Comprehensive Mortgage Lending Correspondence Course 

Home Study Package  # TSLD-21-2004-02CP

Great Value

US$ 175.00

15.00 Hours

Our recently updated and Texas Savings and Loan Department approved Comprehensive Mortgage Lending Correspondence Course  Home Study Package now offers 15 Credit Hours satisfying the Core & CE  state requirement for pre-licensing and and renewal of MB or LO license.  

This home study package has been designed for folks who encounter difficulty reading on the computer screen and also need a hard copy.  Our Home study package comprises close to 186-page book, amortization calculations and a 100-question quiz.  We expect you to complete the course within 3 weeks time.

The registrant will be required to read the book and will be expected to complete all the assignments and finally to take the quiz.  After completing the quiz the registrant will submit the quiz for the final grade to Texas Mortgage Lending School.  If the registrant makes at least 70% score then we will issue him/her the completion certificate.  We will send this certificate with first class mail along with faxing the  copy to the registrant if the registrant has provided us his or her fax number. You can submit the fax copy to TSLD  for the issuance or renewal of your MB or LO license. 

Course Cost $175 Plus $10 for shipping and handling 

Course Cost On-Line $99 ( book on on-line) without Book Hard Copy

TOPICS COVERED 

·        WHAT IS REAL ESTATE?

·        WHAT IS PERSONAL PROPERTY?

·        WHAT IS A MORTGAGE?

·        MORTGAGE IS THE MOST EXPENSIVE COMMODITY

·        PRICE OF MORTGAGE AND ITS COMPONENTS

Lesson Two    2-1 to 2-3

·        WHAT IS LOAN BROKER?

·        WHY PEOPLE USE LOAN BROKER?

·        THE ROLE OF THE LOAN BROKER

·        HOW DOES THE BROKER MAKE HIS MONEY?

·        BROKER COMMISSION GUIDELINES

Lesson Three (Funding Sources)   3-1to 3-12

·        MORTGAGE BANKS

·        COMMERCIAL BANKS

·        SAVINGS & LOAN INSTITUTIONS

·        CREDIT UNIONS

·        INSURANCE COMPANIES

·        PRIVATE INVESTORS

·        401 K FUNDS

Lesson Four (Various Mortgage Instruments 4-1 to 4-4)

·        CONVENTIONAL FIXED RATE MORTGAGE

·        ADJUSTABLE RATE MORTGAGE (ARM)

·        BI-WEEKLY MORTGAGES

·        BUY-DOWN

·        HOME EQUITY LOANS

·        BALLOON LOANS

·        FHA/VA LOANS

·        JUMBO LOANS

·        AUTHORIZATION TO GET THE CREDIT REPORT

·        CONFIDENTIALITY

·        HOW TO GET CREDIT REPORTS

·        CREDIT REPORTING AGENCIES

·        CRUCIAL AREAS IN CREDIT REPORTS

·        FICO SCORE

·        FEES

·        CREDIT ERRORS AND HOW TO CORRECT THEM

Lesson Six (Appraisal) 6-1 to 6-10

·        WHAT IS AN APPRAISAL?

·        WHO IS AN APPRAISER?

·        COST APPROACH

·        MARKET APPROACH

·        INCOME ANALYSIS APPROACH

·        UNIFORM APPRAISAL FORM

Lesson Seven (Pre-qualification) 7-1 to 7-4

·        FACE-TO-FACE INTERVIEW

·        FRONT RATIO

·        BACK RATIO

·        LTV

·        NATIONAL STANDARDS FOR RATIOS

Lesson Eight (1003 Loan Application) 8-1 to 8-12

·        MORTGAGE APPLIED FOR

·        PROPERTY LEGAL ADDRESS

·        BORROWER INFORMATION

·        CO-BORROWER INFORMATION

·        PRESENT ADDRESS

·        EMPLOYMENT INFORMATION SECTION

·        GROSS MONTHLY INCOME

·        TOTAL MONTHLY HOUSING EXPENSES

·        OTHER INCOME IF EMPLOYED LESS THAN TWO YEARS

·        ASSETS AND LIABILITIES SECTION

·        NET WORTH

Lesson Nine (Information for Mortgage Loan)  9-1 to 9-2

·        NAME OF BORROWER & CO-BORROWER FOR TITLE

·        ADDRESS OF THE PROPERTY FROM THE TITLE COMPANY

·        SOCIAL SECURITY AND BIRTH DATE

·        PRESENT ADDRESS FOR AT LEAST TWO YEARS

·        PREVIOUS ADDRESS IF LESS THAN TWO YEARS AT THE PRESENT ADDRESS

·        CREDIT ACCOUNT INFORMATION

·        EMPLOYMENT INFORMATION FOR AT LEAST 2 YEARS

·        PREVIOUS EMPLOYMENT IF LESS THAN 2 YEARS

·        SELF-EMPLOYED INCOME TAX AND PROFITS AND LOSS FOR TWO YEARS

·        DETAILS FOR ALL HIS LIQUID ASSETS

Lesson Ten (Mortgage Federal & State Laws, Disclosure forms) & Compliance Rules by TSLD

• EQUAL CREDIT OPPORTUNITY ACT (ECOA)
• TRUTH-IN-LENDING STATEMENT (TIL)
• FAIR CREDIT REPORTING ACT
• FAIR DEBT COLLECTION ACT
• REAL ESTATE SETTLEMENT PROCEDURE ACT (RESPA)
• THE U.S. PATRIOT ACT 
• HOME MORTGAGE DISCLOSURE ACT (HMDA)
• TEXAS MORTGAGE BROKER ACT

Lesson Eleven (Loan Processing) 11 to 11-9 

·       VERIFICATIONS

·        EMPLOYMENT

·        PREVIOUS EMPLOYMENT IF LESS THAN 2 YEARS

·        DEPOSITS

·        SOURCES OF DOWN PAYMENT

·        MORTGAGE OR RENT

·        VOD FORMS

·        VOE FORMS

·        VOM FORMS

Lesson Twelve Typical Loan Package Components  12-1 to 12-33

·        AUTHORIZATION TO CHECK THE INFORMATION

·        UNIFORM RESIDENTIAL LOAN APPLICATION---1003

·        GOOD FAITH ESTIMATE

·        TRUTH-IN-LENDING STATEMENT

·        ALL OTHER STATE AND FEDERAL DISCLOSURE FORMS

·        EMPLOYMENT VERIFICATION

·        DEPOSIT VERIFICATION

·        RENT OR MORTGAGE VERIFICATION

·        COPY OF THE CREDIT REPORT

·        COPY OF THE UNIFORM RESIDENTIAL APPRAISAL REPORT

·        ANY BALLOON RIDERS

·        LOAN SUBMISSION FORM

Lesson Thirteen (Marketing Your Services)13-1 to 13-3

·        WHAT IS MARKETING?

·        WHAT IS SELLING?

·        FOUR CRUCIAL STEPS IN SELLING

·        SELLING TECHNIQUES

·        ADVERTISEMENT

·        FLYERS TO REAL ESTATE AGENTS

·        RADIO AND TV

·        COLD CALLING

·        Major Credit Reporting Companies

·        Famous Mortgage Software Companies