designed to teach you the important changes to the Florida Mortgage Broker and Lending Statutes, FS494. This is the act under which we operate as licensed mortgage professionals: compliance with these statutes is critical. The passage of the SAFE Act in 2008, which required the rewriting of our state law, will indeed change forever the way we do business. This course’s aim is not just to inform attendees about the 2009 Legislative Session changes, but also how these changes will impact how Florida’s lending industry does business.
-
SAFE Ethics - Course #1421
3 Hour PE Ethics
Upon completion of this three-hour course, the student will have a firm grasp of the laws and regulations that affect his or her interaction with a borrower. The course addresses consumer protection, protecting the borrower’s confidential information, avoiding potentially discriminatory actions, fraud detection and avoidance and ethical standards that need to be practiced by all members of the industry. The course visits and provides detailed information on The Fair Housing Act, Gramm-Leach-Bliley and the Safeguard Rules, The Patriot Act, Red Flag Rules and The Fair Credit Reporting Act. The course provides not just information about various consumer protection laws; it provides the student the opportunity to explore the avenues of ethical decision-making.
National Test Prep Courses
-
4-Hour National Test Prep
This 4-hour S.A.F.E. Act National Test Prep Course is designed to provide the necessary knowledge to prepare you for the federal portion of the S.A.F.E. Mortgage Licensing Act exam. The Nationwide Mortgage Licensing System ("NMLS") Federal SAFE Act exam covers federal law and regulation, instruction on fraud, ethics, consumer protection, fair lending issues, and the nontraditional marketplace.
By the end of this course, participants will be able to:
* Identify licensing requirements within the SAFE Act
* Review the major Federal Laws and Regulations
* Identify fraud and the different types of fraud
* Understand that ethical decisions with all participants in the mortgage
process is the only option
* List consumer protection and fair lending requirements
* Identify traditional and nontraditional mortgage products
* Explain the risks involved with nontraditional mortgage products
-
8-Hour National Test Prep
This 8-hour S.A.F.E. Act National Test Prep Course is designed to provide the necessary knowledge to prepare you for the federal portion of the S.A.F.E. Mortgage Licensing Act exam. The Nationwide Mortgage Licensing System ("NMLS") Federal SAFE Act exam covers federal law and regulation, instruction on fraud, ethics, consumer protection, fair lending issues, and the nontraditional marketplace. This course expandes upon the information provided in the 4-Hour S.A.F.E. Act National Test Prep Course.
By the end of this course, participants will be able to:
* Identify licensing requirements within the S.A.F.E. Act
* Review the major Federal Laws and Regulations
* Identify fraud and the different types of fraud
* Understand that ethical decisions with all participants in the mortgage
process is the only option
* List consumer protection and fair lending requirements
* Identify traditional and nontraditional mortgage products
* Explain the risks involved with nontraditional mortgage products
State Test Prep
-
4-Hour State of Florida Loan Originator Test Prep
This 4-hour State of Florida Loan Originator Test Prep Course is designed to provide the necessary knowledge to prepare you for the Florida portion of the S.A.F.E. Mortgage Licensing Act mandated loan originator state exam. The State of Florida Loan Originator exam covers state law and regulations, license law, compliance, disciplinary actions and the Florida Office of Financial Regulation.
By the end of this course, participants will:
* Review F.S. 494 and 69V-40 compliance with regards to conduct, fees, agreements, disclosures and practices
* Understand F.S. 494 and 69V-40 license law and regulation regarding licensure requirements, disciplinary actions, revocations and maintenance
* Be aware of the FLOFR’s authority and abilities
* Familiarize themselves with state law and regulation definitions
* Learn Florida specific laws, requirements and tax calculations
2-Hour Courses
-
Evaluating and Explaining Reverse Mortgage Benefits
The differences between forward and reverse mortgages are significant. During this course you will examine reverse mortgage disclosures and review other documents that comprise a full reverse mortgage application package. In addition, you will:
*Review how benefits are calculated
*Review at least two different examples of Reverse Mortgage Analyzer Software
*Learn which information is most critical to an accurate evaluation
-
Reverse Mortgage Marketing
Are you new to the senior market? Think you know how to speak with seniors? “Sure,” you say. “It’ll be a snap to sell them a reverse mortgage.” Actually, you don’t “sell” them, you guide them. When a forward originator enters the senior market, the first, and often worst, mistake they make is to assume that everything they know will work for reverse mortgages – just as it worked for forward mortgages.
