Course Goals
This course gives both beginning and experienced mortgage underwriters the necessary skills to make sound mortgage underwriting decisions. Participants learn a systematic approach to review a mortgage application and come to a reasoned underwriting decision.
Course Objectives
Upon completion of the course, participants will be able to demonstrate their knowledge of the following:
- Shelter products
- How to systematically evaluate a mortgage application
- Government regulations
- Key risk factors in making an underwriting decision
- How to read and understand a credit report
- How to read and understand an appraisal
- How to determine eligible income for salaried and self employed individuals
- Tax returns
- Personal financial statements.
- How to calculate income/debt ratios
- How financing fees, down payment and closing costs are determined
- How to make an underwriting decision
- Loan Structure & Documentation issues.
- Adverse action notices
- Counteroffers
- Fraud issues
Format and Timeframe
This course can be taught in two to three days depending upon the experience level of the participants.
Who Should Attend?
New and experienced mortgage underwriters
Financial analysts
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