With this course, you will learn how to be efficient and close more reverse loans by avoiding the traps that are unique to the senior market. It just isn’t the same as what you have been doing!
-
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.
-
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.
-
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.
-
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.
-
Principles of Commercial Mortgage Lending
This is an introductory course for those interested in brokering commercial mortgage loans. This course is ideal for residential mortgage brokers who are seeking to originate multifamily and commercial mortgage loans. This course provides an overview of commercial mortgage lending including the benefits of brokering commercial loans, underwriting and valuation concepts, calculations, and how to get started in this lucrative business by spending time on winning loans and avoiding pitfalls..
-
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
-
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
The VA insured mortgage provides an alternative for those who qualify for this specialized loan product. With over two million returning veterans who will want to secure the “American Dream,” you need to be aware of the criteria necessary to get your loans approved and closed. This course is designed to familiarize the Loan Officer and Processor with the basics of originating VA Loans. Participants will learn what is needed to process this type of loan, how to qualify your customer, calculate ratios and review the underwriting criteria of this product.
8-Hour Courses
-
The ABCs 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
-
Practical Application of Commercial Mortgage Lending
This course provides an in-depth practical overview of the fundamentals of multifamily and commercial mortgage lending including property and borrower analysis, cash flow underwriting, calculations, and terminology used in commercial lending. This hands-on course includes real-world case studies that demonstrate techniques for interviewing borrowers, collecting the right information, making necessary underwriting calculations, arriving at a supportable loan amount, and structuring and presenting winning loan requests to lenders.
** This course requires a calculator (preferably a financial calculator)
-
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.
24-Hour Pre-Licensure Course
WHAT MAKES OUR COURSE DIFFERENT?
Our course takes a more in-depth approach than that of many schools. While you are studying the testing material, you are also using processing, underwriting and closing criteria, reviewing the documents borrowers must receive and studying how and when the various state and federal laws apply throughout each step of the loan process. FAMB’s 24-Hour Pre Licensure Course not only prepares you for licensure testing, it acquaints you will the full mortgage process from application through closing, and the steps necessary to keep your files and office in compliance.The state of Florida specifies that testing will cover law and contracts (35%), the application process (15%), Underwriting (15%), FNMA criteria 20% and the balance will cover the secondary market and mortgage financing. Our 650 page manual covering these criteria will serve as a permanent reference tool long after your license is issued. An index to our manual is included below.
LEARN FROM THE PROFESSIONALS WHO WORK EVERY DAY IN THE BUSINESS!
Our instructors are unique. The faculty consists of experienced instructors who are knowledgeable in all aspects of the mortgage business. They are there to answer your questions and will guide you to the materials you need to study for testing. Our comprehensive test review consisting of over 200 questions will prepare you for testing.
In addition, we cover the various math computations you will need for testing.
JOIN OUR FREE WEBINAR!
This is a unique tool for test preparation. Each Friday, after you have completed the 24-hour course, we offer a FREE WEBINAR. During this 2-hour webinar we will review important sections of the materials. If you have questions after taking the course or during the webinar, you may direct them via e-mail to our webinar coordinator. They will be answered live during this free webinar. You will receive an invitation to join this session via e-mail. Accept our invitation and you will automatically be included as a webinar participant.
NEED FURTHER PREPARATION?
If you wish further review, you may attend our classes within 2 months of completion without charge. You must register as space is limited and you must bring your manual.
COURSE COSTS
FAMB Members and their Staff - $200 – no charge for the manual
Non-Members $200 plus $69 for manual
Manuals will be pre-shipped upon payment of a $10 shipping and handling fee. The Glossary of Terms and FNMA guidelines will be forwarded via e-mail free of charge prior to the class. These two sections should be studied prior to taking the course.
|
|
